China will grant zero-tariff treatment on 98% of taxable items originating from 10 least-developed countries including Uganda.
“This move will come into force on 1 December this year, “ said Amb. Zhang Lizhong, the Chinese Ambassador to Uganda, on Wednesday.
The 10 least-developed countries in question include; Afghanistan, Benin, Burkina Faso, Guinea Bissau, Lesotho, Malawi, Sao Tome and Principe, Tanzania, Uganda and Zambia.
The Customs Tariff Commission of the State Council, China’s Cabinet, said in an announcement that this decision is conducive to implementing China’s mutually beneficial and win-win strategy of opening up, advancing an open world economy and assisting the least developed countries to accelerate their development.
China will offer zero-traffic treatment gradually on 98 per cent of taxable products originating in countries in this category that have established diplomatic relations with China according to the progress of the exchange of letters.
According to the announcement, the policy will cover 8,786 items including agricultural products such as olive oil, cocoa powder and nuts, as well as various chemicals and product materials.
“The policy is conducive to opening up with a win-win approach, building an open economy in the world, and helping LDCs to accelerate their economic development, “ reads the statement.
The zero-tariff treatment for 98 per cent of taxable products offered to 16 LDCs including Togo, Djibouti, Laos and Rwanda, came into force on 1 September 2022.
