African Continental Free Trade Area

China’s Belt and Road Initiative turns 10: Xi announces 8 new priorities, continues push for global influence

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Thursday, October 26, 2023
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President Xi Jinping launched it in 2013 with a first speech in Kazakhstan and a second one in Indonesia.

Key Points: 
  • President Xi Jinping launched it in 2013 with a first speech in Kazakhstan and a second one in Indonesia.
  • The Kazakhstan speech outlined five elements of the “Belt”: strengthening policy communication; road connectivity; currency circulation; people-to-people ties; and promoting unimpeded trade.
  • As an economist with a keen interest in the political economy of China-Africa relations, I have studied the Belt and Road Initiative since its inception.
  • Much is made of a fall in spending on the Belt and Road Initiative.
  • Xi’s announcement at this year’s forum offered old and new news for the Belt and Road Initiative and its signatories.

Comparing promises 10 years on


Xi made eight major commitments at the October 2023 forum. More than half of these draw directly from the policy focus areas announced a decade ago.
Xi promised to build a multidimensional Belt and Road connectivity. He referred to roads, rail, port and air transport and related logistics and trade corridors.
He promised to open China’s economy more to the world. Higher trade levels would be one way. Alongside a new emphasis on the digital economy, Xi added that China would establish pilot zones for e-commerce-based cooperation. In Africa, a guide to those may be provided by the two existing digital commerce hubs set up by Alibaba in Ethiopia and Rwanda under its electronic World Trade Platform Initiative.
He spoke of “practical cooperation”. This seems to refer to financing for expensive infrastructure projects, smaller livelihood projects and technical and vocational training. This has an aspect of crossover with currency circulation, people-to-people ties, unimpeded trade and more.
Xi’s recent speech also promised to support people-to-people exchanges. This is a direct take from the first launch speech of 2013. But he added detail about establishing arts and culture alliances. Also that China would host a “Liangzhu Forum” to enhance dialogue on civilisation.
Finally, in line with the earlier commitment to elevated policy dialogue, Xi promised to strengthen institutional building for international Belt and Road Initiative cooperation. This relates to building platforms for cooperation in energy, taxation, finance, green development, disaster reduction, anti-corruption, think-tanks, media, culture, and other fields.

  • Beyond the promises made in Xi’s speech to this year’s forum, elevated funding for China’s policy banks was announced.
  • Further, agreements made between participants also signal commitment to the original principles of the Belt and Road Initiative.

New promises


There are three new policy promises added to those of a decade ago.
China will promote green development, including green infrastructure, green energy, and green transportation. It will hold a Belt and Road Initiative Green Innovation Conference and establish a network of experts. China also promised to provide 100,000 training opportunities in areas of green development.
China will continue to advance scientific and technological innovation. It will hold a conference on Science and Technology Exchange, and increase the number of joint laboratories that support exchange and training for young scientists. Xi also promised that China would propose a Global Initiative for Artificial Intelligence Governance, and promote secure artificial intelligence development.
China will promote integrity-based cooperation. This would include publishing details of Belt and Road achievements and prospects, and establishing a system of evaluating compliance.
These new areas are of increasing economic importance to China, amid rapid population ageing especially, and competition with high-income countries.

The future

  • There was more detail especially on people-to-people ties and on areas of policy dialogue to be fostered.
  • He added some new areas such as artificial intelligence governance, green development, e-commerce, and greater emphasis on scientific and tech cooperation.
  • Comparing the new policy signals with the earlier ones implies that the initiative is by design adaptable.


Lauren Johnston does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Africa's total exports expected to hit close to USD1 trillion by 2035, Standard Chartered report reveals

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Wednesday, October 11, 2023
African Continental Free Trade Area, Sustainable Development Goals, African Union, Collaboration, Standard Chartered, Oil futures drunk-trading incident, USD, Guarantee of origin, Transport, Digitalization, Economic development, Progress, African, Regional Economic Communities, Growth, Region, Cohesion, SCF, AU, Drug, Renewable energy, Cryptocurrency

The report finds that Africa's total exports will reach USD952 billion by 2035 and the AfCFTA, once fully implemented, has the potential to increase this figure by a further 29 per cent.

Key Points: 
  • The report finds that Africa's total exports will reach USD952 billion by 2035 and the AfCFTA, once fully implemented, has the potential to increase this figure by a further 29 per cent.
  • Intra-Africa trade is expected to reach USD 140 bn by 2035, equating to 15 pe rcent of Africa's total exports.
  • Africa's corridors with some of the world's most dynamic regions will grow faster than the global average of 4.3 per cent.
  • For over 150 years, Standard Chartered has supported Africa's growth and progress, actively contributing to the continent's infrastructure development and economic advancement.

