Bangladesh gets 100pc zero-tariff facility in China 

Bangladesh will enjoy a 100 percent zero-tariff facility for exporting products to China.

The Office of the Customs Tariff Commission of the State Council of China recently issued an announcement in this regard.

“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.