The president will co-chair the dialogue between Beijing and Africa with his South African counterpart, Cyril Ramaphosa, as part of the parallel events at the end of the 15th BRICS Summit.

The bloc is discussing expanding the membership of the BRICS-backed New Development Bank, which also hopes to establish financial sector partnerships with more African nations.

China’s trade with Africa reported constant growth in the first seven months of the year, reaching 158,036 million dollars between January and July.

China has remained Africa’s largest trading partner in the past decade, with bilateral trade increasing 14.8 percent year-on-year in 2022, hence the importance for both parties of finding a de-dollarized form of transaction, especially given the escalation of the US economic and trade war against China.

Xi Jinping assured on Wednesday during his speech at the Summit that the BRICS should be an example of inclusion, and expansion allowing the incorporation of other developing countries. He also advocated for the raising of a joint voice against those who want to create exclusive groups and maintain the Cold War mentality.

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