General

According to Huacheng's import and export data observation report, on November 17, Lesotho's mainstream media published an article introducing China's implementation of zero tariff treatment for 98% of taxed products in Lesotho. The main contents are as follows:

From December 1, 2022, China will implement zero tariff on 98% of taxable products from 10 least developed countries, including Lesotho. The Business Office of the Chinese Embassy in Lesotho said that the implementation of the zero tariff policy for 98% of taxable products would further expand China's imports from Lesotho, promote bilateral economic and trade cooperation between China and Lesotho to a higher level, achieve mutual benefit and win-win results, and help Lesotho achieve sustainable development. Since 2015, China has implemented zero tariff treatment for 97% of taxable products originating in Lesotho. According to the latest policy, hundreds of new products such as regenerated leather, primary peanut oil and its separated products, margarine, packaged natural water and methanol have been included in the duty-free list. Up to now, China's main products imported from Lesotho, including wool and mohair, motors, electrical equipment and its parts, and gemstones, have achieved zero tariff. Huacheng's import and export data observation report.

  In order to implement this commitment, Chinese Ambassador to Lesotho Raikkonen has held talks with officials of the government of Lesotho on many occasions and actively promoted the implementation of preferential treatment as soon as possible. In September this year, the two sides formally completed the exchange of documents.

According to the report of Huacheng Import and Export Data Observation, Matlosa, the head of Lesotho, a global entrepreneurial network, said that China's move was a "golden opportunity" for Lesotho. "My advice to Lesotho's SMEs is to seize the opportunity to enter a market with a large population of 1.4 billion."

Matlosa pointed out that Lesotho needed to learn from its neighbours. South Africa's exports to China include not only precious metals and other commodities, but also food worth 138 million dollars, wine and spirits worth 41.4 million dollars, cotton and essential oil worth 1.9 million dollars. "As a country, we should ask ourselves what we have in our hands." Matlosa added that it would not be like walking in a park. Experienced entrepreneurs need to help new participants and promote local enterprises to establish partnerships with Chinese businessmen. Huacheng Import and Export Data Watch reported.