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Gambia Among African Countries To Enjoy Tax Waiver For China Market

 

The Gambia, along with Angola, Congo, Madagascar, Mali and Mauritania will not pay duties on 98 per cent of taxable products starting January 2024.

Beijing has granted these six African countries zero-tariff treatment on 98 per cent of products entering the Chinese market. This forms part of Chinese President Xi Jinping’s plan to boost agricultural imports from the continent.

 

 

According to the United Nations COMTRADE database on international trade. Gambia Exports to China – data, historical chart and statistics, Gambia Exports to China was US$7.67 Million during 2021.

From September 1, 2022 to August 1, 2023, merchandise trade in the form of I ports from The Gambia data was reported at 5.002 USD million. Gambia data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade.

“This records a decrease from the previous number of 5.517 USD million for July 2023. Gambia data is updated monthly, averaging 1.361 USD million from January 2001 to August 2023, with 272 observations. The data reached an all-time high of 18.762 USD million in March 2013 and a record low of 0.000 USD million in April 2009,” the data reveals.

The Gambia henceforth will be joining dozens of others granted tariff relief as part of this new waivers. The statement from Beijing this week said China aims to import more agricultural goods from least-developed countries, amid criticism that it mostly buys raw materials from the continent.

China’s Ambassador to The Gambia Liu Jin, in an article published on their embassy wesbite entitled “Promoting High-Quality Belt and Road Cooperation Creating a New Chapter of China-Gambia Relations” in October 2023 wrote that China has provided The Gambia with multiple batches of large-scale food aid, and Chinese agricultural experts have implemented agricultural technology cooperation projects, helping to cultivate high-yield rice varieties and transfer agricultural knowledge to Gambian farmers, actively contributing to The Gambia’s food security and self-sufficiency. The high-yield rice seeds cultivated by Chinese agricultural experts have a yield of 10.7 tons/Ha, which is nearly three times of the local rice varieties.

China is actively promoting the Greater Banjul Area Electricity Improvement Project in collaboration with The Gambia, assisting in resolving issues related to aging power lines and overloads. This project will contribute significantly to The Gambia’s economic development and the well-being of local people.

“China actively promotes trade and investment cooperation with The Gambia. The two sides have signed an exchange of letters on China granting duty-free treatment for imported goods from The Gambia that cover 98 percent of the tariff lines. China fully supports The Gambia’s participation in the 3rd China-Africa Economic and Trade Expo and the 6th China International Import Expo this year, helping The Gambia’s high-quality agricultural products enter the Chinese market of 1.4 billion people. I believe that it won’t be long before Gambian agricultural products like peanuts, mangoes, and cashews on dinner tables of families in China,” the diplomat said.

 

 

 

 

 

 

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