By Francis Kobena Tandoh
Chinese Ambassador to Ghana, H.E. Cong Song, said late Monday that the government of China will continue to promote partnerships that will lead to shared development.
In his maiden press briefing to the media and some think tanks in the West African country, he emphasized that the current global uncertainty and volatility make a strong case for the zero-tariff treatment introduced by the Chinese government for the 53 African countries that have diplomatic ties with the Asian country, all least developed countries (LDCs) with which it has diplomatic relations.
He stressed that China will introduce partnerships and agreements that will be of mutual benefit to both countries.
“As protectionism and unilateralism are on the rise, African countries are hit by spillovers of the situation in the Middle East. In the situation of current global economic turmoil, China will continue to promote the negotiation and signing of economic partnership agreements for shared development,” he said.
Ambassador Cong explained that the zero-tariff treatment presents new frontiers to trade and investment between China and African countries.
“The zero-tariff treatment will undoubtedly bring unprecedented new opportunities to African countries, including Ghana, injecting strong momentum into China-Africa trade and investment cooperation and the modernization of the African economy,” added the Chinese ambassador to Ghana.
He highlighted some of the benefits that the policy presents as including lowering the cost for African products entering the Chinese market, thereby giving them a competitive advantage; integrating trade and investment; promoting the diversification of African exports; increasing added value; and optimizing the export structure.
The zero-tariff treatment, the Chinese ambassador further emphasized, will also promote cooperation between China and Africa in areas such as service trade, digital trade, green industries, and sustainable development; drive the continuous extension of industrial chains in various fields; promote overall industrial development; greatly enhance Africa’s capacity for independent development; and enable African countries such as Ghana to firmly grasp the initiative in development and accelerate their modernization processes.
Chinese President Xi Jinping announced on Feb. 14 at the 39th African Union Summit that China would implement zero-tariff treatment on all products from 53 African countries that have diplomatic relations with China, starting on May 1.
Subsequently, the policy took effect early this month with quite a number of products entering the over 1.4 billion market in China.
China becomes the first major economy in the world to unilaterally grant full zero-tariff treatment to all African countries with diplomatic ties and to all the least developed countries with which it has diplomatic relations.
In Ghana, cocoa products, cashews, shea butter, textiles, and handicrafts can now be exported to China more easily with zero tariffs on exports, which will effectively enhance the competitiveness of Ghanaian products in the vast Chinese market and fully activate Ghana’s export potential. Enditem
Source: Ghana Eye Report
