This initiative has reportedly been put into effect, as China is set to unilaterally allow zero-tariff market access for all products, to developing nations.
Chinese state media reported that the East Asian country’s zero-tariff policy for developing countries took effect on Sunday, as seen on Sputnik,
“Africa is the continent with the largest number of least developed countries, and China’s zero-tariff measure aims to drive industrial cooperation upgrading through large-scale trade, enhance China-Africa cooperation, and encourage more countries from the Global South to jointly pursue modernization,” Yang Baorong, a researcher at the China-Africa Institute, told the Xinhua news agency.
Furthermore, during an interview, Christopher Mutsvangwa, a member of the ruling Zimbabwe African National Union-Patriotic Front party Politburo, lauded the initiative noting that the move will strengthen commercial ties between China and Africa.
Reports indicate that the zero-tariff policy targets the development needs of countries from the Global South and underscores China’s willingness to share opportunities for development with other countries through specific acts.
The objective of the treatment, according to the Chinese government, is to extend unilateral openness to the least developed countries and promote shared development.
Rabenja Claudio, a Malagasy international relations expert stated, “Benefitting from China’s zero-tariff treatment are products from Madagascar, including agricultural products, textile and clothing products, seafood products and handicraft products,” as per a report from Xinhua.
China’s investment pledge to Africa
During the Forum on China–Africa Cooperation in September, President Xi Jinping pledged to increase its support to Africa, with $51 billion in funding.
Additionally, China pledged to triple the number of infrastructure projects it has in Africa.
Regardless of Xi’s current move toward high-tech, smaller projects focused on green technology, China is still dedicated to regional development on a broad scale.
“China is ready to deepen cooperation with Africa in industry, agriculture, infrastructure, trade and investment,” the Chinese president said to the African leaders present at the forum.
Also, the Chinese president pledged 30 infrastructural connection projects and 30 clean energy initiatives for Africa, as well as prospective collaboration in nuclear technology to alleviate the continent’s power shortages.
Xi Jinping also called for the establishment of “a China-Africa network featuring land-sea links and coordinated development.”
He prompted Chinese contractors to return to Africa following the removal of COVID-19 restrictions, which had previously halted several of their projects.
