99% Bangladeshi products to get duty-free access in China
China is going to expand duty-free access to 99 percent of Bangladeshi goods including key export items like apparels_ jute and leather products and frozen fish_ Foreign Minister AK Abdul Momen has said.
The additional offer for 1 percent products on top of existing 98 percent came Sunday during the visit of Chinese Foreign Minister Wang Yi. The new market advantage will be effective from 1 September.
'Chinese Foreign Minister Wang Yi said that his country will give Bangladesh another 1 percent duty-free facility in the case of Bangladeshi products exports. Bangladesh will be able to export 99 percent of its exports to China duty-free_' State Minister Shahriar Alam said briefing the media after the meeting.
Bangladesh and China have signed a total of 4 memoranda of understanding (MoUs) with the aim to boost bilateral cooperation. Disaster management_ cultural exchange (renewal) and marine science cooperation are among the signed documents. Chinese Ambassador Li Jiming and high-level Bangladesh government officials inked the deals during an event held in Dhaka_ on Sunday.
'All the Bangladeshi products readymade garments_ jute and jute-made products_ leather and leather goods_ frozen fish_ agricultural products and light engineering items are already getting the duty-free access_' Noor Md Mahbubul Haq_ additional secretary to the Commerce Ministry (FTA)_ told that.
China had been providing 97 percent duty-free facility to 8_256 Bangladeshi goods_ including all garment products_ since 1 July 2021.
Adding more 383 new goods including leather items to the list_ the facility was expanded to 98 percent later.
Trade data showed Bangladesh's exports to China stood at 683 million US dollar in the last financial year_ while it was at 680 million dollar in the previous year.
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