A signing ceremony for 26 projects is held during the opening ceremony of the 2022 China (Zhejiang) Forum on China-Africa Economic and Trade Relations in Jinhua, Zhejiang province on Nov 21. [Photo/jinhua.gov.cn]
A total of 26 projects with investment totaling 57.98 billion yuan ($8.1 billion) from Jinhua will be carried out in Africa, according to a signing ceremony held during the opening ceremony of the 2022 China (Zhejiang) Forum on China-Africa Economic and Trade Relations and China-Africa Cultural Cooperation and Exchange Week in Jinhua, Zhejiang province on Nov 21.
At the signing ceremony, Zhejiang Gezhi Trading Co, a subsidiary of Merit Link Group, and Zhejiang Yingfan Trading Co signed a deal worth 1 billion yuan to build an overseas warehouse for Merit Link Group.
The warehouse will be located in Algiers, the capital of Algeria, with an area of about 20,000 square meters. It is expected to serve the company's operations in the Middle East, North Africa, and Central and South Africa. A series of products made by the company had a market share of 60 percent in Algeria.
Overseas warehouses not only allow for faster delivery of goods, but also help promote domestic brands in the overseas market.
Cheng Caicui from Merit Link Pinguan Technology Co said that the company will act to expand the overseas warehouses in Africa to better serve local customers.
Cheng added that the expansion of overseas warehouses is part of the group's business model and will expand its presence in the African market and improve the efficiency of logistics.