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Duty-free status to imports of Bangladeshi RMG
26 May '10
1 min read
Around 46 varieties of ready-made garments manufactured in Bangladesh have been extended duty-free access in to South Korean markets, with the rest attracting 10 percent duty.
This was revealed by the Ambassador of South Korea, Mr Taiyoung Cho at a press briefing, yesterday. This has come on back of a request from Bangladesh to free exports of all goods from payment of duty.
Mr Cho said, “South Korea has extended duty-free status to 85 percent of the tariff lines and the rest of the 15 percent too will be considered for the status over a period of time in the next few years”.
Export of jute products will attract only one percent duty. The trade balance is heavily tilted in favour of South Korea, as exports from that country amounted to US $one billion and imports totaled to just $122 million in 2009.
This was revealed by the Ambassador of South Korea, Mr Taiyoung Cho at a press briefing, yesterday. This has come on back of a request from Bangladesh to free exports of all goods from payment of duty.
Mr Cho said, “South Korea has extended duty-free status to 85 percent of the tariff lines and the rest of the 15 percent too will be considered for the status over a period of time in the next few years”.
Export of jute products will attract only one percent duty. The trade balance is heavily tilted in favour of South Korea, as exports from that country amounted to US $one billion and imports totaled to just $122 million in 2009.
Fibre2fashion News Desk - India
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