China announces duty-free access to 99% of Bangladeshi goods

GBNEWS24DESK//

China has announced duty-free access to 99 per cent of Bangladeshi goods, raising from the existing 98 per cent.

It has been seen a major win for the local exporters during Chinese Foreign Minister Wang Yi’s Dhaka visit.

Yi discussed the decision during a bilateral meeting with Bangladesh Foreign Minister AK Abdul Momen on Sunday.

“It’s good news for Bangladesh as we have a thriving economy based on exports,” said State Minister for Foreign Affairs Shahriar Alam.

”We already had duty-free access for 98 percent of items exported to China. The remaining 2 percent, like any other bilateral trade, has been important and sensitive. Now, they have offered duty-free access to 1 percent more from Sept 1.”

The state minister said the new tax advantage is likely to include garments and woven products and other products that had previously faced some restrictions.

“We’ll get the list [of the products] in the evening. The councillor of commerce said he would provide the list to the press,” he said.

The decision is the biggest success of the visit by the Chinese Foreign Minister, said Shahriar Alam.