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Economic Cooperation: China Exempt 33 African Countries from Customs Duties

16/12/2024
Source : ORISHAS FINANCE
Categories: Economy/Forex

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33 least developed African countries can now export 140 new products to China completely free of customs duties.

By opening the doors to its huge market, China aims to strengthen its economic cooperation with Africa. The products concerned remain mostly raw or unprocessed materials with low added value

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For the 33 beneficiary countries, the challenge lies in their ability to diversify their exports and move up the ladder in global value chains. However, the weakness of industrial infrastructures and logistical challenges often hamper the competitiveness of these nations. While the Chinese initiative strengthens diplomatic and commercial ties, it risks perpetuating an asymmetric relationship, where Africa continues to export raw materials and import finished products

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