The government has finalised the list of goods Bangladesh can export to China under the duty-free privilege the second largest world economy has offered to bridge the trade gap between the two countries.
The Ministry of Commerce published the list on Monday which includes readymade garment, jute, leather and hide and fish.
Earlier on June 18, China earlier announced duty-free access for 8,256 products originating from Bangladesh which covers 97 percent of the country exportable items.
The privilege has been effective since July 1 this year, but the ministry could not publish the list on its website earlier as the Beijing sent it in Chinese language.
The government, economist and businessmen are optimistic that the duty-free market access to China will open a new door for Bangladesh’s global business and further strengthen its economy.
“This (duty-free access) is undoubtedly a huge opportunity for us,” Senior Vice-President of Bangladesh-China Chamber of Commerce and Industry ATM Azizul Akil told Bangladesh Post.
Referring to China being a global export leader having a wide range of products, he said, “We should identify the products which have huge demand in the Chinese market.”
The business leader suggested initiatives to address the existing complications in exporting goods to China. “We must focus on all our potential products like leather, jute and jute goods, food, agriculture and fish.”
Additional Secretary to the Ministry of Commerce Md Shohidul Islam told Bangladesh Post, “We have finally prepared the list, and soon we will be able to export products to China after completing all necessary procedures.”
According to the Export Promotion Bureau (EPB), the Ministry of Commerce issued a letter to FBCCI, BGMEA and BKMEA on June 24 to prepare a list of exportables following the announcement of the Chinese government.