Beijing cancels import tariffs on 98 percent of Angolan products

2023-12-13 01:17:47

The Chinese Government canceled the import tariff on 98 percent of Angolan products entering its gigantic market.

This tariff relief is extended to five more African countries, Gambia, Democratic Republic of Congo (DRC), Madagascar, Mali and Mauritania and comes into force on December 25th.

Among the countries benefiting are some of the richest in raw materials, namely the DRC, which is the source of more than 60 percent of China’s cobalt imports, and Angola, a major exporter of oil and diamonds.

The Customs Tariff Commission of the State Council, which announced the decision, said it aims to symbolize “the spirit of China-Africa friendship and cooperation” and facilitate “a high-quality China-Africa community with a shared future.”

China has increased imports of agricultural products from Africa, including avocados, cashew nuts, sesame seeds and chillies, as agriculture becomes the new focus of its engagement with the continent.

In the last two years, another 21 African countries had already benefited from the cancellation of tariffs on 98 percent of their products.

The Chinese President introduced the tariff cuts in 2021 during the Forum on China-Africa Cooperation (FOCAC) held in November 2021 in the Senegalese capital, Dakar, when he promised to open “green lanes” for African agricultural exports to China, expand the range of products covered by zero-tariff treatment and speed up the visa process.

Xi Jinping said at the time that his country intends to import products worth US$300 billion from Africa by 2024.

Data from China’s General Administration of Customs reveal that trade between China and Africa reached US$234.8 billion in the first 10 months of 2023. Exports to China amounted to US$91.5 billion of the 2023 value .