Sincerity, friendship and equality: Written in an era of global economic turbulence

On September 5, 2024, President Xi Jinping announced new trade measures at the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC). China will open its market wider and offer zero-tariff treatment to all Least Developed Countries (LDCs) with diplomatic ties to China. This includes 33 African nations.

China is now the first G20 member to provide full zero-tariff treatment for LDCs. Previously, it maintained zero tariffs on 98% of products from 27 African LDCs. Additionally, China has signed Bilateral Investment Treaties with 34 African countries and Double Taxation Avoidance Agreements with 21.

In 2024, trade between China and Africa reached $295.5 billion. This marks a year-on-year increase of 6.1%. Exports of electric vehicles have surged, highlighting China's focus on green energy cooperation with Africa.

Trade volume is expected to exceed $300 billion by 2025. The potential for economic cooperation between China and Africa remains strong. China aims to facilitate easier access for high-quality African products into its market.

This effort will support industrial development in Africa, create jobs, and reduce poverty. China has also established "green channels" for exporting African agricultural products. It encourages participation in major exhibitions like the Canton Fair and International Import Expo.

Recently, some countries have used tariffs as pressure tactics for selfish gains. This approach harms legitimate rights globally and violates WTO rules. It undermines multilateral trading systems and disrupts global economic stability.

As part of the Global South, China promotes collaboration rather than division among nations. It seeks to build partnerships with African countries like Ghana through practical actions.

On April 3rd, the Association of China (Ghana) Mining LBG was established with government officials present. This milestone supports Ghana’s economic growth and improves livelihoods.

China actively coordinates as co-chair of Ghana's Official Creditor Committee to address debt issues constructively. In pursuing inclusive globalization, China aims to share development benefits with Ghanaian citizens.

The upcoming 4th China-Africa Economic and Trade Expo will take place in Changsha from June 12-15. At this event, more opportunities will arise for cooperation in clean energy, environmental protection, traditional medicine, e-commerce, agriculture machinery, and construction machinery.

China is committed to implementing initiatives like tariff reductions and trade facilitation arrangements. These efforts demonstrate that China will always be a reliable friend and partner to Africa.

The writer is the Ambassador of China to Ghana.