FOCAC responsible for $280bn Trade to Africa, says Tinubu

President Bola Tinubu says the Forum on China-Africa Cooperation (FOCAC) has been instrumental to the flourishing Economic Partnership and Trade between Africa and China, which has grown to about $280bn.

Tinubu said this in his Opening Remarks at the the 2024 FOCAC Summit holding in Beijing, China, from September 4 to September 6.

He said the establishment of FOCAC in 2000 had been pivotal in strengthening Economic Ties and reaffirming the commitment of China and African Countries to mutual progress.

He said one of the highest points of the Collaboration between Africa and China was the flourishing Economic Partnership and Trade between Africa and China, which had grown to about $280bn.

According to him, this impressive figures speak volumes about the extent of the Economic Relationship and expanding integration of African and Chinese Markets.

He also said the China-African Relationship was built on a Foundation of 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, Diplomatic, 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.

“The Partnership is not only about shared History, it is driven by a bold collective Vision for the future. By pulling our Strength and Resources, we can unlock unprecedented level of Growth and Development for our Nations,” said Tinubu.

The Nigerian Leader said the Africa and China Relationship was a Bond that had not only endured but grown stronger since its inception in the early 50s.

“This Relationship has transcended Continental challenges and become a true testament to the power of mutual respect and cooperation.

“What began as a China support for African Nations at Independence has evolved into a rich, multifaceted Partnership spanning Trade, Investment and Diplomacy,” he said.

He said China had consistently demonstrated its commitment to Africa, not only through Financial and Developmental Support, but also through Cultural Changes that brought China and African Countries closer. 

Credit NAN: Texts excluding Headline