BD to get zero-tariff facility from China for 100pc tariff lines from Dec 1

Bangladesh will enjoy zero-tariff treatment for 100 per cent tariff lines on exports to China as a least developed country (LDC) from December 01 this year.

The Office of the Customs Tariff Commission of the State Council of China recently issued an announcement in this regard, a spokesperson of the Chinese Embassy said on Monday.

Currently, Bangladesh is getting duty-free facilities for 97 per cent of its tariff lines.

“On 5 September, 2024, in his keynote address at the opening ceremony of the Beijing Summit of the Forum on China-Africa Cooperation, President Xi Jinping of China announced that China will voluntarily and unilaterally open its market wider, and has decided to give all LDCs having diplomatic relations with China, including 33 countries in Africa, zero-tariff treatment for 100 percent tariff lines,” the spokesperson said, narrating the background of the decision.

This move makes China the first major developing country and first major economy to take such a step.

In order to expand unilateral opening up to LDCs and achieve common development, a zero preferential tariff rate will be applied to 100 per cent of tariff lines originating from LDCs that have diplomatic relations with China from 1 December, 2024, the announcement said.

For products subject to tariff quota management, the zero-tariff treatment only applies to the portion of products within the quota.

The portion of products exceeding the quota quantity shall still be subject to the original tax rate.

mirmostafiz@yahoo.com