China has abolished tariffs for all the world’s least developed countries

announced the Chinese government’s recent decision to extend the zero-tariff regime to all goods from all 53 African countries that have diplomatic relations with China. In addition to the zero-tariff initiative, China has pledged to help African least developed countries facilitate market access for their goods and increase the number and coverage of technical training programs for their citizens. According to the UN classification, the list of least developed countries, which is revised every three years, currently includes 44 of the world’s poorest low-income countries that face serious structural obstacles to sustainable development. They are highly vulnerable to economic and environmental shocks and have low levels of human resources, so they enjoy exclusive access to certain international support measures, in particular in the areas of development assistance and trade. The largest number of such countries is located in Africa – 32, in Asia – eight, three in the Pacific ...