Africa, China relationship further strengthened by just concluded BRICS summit

The just concluded BRICS (Brazil, Russia, India, China, South Africa) summit concluded in Durban, South Africa calls for stronger partnerships, integration and industrialization to tackle various development challenges facing Africa.

At the March 26-27 meeting, China, represented by new President Xi Jinping promised a new development roadmap for Africa through four key focus areas, namely: the promotion of African infrastructure development, the establishment of a BRICS development bank, a BRICS think-tank and a BRICS business council.

Trade volume between China and Africa has risen from approximately US$6.5 billion in 1999 to US$160 billion in 2011, with investments amounting to US$13 billion in 2011.

The BRICS bloc represents 43 percent of world’s population, which translates to approximately one-fifth of global Gross Domestic Product (GDP), estimated at US$13.7 trillion and combined foreign reserves of about US$4.4 trillion. In 2012, BRICS countries accounted for approximately 11 percent of global annual foreign direct investment (FDI) flows (US$465 billion) and 17 percent of world trade.

The rapid growth of the Africa-China relationship in the past decade is one of the most significant international developments. The history of the relationship traces back to early 1950s with the establishment of diplomatic relations between China and Egypt in 1956. Since then, China and Africa have become major strategic partners, with the two sides understanding, supporting and helping each other. At present, 49 out of Africa’s 54 countries have established diplomatic ties with China.

Read more: AfricaNews