Diplomacy
African Union Envoy Calls For Shared Value Chains
The Reporter · last week · Read the Full Story on The Reporter
AI SUMMARY
The African Union's envoy to China stated that China's zero-tariff policy for 53 African countries will expand exports, advance industrialisation, and build shared value chains.
- China's policy allowing goods from 53 African countries to be imported tariff-free aims to expand exports, advance industrialisation, and build shared value chains.
- Alhaji Mohamed Sarjoh Bah is the African Union's permanent representative to China.
- The appeal coincides with the 70th anniversary of diplomatic relations and the China-Africa Year of People-to-People Exchanges.
- Since May 1, China has provided zero-tariff access to products from all 53 African countries with which it has diplomatic relations.
- China has a consumer market of over 1.4 billion people with a middle-income group exceeding 400 million.
- China imported goods worth 193.8 billion yuan ($28.85 billion) from Africa in May and June, marking a 23.5 per cent increase year-on-year.
- African dried chilli peppers, coffee beans, cashews, and wild aquatic products have secured region-wide market access in China.
- The zero-tariff policy could increase Chinese investment in Africa's energy, technology, connectivity, infrastructure, and agriculture.
- Lithium processing was cited as an example of a mutually reinforcing value chain divided between Africa and China.
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