Latest news with #China-Africa
The Star
2 days ago
- Business
- The Star
China expands zero-tariff policy for least developed countries
GENEVA, June 18 (Xinhua) -- China has notified the World Trade Organization (WTO) of its expanded zero-tariff policy for least developed countries (LDCs) that maintain diplomatic relations with Beijing, raising product coverage from 98 percent to 100 percent. The new policy, which took effect on Dec. 1, 2024, is part of China's broader efforts to further open up to LDCs and African nations, the Chinese delegation said at a WTO meeting in Geneva on Wednesday. The delegation also briefed WTO members on a recent China-Africa declaration, in which China expressed readiness to extend the zero-tariff treatment to cover 100 percent of tariff lines for all 53 African countries that have diplomatic ties with China. In addition to the zero-tariff initiative, China pledged further steps to promote trade in goods, and to strengthen skills and technical training programs for African LDCs. According to the delegation, these measures aim to create new development opportunities and growth momentum for African countries and LDCs, while also contributing to the stability and positive momentum of global trade. Amid ongoing turbulence in international trade, China called on all WTO members to jointly uphold a free and open international economic and trade order, and to promote inclusive and universally beneficial globalization. China's measures were broadly welcomed by WTO members. Representatives from LDCs, African countries and other economies expressed appreciation, highlighting the unprecedented challenges and uncertainties faced by developing nations. They urged more members to follow China's example by offering targeted preferential policies, capacity-building assistance, and other support to LDCs to advance inclusive and sustainable global trade development.
The Citizen
3 days ago
- Business
- The Citizen
China's clever trade deal with Africa – removal of tariffs on most goods
While the US is alienating other countries with high import tariffs, China is making friends in Africa by scrapping most import tariffs. While the rest of the world is sidetracked with the unrest in the Middle East and US President Donald Trump's on-again, off-again import tariffs, China made a clever trade deal with Africa to remove tariffs on most African exports. This not only boosts its trade potential, it also expands Beijing's influence. Brendon Verster, economist at Oxford Economics Africa, says as the US retreats and turns its focus inward, China's economic incentives deepen ties, reinforcing it as Africa's key partner. 'This shift may weaken the US's leverage and reshape global alliances in China's favour, despite risks from its slowing economy.' Last week, China announced plans to eliminate all tariffs on imports from 53 African sovereign states it maintains diplomatic ties with. Eswatini is the only exception due to its recognition of Taiwan's sovereignty. The Changsha Declaration on Upholding Solidarity and Cooperation of the Global South advances the full implementation of the Beijing Declaration reached in September 2024, which in turn aims to 'jointly build an all-weather China-Africa community with a shared future for the new era,' Verster says. 'The move can be considered a push by Beijing to capitalise on the chaos caused by Trump's 'Liberation Day' tariffs. Although the agreement text does not mention him by name, it does note that the parties agree that the frequent occurrence of unilateralism, protectionism and economic bullying has created severe difficulties for the economic and social development and the improvement of livelihood in African countries and other developing countries.' ALSO READ: China risks its moral high ground in escalating trade tensions China rather wants to resolve disputes Verster points out that in addition, the declaration states that the parties 'call on all countries and the US in particular, to return to the right track of resolving trade disputes through consultation based on equality, respect and mutual benefit. 'The new zero-tariff pledge marks a pronounced expansion of China's previous trade policy announced last year, which removed tariffs on imports from 33 countries globally that are deemed the least developed. 'Moreover, the continent's most underdeveloped economies, which already have full access to the Chinese market, will receive additional assistance to bolster their exports. These include measures on market access, inspection and quarantine and customs clearance.' Before the latest announcement, Chinese trade already dominated across Africa. Among the continent's major economies, the Asian giant outstrips the US as an export destination by a significant margin, especially in the DRC, accounting for 66% of goods exports, Angola (46.4%), Zimbabwe (20.1%) and Zambia (18.7%). ALSO READ: China challenges Trump's economic 'bullying' US ahead of China in some African economies However, Verster says, the US is still ahead of China in several economies, such as in Lesotho, Mauritius, Morocco, Egypt, Nigeria and Kenya. He also points out that apart from trade, China is almost on par with the US in terms of foreign direct investment (FDI). According to the United Nations Conference on Trade and Development's 2023 World Investment Report, FDI inflows to Africa from the US totalled $45 billion in 2021, down from $50 billion in 2017. FDI inflows from China were recorded at $44 billion in 2021, slightly higher than the $43 billion registered in 2017. This chart shows how China's trade deal solidifies an already solid position as Africa's key trade partner: Source: International Trade Centre, *Includes Hong Kong ALSO READ: SA eyes boost in trade with China at November expo China's removal of tariffs has implications for power dynamics with US Verster says China's step to remove all tariffs on most African goods has important implications for the continent as well as the evolving power dynamics between the US and China. 