Lesotho and China Boost Trade Ties with Zero-Tariff Policy
1 report, 1 independent
Updated Jan 1
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What happened
Lesotho and China strengthened bilateral relations, focusing on cooperation in infrastructure, health, and energy. The Chinese Ambassador noted that China offers a zero-tariff policy to African countries with diplomatic ties, which is intended to create opportunities for Lesotho's businesses and farmers.
From bignewsnetwork.com
Why it matters
The zero-tariff policy is designed to increase access for Lesotho's products, such as wool, into the Chinese market. Furthermore, cooperation in energy and infrastructure supports Lesotho's economic development.
From bignewsnetwork.com
Who's involved
- LesothoSovereign state establishing bilateral cooperation and zero-tariff export policy with China
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The entities involved
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Lesotho
sovereign state in southern Africa
Related events
- LIA supports Lesotho's economic development.
- China, led by Xi Jinping, commended Lesotho's economic resilience and congratulated it on its independence.
- Lesotho is involved in continental efforts, with the World Bank Group providing financing agreements.
- Basotho businesses operate across the Lesotho economy, and the Ministry of Trade, Industry and Business Development is a line ministry of Lesotho.
- Agricultural exchange focused on food security between Lesotho and Kenya.