FOCAC : trade, investments and aid in China-Africa relations
Under the label of South-South cooperation in the era of economic globalization, China has shown great interest in Africa. In 2000, to formalise bilateral engagement, minimise the discourses sur-rounding China’s relations with Africa and to strengthen Sino-African cooperation, Chinese and Afri-can leaders have established the Forum on China-Africa Cooperation (FOCAC/中非合作论坛). This was announced as the basis of a strategic partnership in the new millennium between China and Africa. To develop economic cooperation and trade ties is the centrepiece of the setting up of the forum. Since the late 1990s/early 2000 through China’s “go out” policy, Sino-African trade has experienced unprecedented growth. From a mere US$ 2 billion in 1999, Sino-African trade has now reached US$ 160 billion, making China a leading trade partner for Africa. China’s economic cooperation with Africa is also fuelled by investments and aid.