China wants to remove tariffs for 53 African countries

Beijing takes another step in its economic offensive in Africa. China announced on Thursday June 12 that it would abolish customs duties on products originating from 53 African countries. The announcement was made at a China-Africa meeting in Changsha, a city that has become a strategic hub for transcontinental trade.

The aim was to to strengthen economic ties with the continent, at a time when African products could be hit by new tariffs in the United States. In response, China is offering greater access to its domestic market, particularly in the agricultural, textile and mining sectors.

According to Beijing, this measure is part of the “Ten Actions of Sino-African Partnership”, aimed at boosting African exports and building a “Sino-African community ”. However, it excludes Eswatini, the only country on the continent to recognize Taiwan.

As Africa’s leading trading partner for the past 15 years, China is seeking to reinforce its geostrategic position against a backdrop of rivalry with the United States. By making African products more competitive on its soil, it could contribute to diversifying the continent’s sources of growth, although the date on which this exemption will come into effect has not yet been specified.

source: Agenece Ecofin