Today, September 4, the Forum on China-Africa Cooperation (FOCAC 2024) Summit took place in Beijing, China.
This is the largest diplomatic event with the largest number of foreign leaders that China has hosted in recent years. According to the Chinese Foreign Ministry, Chinese President Xi Jinping will attend and deliver an important speech at the opening ceremony of the conference.
FOCAC 2024 revolves around the themes of “Governance and Administration”, “Agricultural Industrialization and Modernization”, “ Peace and Security” and “Jointly Building a High-Quality Belt and Road”. These major themes reflect the common concerns and expectations of China and Africa for the process of modernization development, and are also the main directions for building China-Africa cooperation in the new era, aiming to create stronger momentum for building a high-level China-Africa community of shared future.
After a lull due to the Covid-19 pandemic, China’s flagship economic cooperation program has resumed with Africa as a major focus. Chinese leaders have pledged to launch new construction projects and boost two-way trade to support the continent’s modernization and promote mutually beneficial cooperation.
According to the Griffith Asia Institute at Australia's Griffith University, new Chinese investment in Africa increased by 114% last year, focusing mainly on minerals needed for the global energy transition and plans to revive the economy.
According to data from China Customs, two-way trade reached a record $282 billion in 2023, but at the same time, the value of African exports to China fell by 7%, mainly due to falling oil prices.
Professor Song Wei, School of International Relations and Diplomacy at Beijing Foreign Studies University, believes that through FOCAC, the friendship between China and Africa will deepen. Chinese President Xi Jinping has also affirmed that China regards Africa as a top priority in its diplomatic activities. China is willing to pursue greater achievements in various fields in cooperation with the African Union and take the China-Africa community with a shared future to a new level.
THANH HANG
Source: https://www.sggp.org.vn/uu-tien-chien-luoc-post757058.html
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