Online Reporter
China has notified the World Trade Organisation (WTO) of its expanded zero-tariff policy for least developed countries (LDCs) that maintain diplomatic relations with Beijing, raising product coverage from 98 percent to 100 percent.
The new policy, which took effect on December 1, 2024, is part of China’s broader efforts to further open up to LDCs and African nations, the Chinese delegation said at a WTO meeting in Geneva yesterday.
The delegation also briefed WTO members on a recent China-Africa declaration, in which China expressed readiness to extend the zero-tariff treatment to cover 100 percent of tariff lines for all 53 African countries that have diplomatic ties with China.
In addition to the zero-tariff initiative, China pledged further steps to promote trade in goods, and to strengthen skills and technical training programs for African LDCs.
According to the delegation, these measures aim to create new development opportunities and growth momentum for African countries and LDCs, while also contributing to the stability and positive momentum of global trade.
Amid ongoing turbulence in international trade, China called on all WTO members to jointly uphold a free and open international economic and trade order, and to promote inclusive and universally beneficial globalisation.
China’s measures were broadly welcomed by WTO members. Representatives from LDCs, African countries and other economies expressed appreciation, highlighting the unprecedented challenges and uncertainties faced by developing nations.
They urged more members to follow China’s example by offering targeted preferential policies, capacity-building assistance, and other support to LDCs to advance inclusive and sustainable global trade development. — Global Times
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