6 March 2018

Tanzania: China to Relax Restrictions On Market Access

TANZANIA's second largest import partner, China, yesterday launched its first session of the 13th National People's Congress, assuring its trading partners that it will increase the quality and added value of its exports

. The largest of East African countries imports a variety of products from the East Asian nation, including rubber tires, motorcycles, tractors, iron structures and variety of light goods. China, the second largest world's economy, according to the World Bank reports, said it is going to do this by encouraging the export of new and high technology, equipment manufacturing and Chinese-brand products

In the recent years, African markets were reportedly flooded with low quality of the East Asian country's products, a blame which however, China officials repeatedly shifted to importers of its products, especially in Africa, for concentrating on pricing at the expense of quality.

According to a report on the implementation of the 2017 plan for the national Economic and social development and on the 2018 draft for national economic and social development released yesterday at the first session of the 13th National People's Congress in Beijing, China will take solid steps to make it a trader of quality.

The document made available to the members of press further revealed that China is also set to promote a balance in foreign trade by actively expanding imports and lowering import tariffs on certain products such as automobiles and some non durable consumer goods. "We will relax restrictions on market access in an orderly fashion, expanding the scale of opening up in finance, telecommunications, education and other sectors," reads part of the 64-paged document

The document prepared by the China's National Development and Reforms Commission also stipulated that the country will improve laws concerning foreign investment and protect the legitimate rights and interests of the foreign investors.

The document also reveals the country's economic globalisation plan as a part of deepening cooperation in bilateral and multilateral investment and trade. A number of annual meetings to be held as part of this initiative include the 2018 Summit of Forum on China-Africa Cooperation, the First China In ternational Import Expo and other diplomatic events. Tanzania is China's largest aid recipient country in Africa.

Since 1964 China has provided various kinds of assistance to Tanzania. The largest Chinese-supported projects in Tanzania include, Tanzania Zambia Railway (TAZARA), Dar es Salaam based Urafiki Textile Mill, Mbarali Rice Farm, Kiwira Coal Mine and Mahonda Sugar Cane Factory.

This year's China expenditure is budgeted at 21 trillion yuan (about 3.3 trillion US dollars). Available data shows China's development has pushed the global economy, and its contribution to world economic growth exceeded 30 per cent in 2017.

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