Adedapo Adesanya
By Adedapo Adesanya
China will grant zero-tariff treatment to 98 per cent of taxable items from 10 least-developed countries in a bid to promote an open global economy.
Starting from December 1, China will waive all tariffs on 98 per cent of the related imports from Afghanistan, Benin, Burkina Faso, Guinea-Bissau, Lesotho, Malawi, Sao Tome, and Principe, Tanzania, Uganda and Zambia, according to the Customs Tariff Commission of the State Council.
The step is conducive to opening up with win-win outcomes, building an open global economy, and helping least-developed countries to accelerate their development, the commission said.
This policy measure will gradually expand to all the least-developed countries that have established diplomatic ties with China, it added.
China has been promoting its ideas about global governance, economic growth, and international relations. Through this type of initiative, China’s new leadership aspires to gain influence at institutions to inject these notions into global discourse.
Through its Belt and Road Initiative (BRI), China injected massive infrastructure projects throughout Africa. At the inaugural Forum on China-Africa Cooperation (FOCAC) conducted under Xi Jinping’s presidency, China’s administration increased its financial pledges and persuaded more African states to endorse Beijing’s positions at the United Nations.
At the recent Communist Party Congress in Beijing, Xi received approval for a third term in power. The events during the meeting with Xi and other prominent leaders piqued the curiosity of African countries with a keen interest in Africa-China relations.
Xi Jinping has elevated the China-Africa friendship to its most significant level since Mao Zedong’s reign. Analysts say with Xi getting a third five-year term and perhaps staying in power even longer, Africa-China relations will strengthen further. Thus, Africa will remain pivotal in China’s plans for global economic control.
