Business
VISAJET has brought business leaders, heads of state and governments together at one of the world’s largest forums in the 9th Forum of China-Africa Cooperation (FOCAC) in Beijing, held from September 4 to 6.
The FOCAC summit, which meets once every three years alternating between China and Africa, aims to expand and deepen the China-Africa cooperation and relationship.
According to the International Monetary Fund (IMF), China has become Africa’s largest trading partner under programs such as the Belt and Road Initiative.
Around 20 per cent of the region’s exports now go to China and about 16 per cent of Africa’s imports come from China. This amounted to a record high of $282 billion in total trade volume in 2023.
Growing the private aviation network in both China and Africa, VistaJet plays a crucial role to foster business ties and help drive mutually beneficial economic growth and development in the regions.
During this year’s FOCAC, China further amplified its commitment to the development of Africa by pledging China’s support across Africa with a funding of nearly $51 billion over the next three years, backing for more infrastructure projects, and the creation of at least 1 million jobs. Similarly, the second Indonesia-Africa Forum was held in Bali in early September, where Indonesia successfully recorded 32 business partnerships with a total value of over $3.5 billion, demonstrating the growing relationship between Asia and Africa.
Culled from This Day
13th September, 2024.
C.E.
Tags: Forum of China-Africa Cooperation IMF International Monetary Fund
