China removes tax on Malawian products

Malawi and China have had diplomatic relations since 2008 with the Chinese government funding several projects cutting across many sectors in the country.. China has agreed to remove all punitive tariffs on Malawian products to improve trade between the two countries, Malawi President Lazarus Chakwera said Sunday. Chakwera said that during bilateral talks with his Chinese counterpart, Xi Jinping, it was “decided to remove the taxes, which have been stifling businesses and creating trade imbalances between our two countries.” Describing his trip as successful, he said the development will create a favourable market for Malawi goods in China. “The punitive tariffs have been an issue of concern for a long time. They have been affecting Malawian traders wishing to broaden markets for their products in China. This development therefore is a huge opportunity for this country. Let’s therefore seize it and explore as many markets as possible in China,” he said. 'Right direction' Chakwera said the development is “a move in the right direction, which would boost trade between the two countries.” Malawi and China have had diplomatic relations since 2008. Since then, the Chinese government has been funding several projects cutting across many sectors in the country. Chakwera was among 50 African heads of state attending the China-Africa Cooperation (FOCAC) summit, a forum between China and all African countries. ➤ Click here to follow our WhatsApp channel for more stories.