CHINA will sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states, Reuters reports.

The Asian economic giant offers duty - and quota-free market access to least developed countries (LDCs), including many in Africa, but the new initiative will level the playing field by also offering middle-income countries similar market access.

"China is ready to... welcome quality products from Africa to the Chinese market," China's foreign ministry said after a meeting of senior Chinese officials with African foreign ministers in Changsha to review implementation of commitments made during a summit in Beijing last September.

In recognition of the significant disadvantages that businesses from LDCs like Tanzania or Mali could face from their more developed counterparts like South Africa once the market is fully opened, China pledged additional measures to support LDCs, including training and marketing promotion.

Source：