Africa-China trade moves to $280bn, as Tinubu seeks stronger ties

Africa-China trade moves to $280bn, as Tinubu seeks stronger ties

Tinubu spoke on Thursday while addressing world leaders at the opening session of the 2024 forum on China-Africa cooperation (FOCAC) in Beijing, China.

The president said the success of FOCAC emphasised the important message that global progress requires partnership and collaboration.

“I think the flourishing economic partnership trade between Africa and China has grown exponentially, reaching an estimated $280 billion,” Tinubu said.

“These impressive figures speak volumes about the extent of our economic relationship and the expanding integration of our market. China’s belt and road initiative aligns with Africa’s own infrastructure goals under the African Continental Free Trade Agreement.

“By working together and joining hands
and looking for that win-win solution, we create opportunities for success, people, development and shared prosperity.

“It is my joy and pleasure that I stand before you today celebrating the remarkable partnership between Africa and China. A bond that has not only endured but has grown stronger since its inception in the early 50s.”

Tinubu said the relationship between China and Africa has become a “true testament” to the power of mutual respect and cooperation.

“What began as a China support for African nations independence has evolved into a rich, multifaceted partnership spanning trade, investment and diplomacy,” he said.

“Over the years, our tide has been solidified. We share through high-level engagement, strategic agreement and a shared vision of growth.

“Today, we gather to reflect on the progress we have made and chart the cause for even greater achievements at this stage.

“I must say congratulations to the earliest speakers, particularly our co-chair, my brother and friend, the president of Senegal, for navigating what appears to be complex, in a very simple manner and getting us to this position. Thank you very much for your contribution.”

The president praised China’s contribution to the growth of Africa in various sectors, including the culture to promote learning.

“Throughout our journey, there have been defining moments that have shaped this partnership. China has consistently demonstrated its commitment to Africa not only through financial and developmental support but also through cultural changes that bring our people closer and closer together,” he said.

“The establishment of the institute and Chinese cultural centres across Africa exemplifies the depth of our cultural function and shared learning.

“A landmark of our relationship came in the year 2000 with the establishment of the FOCAC. This platform has been pivotal in strengthening our economic ties and reaffirming our commitment to mutual progress, despite the global challenges we face.

“Whether the economy or geographical, our partnership has stood firm, resolute and offering a powerful example of what can be achieved through respect for sovereignty and non-interference, one of the highest highlights of this collaboration.

“Our joint efforts reinforce the vision for a multipolar world. Where diverse perspectives are embraced and cooperation is key to solving global challenges.

“At the heart of China-African relations is a foundation built on trust, mutual respect and the pursuit of common goals. As we look to the future, it is crucial that we maintain the momentum, peaceful dialogue, transparent business practices, and diplomatic, and conflict resolution remains at the forefront of our efforts.

“These values will ensure that the bond between Africa and China continues to deepen and benefit both regions for the generations yet to come.”