Trade between African and Asia flourishes on the back of the US-China trade wars!
Africa leads in Air Cargo following data gathered from the International Air Transport Association’s (IATA) latest data for global air freight markets showed a 19.8 per cent growth rate in air freight traffic on the African continent for the November 2019 period.
Africa’s growth is being championed by the strong trade and investment links with Asia, which is being driven by China. More so, the Chinese government is opening the African continent to trade with the numerous infrastructure investments within the continent. From Lagos to Nairobi, Chinese finance is growing the global competitiveness of Africa as a trade partner. Above all, Africa’s regional trade blocs can boast of state-of-the-art airports, sea ports, rail and road networks. These developmental activities are the catalyst for enhancing trade within the continent as Africa leads in Air Cargo.
Indeed, these are the dividends for the belts and roads initiative launched in 2013 by the Chinese Government. The initiative aims to strengthen China’s connectivity with the world. For instance, China’s President Xi Jinping speaking at the first Belt and Road Forum in May 2017, noted that,
“In pursuing the Belt and Road Initiative, we should focus on the fundamental issue of development, release the growth potential of various countries and achieve economic integration and interconnected development and deliver benefits to all.”
As the world struggles with a decline in global freight volumes for 13 consecutive months, Africa continues to soar higher!