Africa -China Review Africa -China Cooperation and Transformation
Published:October 21,2022
By Li Xuewei
The report of the 20th National Congress of the Communist Party of China (CPC) gives a clear description of the future roadmap for China’s opening to the outside world. At the same time, the African Continental Free Trade Area (AfCFTA) has been officially launched and the AU Agenda 2063 accelerated. China and Africa have entered a new stage of cooperation.
According to the 2021 China-Africa economic and trade cooperation data released by the Chinese Ministry of Commerce, the annual trade volume between China and Africa exceeded US$250 billion mark, a year-on-year increase of 35.3%, hitting a new high since 2014.
As partners in the joint construction of the Belt and Road Initiative and a community with a shared future, China and Africa have complementary advantages and a huge potential for economic and trade cooperation. The two sides can build a new development partnership, promote market connectivity, industry integration and innovation, and streamline the circulation of resources and elements, so as to form a more efficient China-Africa economic interaction. For example, both sides can work together to expand the export and import of African products into China, optimize China-Africa production capacity cooperation, and strengthen bilateral industrial supply chain.
China is embarking on a new journey of development and looking forward to join hands with the rest of the world, especially African countries with which it has maintained cooperation in a diverse range of areas. The joint construction of the Belt and Road Initiative and the Forum on China-Africa Cooperation (FOCAC) will continue to deepen friendly cooperation, fully release the new momentum of Africa’s economic development, and encourage countries to take practical measures to cope with risks and challenges.
We look forward to the two sides being able to write a new chapter in the history of their long-term economic and trade cooperation.
Li Xuewei is a Chinese reporter based in Nairobi, Kenya
