China says it will remove all tariffs on African exports to boost trade
NAIROBI: China will negotiate and sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states it has diplomatic ties with, it said, a move that could benefit middle-income nations. The Asian economic giant offers duty- and quota-free market access to least developed countries (LDCs), including many in Africa, but the new initiative will level the playing field by also offering middle-income countries similar market access.
'China is ready to... welcome quality products from Africa to the Chinese market', China's foreign ministry said after a meeting of senior Chinese officials with African foreign ministers in Changsha to review implementation of commitments made during a summit in Beijing last September.
In recognition of the significant disadvantages that businesses from LDCs like Tanzania or Mali could face from their more developed counterparts like South Africa once the market is fully opened, China pledged additional measures to support LDCs, including training and marketing promotion. Beijing's move could help relatively advanced countries, with significant manufacturing bases for value added products, to take advantage of the vast Chinese market, analysts said.
'It enables middle-income countries like Kenya, South Africa, Nigeria, Egypt and Morocco... to be able to now enter the Chinese market duty-free,' said Hannah Ryder, founder of Development Reimagined, an Africa-focused consultancy.
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