Ethiopian Informer(Xinhua) — The Chinese Embassy in Guinea-Bissau on Monday held a seminar on China’s zero-tariff policy for 53 African countries with diplomatic relations, attracting more than 70 local and Chinese enterprises.
The event briefed participants on the details of the policy and included business matchmaking exchanges between companies from the two sides.
Lassana Fati, director general of foreign trade of Guinea-Bissau, said in a speech on behalf of Minister of Trade and Industry Jaimentino Co that China’s zero-tariff policy brings “important economic and trade opportunities to African countries” and represents a “concrete move” by China to support Africa in improving people’s livelihoods, reducing poverty, and advancing development and revitalization.
Fati said agriculture is a pillar of Guinea-Bissau’s economy, but limited market access and insufficient export channels have long constrained the sector’s development.
He described China’s zero-tariff policy as “substantial economic support” and a form of practical cooperation based on sincerity, mutual trust, and mutual benefit.
Chinese Ambassador to Guinea-Bissau Yang Renhuo said China had already taken the lead in granting zero-tariff treatment to 33 least developed African countries, including Guinea-Bissau, starting Dec. 1, 2024, and the expansion to 53 countries is not only a widening of policy coverage, but also a concrete action by China to support African integration and the development of the African Continental Free Trade Area.
The zero-tariff treatment granted by China to Guinea-Bissau will help facilitate exports of the country’s quality products, such as cashew nuts, fishery products, sesame and peanuts, to the Chinese market, and inject strong momentum into deepening bilateral economic and trade cooperation and advancing their strategic partnership, he said.
Saliu Ba, secretary general of the Chamber of Commerce, Industry, Agriculture and Services of Guinea-Bissau, told Xinhua that China’s zero-tariff policy is a “major boost” for Guinea-Bissau’s domestic products, especially those from the fishery and agricultural sectors.
Ba said local businesses are ready and hope to use the policy to bring more Guinea-Bissau products into the Chinese market.
During the event, the Association of Chinese Enterprises in Guinea-Bissau and the Chamber of Commerce, Industry, Agriculture and Services of Guinea-Bissau signed a joint initiative, pledging to help enterprises make good use of the benefits of the zero-tariff policy and deepen bilateral economic and trade cooperation.
