ZAMBIA PRIVATE SECTOR WELCOME CHINESE ZERO-TARIFF OFFER

The private sector in Zambia has commended China over its decision to grant zero-tariff status to some Least Developed Countries –LDCs.

Yusuf Dodia, the chairperson of the Private Sector Development Association has told the Chinese news agency, Xinhua that the gesture would increase trade opportunities for Zambians.

Mr Dodia says the move will allow countries such as Zambia broaden its trading capacity and expand the capacity to export products.

According to the PSDA, Zambia's trade in the last 10 years has been dominated by the European Union with 50 percent while China is at 20 percent, with the rest shared by other countries.

While acknowledging that China has become one of Zambia's largest trading partners, Mr Dodia has said the move will allow Zambia to enhance its exports to China, a situation that will result in the country's economy growing even further.

During the recently concluded G-20 summit in Cannes and the Asia-Pacific Economic Cooperation in Honolulu, Chinese President, Hu Jintao announced that China would give duty- free status to 97 percent of the tariff items of the LDCs, which have diplomatic relations ties with his country.