Africa's total exports expected to hit close to USD1 trillion by 2035, Standard Chartered report reveals

Retrieved on: 
Wednesday, October 11, 2023
African Continental Free Trade Area, Sustainable Development Goals, African Union, Collaboration, Standard Chartered, Oil futures drunk-trading incident, USD, Guarantee of origin, Transport, Digitalization, Economic development, Progress, African, Regional Economic Communities, Growth, Region, Cohesion, SCF, AU, Drug, Renewable energy, Cryptocurrency

The report finds that Africa's total exports will reach USD952 billion by 2035 and the AfCFTA, once fully implemented, has the potential to increase this figure by a further 29 per cent.

Key Points: 
  • The report finds that Africa's total exports will reach USD952 billion by 2035 and the AfCFTA, once fully implemented, has the potential to increase this figure by a further 29 per cent.
  • Intra-Africa trade is expected to reach USD 140 bn by 2035, equating to 15 pe rcent of Africa's total exports.
  • Africa's corridors with some of the world's most dynamic regions will grow faster than the global average of 4.3 per cent.
  • For over 150 years, Standard Chartered has supported Africa's growth and progress, actively contributing to the continent's infrastructure development and economic advancement.

AFRICA MEETS KOREA IN PARIS FOR LANDMARK BUSINESS SUMMIT

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Thursday, September 14, 2023
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Top policymakers and business leaders from Africa and the Republic of Korea gathered in Paris on Tuesday to discuss regional integration, industrial productivity and ways to further economic growth and cooperation.

Key Points: 
  • Top policymakers and business leaders from Africa and the Republic of Korea gathered in Paris on Tuesday to discuss regional integration, industrial productivity and ways to further economic growth and cooperation.
  • The theme for the business summit was 'Africa-Korean partnership in an era of great transformation.'
  • The Korean government plans to host the Korea-Africa Summit in 2024 in Korea.
  • Also, Mr. Choi mentioned 2024 Korea-Africa Summit and urged Africa to support 2030 Busan EXPO which would be a significant business opportunity to Africa.

EQS-News: The African Energy Chamber (AEC) Urges African Union (AU) and the Africa Climate Summit to Prioritize Labeling Natural Gas and Nuclear as Green Energy/Renewable

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Wednesday, September 6, 2023
Energy policy of the European Union, Liquefied natural gas, AU, African Energy Chamber, African Markets Overview, Policy, Agenda 2063, Electricity, Domestication, Human, African Continental Free Trade Area, African Energy Commission, Implementation, Nuclear energy, Investment, Cooking, Natural gas, European, African Union, AEC, News, Security (finance), Renewable energy, EU, African, LNG

In line with the European Union's 2022 announcement, the African Union should similarly designate natural gas and nuclear energy as environmentally friendly, thus creating a pathway for greater investment in these essential African resources.

Key Points: 
  • In line with the European Union's 2022 announcement, the African Union should similarly designate natural gas and nuclear energy as environmentally friendly, thus creating a pathway for greater investment in these essential African resources.
  • Representing the voice of the African energy sector, the African Energy Chamber (AEC) ( http://www.EnergyChamber.org ) has long-been a fierce advocate for the role oil and gas plays in Africa.
  • The AEC calls on the African Union (AU) to align policies with demand, embracing gas and nuclear energy as green solutions, as the European Union (EU) has for its own continent.
  • Africa has abundant natural gas resources: a sustainable energy solution lying in arms reach of many countries continent-wide.

Plural Expands Services to Africa to Help Fast-Track Economic Growth Through Access to Public Policy Data

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Tuesday, August 29, 2023
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ATLANTA, Aug. 29, 2023 /PRNewswire/ -- Plural, an artificial intelligence (AI)-powered policy tracking platform, today announced its expansion into Africa to enable access to public policy data across various African jurisdictions starting with Nigeria and South Africa. In June 2023, Plural began collaborating with a local network organization, Afrilabs, to help refine the platform and spur the region's economic growth, create political change, simplify increasing regulatory complexity, develop ongoing digital transformation and stimulate transparency and cross-border business expansion.

Key Points: 
  • Plural enables its users to understand and participate in how policies are evolving with its public policy data, which is significant for making informed business decisions and fast-tracking economic growth.
  • With its all-in-one AI-powered offering, Plural can also help field:
    Political Evolution: As more countries move toward democratic governance, there's an increase in legislative activity.
  • Plural, with its focus on monitoring, tracking and collaborating on public policy, provides an essential service in helping move politics forward.
  • "In many African nations, access to policy data isn't as seamless as in the U.S. or EU.

Gemcorp, Africa Finance Corporation and Afreximbank announce the financial close of Cabinda Oil Refinery with a US$335-million project financing facility

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Thursday, July 13, 2023
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LONDON and CAIRO, Egypt and LAGOS, Nigeria, July 13, 2023 (GLOBE NEWSWIRE) -- Gemcorp Holdings Limited (GHL), Africa Finance Corporation (AFC) and African Export-Import Bank (Afreximbank) are pleased to announce the financial close of the Cabinda Oil Refinery in Angola.

