Latest news with #HannahRyder
Ya Biladi
13-06-2025
- Business
- Ya Biladi
China to eliminate tariffs on African exports, Morocco among beneficiaries
China has announced plans to eliminate all tariffs on goods from 53 African countries it maintains diplomatic ties with, including Morocco. The move, announced following a meeting between senior Chinese and African officials in Changsha, is part of a broader economic pact aimed at boosting African exports to the Chinese market. The initiative will extend duty-free access beyond least developed countries (LDCs) to include middle-income nations. «It enables middle-income countries like Kenya, South Africa, Nigeria, Egypt and Morocco... to be able to now enter the Chinese market duty-free» Hannah Ryder, head of the Africa-focused consultancy Development Reimagined, told Reuters on Thursday. The move is expected to boost access for value-added African products to the vast Chinese market. Morocco, with its growing industrial base, particularly in automotive and agri-food sectors, stands to benefit. It is worth noting that Moroccan exports to China reached $1.3 billion in 2024, a figure expected to rise under the new plan. En 2024, les exportations marocaines vers la #Chine se sont élevées à 1,3 milliard de dollars. Avec la nouvelle mesure de zéro #tarif, ce chiffre va continuer d'augmenter. — Ambassade de Chine au Maroc (@ChineAmbMaroc) June 13, 2025 The Chinese foreign ministry also pledged additional support for LDCs to ensure they are not disadvantaged by the new arrangement. The measure could help rebalance trade, which remains skewed in China's favor. Last year, China recorded a $62 billion trade surplus with Africa.
Zawya
13-06-2025
- Business
- Zawya
China says it will remove all tariffs on African exports to boost trade
NAIROBI - China will negotiate and sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states it has diplomatic ties with, it said, a move that could benefit middle-income nations. The Asian economic giant offers duty- and quota-free market access to least developed countries (LDCs), including many in Africa, but the new initiative will level the playing field by also offering middle-income countries similar market access. "China is ready to... welcome quality products from Africa to the Chinese market", China's foreign ministry said after a meeting of senior Chinese officials with African foreign ministers in Changsha to review implementation of commitments made during a summit in Beijing last September. In recognition of the significant disadvantages that businesses from LDCs like Tanzania or Mali could face from their more developed counterparts like South Africa once the market is fully opened, China pledged additional measures to support LDCs, including training and marketing promotion. Beijing's move could help relatively advanced countries, with significant manufacturing bases for value added products, to take advantage of the vast Chinese market, analysts said. "It enables middle-income countries like Kenya, South Africa, Nigeria, Egypt and Morocco... to be able to now enter the Chinese market duty-free," said Hannah Ryder, founder of Development Reimagined, an Africa-focused consultancy. Trade between China and Africa has been growing in recent years, but it has been heavily skewed in favour of China, which had a surplus of $62 billion last year. "Unless we have an equivalent increase of African exports to China, then trade deficits will continue to increase," Ryder said, adding that the initiative announced by Beijing could help to balance trade. During last year's summit in Beijing, China pledged 360 billion yuan ($50 billion) to African economies over three years in credit lines and investments, marking its return to big-ticket funding deals for the continent after a pandemic-related hiatus. ($1 = 7.1747 Chinese yuan renminbi)
Business Recorder
13-06-2025
- Business
- Business Recorder
China says it will remove all tariffs on African exports to boost trade
NAIROBI: China will negotiate and sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states it has diplomatic ties with, it said, a move that could benefit middle-income nations. The Asian economic giant offers duty- and quota-free market access to least developed countries (LDCs), including many in Africa, but the new initiative will level the playing field by also offering middle-income countries similar market access. 'China is ready to... welcome quality products from Africa to the Chinese market', China's foreign ministry said after a meeting of senior Chinese officials with African foreign ministers in Changsha to review implementation of commitments made during a summit in Beijing last September. In recognition of the significant disadvantages that businesses from LDCs like Tanzania or Mali could face from their more developed counterparts like South Africa once the market is fully opened, China pledged additional measures to support LDCs, including training and marketing promotion. Beijing's move could help relatively advanced countries, with significant manufacturing bases for value added products, to take advantage of the vast Chinese market, analysts said. 'It enables middle-income countries like Kenya, South Africa, Nigeria, Egypt and Morocco... to be able to now enter the Chinese market duty-free,' said Hannah Ryder, founder of Development Reimagined, an Africa-focused consultancy.