'From a geopolitical standpoint, China's move is a long-term bet on African alignment and growth as well as a deepening of its commitment to South-South cooperation. 'The US has been moving away from these policies and China's removal of tariffs is part of a wider architecture that also includes concessional loans and large-scale infrastructure spending. As Washington turns its focus inward and its engagement in Africa becomes increasingly transactional or conditional, Beijing is stepping in to fill the void with consistent and unconditional economic incentives.' He says China is entrenching its position as Africa's most significant economic partner and expanding the continent's export potential. 'The strategic move significantly boosts China's soft power and trade leverage, especially given the US's decisions to tighten trade restrictions and cut development funding. 'African countries stand to gain from potential export diversification, increased foreign exchange earnings and closer integration into global value chains. Still, the Chinese economy is losing steam, which could weigh on its import demand.' ALSO READ: China welcomes Cyril – and tightens ties with 8 agreements Africa to become major player in critical minerals market Verster says Africa is also poised to become a major player in the critical minerals market as the world shifts to sustainable practices. 'Beijing's move could be considered an attempt to keep the continent close as the scramble for critical minerals ramps up and China seeks to assert its dominance over these supply chains.' As China's trade diplomacy cultivates closer bilateral ties, the broader implication is a gradual decline in US influence in Africa. Verster believes that African leaders might be more inclined to support China's viewpoints on the global stage, which would diminish Western influence. 'Furthermore, Western attempts to establish international trade regulations or impose sanctions may lose their effectiveness as African economies become more integrated with Chinese supply chains and trade networks. 'In short, Beijing's zero-tariff policy is not just a trade initiative but a strategic manoeuvre to reshape its alliances with Africa, reduce the US's leverage and embed China more deeply in the African continent's economic and political future.'
Korea Herald
3 days ago
- Business
- Korea Herald
Xinhua Silk Road: Coffee industry-related trade co-op highlighted at side event of China-Africa expo
BEIJING, June 17, 2025 /PRNewswire/ -- A coffee industry promotion event held during the 4th China-Africa Economic and Trade Expo (CAETE) attested again to how a Chinese county endeavored to leverage opening-up to foster new growth drivers. Located in Hunan Province in central China, Changsha County, part of the provincial capital Changsha City, blueprinted a coffee industrial chain park to fill in the vacuum of premium African coffee beans-based coffee industrial chain in China. Via businesses inviting and professional operation, Changsha County expects the annual output value of the park, which sits in the Airport Sub-area of Changsha Area in China (Hunan) Pilot Free Trade Zone, to exceed one billion yuan and countywide coffee bean import to surpass two billion yuan by 2027. On June 13, the county embraced a batch of seven quality investment projects for the emerging local coffee industry and businesses from Hunan Province attending the event concluded related contracts. These projects, which include industrial complexes, corporate headquarters and online platforms, cover African coffee bean-related production and processing, storage and logistics, trade, and product R&D. Hence, the Chinese county took a solid step forward in shaping an inland hub for opening-driven development to cultivate new growth engines and deepen China-Africa economic and trade cooperation. Currently, Changsha County's coffee industry is starting to unlock its own potential and fascination due to convenient transport, vigorous consumer market and pleasant business environment, said Chen Yonggao, head of Changsha County during the event. In the future, Chen expressed his hopes for related businesses to be long-term partners, pacesetters and co-builders of the county's coffee industry to reap benefits earlier, make breakthroughs in sub-sectors, and establish a vibrant coffee industry ecosystem to bring local coffee to a broader market. Year to date, the county has incorporated its coffee industry planning into local 2026-2030 development plan to delve deeper into the African market. Accordingly, Changsha County will focus on the coffee industrial chain park's production and processing, storage and logistics, sci-tech innovation service, cultural experience and transaction service to further tap into the growing China-Africa economic and trade cooperation. From January to April of this year, Changsha County saw local trade with African countries rise 108 percent year on year to 4.104 billion yuan.
