Speaking at the opening ceremony of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) at the Great Hall of the People in Beijing, Tinubu highlighted the success of the China-Africa partnership as a model for sustainable development and shared prosperity.
He noted that the partnership is driven by a bold vision for the future, adding that by working together, Africa and China could unlock unprecedented levels of development for their respective peoples.
Cooperation, he noted, is key to solving global challenges and that the China-Africa partnership is built on trust, mutual respect, and the pursuit of common goals.
Tinubu also called for the sustenance of the momentum of cooperation and emphasised the need for peaceful dialogue, transparent business practices and diplomatic conflict resolution in deepening the bond between Africa and China.
He expressed optimism that the partnership would continue to benefit both regions, as it is driven by a bold collective vision for the future.
“The success of FOCAC and our broader partnership emphasise the important truth that global progress is not a zero-sum game. By working together, joining hands and looking for win-win solutions, we create opportunities for sustainable development and shared prosperity. Our joint efforts reinforce a vision for a multi-polar world where diverse perspectives are embraced, and where cooperation is key to solving global challenges.
“At the heart of China-Africa relations is a foundation built on trust, mutual respect and the pursuit of common goals. As we look to the future, we must maintain the momentum. Peaceful dialogue, transparent business practices and diplomatic conflict resolution remain 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. Together, we can unlock an unprecedented level of growth for our nations,” the President said.
Congratulating earlier speakers, particularly the Co-chair of FOCAC, President Bassirou Faye of Senegal, for their contributions to the partnership, Tinubu highlighted the defining moments of the partnership, including China’s consistent commitment to Africa through financial and developmental support, cultural exchanges, and the establishment of FOCAC in 2000.
According to him, the partnership has stood firm despite global challenges, offering a powerful example of what can be achieved through respect for sovereignty and non-interference in the internal politics of other nations.
The President also highlighted the flourishing economic partnership between Africa and China, with trade reaching an estimated $280 billion, and expressed optimism about the alignment of China’s Belt and Road Initiative with Africa’s infrastructure goals.
President Xi said: “China appreciates its ties with African nations” and tha
t Africa and his country should rally their populations together to become a powerful force and write a new chapter in global peace, prosperity and progress.
The Chinese leader also pledged another $280 million in aid to African countries while proposing partnership actions to jointly advance modernisation with Africa.
The 10 actions, to be implemented in the next three years, Xi noted, cover areas of mutual learning among civilisations, trade prosperity, industrial chain cooperation, connectivity, development cooperation, health, agriculture and livelihoods, people-to-people and cultural exchanges, green economic development and common security.
“To implement the 10 partnership actions, the Chinese government will provide RMB360 billion yuan of financial support through the next three years. ‘’This breaks down into RMB210 billion yuan of credit lines, RMB80 billion yuan of assistance in various forms, and at least RMB70 billion yuan of investment in Africa by Chinese companies.
‘’In addition, China will encourage and support Africa in issuing panda bonds in China to enhance our result-oriented cooperation in all areas,” he said.
Xi proposed that the overall characterisation of China-Africa relations be elevated to an all-weather China-Africa community with a shared future for the new era.
‘’Thanks to nearly 70 years of tireless efforts from both sides, the China-Africa relationship is now at its best in history.
‘’With its future growth in mind, I propose that bilateral relations between China and all African countries be elevated to the level of strategic relations, and that the overall characterisation of China-Africa relations be elevated to an all-weather China-Africa community with a shared future for the new era,’’ Xi stated.
