On 6th to 7th August of 2022, during the Chinese State Councilor and Foreign Minister Wang Yi's visit to Bangladesh, Mr Wang announced that the duty-free treatment of 98% tariff lines goods originating from Bangladesh exported to China will take into effect on September 1st, 2022, which will further help to boost Bangladesh's export to China.
Varied by different categories of tariff lines, compared with duty-free treatment of 97% tariff lines, there are more than several hundreds of tariff lines added to the 98% duty-free treatment tariff lines, such as some agricultural products, crude oil of ground nut, crude cotton-seed oil, liquid crystal display panel, paper product, saloon cars, chemicals and so on.
Several kinds of basic leather products added into the 98% zero-tariff lines are good news to Bangladeshi exporters in the leather industry, which is a industrywith huge potential in Bangladesh. Businessmen in the leather industry have already been focusing on the opportunity provided by the 98% duty-free treatment. Programs such as “Bangladesh leather and leather products promotion webinar”are undergoing and helping Chinese manufacturing enterprises related to leather products forming business relations with Bangladesh's leather exporters.
Bangladesh has many high-quality agricultural, livestock and fishery products.For example, the national fish of Bangladesh, the hilsa, is among both the 97% and the 98% zero tariff lines, andhas already acquired the inspection and quarantine accessto the Chinese market. Bangladesh's mango, jackfruit, guave, honey, and beef, are all listed as duty free products in both the 97% and the 98% tariff lines.
The duty-free treatment of 98% tariff lines goods will help Bangladesh to further increase its export to China, to continuously diversify the products of export and also to better reap the potential of sustainable development.