Bangladesh seeks expanded trade

privileges from China

Refayet Ullah Mirdha

Bangladesh has sought duty-free access for 17 additional products to China, to reduce trade imbalance between the two countries, which is
heavily tilted in favour of China.
The trade imbalance between China and Bangladesh is worth $5.87 billion in fiscal 2012-13, according to data from the commerce ministry.

The proposed products include polymers, gloves, silk and silk waste, wiping cloth, leather footwear outer soles, lead-acid batteries and
synthetic fibre.
Currently, Bangladesh enjoys duty benefits for 4,788 products to China under the Asia-Pacific Trade Agreement (APTA) arrangement, as
both countries are members of the trade bloc.
Officially, China is the largest import destination for Bangladesh, as the country imports machinery, garment fabrics, cotton, chemicals and
electrical equipment.
Bangladesh imported $6.32 billion of goods from China in fiscal 2012-13 and exported goods worth $458.12 million in the same time,
according to commerce ministry data. Bangladesh exported live and frozen fish, oil seeds, leather and leather goods, cotton waste, jute and
jute goods to China.
We want to export more to China as the potential is there for us, said Tofail Ahmed, commerce minister, after a meeting with China's
Yunnan Province Governor Li Jiheng at his secretariat office in Dhaka.
China has shown interest in financing the garment village, which will be set up in Bausia in Munshiganj.

Published: 12:00 am Monday, March 31, 2014