The 9th Forum on China-Africa Cooperation Summit officially commenced on Thursday, 5 September 2024, in Beijing. The Summit was inaugurated by a keynote address from President Xi Jinping of the People’s Republic of China.
President Xi underscored the contributions of the China-Africa Cooperation in advancing relations over the past 24 years since its inception in 2000.
He noted that the relationship between China and Africa, which spans over 70 years, has now reached a higher stage of development.
Xi used the platform to present a 10-point proposal aimed at fostering mutual development and partnership between China and Africa. He pledged over 50 billion dollars in funding for the implementation of various programs over the next three years.
These include the modernisation of industrialisation, agriculture, trade, investment, training, and infrastructure.
Others are access for Africa’s goods to the Chinese market, 30 infrastructure connectivity projects and development cooperation comprising 1,000 livelihood projects.
“In the next three years, China will work with Africa to take 10 partnership actions for modernisation to deepen China-Africa cooperation and spearhead Global South modernisation,” said President Xi.
The Chinese leader noted that China and Africa together account for one-third of the world’s population, saying without the modernisation of the two, there will be no global modernisation.
Most notably, Xi said the aim of the new deal is to foster economic opportunities by offering zero-tariff treatment to least developed countries in Africa, expanding market access for agricultural products and establishing new economic opportunities.
ALSO READ: Millions of dollars pumped into African SMEs.
