An olive tree plantation near Tunis, capital of Tunisia. (Photo: GT/Hu Weijia)
Cooperate with China
Currently, about 80 Tunisian olive oil brands are being exported to more than 50 countries and regions such as the US, Canada, France, Russia and some Arab countries, Loued said.
"But the total volume of olive oil exports from Tunisia to China is not so big, at around 4,000-5,000 tons per year. I think there is huge potential for Tunisian enterprises to expand their business in China," Loued noted.
China is now one of the world's fastest-growing markets for olive oil, and an increase in olive oil imports from Tunisia may benefit Chinese consumers, Wei Jianguo, China's former deputy minister of commerce, told the Global Times on Thursday.
Tunisian olive oil is usually cheaper than olive oil exported from EU countries and is still of good quality, but it has a relatively low market share in China compared with EU brands as most Chinese consumers are unfamiliar with Tunisia and Tunisian products, the local analyst said.
Ben Fradj, a Tunisian olive oil producer, told the Global Times on April 16 that the EU is the major export market for his company.
According to official data, Tunisia now exports 60-70 percent of its olive oil to Spain and Italy.
"I want to explore China's market and export my olive oil to China directly," Fradj said, adding that it could be a good choice to sell via China's business-to-consumer online shopping platforms.
Firms in the country are eager to explore China's market, but they are still lagging behind in terms of packaging.
Wei from the Chinese ministry of commerce said cooperation with Tunisian companies on olive oil could offer a good opportunity for Chinese firms, which have advantages in terms of packaging.
Chinese enterprises could invest in local Tunisian plantations and import olive oil after it is processed in Tunisia, to meet the increasing demand in the Chinese market, Wei said.
Investment welcomed
More than a dozen Chinese firms have already invested in Tunisia, mostly in the communications, water conservancy and oil production sectors, Bian Yanhua, the Chinese ambassador to Tunisia, told the Global Times on Thursday.
"Foreign direct investment is very important for the Tunisian economy and there are about 5,000 foreign companies operating in the country," Hamad said.
"I have been to China several times in order to introduce Tunisia's olive oil into the Chinese market and invite Chinese enterprises to invest in Tunisia," Loued said, adding that some Chinese investors have visited Tunisia's plantations and have shown interest in investment.
Bian said there are still some difficulties facing Tunisia's economy in attracting more foreign investment, including an imbalance in regional development and in the country's industrial structure.
But on the bright side, the country has been stable since the political upheaval of 2011, and promoting economic development has become a common goal for most parties in Tunisia, Bian said.
The IMF has forecast that Tunisia's economy will expand by 3.7 percent this year and 4.5 percent next year.
