President John Dramani Mahama has announced that Ghana and China have reached an agreement in principle to implement a zero-tariff policy on exports.

This move is expected to boost trading opportunities and strengthen economic ties between China and Ghana or Africa as a whole.

Speaking at the Presidential Investment Forum in Beijing, China, on October 14, President Mahama highlighted the growing trade relationship between the two nations.

He noted that between 2020 and 2024, China’s exports to Ghana rose by nearly 46% while Ghana’s exports to China increased by over 11% within the same period.

“China’s decision to grant zero-tariff access to Ghanaian and African products signals the confidence in our partnership. It opens vast markets for Ghanaian exporters, agro-processors, and manufacturers,” he said.

The zero-tariff principle means Ghanaian and African goods will be allowed into the Chinese market without import duties.

“I’m happy to inform you that we have reached agreement in principle, as we have targeted the end of October to be able to sign off on the zero-tariff principle,” Mahama announced.

He further praised the Chinese government for this act.

“I wish to commend the government of China for this act of solidarity.”

President Mahama also commended the timing of the initiative, stressing that it demonstrates China’s commitment to fair trade at a time when trade systems are being undermined.

“We all know that the multilateral rules-based trading system is being upended by the unilateral slapping of tariffs on different countries,” he said.

“This is the time for us to solidarize and to come together. This initiative by China is very timely.”