Bangladesh offers nil tariffs on 100 more US goods to narrow trade gap

Bangladesh commerce advisor Sheikh Bashir Uddin sent a letter to the US trade representative (USTR) yesterday informing about this decision.

The decision is part of trade liberalisation measures as the country will graduate from the least developed country status in 2026.

"Our tariff schedule contains 190 product lines with zero tariff and another 100 product lines are being considered to be included in the zero tariff schedule," the letter was quoted as saying by a domestic media outlet.

Bangladesh is planning a long-term LNG deal with the United States and would provide private equity access to healthcare to get tariff relief, the letter said.

"Our government is examining ways to reduce tariff rates and eliminate all kinds of non-tariff barriers and has initiated reforms to enhance mutually beneficial trade for both countries. The reform initiative includes import policy order, simplification of customs procedure, enforcement of intellectual property rights, protect trademarks, patent rights and so on," read the letter.

Bangladesh remains committed to open dialogue and collaboration to remove any barrier to the US exports to Bangladesh, if any, and to resolve trade disputes and promote mutual prosperity, the letter added.

ALCHEMPro News Desk (DS)