Africa poised to leverage China's vast consumer market potential

Zero-tariffs policy to help continent export more goods, up competitiveness

In a major effort aimed at deepening economic ties with Africa, China announced recently that it will grant duty-free access to 100 percent of products originating from 33 African countries.

The sweeping elimination of tariffs is expected to significantly lower the cost barriers for African goods entering the Chinese market and enhance their overall price competitiveness, thus allowing African exporters to more effectively leverage the vast opportunities of the Chinese consumer market, experts said.

This expansion of preferential trade policies builds on previous commitments made by China. In 2009, the nation said it would provide 95 percent tariff-free access for products from the least developed African countries that have formal diplomatic ties with China, in a well-paced manner. In 2010, China started to apply zero tariffs on 60 percent of all goods from these African nations.