Industry leaders have suggested that China and African countries, represented by African Union, should launch a feasibility study on free trade and investment facilitation negotiation to completing the detailed text of their investment plan before their next summit, and guarantee high-level standards for trade and investment facilitation by 2025.
The recent developments in Africa and the rest of the world could prompt China and Africa to consider more ambitious trade and investment plans. Early this year, African leaders met in Rwanda and signed the agreement for establishing the African Continental FTA, which is a landmark pact that could promote African integration amid the de-globalisation, isolationist, protectionist policies being adopted and the bullying tactics used by certain economies. If China and the African countries keep sending such positive trade and economic signals by inking an FTA, they would inject new vitality into the global economy. Such an FTA would be a concrete step toward achieving the goal of mutual prosperity by institutionalising Sino-African economic activities.