Beijing: A senior journalist from Xinhua News Agency, Wang Jiang, highlighted the significant impact of China’s zero-tariff policy on trade and relations between China and Africa. According to Wang, this policy has already started enhancing trade by allowing African goods to enter China without tariffs, thereby fostering closer economic ties.
According to News Agency of Nigeria, Wang shared these insights during an interview on the sidelines of the Seminar on Broadcasting Convergence and Communication Capacity Building for Young Nigerian Media Professionals in Beijing. He observed that African products, such as South African apples and African coffee, are increasingly available in Chinese supermarkets, providing consumers with more choices and boosting demand for African goods in China.
Wang emphasized that the zero-tariff policy is also encouraging Chinese investment in Africa. He noted that Chinese companies are more inclined to invest in Africa, as the removal of tariffs makes African-made products more competitive in the Chinese market. This policy change has also led to a rise in the number of African traders visiting China to purchase Chinese products, which have become more affordable due to the absence of tariffs.
Hunan Province serves as an example of the growing business ties between China and Africa, with more African companies seeking trade opportunities in China. Wang stated that the policy is deepening people-to-people connections, as Africans and Chinese increasingly enjoy each other’s products, thereby strengthening their friendship.
The zero-tariff policy, which came into effect on May 1, grants duty-free access to goods from all 53 African countries with diplomatic ties to China. It extends zero tariffs to 20 non-Least Developed Countries, including Nigeria, Kenya, and Egypt, building on a prior decision that offered duty-free access to 33 African Least Developed Countries. The policy aims to lower costs, provide African products with a competitive edge, and attract more investment in African processing industries.
Wang also pointed out the broader benefits for African industries and employment, as China’s demand for imports grows. This increased demand is expected to create more jobs in Africa. However, he acknowledged challenges related to travel convenience for exporters and suggested that the media could help by promoting trade stories.
Regarding Nigeria-China relations, Wang indicated that the benefits of the zero-tariff policy for Nigeria would mirror those experienced across Africa, leading to strengthened economic ties and mutual growth.