The entire Globe knows the spurious tricks of China. It first tries to invade the country by expanding its products to every corner and then pressurizes to take the steps favourable to it, as it has done with Pakistan. Now China trying plans to take Bangladesh on its side by giving it trade tariffs, which is just another woo to Bangladesh.
China has announced tariff exemption for 97% of exports from Bangladesh and the diplomats of Bangladesh says that it is “Major Success” in Dhaka-Beijing relationship. As announced by Friday that 97% of items covering fisheries and leather products would be exempted from Chinese tariffs. Continues increase of the COVID-19 in the world China and Bangladesh had a meeting on enhancing bilateral relations.
Senior Information of the Ministry of Foreign Affairs said, “As part of our economic diplomacy, Bangladesh had written to China to exempt our export items from tariffs. In response to this China’s state council tariff commission has issued a notification recently. Bangladesh is among the Least Developed Countries and that is why this decision was taken by China”.
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The world’s economy is suffering from the crisis and Bangladesh, whose economy was already not in a very good condition, is shattered by the pandemic. The meeting with China can open new doors to improve its economic condition. The meeting can be considered as a cushion for Bangladesh to bear the economic shock of the Corona Virus. Bangladesh imports around 15 billion dollars in Chinese goods but its Chins-bound exports had been very low in comparison. The trade war between U.S.-China is likely to be filled by a boost in the export of tariff-exempted goods from Bangladesh.
As a part of the government’s economic diplomacy and the outcome of the exchange of letters between Bangladesh and China, the Tariff Commission of Chinese State Council issued a notice recently on granting zero treatment to 97% of tariff products of Bangladesh, the Dhaka Tribune, stated the Ministry of Bangladesh.
Bangladesh official also said, “Bangladesh already receives tariff-exemption for 3095 items under the Asia Pacific Trade Agreement. As a result of the latest announcement, a total of 8256 goods from Bangladesh will be exempted from Chinese tariffs”.