By Francis Kobena Tandoh
Ghana will be among the first countries to benefit from the zero-tariff treatment for 100 percent of tariff lines China offered to African countries that have diplomatic relations, Chinese Ambassador to Ghana H.E. Tong Defa announced on Friday.
Addressing journalists and think tanks at a briefing in the Ghanaian capital, Accra, he observed that the two countries have reached consensus in principle on the early harvest arrangements of the agreement on economic partnership for shared development.
The Chinese Ambassador disclosed that working teams from the two countries were working very hard to reach an agreement on the arrangement of the policy and also collaborating to implement it at an early date.
He described the policy as providing development opportunities for Ghana and other developing countries.
“It is a proactive and unilateral measure taken by China to expand its opening up, aimed at providing new development opportunities for developing countries, particularly in Africa,” said the Chinese Ambassador to Ghana.
After the implementation of the zero-tariff policy, Ghanaian products, including cocoa products, cashews, rice, shea butter, textiles, and handicrafts, can be better exported to the Chinese market.
The initiative will help to activate production capacity, attract more investment, promote the continuous extension of the industrial chain, drive the overall industrial development, and share the achievements of China’s super-large market and Chinese modernization development achievements.
H.E. Tong observed that the zero-tariff policy is a boost for the 24-hour economy policy by the government and expressed optimism that the West African country will derive maximum benefit from it.
He added, “China values Ghana as the location of the AfCFTA Secretariat. China’s market is always open to Ghana, and the door will open even wider. This is a pragmatic measure by China to support the “24-Hour Economy,” and we hope that Ghana will benefit from it as early as possible.”
Sylvia Sinkari, a research fellow at the Africa-China Centre for Policy and Advisory (ACCPA), observed that the zero-tariff policy is a testament to the deepening relations between Ghana and China.
“The zero-tariff policy is a testament to the strong bilateral relations between Ghana and China. We believe that with careful management and strategic partnerships, we can both unlock new opportunities for economic growth, job creation, and sustainable development,” said Sinkari.
During the Forum on China-Africa Cooperation (FOCAC) Summit last year, China announced that it would give all the least developed countries that have diplomatic relations with China, including 33 African countries, zero-tariff treatment for 100 percent of tariff lines. Enditem
Source: Ghana Eye Report
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