China has committed nearly 51 billion USD in funding to Africa over the next three years, with the goal of creating one million jobs, a move announced during the Forum on China-Africa Cooperation (FOCAC) Leaders’ Summit. The initiative, unveiled by President Xi Jinping, includes 10 partnership actions aimed at deepening cooperation. This includes opening China’s market to African countries and expanding ties through multilateral agreements.
China Daily reported that these actions would support African countries by expanding market access and fostering development. The move comes as China continues to strengthen its ties with Africa, with several bilateral and multilateral agreements being signed at the summit.
Both African and Chinese leaders have praised the strengthening of their relations, with President Xi describing the partnership as being at its best in history.
On the second day of the summit, China signed 17 cooperation agreements with Ethiopia, reinforcing the “all-weather comprehensive strategic cooperation” between the two countries. Prime Minister Abiy Ahmed (PhD) reiterated Ethiopia’s commitment to enhancing this partnership during a meeting with Chinese Premier Li Qiang. The agreements between the two countries focus on industrialization, infrastructure, and the digital economy, supported by the Belt and Road Initiative (BRI) and FOCAC frameworks. Premier Li also pledged to support Ethiopia’s talent development through educational programs and scholarship.
China is also broadening its economic relations with other African countries by offering zero-tariff treatment for 100% of their tariff lines, becoming the first developing country to do so. This policy is expected to boost African agricultural exports to and strengthen ties under the “China-Africa quality enhancement program.”
United Nations Secretary-General Antonio Guterres commended China-Africa cooperation as a vital pillar of South-South cooperation, though he emphasized the importance of continued responsibility from the global North. He also expressed hope that the partnership would create new momentum for African development.
South Africa, a key partner of China, also responded positively to the new partnership actions, with President Cyril Ramaphosa stating that the collaboration would help Africa implement the African Continental Free Trade Area. He noted that China-Africa relations are essential as the continent works to build a network of linkages between countries.
Kenya, another strong partner of China, thanked the latter for its support in infrastructure development. Kenyan President William Ruto, during his meeting with President Xi, expressed gratitude for China’s investment in Kenya’s national economy and expressed optimism for continued cooperation.
Many African leaders, including those from Ethiopia, Kenya, and South Africa, have voiced their readiness for the expanded cooperation that China has outlined through the Belt and Road Initiative and other development actions. China, the host of the FOCAC, is expected to enhance communication and collaboration with African nations at the continental, regional, and international levels.
BY YESUF ENDRIS
THE ETHIOPIAN HERALD SATURDAY 7 SEPTEMBER 2024
