Globalization is making the world a smaller, busier planet for exporters encountering unexpected challenges as they move into new, promising markets. That dynamic between surging trade and required adaptation to local factors is perhaps most evident within booming business between Asian and African nations.
Trade between African and Asian countries has increased rapidly in recent years, reflecting a synergy between two of the world’s fastest growing economic regions. Foreign Direct Investment (FDI) and trade between Asia-Pacific and Africa jumped from just $2.8 billion in 1990 to around $300 today and are expected to surpass $1.5 trillion by 2020.
Looking at this growing economic boom and a promising trade-commerce among these two continents, in the year 2015, the governing council of ICCA and CIHF represented by Dr G D Singh, Founder & President, CIHF (Confederation of International Healthcare Foundation) and High Prince of Nigeria, HH Babalola – Past President and Present Patron of Institute of Company and Commercial Accountants of Nigeria (ICCA) decided to form Asian-African Chamber of Commerce & Industry (AACCI) to strengthen the trade relationship between both the continents.
The Asian Secretariat Hub of Asian-African Chamber of Commerce & Industry is founded and affiliated with CIHF (Confederation of International Healthcare Foundation) established and registered under B.P.T. Act XXIX of 1950, Government of India, since 2005. It was founded originally conceptualized in 2015 by the presidents/representatives of various Commerce Chambers and professionals of high repute from the entire Asian-African region with a view to giving the business community of both this region a voice and a tool to foster development and realize UN Sustainable Development Goals 2030.
The African Secretariat Hub of Asian-African Chamber of Commerce & Industry is founded and affiliated with ICCA incorporated under the Companies & Allied Matters Act 1990, as amended by Cap 20 of Law of Federation 2004 (Limited by Guaranttee) to the glory of God and the benefits/services of mankind.
AACCI Foundation is now registered in the state of Delaware, USA as a private, non-stock corporation to act as a trade & business promoting chamber supporting SMEs and industries by means of representing them as bilateral chamber for the Asian and African region and help them to build better economic growth and sustainable business. This corporation is organized exclusively for charitable, religious or educational purposes within the meaning of section 501 (c) (3) of the Internal Revenue Code.