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Bangladesh positive on gaining duty waiver for textile items
27
Jan '11
Bangladesh Commerce Minister Faruk Khan recently said that, the country is still positive about gaining duty exemption for 61 items intended for export to India. It is believed that this exemption may be granted with a view to narrow down the trade gap existing between the two nations.

Officially the trade disparity between the two nations is greatly in favour of India and has of late exceeded the three billion dollar mark.

It is almost a year now that the Bangladeshi government has been trying to influence the Indian government to earn duty waiver for 61 items, including 54 garment items.

Khan said that, the Commerce Minister of India has given an assurance that the Indian government would grant duty exemption to these products.

Further, while speaking at a meeting held at his Secretariat office in Dhaka, Khan said that this issue concerns international trade and Bangladesh is awaiting Indian government's approval. But then, no miraculous happening should be expected as both the countries would prioritise their own interests. However, he is positive about this development to take place which would alleviate the trade gap between the countries, he added.

Owing to the revival of the western countries from economic crisis, the demand for Bangladeshi goods is rising, and this would keep the country's export growth at higher levels in the coming six months, Khan said.

The last six months of 2010 saw the Bangladesh's exports exceeding the target set for the period as it grew by 41 percent during the period as over the corresponding period in 2009.

Further the current financial year's export target was fixed at $18.5 billion, the actual exports for the initial six months came to $10.26 billion and thus surpassed the set target of $8.77 billion.

Khan even stated that, the country is moving ahead on the right path, as it has even captured some new markets like Japan, China and South Korea, and thus has good prospects ahead.

He said that, there would be a rise in Bangladesh's export to the EU, as the EU has already made its Rules of Origin (RoO) under the Generalised System of Preferences (GSP) effective since January 1, 2011 onwards.

Fibre2fashion News Desk - India


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