Editor's note: Stephen Ndegwa, a special commentator on current affairs for CGTN, is the Executive Director of South-South Dialogues, a Nairobi-based communications development think tank. The article reflects the author's opinions and not necessarily the views of CGTN.

The China-Africa Economic and Trade Expo (CAETE) underway in Changsha, Hunan Province is one of the major dates in the biennial calendar of events undertaken by both partners. This is the third biennial CAETE, which this year runs from June 29 to July 2, after the first and second sessions held in June 2019 and September 2021, respectively.

The first two sessions resulted in the signing of 216 projects with a total investment of $43.02 billion. Although this is no mean feat even by international standards, it shows that China and Africa have barely realized their trade and economic potential.

It is time to look ahead. The theme for the third CAETE is "Common Development for a Shared Future," and has reportedly attracted 53 countries and many organizations. There are 1,500 exhibitors, an increase of 70 percent from the second expo.

The high-level cooperation forums of this year's event include infrastructure, sanitary and phytosanitary (SPS), healthcare development, agri-food supply chain, quality infrastructure connectivity, private sector, economic and trade cooperation in traditional Chinese medicine, and women.

Other promotion and business matchmaking events include those focusing on industrial parks, investment and trade in agri-food products, investment and trade in light industry products (fashion products), investment and trade in textiles and clothing. In addition, there will be high-level thematic seminars on the pilot zone for in-depth China-Africa economic and trade cooperation, digital economy, automobile industry, etc.

For the uninitiated, the comprehensive scenario depicted above is based on the spirit of the "Nine Programs" as outlined in the eighth Ministerial Conference of the Forum on China–Africa Cooperation (FOCAC) that was held in Dakar, Senegal in November 2021. The nine programs include aspects such as medical and health, poverty reduction and agricultural development, and trade promotion.

From the beginning, China has taken the onus of helping Africa to achieve holistic development. While initially the focus was on infrastructure, and rightly so in order to unlock the continent's potential, cooperation has now moved 180 degrees. Africa will always root for China's continued prosperity and socioeconomic transformation. The synergy between the two partners has transformed the continent's fortunes, creating millions of livelihoods by expanding the economic base in which the people invest.

According to data published by China's general customs office, trade between China and Africa reached $94.4 billion in the first four months of 2023, up by 8.9 percent compared to the same period the previous year. From January 1 to April 30 this year, exports from China to Africa rose by 26.9 percent year-on-year to stand at $58.9 billion.

African exports to China consist mainly of natural resources such as crude oil, copper, cobalt and iron ore, while the continent imports manufactured goods such as machinery, electronics and textiles from its largest bilateral trade partner. Although the trade surplus is evidently in favor of China, the gap is gradually closing as China continues to increase the continent's capacity in value addition particularly through foreign direct investment.

When it comes to soft power, both sides have enhanced mutual understanding and support on issues affecting each other's core interests and major concerns in the global arena, including promoting coordination on major international and regional issues. These efforts have allowed the two sides to defend not only their common interests, but also those of other developing countries.

China-Africa relations have entered into a new era. This is a factor of, firstly, a reaction to the changing socioeconomic and political fortunes in the world. The COVID-19 pandemic brought to the world new realities of how fragile our systems and structures can be when under extreme pressure. The two sides stood by each other both materially and morally, which helped them weather the storm fairly well compared to many other countries and regions.

Secondly, the face of geopolitics is changing rather fast as the balance of power tilts away from the traditional Western powers. The United States and Europe are ceding considerable ground to emerging powers in Asia, led by countries like China. The current socioeconomic and political upheavals in the West have created new centers of power where Africa believes its fortunes lie in the 21st century.

Political cooperation remains one of the areas with great potential that the two sides are exploring in earnest, as Africa seeks new political realities from its perennial challenges wrought by liberal democracy, China's "negotiated" and merit-based democratic leadership has become attractive. The two partners are increasing close exchanges between political parties, legislatures and advisory bodies. China is expanding exchanges and cooperation with African countries based on the principles of independence, equality, mutual respect and non-interference in each other's internal affairs.

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