China-Africa Summit: Xi announces ten partnership action plans worth $50 billion over three years

by times news cr

“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.

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