China assures duty-free market access to Bangladesh till 2028

The call was made during Bangladesh Chief Adviser Muhammad Yunus's bilateral meeting with Chinese executive vice-premier Ding Xuexiang on the sidelines of the Boao Forum for Asia Annual Conference in Hainan.

Ding said China would fund modernisation efforts of the Mongla Port and the Dasherkandi Sewage project in Bangladesh and assured Chinese funding to purchase four ocean-going vessels for state-run Bangladesh Shipping Corporation.

Yunus also secured a commitment for Bangladesh to enjoy duty-free and quota-free access to the Chinese market until 2028. He discussed relocating Chinese manufacturing plants to Bangladesh as well, domestic media outlets in Bangladesh reported.

Beijing is keen to start free trade negotiations with Dhaka, he said at the meeting with Yunus.

Despite China granting Bangladesh 99-per cent duty-free access in 2022, the latter’s exports to the former have actually declined.

ALCHEMPro News Desk (DS)