Cision Canada
3 days ago
- Business
- Cision Canada
Xinhua Silk Road: Coffee industry-related trade co-op highlighted at side event of China-Africa expo
BEIJING, June 17, 2025 /CNW/ -- A coffee industry promotion event held during the 4th China-Africa Economic and Trade Expo (CAETE) attested again to how a Chinese county endeavored to leverage opening-up to foster new growth drivers. Located in Hunan Province in central China, Changsha County, part of the provincial capital Changsha City, blueprinted a coffee industrial chain park to fill in the vacuum of premium African coffee beans-based coffee industrial chain in China. Via businesses inviting and professional operation, Changsha County expects the annual output value of the park, which sits in the Airport Sub-area of Changsha Area in China (Hunan) Pilot Free Trade Zone, to exceed one billion yuan and countywide coffee bean import to surpass two billion yuan by 2027. On June 13, the county embraced a batch of seven quality investment projects for the emerging local coffee industry and businesses from Hunan Province attending the event concluded related contracts. These projects, which include industrial complexes, corporate headquarters and online platforms, cover African coffee bean-related production and processing, storage and logistics, trade, and product R&D. Hence, the Chinese county took a solid step forward in shaping an inland hub for opening-driven development to cultivate new growth engines and deepen China-Africa economic and trade cooperation. Currently, Changsha County's coffee industry is starting to unlock its own potential and fascination due to convenient transport, vigorous consumer market and pleasant business environment, said Chen Yonggao, head of Changsha County during the event. In the future, Chen expressed his hopes for related businesses to be long-term partners, pacesetters and co-builders of the county's coffee industry to reap benefits earlier, make breakthroughs in sub-sectors, and establish a vibrant coffee industry ecosystem to bring local coffee to a broader market. Year to date, the county has incorporated its coffee industry planning into local 2026-2030 development plan to delve deeper into the African market. Accordingly, Changsha County will focus on the coffee industrial chain park's production and processing, storage and logistics, sci-tech innovation service, cultural experience and transaction service to further tap into the growing China-Africa economic and trade cooperation. From January to April of this year, Changsha County saw local trade with African countries rise 108 percent year on year to 4.104 billion yuan.
Business Insider
6 days ago
- Business
- Business Insider
African countries excluded as China expands visa‑free transit to 55 nations
China has expanded its 10-day visa-free transit policy to 55 countries, but notably excluded all African nations, raising questions about the scope of its global engagement. China has expanded its 10-day visa-free transit policy to 55 countries, excluding all African nations. It facilitates stays of up to 240 hours for travelers transiting to a third destination, with certain restrictions. The exclusion of African nations sparked debates about China's geopolitical strategies and diplomatic priorities. China's visa-free transit policy, which grants a 10-day stay for travelers in transit, now includes 55 countries but excludes all African nations—a move that has sparked disappointment and raised questions about Beijing's travel diplomacy and its Africa policy. The absence of African nations, despite China's strong economic and diplomatic ties across the continent, has surprised analysts and travel industry stakeholders alike. China's new transit policy allows travelers from select countries to stay visa-free for up to 240 hours if transiting to a third destination. Visitors must remain in the city or region of entry and have a confirmed onward ticket. While not a general tourist visa, the policy permits short-term activities like tourism, business, and family visits. Aimed at boosting convenience for businesspeople, tourists, and frequent travelers, it also helps save on visa fees and processing time. China-Africa relations threatened? China's recent visa-free travel policy for over 50 countries has sparked debate over the exclusion of African nations, raising questions about Beijing's stance toward the continent. This move appears contradictory given China's deepening trade ties with Africa, including zero-tariff treatment for 53 African countries and import duty exemptions for products from 33 least developed nations. However, the omission may not signal waning interest. Rather, it could reflect strategic prioritization of diplomatic and economic relationships. China's investments in Africa focused on trade, infrastructure, and development, suggest a long-term commitment. Understanding Beijing's approach requires considering the broader geopolitical and economic context in which its Africa policy operates. Observers note that this exclusion could be interpreted as a missed opportunity for people-to-people exchange, especially given Beijing's consistent rhetoric about its 'win-win' cooperation with Africa. With African countries hosting massive Chinese investments and infrastructure projects under the Belt and Road Initiative, the lack of reciprocal travel ease underscores a gap in the relationship that some believe needs urgent attention. Full list of eligible countries The countries included under China's 10-day visa-free transit policy are: Albania, Argentina, Australia, Austria, Belarus, Belgium, Bosnia and Herzegovina, Brazil, Brunei, Bulgaria, Canada, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Indonesia, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Monaco, Montenegro, Netherlands, New Zealand, North Macedonia, Norway, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Singapore, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, and the United Kingdom. These travelers are eligible for entry at any of the approved 60 transit points, which include international airports in cities like Beijing, Shanghai, Guangzhou, Chengdu, and Shenzhen, as well as a select number of seaports. Authorities have clarified that travelers must be in direct transit, meaning they must travel from Country A, transit through China, and continue to Country B. A return trip to the country of origin would not qualify under this policy.
