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China will eliminate import duties for goods from six African countries


December, 11 2023
watermark Economic news

China announced the introduction of zero import duties for 98% of goods from Angola, Zambia, the Democratic Republic of the Congo, Madagascar, Mali and Mauritania from December 25. This step is aimed at developing cooperation between China and African countries.


Earlier, on December 1, 2022, China abolished duties on goods imported from Afghanistan, Benin, Burkina Faso, Guinea-Bissau, Lesotho, Malawi, Sao Tome and Principe, Tanzania, Uganda and Zambia. 


Since March 1, 2023, similar actions have been taken with respect to goods from Ethiopia, Burundi and Niger.


The Committee on Customs Tariffs under the State Council of the People's Republic of China also announced that China will gradually extend such a regime to all least developed countries with which it has established diplomatic relations.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.