China Announces Zero-Tariff Policy for Least Developed African Countries

Chinese President Xi Jinping announced that China will grant zero-tariff treatment to all least developed countries that have diplomatic relations with China, including 33 African nations. The announcement was made during a keynote speech at the opening ceremony of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) in Beijing, as reported by the Xinhua News Agency.

With this move, China becomes the first major developing country and the first major economy to implement such a policy. Xi stated that this decision aims to transform China’s vast market into a significant opportunity for Africa. He also revealed plans to expand market access for African agricultural products, deepen cooperation in e-commerce, and introduce a “China-Africa quality enhancement program.”

Chinese experts have noted that this new trade measure is expected to greatly facilitate trade between Africa and China, the world’s second-largest economy, while also boosting Africa’s development through increased trade and investment.

Song Wei, a professor at the School of International Relations and Diplomacy at Beijing Foreign Studies University, explained that the zero-tariff policy represents a crucial element of China’s support for trade with Africa. He emphasized that the core objective is to enable Africa’s autonomous development through enhanced trade rather than simply increasing the volume and quality of China-Africa trade.

Under the strategic guidance of leaders from both China and Africa, economic and trade cooperation between the two regions has yielded significant results in recent years. According to Lin Honghong, director of the Department of International Relations at the China Council for the Promotion of International Trade, China-Africa trade reached a record $282.1 billion in 2023, marking a historic high for the second consecutive year.

Over the past three years, Chinese companies have also created over 1.1 million jobs in Africa, reflecting the strong momentum of China-Africa economic and trade cooperation, Lin added.

Song further noted that the zero-tariff policy would allow more African agricultural products and mineral resources, which are key strengths of the continent, to enter the Chinese market. Meanwhile, the policy will leverage e-commerce to facilitate the entry of more competitive Chinese products into Africa, thereby addressing the development needs of African nations and improving the quality of life for the African people.

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