Bangladesh Appreciates China'S Zero Tariff Treatment Of Export Commodities

Exclusive interview: Bangladesh appreciates China's zero tariff treatment for export commodities

Interview with Farooq Khan, Minister of Commerce of Bangladesh

"We are very pleased that the Chinese government has given zero tariff treatment to the 4721 export commodities of Bangladesh, which shows that China's deep friendship with Bangladesh is very grateful to us," said Farooq Khan, Minister of Commerce of Bangladesh, in an interview with reporters on 1.

With the approval of the State Council of China, the Customs Tariff Commission of the State Council has decided to grant zero tariff treatment to 4762 of the 33 least developed countries' 4762 items of tax items exported to China since July 1, 2010.

To Bangladesh, a total of 4721 kinds of export commodities to China enjoy zero tariff treatment.

Farooq Khan said that among the 4721 commodities, there are many Bangladesh's superior export commodities, such as clothing, seafood and jute.

After implementing this measure, Bangladesh's exports to China are expected to increase by 20% to 25%.

According to the data provided by the business office of the Embassy of China in Bangladesh, the trade volume between China and Bangladesh in 2009 was US $4 billion 582 million, of which China's exports to Bangladesh amounted to US $4 billion 441 million and imports amounted to US $141 million.

Bangladesh garment export industry is the most profitable industry in the country.

In the 2008-2009 fiscal year of July 2008 (from June 2009 to June 2009), foreign exchange earnings from garment exports amounted to US $12 billion 300 million, accounting for 79% of total foreign exchange earnings.

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Farooq Khan said,

Farooq Khan said, "I have visited China, and the infrastructure construction in China is very perfect, especially the highway construction technology is very advanced. I hope China can help us improve the traffic condition."

Speaking of bilateral trade relations, Farooq Khan said that the economic relations between the two countries have developed well, and bilateral trade volume has increased substantially in the past few years.

China is currently the largest exporter of Bangladesh.

Although there is a serious deficit in Bangladesh's trade with China, it will not have a negative impact on trade relations between the two countries. "We like China's cheap goods, so we import Chinese goods."

Speaking of the friendship between Bangladesh and China, he said that the friendship between the two countries can be traced back to thousands of years ago.

China's many selfless aid to Bangladesh shows that China is a reliable friend of Bangladesh.

Farooq Khan said that the government and people of Bangladesh understand each other and support each other and have good cooperation in politics, economy, society and culture.

He said that Bangladesh Prime Minister Sheikh Hasina's visit to China in March and the vice president of China Xi Jinping's visit to Bangladesh in June were notable achievements, which is of historic significance to both countries.

The relationship between brothers and friends in China and Bangladesh will continue to develop.