China has said that it will further increase the scope of products enjoying zero-tariff treatment for the least developed countries (LDCs) having diplomatic relations with China and will open “green lanes” for African agricultural exports to China, speed up the inspection and quarantine procedures.
According to China government officials, this will be done in a bid to reach USD 300 billion in total imports from Africa in the next three years. China will also give continued support to the development of the African Continental Free Trade Area (AfCFTA).
The officials stated, other areas that China will enhance partnership include medical and health program, investment promotion, digital innovation, green development, capacity building, peace and security, and cultural exchange program.
Trade between China and Africa almost doubled between 2020 and 2021, and over the last 20 years trade between China and the region has increased twenty-fold, said China’s Ministry of Commerce.
Picture: The Economist Intelligence Unit Mapped Out Chinese Trade and Investment in Africa.
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