The AAGC foresees Africa’s integration with India, South Asia, Southeast Asia, East Asia and Oceania. The AAGC contemplates four major pillars to bring peoples, goods, services, capital and institutions closer together, realizing the objective of Asia Africa partnership for sustainable and innovative development. The four pillars of AAGC are:
- Development and Cooperation Projects
- Quality Infrastructure and Institutional
- Connectivity Enhancing Capacities and Skills
- People-to-people Partnership
These will facilitate and enhance economic growth by linking economies in Asia and Africa through development of institutional and human capacity, connecting institutions and people, capacities for planning and execution of projects, trade facilitation, human resource development and technology improvement, and infrastructure (port, airport, industrial park, telecommunication, IT, etc.) of the two continents. The emphasis of the AAGC is on capacity building and expanding the manufacturing base and trade between Africa and Asia. The idea is to transform the region into a Growth Corridor which would embed the development processes and value chains in Africa and Asia. It will enable these economies to further integrate and collectively emerge as a globally competitive economic bloc. In order to align with Agenda 2030, green projects would get priority funding and implementation.
Asian businesses are participating extensively in the global production network and supply chains and are spread between East Asia, Southeast Asia upto South Asia. The AAGC will provide a rich opportunity for these production networks to expand and spread into Africa.