Duty-free access for all products from Bangladesh to China from December
Bangladesh, along with other least developed countries (LDCs), will enjoy zero-tariff access when exporting any product to China from December 1 this year.
A statement from the Chinese embassy in Dhaka said its Tariff Commission decided to open its markets for all products from the LDCs having diplomatic relations with China, including 33 countries in Africa.
According to the statement, China has become the first major developing country and economy to take such a step, offering broader market access to LDCs. The announcement aligns with President Xi Jinping's earlier pledge at the Beijing Summit of the Forum on China-Africa Cooperation, where he promised to further open China’s markets voluntarily and unilaterally.
China had already provided significant tariff reductions to Bangladesh in previous years. In 2022, 98 percent of Bangladeshi goods, including leather products, gained duty-free access to China, following a similar move in 2020 that covered 97 percent of its exports.
As Bangladesh’s largest trading partner, China exported over $18.6 billion worth of goods to Bangladesh in the fiscal year 2022-23, while Bangladesh’s exports to China amounted to approximately $676 million.
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