Historic trade expansion from China to Africa: Zero-tariff era begins

The new trade policy implemented by China as of May 1 marks a striking shift in economic relations with the African continent. Customs tariffs have now been lifted on shipments of certain products from 53 African countries to China. This new system was first put into practice with the arrival of 24 tons of fresh apples from South Africa at the port of Shenzhen, which were delivered smoothly and tax-free.

The policy, which previously covered 33 countries, has now expanded to include 20 more, encompassing nearly every country on the continent.

While this decision by China expands its commercial influence on the continent, it will also allow African countries to have a greater say in the Chinese market. However, there is one country that cannot benefit from the policy: Eswatini. The reason for this country's exclusion is cited as Eswatini's continued recognition of Taiwan, which contradicts Beijing's "One China" policy.

Chinese officials announced that the tax-free import system is subject to certain rules. The zero-tariff policy is conditional upon not exceeding specific quotas for each country and product group. If these quotas are exceeded, standard tax rates will apply once again.

On the other hand, the Chinese administration states that this move is only the beginning and that they are open to more comprehensive economic cooperation with African countries. This step is also expected to accelerate industrialization and economic growth in the African region.

As the African market becomes increasingly strategic for China, the new zero-tariff regime will remain in effect until April 30, 2028. Experts assess that the policy could increase Africa's export potential while simultaneously strengthening China's political and economic influence on the continent.

News Source: 12punto