China removes custom duties on 98% of products it imports from Togo

Economic governance
Friday, 09 September 2022 16:41
China removes custom duties on 98% of products it imports from Togo

(Togo First) - China removes customs duties on 98% of the products it imports from Togo and eight other African countries. The measure, which is effective since September 1, 2022, is part of the new tariff policy that China announced last month. 

According to Ecofin Agency, which quoted Chinese customs services, the eight other countries are the Central African Republic, Chad, Djibouti, Eritrea, Guinea, Mozambique, Rwanda, and Sudan.

The same source indicated that the move would help Beijing secure its imports of agricultural products, minerals, and hydrocarbons, as global supply chains are disrupted.

Indeed, last November, Chinese President Xi Jinping unveiled his country’s ambition to import more agricultural products from Africa. The leader said so during the 8th Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC 8) in Dakar. 

Cotton, cocoa, and other cash crops

In Togo, cash crop exporters will benefit most from China’s measure. The West African nation’s main exports to the Middle Empire are cotton, cocoa, and other plant and agricultural products, according to the UN's Comtrade aggregator.

In 2021, trade between China and Togo was estimated at about $3 billion, up 33% compared to 2020 when it was slightly over CFAF 2 billion. The lower figure was attributed to Covid-19 and the restrictions it induced.

Written by: Ayi Renaud Dossavi

Translated from French by Schadrac Akinocho

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