China has decided to provide 100 percent duty-free access to products from Bangladesh, as well as other least developed countries (LDCs).
Chinese Ambassador to Bangladesh Yao Wen conveyed the decision when he called on Foreign Secretary of Bangladesh Jashim Uddin at the foreign ministry yesterday.
“The Chinese ambassador said in the Sino-Africa summit in early September that China had decided to provide a 100 percent tariff line to LDCs, including Bangladesh,” Jashim told reporters.
In 2022, China had granted duty-free access to 98 percent of Bangladeshi goods, including 383 new products, especially leather and leather goods. China is Bangladesh’s largest trading partner. It exported products to Bangladesh worth more than $18.6 billion in fiscal year 2022-23, while Bangladesh’s exports to China were worth about $676 million.
Jashim added that China had been the source of most foreign direct investment after the formation of the interim government, which amounted to about $8 million.
