By Ayomide Otitoju
President Bola Tinubu has lauded the flourishing economic ties between Africa and China, with trade between the two regions now reaching an estimated $280 billion. Speaking at the opening ceremony of the 2024 Forum on China-Africa Cooperation (FOCAC) summit in Beijing, Tinubu highlighted the resilience of the partnership despite global challenges.
“Since the establishment of FOCAC in 2000, this platform has been instrumental in bolstering our economic relations and reaffirming our commitment to mutual progress,” Tinubu stated.
He emphasized the importance of maintaining momentum to further deepen the partnership for the mutual benefit of both regions. “Despite the global challenges, whether economic or geographical, our partnership has remained firm and resolute, offering a powerful example of what can be achieved through respect for sovereignty and non-interference,” he added.
Tinubu also pointed to the exponential growth in trade between Africa and China, which now stands at an impressive $280 billion, highlighting the economic strength of the relationship and the expanding integration of African markets.
The summit, hosted in Beijing, has drawn more than 50 African leaders and UN Secretary-General Antonio Guterres. Chinese President Xi Jinping has pledged over $50 billion in financing for Africa over the next three years, promising deeper cooperation in infrastructure and trade. This marks Beijing’s largest diplomatic gathering since the pandemic, underscoring China’s commitment to strengthening ties with Africa.
