At the 9th Forum on China-Africa Cooperation (FOCAC) held in Beijing from September 4 to 6, China unveiled a significant economic initiative aimed at enhancing trade relations with least-developed countries. Among the 33 African nations benefiting from this policy, Madagascar stands out as a key recipient, set to gain immensely from the new zero-tariff treatment applied to 100 percent of tariff lines.
This strategic move includes the establishment of green channels for quarantine inspection, harmonized standards, and expedited customs clearance processes. These measures are designed to streamline the export of agricultural products from Madagascar to China, potentially boosting the island nation's economy and fostering sustainable growth.
Madagascar President Andry Nirina Rajoelina, during his visit to China for the 2024 FOCAC Summit, emphasized the transformative potential of these policies. In an exclusive interview with CMG's Zou Yun, President Rajoelina highlighted the critical role of China's cutting-edge technology in revolutionizing Madagascar's agricultural sector. \"China's cutting-edge technology can bring about real change through agricultural transformation,\" he stated.
Beyond agriculture, President Rajoelina extended an invitation to Chinese companies to participate in Madagascar's broader industrialization efforts. His visit also included stops at the Hunan Hybrid Rice Research Center and the Longping Rice Park, underlining Madagascar's commitment to leveraging hybrid rice technology to enhance food security and agricultural productivity.
By embracing these zero-tariff policies and technological collaborations, Madagascar is poised to not only increase its agricultural exports but also to foster a more robust and diversified economy. This partnership exemplifies the growing economic ties between China and African nations, aiming for mutual growth and development.
Reference(s):
cgtn.com
