Amid India-China Border Row, Bangladesh embraced by China over trade

Amid India-China Border Row, Bangladesh embraced by China over trade

“Beijing grants a whooping of tariff exemption to 97% of Dhaka exports”

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Srinagar: In a significant trade development the China has announced tariff exemption for 97% of exports from Bangladesh.

The Diplomatic sources of Bangladesh have described the Chinese move as a “major success” in Dhaka-Beijing relationship.

In a significant move the Ministry of Foreign Affairs of Bangladesh announced on Friday that 97% of items covering fisheries and leather products would be exempted of Chinese tariffs.

The developments from Beijing came a month after Prime Minister Sheikh Hasina and President Xi Jinping discussed enhancing bilateral relation in the background of the economic hardship triggered by the COVID-19 pandemic.

“As part of our economic diplomacy, Bangladesh had written to China to exempt our export items from tariffs. In response to this China’s State Council Tariff Commission has issued a notification recently. Bangladesh is among the Least Developed Countries (LDCs) and that is why this decision was taken by China”, announced Mohammed Touhidul Islam, Senior Information Officer of the Ministry of Foreign Affairs.

He further added that, “Bangladesh already receives tariff-exemption for 3,095 items under the Asia Pacific Trade Agreement (APTA). As a result of the latest announcement, a total of 8,256 goods from Bangladesh will be exempted of Chinese tariffs”. (Kashmir Glacier)

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