Asia-Africa Growth Corridor [AAGC]

Asia-Africa Growth Corridor is an intergovernmental agreement between India, Japan, and some African countries. According to this agreement, India and Japan will collaborate to develop infrastructure in African countries. The Asia-Africa Growth Corridor plan was first discussed in 2016 between Prime Minister Narendra Modi and Prime Minister Shinzo Abe.

Some of the sectors that this project will target include agriculture, health and pharmaceuticals, disaster management, and agro-processing. In this article, we have shared all the details about the Asia-Africa Growth Corridor.

What is the Asia-Africa Growth Corridor?

In November 2016, PM Narendra Modi visited Japan, and the idea of the Asia-Africa Growth Corridor [AAGC] was jointly declared by him and the PM of Japan, Shinzo Abe. This idea aims to institutionalise the socio-economic development of countries in Asia and Africa.

• India released the Asia Africa Growth Corridor [AAGC] vision document at the 2017 African Development Bank meeting.
• It is an economic cooperation agreement between India and Japan.
• The Asia-Africa Growth Corridor seeks to socially, economically, and infrastructurally develop Africa and Asia and improve Africa's digital connectivity through Indo-Japan integration.

Asia-Africa Growth Corridor: Aim

The aim of the Asia-Africa Growth Corridor is also to prioritise development projects in agriculture, health, pharmaceuticals, disaster management, and agro-processing, which leads to growth in both Africa and Asia. The Asia-Africa Growth Corridor will be built on four foundational pillars:

1. Development and Cooperation Projects
2. Enhancing Capacities and Skills
3. Infrastructure and Institutional Connectivity
4. People-to-People partnership.

Asia-Africa Growth Corridor: Significance

Through the Asia-Africa Growth Corridor, many African countries will get infrastructural development. Historically, both Asia and Africa have struggled in economic growth and development. The Asia-Africa Growth Corridor brings opportunities for both Asia and Africa.

The regions of Asia and Africa both benefit from relatively young demographics and a rising trajectory in their social indicators. Here is why the Asia-Africa Growth Corridor will be significant.

• The Asia Africa Growth Corridor [AAGC] will be a moving factor for new production channel creation in African countries.
• This can ensure economic and technical cooperation for capacity building and spreading and developing existing value chains.
• The Asia-Africa Growth Corridor also helps facilitate greater contact between these two regions. It also aims to help achieve growth that is sustainable in the long term.

Asia-Africa Growth Corridor: Vision

The Asia-Africa Growth Corridor will lead to several benefits for Asia and Africa. The AAGC will introduce affordable and good quality products, services and infrastructure, which will benefit countries in the region. The vision of the Asia-Africa growth corridor is also to introduce a people-to-people partnership, an attempt to make people collaborate for growth.

The Asia-Africa Growth Corridor also aims to help Afro-Asian countries to industrialise and increase their export production. It aims to integrate existing programs of partner countries. It brings India success with a single-window custom clearance through SWIFT, which African countries can replicate.

Asia-Africa Growth Corridor: Role of India and Japan

Asia-Africa Growth Corridor is a collaboration between India and Japan to introduce new infrastructure in Africa. Here is some information about the role of India and Japan in the Asia-Africa Growth Corridor.

• India has cooperated with Africa throughout its long history in development in capacity building and other contributions through programs like the Pan Africa e-Network.
• India also established the India-Africa Forum Summit (IAFS) to promote a structured engagement between India and Africa.
• Japan plays a significant complementary role to other countries in overcoming their challenges.
• Japan also assists many countries in Africa. The country has proven expertise in developing, planning and dispatching hardware infrastructure.
• The Asia-Africa Growth Corridor is designed to be responsive to equitable and sustainable growth requirements. Equal partnership, mutual trust, and cooperation help form development programs and projects.

FAQs on Asia-Africa Growth Corridor

Q1. What is the Asia-Africa Growth Corridor?

The Asia-Africa Growth Corridor is an Indo-Japan economic cooperation agreement seeking the socio-economic development of Africa and Asia. This project aims for infrastructural development and digital connectivity in Africa through Indo-Japan integration.

Q2. Who launched the Asia-Africa Growth Corridor?

In November 2016, Prime Minister Narendra Modi visited Japan, and the idea of the Asia-Africa Growth Corridor was jointly declared by him and the Prime Minister of Japan, Shinzo Abe. This project aims to improve the socio-economic infrastructure in African countries.

Q3. Who are the members of the Asia-Africa Growth Corridor?

Asia-Africa Growth Corridor is an initiative between multiple governments of the world to improve infrastructure in Africa. The members of the Asia-Africa Growth Corridor are India, Japan, and many African countries.

Q4. What are the four pillars of the Asia-Africa Growth Corridor?

The Asia-Africa Growth Corridor [AAGC] will be built on the following four pillars:

• Development and Cooperation Projects
• Enhancing Capacities and Skills
• Infrastructure and Institutional Connectivity
• People-to-People partnership

Q5. What is the aim of the Asia-Africa Growth Corridor?

The aim of the Asia-Africa Growth Corridor is to prioritize development projects in agriculture, health, pharmaceuticals, disaster management, and agro-processing, which leads to growth in both Africa and Asia.

Q6. What is the significance of the Asia-Africa Growth Corridor?

Historically, both Asia and Africa have struggled in economic growth and development. The Asia-Africa Growth Corridor brings opportunities for both Asia and Africa. Both regions benefit from young demography and an accelerating trajectory in their social indicators.