President Bola Tinubu has announced that Africa-China trade has surged to an estimated $280 billion.
Speaking at the 2024 Forum on China-Africa Cooperation (FOCAC) in Beijing on Thursday, Tinubu highlighted the flourishing economic partnership and its role in global progress.
“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.”
Tinubu commended China’s Belt and Road Initiative for aligning with Africa’s infrastructure goals, especially under the African Continental Free Trade Agreement.
He emphasized that the collaboration between the two regions creates opportunities for shared prosperity and growth.
“By working together and joining hands, we create opportunities for success, people, development, and shared prosperity,” the president added.
Reflecting on the historical ties between Africa and China, Tinubu lauded the enduring partnership, which began with China’s support for African independence movements in the 1950s. The relationship has since evolved into a robust partnership encompassing trade, investment, and diplomacy.
“What began as China’s support for African nations’ independence has evolved into a rich, multifaceted partnership spanning trade, investment, and diplomacy,” he remarked.
He praised China for its consistent support to Africa, particularly in financial development and cultural exchange.
Tinubu highlighted initiatives like the establishment of Chinese cultural centers across Africa, which have brought the two peoples closer.
“The establishment of Chinese cultural centres across Africa exemplifies the depth of our cultural function and shared learning,” Tinubu stated.
The president also celebrated the role of FOCAC, established in 2000, in deepening the economic and diplomatic ties between Africa and China, noting its importance in navigating global challenges through cooperation.
“Our joint efforts reinforce the vision for a multipolar world where diverse perspectives are embraced, and cooperation is key to solving global challenges,” Tinubu said.
He called for a continued focus on peaceful dialogue, transparent business practices, and diplomatic conflict resolution to ensure that the partnership remains strong for future generations.
“As we look to the future, it is crucial that we maintain momentum. Peaceful dialogue, transparent business practices, and diplomatic conflict resolution remain at the forefront of our efforts,” he concluded.
Tinubu’s speech underscored the growing significance of Africa-China relations as a model for global cooperation, based on mutual respect, trust, and the pursuit of common goals.