The new zero-tariff policy that China will adopt with 53 African nations starting May 1st could expand opportunities for natural rubber exports from Ivory Coast. According to a report by the Xinhua news agency, Ivorian companies in the sector are already increasing production and building up stocks in anticipation of increased Chinese demand.
One of the world's leading producers of natural rubber, Ivory Coast is seeking to leverage the new trade policy to strengthen its presence in the Chinese market and reduce its dependence on raw material exports, amid efforts to expand local processing capacity.
In the southwest of the country, industrial units are operating at an accelerated pace to meet the prospect of new shipments, with an expansion in the production of processed rubber destined for export. The assessment is that the tariff reduction could increase the competitiveness of Ivorian products and stimulate new investments in the local production chain.
Beyond the commercial impact, the expansion of domestic processing has boosted value addition and job creation, in a movement that has been strengthening the industrialization of the sector in the African country.
Since 2018, foreign investment in processing plants has helped expand the installed capacity of the local industry, while producers and companies see the Chinese measure as an opportunity to consolidate markets and sustain the expansion of the rubber supply chain.
This text was translated by machine from Brazilian Portuguese.