Presentation by the Managing Director of HESPI at the China - Africa Institute on the cooperation between China and the Horn of Africa: in the context of FOCAC and Belt & Road Initiative
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On December 23, 2020, Dr. Ali Issa, The Managing Director of HESPI, made a presentation at the China Africa Institute virtual seminar on the Occasion of the 20th anniversary of the Forum on China-Africa Cooperation (FOCAC) to discuss the economic, trade and finance cooperation between China and Africa over the past two decades and since the Forum on China-Africa Cooperation (FOCAC) was established, as well as the more recent contributions of the Belt and Road Initiatives in Africa. The multifaceted development cooperation has boosted trade and investment between the partners, and thus trade between china and Africa increased to $208 billion in 2019, and total Chinese FDI in Africa reached $49 billion during the same year, and more than $200 billion has been generated in financial resources for development projects as of end 2019.
Over the past two decades or so, China has emerged as a credible partner of Africa as a source of investment and finance, technology and entrepreneurship, as well as trade and access to each other’s markets, and capacity building support. The full extent of the opportunities, limitations and challenges of Chinese investment and financing, and its role and Impact on economic growth and inclusive development in the Horn of Africa (HoA) requires considerable assessment, review and study.