“In the next three years, the Chinese government will provide financial support amounting to 360 billion yuan” (about 50.7 billion dollars), Xi said at the opening ceremony of the Forum’s 2024 Summit. on FOCAC: The President accepts the Transition (…) – Gabonews”>Sino-African Cooperation (FOCAC).
The 10 partnership action plans cover the areas of mutual learning among civilizations, trade prosperity, industrial chain cooperation, connectivity, development cooperation, health, agriculture and livelihoods, people-to-people exchanges and cultural exchanges, green development and common security, he said.
Speaking in front of around fifty African heads of state and government taking part in this flagship event, the Chinese president also promised to contribute to the creation of “at least one million jobs in Africa”.
“A third of the world’s population lives in China and Africa. There will be no global modernization without the modernization of China and Africa,” insisted the Chinese head of state, calling for bilateral ties between Beijing and the countries of the continent to be raised to the level of strategic relations. .
“Thanks to nearly 70 years of unremitting efforts by both sides, China-Africa relations are now at their historic best,” Xi added.
For his part, UN Secretary General Antonio Guterres noted that China and Africa could lead together “the renewable energy revolution”.
He also praised China’s “remarkable record” in development, particularly in poverty eradication, noting that it is “a great source of experience and expertise” .
The FOCAC program includes four high-level meetings on state governance, agricultural industrialization and modernization, peace and security, as well as quality cooperation under the Belt and Road Initiative. the Road”.
The agenda for the 2024 edition of this unmissable meeting for economic operators from both parties also includes the 8th Sino-African Conference of Business Leaders.
The Forum will be marked by the adoption of the Beijing Declaration and Plan of Action, in addition to a roadmap for the implementation of Sino-African cooperation over the next three years.
FOCAC, which is celebrating its 24th anniversary this year, constitutes a partnership of choice between China and the African continent, based on the cardinal principles of solidarity, cooperation and respect for the sovereignty and territorial integrity of States.
Created in October 2000 in Beijing, FOCAC is the oldest regional forum in China. The mechanism gained prominence in 2006, when Beijing announced the creation of a $5 billion China-Africa development fund.
What are the potential risks for African nations involved in deepening relationships with China?
Interview Between Time.news Editor and Expert on Sino-African Relations
Time.news Editor: Thank you for joining us today to discuss the recent developments from the Forum on Sino-African Cooperation, particularly President Xi Jinping’s bold commitments. Let’s dive straight in. At the opening ceremony, Xi announced 360 billion yuan in financial support to African nations over the next three years. What does this signify for China-Africa relations?
Expert: Thank you for having me! Xi’s announcement is monumental. It highlights China’s strategic pivot toward strengthening ties with Africa. The financial support isn’t just about aid; it’s an investment aimed at fostering deeper economic integration and partnership. By committing such a significant sum, China is positioning itself as a key player in Africa’s development agenda.
Time.news Editor: Absolutely. He also spoke about ten partnership action plans covering diverse sectors from trade to cultural exchanges. How do you see these plans affecting bilateral relations?
Expert: The diversity of these action plans is quite telling. By addressing multiple sectors such as health, agriculture, and mutual cultural exchanges, China is not only looking at immediate economic benefits but also enhancing soft power in Africa. This holistic approach allows for a more robust and sustainable partnership, promoting mutual understanding and collaboration on various fronts.
Time.news Editor: Interesting point. Xi emphasized the goal of creating at least one million jobs in Africa. Why is job creation specifically highlighted in this context?
Expert: Job creation is a crucial element for sustainable development. By promising to create jobs, China recognizes the importance of addressing unemployment in Africa, which affects economic stability and growth. Moreover, creating jobs can help mitigate potential backlash against foreign investments, making the partnership more palatable to local populations. It also aligns with Africa’s own Development Goals.
Time.news Editor: He also stated that ”there will be no global modernization without the modernization of China and Africa.” How do you interpret this statement?
Expert: That statement reflects the growing significance of both regions in the global economy. With China being a global economic powerhouse and Africa having vast resources and potential markets, their joint modernization could potentially reshape global trade dynamics. It suggests that the future of global development is interconnected, and collaborative efforts between these two regions are essential for fostering inclusive growth.
Time.news Editor: Critically, is there any concern regarding the depth of China’s involvement in Africa, particularly in terms of debt and dependency?
Expert: That’s a valid concern. While the investments are significant, there’s an ongoing debate about the implications of such financial assistance. Critics often point to the risk of creating dependency or increasing debt burdens for African nations. Transparent governance and careful planning are essential to ensure that these investments are beneficial and do not lead to long-term economic challenges.
Time.news Editor: Before we conclude, what should African nations keep in mind as they engage with China in this new chapter of cooperation?
Expert: African nations should prioritize their own national interests. It’s crucial to negotiate terms that not only benefit their economies but also safeguard their autonomy. They must engage in dialogues that ensure knowledge transfer and capacity building, which would enable them to leverage these partnerships for sustainable development. Collaboration should be a two-way street, ensuring both sides benefit equitably.
Time.news Editor: Thank you for those insights! It seems that while the opportunities are significant, African nations must tread carefully as they chart this new path with China.
Expert: Indeed. It’s a complex landscape, and strategic engagement will be key to maximizing the benefits of this partnership.
Time.news Editor: Thank you for your time today! We appreciate your valuable perspective on this pressing topic.
Expert: Thank you for having me! It was a pleasure discussing these important developments.