China waives tariffs for some African countries
10/01/2024 12
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On Christmas Day China introduced tariff waivers on most goods coming from Angola, the Democratic Republic of Congo (DRC), The Gambia, Mali, Madagascar and Mauritania, which will no longer have tariffs slapped on them when entering the Chinese market.
China is the biggest consumer of cobalt from DR Congo, while a booming café culture among Chinese youth is driving sales of coffee which is partly sourced from these countries.
China's new policy follows criticism that it focuses on buying mainly raw materials from the continent and not enough consumer products which boost African economic activity and industry development.
It's being touted by China's Customs Tariff Commission of the State Council as proof of "the spirit of China-Africa friendship and cooperation" leading to "a high-quality China-Africa community with a shared future".
At present, more than 20 other African nations already have tariff-free deals with China, according to the South China Morning Post.
Source:Freight News
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