BRI NEWS Kenyan expert lauds FOCAC summit for achieving tangible results

BRI NEWS

Kenyan expert lauds FOCAC summit for achieving tangible results

Xinhua

06:56, September 15, 2018

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The roundtable meeting of the 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) was held at the Great Hall of the People in Beijing, capital of China, Sept. 4, 2018. (Photo: Xinhua)

NAIROBI, Sept. 14 (Xinhua) -- The 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) had achieved phenomenal successes that are mutually beneficial and long-lasting, a Kenyan expert said.

Gerishon Ikiara, an economics lecturer at the University of Nairobi, said this year's FOCAC summit injected vitality in the diplomatic, economic and trade ties between Beijing and its partners in Africa.

He noted that a large turnout of African leaders who made positive speeches at the FOCAC Beijing summit was a confirmation it had become a crucial platform to promote the continent's development agenda.

At the summit, China announced to extend 60 billion US dollars of financing to Africa in the form of government assistance as well as investment and financing by financial institutions and companies.

Ikiara said the announcement was a clear indication that China-Africa economic and trade cooperation will continue to grow in the coming decades.

The former permanent secretary for transport and communications of Kenya hailed China's pledge to expand two-way trade with Africa while supporting the continent's industrialization agenda.

He was optimistic about the China-proposed Belt and Road Initiative that has been embraced by many African countries, saying it will catalyze the continent's economic take-off through enhanced trade and connectivity.

"Effective implementation of the Belt and Road Initiative is expected to transform African economies by uplifting their participation in the global trade," said Ikiara.

"This initiative is already playing an important role in strengthening China-Africa links in many dimensions," he added.

Ikiara noted that the FOCAC has delivered immense benefits since its establishment.

"The Chinese policy of cooperating with Africa and other developing countries without political, economic or other ties has continued to establish cooperation with strong roots based on friendship and mutual respect to help create a conducive environment for a mutually better shared future in terms of socioeconomic benefits," Ikiara said.

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