Bangladesh’s foremost export products including the major economy driver the ready-made garments (RMG) as well as jute and jute products, fish, leather goods, home textiles, leather, shoes will get duty-free access to China. The Commerce Ministry released a list of products on 11 October, in which Bangladesh will get duty-free access to China.
As a Least Developed Country (LDC), China has given Bangladesh duty-free access to 98 percent of its imported goods. China imports various products under 6,549 HS codes. Of these, Bangladesh will get duty free facility on 6,256 products.
Zafar Uddin, the Secretary of Commerce told, “A detailed list has been given for the convenience of traders. Hopefully, this will increase Bangladesh’s exports to China than before. Exporters need to take advantage of this opportunity. ”
After paying 80% in 2010 and 95% in 2015, China decided in the middle of this year that LDCs would be able to export 97% of its products to China duty-free. Initially, 33 LDC countries had the opportunity, but China later increased it to 40 countries.
Though, Bangladesh has not come in the list of 95% so far as it does not fulfil with the conditions of China. Because Bangladesh’s main export products are not in China’s 80 percent duty-free list. As a result, Bangladesh has to export to the country with an average duty of 10 percent.
It is known that for so long in China, not all items of Bangladeshi-made garments have received duty-free benefits. 118 out of 16 items of oven clothing and 6 out of 132 items of knitwear were covered under the duty-free facility.
However, at present, entrepreneurs will get the benefit of almost all items of clothing. Besides, 1 new HS code has been added to the list of duty-free facilities for jute and jute products, 10 for fish, 10 for leather and leather products, 19 for shoes and 55 for home textiles.
Other products that Bangladeshi entrepreneurs will get duty-free access to in the Chinese market are various types of medicines, perfumes, cosmetics and other toiletries, soaps, plastic and plastic products, rubber and rubber products, fertilizers, fur, synthetics, artificial fur and fur products, mineral fuels and oils, bitumen, chemical products, organic chemicals, live cows, goats, buffaloes, horses, poultry, poultry, fish, snakes, cottonseed, dairy products, various vegetables, coffee, tea, spices, cereals, waste from various mills, beverages, spirits, vinegar, tobacco, sugar and sugar products, salt, sulfur, stone, cement, etc.