The 2024 Forum on China-Africa Cooperation (FOCAC) Summit concluded with a strong commitment from African and Chinese leaders to enhance their partnership for inclusive and sustainable development. Marking 24 years since its inception, FOCAC has been instrumental in deepening China-Africa relations more significantly than any partnership with a single country.
A recent survey by the Johannesburg-based Ichikowitz Family Foundation revealed that 82% of African youth view China as the most influential power in Africa, surpassing the United States' 79%. This sentiment underscores the growing trust and reliance on China as a dependable partner that shares similar historical and developmental contexts with African nations.
At the summit, China pledged approximately 360 billion yuan (about $51 billion) to support various initiatives over the next three years. These initiatives focus on major infrastructure projects, green energy transition, agricultural modernization, and industrial expansion. Since 2009, China has been Africa's largest trade partner, and the latest agreements aim to diversify Africa's trade markets, leading to higher incomes for farmers and producers.
In addition to financial support, China will offer around 60,000 training opportunities to Africans, with a particular emphasis on women and young people. This skills and technology transfer is expected to boost entrepreneurship, providing pathways out of unemployment and poverty. Many young Africans favor training in China due to high-quality education, affordable living costs, and hands-on learning experiences that resonate with their local contexts.
Meanwhile, Africa brings valuable assets to the table, including abundant natural resources and renewables. Partnering with China, the world's largest source of green energy technology, positions Africa as a key player in climate mitigation and adaptation efforts.
Africa's dynamic and youthful markets, along with the implementation of its free trade area—the largest after the World Trade Organization—present numerous opportunities for Chinese enterprises. This collaboration not only benefits both economies but also fosters mutual understanding, friendship, and cultural connections between China and Africa.
Reference(s):
FOCAC synergizes China-Africa partnership for sustainable growth
cgtn.com