Free Malaysia Today
12-06-2025
- Business
- Free Malaysia Today
China says it will remove all tariffs on African exports to boost trade
Trade with Africa has been growing in recent years, but it has been heavily skewed in the China's favour. (AFP pic) NAIROBI : China will negotiate and sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states it has diplomatic ties with, it said, a move that could benefit middle-income nations. The Asian economic giant offers duty-and-quota-free market access to least developed countries (LDCs), including many in Africa, but the new initiative will level the playing field by also offering middle-income countries similar market access. 'China is ready to… welcome quality products from Africa to the Chinese market', China's foreign ministry said after a meeting of senior Chinese officials with African foreign ministers in Changsha to review implementation of commitments made during a summit in Beijing last September. In recognition of the significant disadvantages that businesses from LDCs like Tanzania or Mali could face from their more developed counterparts like South Africa once the market is fully opened, China pledged additional measures to support LDCs, including training and marketing promotion. Beijing's move could help relatively advanced countries, with significant manufacturing bases for value added products, to take advantage of the vast Chinese market, analysts said. 'It enables middle-income countries like Kenya, South Africa, Nigeria, Egypt and Morocco… to be able to now enter the Chinese market duty-free,' said Hannah Ryder, founder of Development Reimagined, an Africa-focused consultancy. Trade between China and Africa has been growing in recent years, but it has been heavily skewed in favour of China, which had a surplus of US$62 billion last year. 'Unless we have an equivalent increase of African exports to China, then trade deficits will continue to increase,' Ryder said, adding that the initiative announced by Beijing could help to balance trade. During last year's summit in Beijing, China pledged 360 billion yuan (US$50 billion) to African economies over three years in credit lines and investments, marking its return to big-ticket funding deals for the continent after a pandemic-related hiatus.
Reuters
12-06-2025
- Business
- Reuters
China says it will remove all tariffs on African exports to boost trade
NAIROBI, June 12 (Reuters) - China will negotiate and sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states it has diplomatic ties with, it said, a move that could benefit middle-income nations. The Asian economic giant offers duty- and quota-free market access to least developed countries (LDCs), including many in Africa, but the new initiative will level the playing field by also offering middle-income countries similar market access. "China is ready to... welcome quality products from Africa to the Chinese market", China's foreign ministry said after a meeting of senior Chinese officials with African foreign ministers in Changsha to review implementation of commitments made during a summit in Beijing last September. In recognition of the significant disadvantages that businesses from LDCs like Tanzania or Mali could face from their more developed counterparts like South Africa once the market is fully opened, China pledged additional measures to support LDCs, including training and marketing promotion. Beijing's move could help relatively advanced countries, with significant manufacturing bases for value added products, to take advantage of the vast Chinese market, analysts said. "It enables middle-income countries like Kenya, South Africa, Nigeria, Egypt and Morocco... to be able to now enter the Chinese market duty-free," said Hannah Ryder, founder of Development Reimagined, an Africa-focused consultancy. Trade between China and Africa has been growing in recent years, but it has been heavily skewed in favour of China, which had a surplus of $62 billion last year. "Unless we have an equivalent increase of African exports to China, then trade deficits will continue to increase," Ryder said, adding that the initiative announced by Beijing could help to balance trade. During last year's summit in Beijing, China pledged 360 billion yuan ($50 billion) to African economies over three years in credit lines and investments, marking its return to big-ticket funding deals for the continent after a pandemic-related hiatus. ($1 = 7.1747 Chinese yuan renminbi)
