China has taken significant steps to bolster its economic relationship with Africa, despite the global economy facing challenges such as rising unilateralism and trade wars. At the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in September 2024, President Xi Jinping announced that China would grant zero-tariff treatment for 100% of tariff lines to all Least Developed Countries (LDCs) with diplomatic relations, including 33 African countries. This move makes China the first G20 member to fully cover zero-tariff treatment for LDCs.
The total trade volume between China and Africa reached $295.5 billion in 2024, a year-on-year increase of 6.1%. China has also seen substantial growth in the export of electric vehicles, highlighting its emphasis on green energy cooperation with African countries. The trade volume is expected to steadily increase to over $300 billion in 2025.
China has established a multi-dimensional institutional framework covering market access, investment protection, and tax coordination to improve the quality and upgrade of China-Africa economic and trade cooperation. This includes signing Bilateral Investment Treaties (BITs) with 34 African countries and Double Taxation Avoidance Agreements (DTAA) with 21 African countries.
The China-Africa Economic and Trade Expo, scheduled for June 12-15 in Changsha, Hunan Province, will provide cooperation opportunities for African state-owned and private sectors in areas such as clean energy, traditional medicine, and cross-border e-commerce. China’s commitment to promoting pragmatic initiatives like tariff reduction and exemption, trade facilitation arrangements, and trade exhibitions underscores its dedication to being Africa’s good friend, partner, and brother.
Ruth Abla ADJORLOLO
