China boosts tariff-free access for African countries
- Nine of the poorest countries on the continent will not pay duties on 98 per cent of their exports to China as a result of the measure
- The move comes as Beijing is looking to expand agricultural imports from the region
China has removed all tariffs on 98 per cent of the goods imported from 16 of the least developed countries, most of them in Africa.
The policy, which came into force on Thursday, will cover imports from the Central African Republic, Chad, Djibouti, Eritrea, Guinea, Mozambique, Rwanda, Sudan and Togo, as well as a number of countries from Asia and the South Pacific.
The policy will gradually expand to all least-developed countries and increase imports from Africa, the Customs Tariff Commission said in August.
Granting market access is part of China’s plan to grow imports of agricultural products from Africa – a source market dominated by raw materials such as oil, cobalt and copper.
According to Chinese customs data, trade with Africa rose by 35 per cent last year to a record high of US$254 billion, with imports reaching US$106 billion.