China will enact zero-tariff policies for Least Developing Countries with which it has established diplomatic ties, including 33 African countries.
President Xi Jinping made the announcement during a keynote address for the opening ceremony of the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) on September 5, 2024.
President Xi said:
“China will voluntarily and unilaterally open its market wider. We have decided to give all LDCs having diplomatic relations with China, including 33 countries in Africa, zero-tariff treatment for 100 per cent tariff lines.
“This has made China the first major developing country and the first major economy to take such a step. It will help turn China’s big market into Africa’s big opportunity.”
He added that China will expand market access for African agricultural products, deepen cooperation with Africa in e-commerce and other areas, and launch a “China-Africa quality enhancement program.”
“We are prepared to enter into framework agreements on economic partnership for shared development with African countries to provide long-term, stable and predictable institutional guarantee for trade and investment between the two sides.”
President Xi said the China-Africa relationship is “now at its best in history”.
Deepening of the Belt and Road Initiative (BRI)
Additionally, President Xi said China is prepared to carry out 30 infrastructure connectivity projects in Africa, promote together high-quality Belt and Road cooperation, and put in place a China-Africa network featuring land-sea links and coordinated development.
He said China is ready to assist in the “development of the African Continental Free Trade Area, and deepen logistics and financial cooperation for the benefit of trans-regional development in Africa”.
Additionally, China is committed to furthering 30 green energy projects in Africa, and to put in place early warning weather systems as well as cooperation with regard to disaster prevention, mitigation and relief, as well as biodiversity conservation.
