China has granted zero tariffs to Least Developed Countries (LDCs) with established diplomatic relations, including 33 African countries, effective from December 1.
This has made China the first major developing country and the first major economy to take such a step, said China’s Foreign Ministry Spokesperson Lin Jian.
It demonstrates China’s willingness to further open its market and will promote China-Africa trade, Christopher Mutsvangwa, Zimbabwe’s ruling Zimbabwe African National Union-Patriotic Front (ZANU PF) party Politburo member and ZANU PF secretary for information and publicity said.
China’s zero-tariff policies will increase export opportunities for countries like Lesotho, attract foreign investment, create jobs, and boost GDP growth, highlighted Lefu Mokaoane, former president of the Lesotho Institute of Accountants.
(With input from Xinhua; cover via CFP)
