Beijing: China and South Africa have entered into a landmark partnership agreement that provides South Africa with zero-tariff treatment on all its tariff lines exported to China.

According to Anadolu Agency, the agreement was announced in a release by the Chinese Commerce Ministry, which detailed the new economic partnership signed between the two nations.

Chinese Commerce Minister Wang Wentao highlighted that the agreement ensures South Africa enjoys zero-tariff treatment on all its exports to China in alignment with World Trade Organization rules. This move is expected to offer long-term, stable, and predictable institutional safeguards to significantly enhance economic and trade cooperation between China and South Africa. Wang further indicated Beijing's enthusiasm to engage with South Africa's 'new investment initiative,' targeting expanded cooperation in key sectors such as automotive, mining, agriculture, and new energy, thereby fostering stable industrial and supply chain partnerships.

This development occurs in the backdrop of the United States imposing a 30% tariff on imports from South Africa. South Africa now becomes the 33rd African country to sign such a framework agreement with China, marking a significant shift in its trade policy. South African Minister of Trade, Industry and Competition, Parks Tau, emphasized the importance of this agreement for boosting trade with China, enhancing exports, and revitalizing South Africa's industrial capacity. He also signaled the country's commitment to strengthening cooperation with China within multilateral frameworks, including the World Trade Organization, to uphold multilateralism and promote global trade growth.

Tau, who is visiting China until Saturday, shared these insights on social media platform X. Meanwhile, the UK recently became the first nation to sign a Memorandum of Understanding under China's 'Big Market for All: Export to China' initiative, aiming to increase imports into China, as reported by the British Chambers of Commerce.