Zimbabwe: leather industry to benefit from China’s tariff reductions
Former Zimbabwean ambassador to China and businessman Chris Mutsvangwa has told local Chinese media that China’s assistance is helpful because it comes at a time when the world economy is unstable, especially in the euro zone.
The Chinese government recently decided to reduce tariffs on imports from least developed countries (LDCs) with which it has diplomatic relations, to help African countries including Zimbabwe to play a bigger role in international trade.
During the G-20 summit in Cannes (3-4 November, 2011) and the Asia-Pacific Economic Cooperation (APEC) meeting in Honolulu, President Hu Jintao announced that China would give duty-free status to 97% of the tariff items of exports to China from the LDCs, provided they have diplomatic relations with China.
“So much the better because the reduction of tariffs will increase Africa’s trade and boost its industries. Africa is finally taking part in world commerce unlike in the past when the West was discriminating against products from the continent, unless there was a monopoly like in the case of cocoa and tobacco,” said Mr Jintao.
Mr Mutsvangwa said the Chinese gesture was taking place under the Forum for China-Africa Cooperation. He said the Ethiopian leather industry was benefitting from Chinese assistance, and Zimbabwe could also engage the Chinese for its leather and help grow its economy and industry.
“Zimbabwe, with its potential in the leather industry, can also benefit. China has access to the world market and partnerships can be forged between China’s technology and Africa’s resources. Trade is better than aid,” he said.
