Can China’s zero-tariff market access boost African economic fortunes?
More than 30 ‘least-developed countries’ can now export goods to China duty free, but lower value products mean limited upside for most, experts say
Published: 4:09pm, 9 Dec 2024Updated: 4:55pm, 9 Dec 2024
Thirty-three of Africa’s “least-developed countries”
(LDCs) are now able to export goods duty free into Chinese markets, but
the policy is unlikely to have a significant impact since large
commodities such as oil and minerals are already exported to China,
according to a new analysis.
The zero-tariff policy took effect this month, fulfilling a pledge made by Chinese President Xi Jinping at the Forum on China–Africa Cooperation (FOCAC) summit in September.
The
export policy is based on a 2003 scheme that originally allowed 190
tariff-free products from dozens of mostly resource-rich African
countries such as Angola, the Democratic Republic of Congo (DRC),
Zambia, Mauritania and Guinea – countries that have primarily exported
unprocessed commodities such as crude oil and minerals, including critical minerals like cobalt, copper and lithium which are essential for products like electric vehicle batteries.