By Edozie Obasi-Eze
As part of efforts to boost trade and harness business opportunities cum relationships between parties on both continents, leading businessmen from Asia and Africa have formed the Asia-Africa Chamber of Commerce (AACC).
Chairman of the AACC, in Malaysia, RJ. Liow, said, “Malaysian and Asian exporters should not lose sight of the US$3.4 trillion market that Africa, via Africa Continental Free Trade Area (AfCFTA), has to offer.”
In an electronically transmitted statement, the AACC revealed that the, “AACC is officially approved and registered with the Registrar of Societies in Malaysia, an agency under the Ministry of Home Affairs in Malaysia on November 5, 2021, with the main goal of being a world class reference point, and an NGO that promotes and facilitates the trade between Asia and Africa.”
Liow added that they would encourage female participation in business among other objectives.
“AACC aims to translate economic co-operation into increased in disposable income with women and youth as prioritised end beneficiaries,” Liow said.
He pointed out that Asia and Africa are the two largest continents in the world with a combined population of 6 billion, which is 75 per cent of the world’s population, and contributing 40 per cent of the world GDP.
“AACC aims to be a trusted Centre of Facilitation for trade and investment opportunities between Asia and Africa, working on needs driven from local countries/cities as priority, with underlying commitment to building sustainable corporate social responsibilities in the process.
“We earmarked Africa as this amazing market is still under explored by Malaysian and Asian exporters mainly due to lack of a safe and secured channel. AACC knows what their pains are, and we can help them,” said Prince Ayinla, Africa President of AACC.
In addition, the AACC noted that recent interruption of global supply chains has reinforced the necessity for closer economic integration especially amongst Asia and Africa. AACC is also stepping up, and taking on the challenges to facilitate as well as promote the trade and investments between the two largest continents in the world.
The AACC has opened access to Entrepreneurs, SMEs and MNCs that wish to explore a safe and secured platform to the African markets and vice versa. To this effect, AACC may be contacted via www.1aacc.org.