China grant zero tariff treatment for 5,161 Bangladeshi products...

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China grant zero tariff treatment for 5,161 Bangladeshi products

 Staff Correspondent daily-bangladesh.com

 Published: 10:31 AM, 19 June 2020   Updated: 10:45 AM, 19 June 2020

File Photo

File Photo

China has granted zero tariff treatment for 5,161 more Bangladeshi products in the Chinese market effective from July 1, UNB reports. 

According to sources, with the announcement made by the State Council of Ministry of Finance of China, a total of 8,256 Bangladeshi products will come under the 97 percent of products that would be exempted from tariff.

“According to China’s commitment to zero tariff treatment for 97% of the tax products of the least developed countries that have established diplomatic relations with China,” said a notification issued on June 16 from the Ministry of Finance of China.

According to the exchange of letters between China and Bangladesh, since July 1, 2020, for 97% of the tax products originating in Bangladesh, the preferential tax rate of zero shall be applied, it reads.

DailyBangladesh/OB