These products will be showcased at Bangladesh missions abroad, airports, and key locations nationwide, industries ministry minister says
Asia-Pacific countries to give duty benefits to 6,000 more products from Bangladesh
Seven countries in the Asia-Pacific region will extend duty facilities to 6,029 more goods exported by Bangladesh in line with a revised free trade agreement.
Published : 12 June 2017, 10:08 AM
Updated : 12 June 2017, 10:08 AM
The proposal for the second revision of the Asia Pacific Trade Agreement or APTA received its final approval from the cabinet led by Prime Minister Sheikh Hasina on Monday.
Under the existing APTA, India, China and five other countries grant duty benefits to 4,648 products from Bangladesh. The revision will increase the number to 10,677.
India will grant duty benefits to 3,381 Bangladeshi goods, China to 2,372 and South Korea to 2,372.
“Cuts in customs duties will range between 5 percent and 100 percent. The discount varies according to the product.”
Bangladesh initially approved the second revision of APTA on Dec 26 last year.
Mongolia became the seventh member country to join the agreement in 2016.
APTA is the oldest preferential trade agreement between Asia-Pacific countries, based on the Bangkok Agreement signed in 1975. The name was changed to APTA in 2005.
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