The duty-free treatment of 98 per cent tariff lines goods will help Bangladesh to further increase its export to China, says the Chinese Embassy in Dhaka on Tuesday.
State Councilor and Foreign Minister Wang Yi during his recent visit to Bangladesh, announced that the duty-free treatment of 98 per cent tariff lines goods originating from Bangladesh exported to China will take into effect on September 1.
This will further help to boost Bangladesh’s export to China, said the Embassy.
Several kinds of basic leather products added into the 98 per cent zero-tariff lines are "good news" to Bangladeshi exporters in the leather industry, which is an industry with huge potential in Bangladesh, said the Chinese side.
Businessmen in the leather industry have already been focusing on the opportunity provided by the 98 per cent duty-free treatment, according to the Chinese Embassy.
Programs are undergoing and helping Chinese manufacturing enterprises related to leather products forming business relations with Bangladesh’s leather exporters, it said.
Bangladesh has many high-quality agricultural, livestock and fishery products.
For example, China said, the national fish of Bangladesh, the hilsa, is among both the 97 per cent and the 98 per cent zero tariff lines, and has already acquired inspection and quarantine access to the Chinese market.
Bangladesh’s mango, jackfruit, guava, honey, and beef are all listed as duty-free products in both the 97 per cent and the 98 per cent tariff lines.
Varied by different categories of tariff lines, compared with the duty-free treatment of 97 per cent tariff lines, there are more than several hundreds of tariff lines added to the 98 per cent duty-free treatment tariff lines, such as some agricultural products, crude oil of ground nut, crude cotton-seed oil, liquid crystal display panel, paper product, saloon cars and chemicals, said the embassy.