11.08.10 00:33 Age: 8 yrs
China to import goods of the least developed countries with zero-tariff
The Customs Tariff Commission of the State Council announced that China has decided to charge no tariff from July 1, 2010 for the products imported from 26 least developed countries in Africa who has changed notes with China, as much as 60% of the products originally produced in the preceding countries will have zero-tariff.
According to the policy of adopting zero-tariff on certain goods of 32 least developed countries in Africa including Ethiopia, which aims to promote the exportation of African products to China and help develop the nature resources in Africa, Chinese government will extend the scope of the zero-tariff products gradually to 95% in 3 years following 2010. China has provided zero-tariff importation from Africa since 2005, and after the 2006 Beijing Summit of the Forum on China-Africa Cooperation, this policy has been adopted in a larger area and more goods.
“In recent years, the exemption of tariff has obtained and obvious effect and improved the exportation of African goods to China, helped open the African market and made African exported goods more competitive.” said Edward E, Lehman, Managing Director of Lehman, Lee & Xu.
Now the notes exchanging between China and the four countries Angola, Senegal, Niger, Somalia is proceeding, and the policy might be taken into effect at the beginning of next year.