Sigma Capital

16-09-2024

China exempts products from least developed countries from customs duties

Source: MIST

Al Mal-


China has decided to grant zero-tariff treatment to all least developed countries (LDCs) that have diplomatic relations with Beijing on 100 percent tariff lines, according to a statement from the General Administration of Customs of the State Council, Xinhua reported.

The treatment, which will take effect from Dec. 1 this year, aims to expand unilateral opening-up to LDCs and achieve common development, the statement said.

For products subject to quota administration, goods within the relevant quota will enjoy zero tariffs, while tariff rates on goods above the quota will remain unchanged.