Forum on China-Africa Co-operation
The Forum for China-Africa Cooperation (FOCAC) is a multilateral platform for collective, pragmatic consultation and dialogue established jointly by Chinese and African leaders in order to further strengthen the friendly cooperation between China and Africa under the new circumstances, to jointly meet the challenge of economic globalization and to promote common development.
52 heads of state from the African continent engage with various captains of industry from China to map out investment deals for their countries.The gathering of African leaders and the Chinese delegation at the 6th Forum of China-Africa cooperation (FOCAC) is the most pivotal business investment.
The pledges/agreements and outcomes of meetings
China and African leaders have described the recently concluded China-Africa summit as a resounding success, vowed to strengthen their relations both economically and politically.China announced a R860-billion project that will go towards infrastructure projects on the continent, a move warmly welcomed by the continent's leadership.
The Forum on China-Africa Co-operation ,the specificity of FOCAC is importance in Africa is strengthen the trading relations and to create a well-developed business relationship. The regional economic blocks and the continent are also part and parcel of the FOCAC process. Africa should be better prepared when dealing with the FOCAC process at the national and regional levels. The main role for the Forum on China and Africa Co-operation (Focac) processes is to establish trade relations. Africa and China met to talk about the rapid development of trade and investment between China and Africa which has necessitated the establishment of a China-Africa Dispute Resolution Mechanism. The trade agreement gives an economic stability to the partnership that has been created for business and trade opportunities.The China-Africa Forum has further strengthened strong ties between the Asian power house and the continent.