Key Points: 
  • LONDON and CAIRO, Egypt and LAGOS, Nigeria, July 13, 2023 (GLOBE NEWSWIRE) -- Gemcorp Holdings Limited (GHL), Africa Finance Corporation (AFC) and African Export-Import Bank (Afreximbank) are pleased to announce the financial close of the Cabinda Oil Refinery in Angola.
  • Other lenders also contributing to the project financing facility include The Industrial Development Corporation (IDC) of South Africa, The Arab Bank for the Economic Development in Africa (BADEA) and Banco de Fomento Angola (BFA).
  • Gemcorp Chief Executive Officer, Atanas Bostandjiev said, “We are extremely excited to be making this investment in the Cabinda Oil Refinery.
  • Africa Finance Corporation (AFC) was established in 2007 to be the catalyst for private sector-led infrastructure investment across Africa.

Global Port and Handling Equipment Tire Market 2023: Increasing Investments in Port Infrastructure and Logistics Bolsters Growth - ResearchAndMarkets.com

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Wednesday, June 14, 2023
Tires & Rubber, Transport, Logistics, Supply Chain Management, Automotive, Government, African Continental Free Trade Area, Growth, Investment, Car, Heavy equipment, Warehouse

The port and handling equipment tire market is a sub-segment of the global tire market, which caters specifically to the material handling equipment used in ports, warehouses, and logistics centers.

Key Points: 
  • The port and handling equipment tire market is a sub-segment of the global tire market, which caters specifically to the material handling equipment used in ports, warehouses, and logistics centers.
  • The market growth is attributed to increasing investments in port infrastructure and logistics, rising demand for material handling equipment, and increasing trade activities across the globe.
  • One of the major drivers of the port and handling equipment tire market is the increasing investments in port infrastructure and logistics.
  • Another key driver of the port and handling equipment tire market is the rising demand for material handling equipment.

Merck Highlights Commitment to Improving Cancer Outcomes at ASCO 2023

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Thursday, May 25, 2023
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Merck, a leading science and technology company, today announced that 43 abstracts covering several modalities and mechanisms will be presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting, June 2-6, Chicago, Ill., US.

Key Points: 
  • Merck, a leading science and technology company, today announced that 43 abstracts covering several modalities and mechanisms will be presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting, June 2-6, Chicago, Ill., US.
  • “The research we will present at ASCO 2023 demonstrates that we are not only maximizing the impact of our standard-of-care treatments but also advancing development programs focused on synergistic approaches targeting key cancer pathways and mechanisms,” said Victoria Zazulina, M.D., Head of Development Unit, Oncology, for the Healthcare business of Merck.
  • This study is assessing xevinapant plus RT in patients with resected, high-risk LA SCCHN who are not eligible for cisplatin.
  • Additional presentations for TEPMETKO include analyses from the INSIGHT 2 study in EGFRm METamp NSCLC for patients treated with TEPMETKO plus osimertinib.

EMD Serono Highlights Commitment to Improving Cancer Outcomes at ASCO 2023

Retrieved on: 
Thursday, May 25, 2023
Oncology, Health, Clinical Trials, Research, Science, Pharmaceutical, Biotechnology, Carcinoma, Abstract, Abstract (summary), Maintenance, FRCP, INSIGHT, Fighter Interception Development Unit RAF, Health care, Survival, Cancer, Royal Marsden Hospital, Merck Group, Head, NSCLC, Cisplatin, Lung cancer, Neck, Doctor of Philosophy, Continental, The Royal Marsden NHS Foundation Trust, ASCO, FRCR, American Society of Clinical Oncology, UC, Patient, Apoptosis, Annual general meeting, MET, IAP, LA, Merck, Institute of Cancer Research, African Continental Free Trade Area, Merck Serono, Phase, RT, Society, Avelumab, Safety, Pharmaceutical industry

EMD Serono, the Healthcare business of Merck KGaA, Darmstadt, Germany in the US and Canada, today announced that 43 abstracts covering several modalities and mechanisms will be presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting, June 2-6, Chicago.

Key Points: 
  • EMD Serono, the Healthcare business of Merck KGaA, Darmstadt, Germany in the US and Canada, today announced that 43 abstracts covering several modalities and mechanisms will be presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting, June 2-6, Chicago.
  • This study is assessing xevinapant plus RT in patients with resected, high-risk LA SCCHN who are not eligible for cisplatin.
  • Additional presentations for TEPMETKO include analyses from the INSIGHT 2 study in EGFRm METamp NSCLC for patients treated with TEPMETKO plus osimertinib.
  • In addition to the data being presented at ASCO 2023, EMD Serono will launch a new educational initiative for oncology professionals on the unmet medical need in LA SCCHN, cancer’s resistance to apoptosis, and the role of apoptosis proteins.