Staff Reporter :
The Chinese government has announced that starting from December 1, 2024, Bangladesh will enjoy zero-tariff treatment for 100 percent of its tariff lines on exports to China. Currently, Bangladesh benefits from duty-free access for 97 percent of its tariff lines.
A spokesperson for the Chinese Embassy stated that this move is part of China’s broader strategy to support Least Developed Countries (LDCs).
The announcement follows President Xi Jinping’s pledge at the Beijing Summit of the Forum on China-Africa Cooperation to open China’s market further to LDCs, including 33 African countries.
China’s State Council Tariff Commission issued a statement on September 12, 2024, confirming that all LDCs maintaining diplomatic relations with China will receive zero-tariff treatment on all tariff lines starting from December 1, 2024.
For products subject to tariff quota management, the zero-tariff treatment will only apply to the portion within the quota.
Any products exceeding the quota will still be subject to the original tariff rate.
Bangladesh, as an LDC, stands to benefit significantly from this preferential treatment.
In August 2022, China had already extended duty-free treatment for 98 percent of Bangladeshi exports, which included goods like agricultural products, leather, and fishery items, including hilsa.
The new zero-tariff policy expands on this by covering the remaining tariff lines.
This move is expected to boost Bangladesh’s exports to China, especially in sectors such as agriculture, livestock, fishery, and leather, enhancing Bangladesh’s potential for sustainable development.