China's elimination of tariffs on African products, effective May 1, 2026, will provide Cote d'Ivoire with unprecedented access to the Chinese market, leading to lower logistics costs and higher profit margins for local exporters, particularly in the cocoa sector.
The zero-tariff policy aims to boost exports of African products to the Chinese market, promote the development of local processing industries, and foster job creation across the continent.
As Africa's leading cocoa producer, Cote d'Ivoire stands to benefit greatly from this measure.
"This is an excellent initiative, as we already operate in the Chinese market and maintain partnerships with Chinese clients, but we sometimes face tariff-related challenges. Therefore, we welcome China's decision, as it will enable exporters to reassess based on the elimination of tariffs on goods bound for China, while also allowing Chinese companies to enter the Ivorian market. In terms of benefits, this measure will reduce customs logistics costs by 5 to 10 percent, increase profit margins by 8 to 12 percent, and, most importantly, boost industrial investment by more than 20 percent," said Diakite Fousseni, co-founder of Diakite Cocoa Products.
For local employees, the elimination of tariffs is fully in line with the company's vision of increasing production and expanding sales of its products into new markets.
"For those of us in finance, the elimination of tariffs means an influx of capital. In other words, once tariffs are eliminated, we will be able to turn a profit, which will allow us to purchase all the necessary equipment, expand our production lines, increase our product range, and sell more products across various regions", said Zanh Thierry, head of purchasing and services at Diakite Cocoa Products.
The exemption of tariffs on exports to China is also welcomed by agricultural producers, particularly cocoa farmers.
"This is great news. We are very happy to hear it, because we are really struggling, especially since things aren't going well in the cocoa sector. If tariffs have been eliminated, that will be a huge help to us. We hope the government will improve the price of cocoa. We don't want it to be like in previous years, when we faced so many difficulties. If the price is stable, that will help us, the farmers," said Konate Issouf, a cocoa farmer in Alepe, a town in southeast of Cote d'Ivoire.
China's zero-tariff policy is expected to be a boon for local economies. According to experts, it could eventually boost the revenues of players across the board in the cocoa sector if Cote d'Ivoire manages to increase its production and processing capacity.
Cocoa industry in Cote d'Ivoire to benefit from tariff exemption granted by China
Colombians are heading to the polls on Sunday to elect their next president. The country's constitution prevents the current President, Gustavo Petro, from running for a second term.
Yet, many see this election as a referendum on the policies of Gustavo Petro, Colombia's first leftist president.
There are 14 candidates on Sunday's ballot, but the polls show it will likely be a tight three-way race.
The frontrunner is Ivan Cepeda, a 63-year-old three-term senator, representing President Gustavo Petro's party, the Historic Pact coalition. Cepeda has vowed to defend and deepen Petro's progressive reforms and social justice policies to reduce inequality. He also promises to continue the government's controversial "Total Peace" strategy to negotiate the disarmament of remaining guerrilla groups and criminal gangs.
"True prosperity comes from equality, from access to rights, and from transforming the peripheral and excluded territories of the rural world," Cepeda said at a campaign rally.
Running as a political outsider and independent is Abelardo de la Espriella, a 47-year-old lawyer, nicknamed "The Tiger." He has presented himself as the "authority and order" candidate who will reduce state spending by up to 40 percent in the next four years.
"(First,) we must fight insecurity. Colombia is suffering today from a pandemic of insecurity. Crime is out of control: extortion, cattle theft, smuggling, drug trafficking," he said to his supporters at an election event.
According to polls, the third candidate with strong support is Paloma Valencia. The 48-year-old senator represents the Democratic Center party led by popular former President Alvaro Uribe Velez. Her candidacy is backed by politicians and economists who are concerned with growing levels of public debt. They want to see a return to more conservative fiscal policies.
"I don't want to be a president who governs alone, locked away in glass offices. I want to be a president who stands with citizens, who embraces them, who reaches out to them, who has a team, and who governs to transform Colombia," the candidate said at the campaign event
According to polls earlier in the year, many voters are expressing concerns about unemployment, rising living costs, corruption, and, above all, public security.
The election comes after a turbulent year that the International Committee of the Red Cross has called "the worst humanitarian consequences of armed conflict over the past decade."
"(We arrive at this election in a tense atmosphere - tense) because of the economic situation, because of the security situation, and because of the narratives that have been built around the country's main problems. On top of that, emotions, ideas and social media have all helped raise (the tone,)" said Eduardo Velosa, associate professor from International Studies Javeriana University.
If no candidate receives 50 percent of the vote, a runoff election will be held between the top two finishers on June 21st.
Colombians prepare to choose their next president
