Interview: China plays "driving" role in sustainable industrialization of Africa, says Malagasy economist

ANTANANARIVO, June 15 (Xinhua) -- China, as a key trading partner, plays a "driving" role in the sustainable industrialization of Africa and the continent's integration into global value chains, Claudio Rabenja, a Malagasy economist, said in a recent interview with Xinhua.

"As the world's second-largest importer of goods and services, China takes a strategic position in the global economy," said Rabenja, adding that this status makes China an essential trading partner for both Madagascar and Africa as a whole.

According to official statistics, in 2024, bilateral trade between China and Africa reached 295.6 billion U.S. dollars, marking a 4.8 percent year-on-year increase. China had been Africa's largest trading partner for 16 consecutive years by the end of 2024.

Thanks to Chinese support for African trade infrastructure, such as industrial zones, economic corridors, and logistics platforms, African economies can "better integrate into global production by processing their raw materials locally, which represents an essential step toward sustainable industrialization," the economist said.

Moreover, this "is in perfect synergy" with the objectives of African regional integration, including the African Continental Free Trade Area (AfCFTA), he added.

Rabenja underlined that Sino-African trade and investment fall within the framework of South-South cooperation, "which is based on equitable exchanges between developing countries, in contrast to the asymmetrical relations inherited from the colonial past."

Citing the ongoing China-Africa Economic and Trade Expo, held in Changsha, the capital of central China's Hunan Province, Rabenja noted that this will enable companies from Madagascar and other African countries to access new markets, forge industrial partnerships, and integrate value-added production chains.

In a global context marked by geopolitical tensions, logistical disruptions, and a resurgence of protectionism, the measures taken by China in favor of the least developed countries offer a concrete response to the current challenges of international trade, he said.

"These measures significantly reduce trade barriers and improve access for African products to the Chinese market. This increases their competitiveness, strengthens the producer surplus, and improves the terms of trade," Rabenja added. ■