On December 1, 2024, China implemented a new policy granting zero-tariff treatment to 100% of tariff lines on products originating from the world’s least developed countries (LDCs) that have diplomatic relations with China. Among the beneficiaries of this initiative are 33 African nations, marking a significant milestone in Africa-China economic relations.
This transformative policy aligns with commitments made at the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in September. During the summit, China pledged to unilaterally expand market access for LDCs and ensure that China’s large market serves as a catalyst for Africa’s economic development.
The zero-tariff policy is more than a gesture of goodwill; it is a concrete step toward transforming China’s vast domestic market into a global growth engine. In addition to eliminating tariffs, China is simplifying import procedures and expanding the range of eligible products. This comprehensive approach ensures African nations have a more streamlined and accessible pathway to the Chinese market.
Sustained Momentum in Trade
China’s relationship with Africa has long been underpinned by robust trade. China has been Africa’s largest trading partner for 15 consecutive years. In 2023, bilateral trade reached a record $282.1 billion, a testament to the resilience and vitality of Africa-China economic cooperation.
This momentum continued into 2024. In the first seven months, China-Africa trade hit ¥1.19 trillion ($163 billion), a 5.5% increase year-on-year. Particularly notable is China’s imports from Africa, which rose by 15.5% to ¥490.89 billion. The import of agricultural products such as sesame, tobacco, and macadamia nuts surged significantly, reflecting the growing diversification of trade.
A Win-Win Collaboration
The benefits of zero-tariff policies are reciprocal. For African nations, expanded access to the Chinese market promises economic diversification, enhanced export revenues, and opportunities for value addition. For China, imports of African resources such as metals, energy, and agricultural products contribute to its supply chain stability and align with its goals of fostering sustainable development partnerships.
Moreover, the deepening economic ties signify more than just trade growth. They reflect a shared vision for the future, rooted in mutual respect and collaboration under frameworks such as the Belt and Road Initiative.
This zero-tariff initiative underscores China’s commitment to fostering equitable and sustainable economic growth in Africa. The strategic cooperation between China and Africa can set a precedent for South-South collaboration. Together, China and Africa are writing a new chapter of shared prosperity, proving that partnerships based on equality and mutual benefit can drive global progress.
The writer, Guan Xin, is Chief Business News Editor of CGTN. The African Times published this article in partnership with China Global Television Network (CGTN).
