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China to extend duty-free benefit to 17 Bangla products
23
Aug '16
China is planning to add 17 more products from Bangladesh, including items like synthetic fibre, silk waste, short boots and some leather products, to the list of 4,700 products for which it has long been providing duty-free benefits. The duty-free benefit would be provided as part of an effort to deepen trade relations between the two countries.

The duty-free access to 17 products was agreed in principle by the Chinese side at the 14th session of the biannual Bangladesh-China Joint Economic Commission, held at the Economic Relations Division (ERD) in Dhaka.

At the meeting, Bangladesh side said that through China provides duty-free benefit to 4,700 products, the list does not include the products of their (Bangladeshi businesses) choice. “Beijing has agreed in principle to widen its trade benefits,” ERD senior secretary Mohammad Mejbahuddin said at a press briefing post-meeting.

The Chinese delegation led by vice minister for commerce Gao Yan requested Bangladesh to start the procedure for availing duty-free benefit for the 17 new products so that the benefits can be reaped at the earliest, Mejbahuddin said.

The visiting team also showed interest in investing in the apparel zone that is being set up in Munshiganj by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), he said.

Bangladesh's garment exports to China increased by 11.9 per cent year-on-year to $341.22 million in 2015-16. (RKS)

Fibre2Fashion News Desk – India

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