African nations praise China’s decision to offer zero-tariff treatment to least developed countries
Date
12/2/2024 2:30:42 AM
(MENAFN) Starting Sunday, China will offer zero-tariff treatment to all the least developed countries with which it has diplomatic relations, covering 100 percent of tariff lines. This move makes China the first major developing country and the first major Economy to take such a significant step in promoting international trade.
This initiative aligns with China's commitment to supporting the development needs of nations from the global south, showcasing its dedication to sharing development opportunities through tangible actions. The move also highlights China's willingness to further open its market, benefiting countries with limited access to global trade.
Christopher Mutsvangwa, a senior member of Zimbabwe’s ruling ZANU PF party, emphasized that the policy would promote trade between China and Africa. He pointed out the increasing demand from Chinese consumers for African agricultural products, with Zimbabwean oranges and other items making their way into the Chinese market. Mutsvangwa expressed hope that other agricultural products, such as sesame, will also find success in China in the future.
The zero-tariff policy will benefit various countries, including Madagascar, whose products such as agricultural goods, textiles, seafood, and handicrafts will now have easier access to the Chinese market, according to Rabenja Claudio, a Malagasy international relations expert.
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