Goods from Bangladesh attract 75% duty free access
22 Jun '06
1 min read
SAFTA had decided that the duty structure has to be brought down within three years to five percent, but as a special gesture, India has decided to bring it down to zero level by 2008, stated Union Minister of State for Commerce Jairam Ramesh.
India has brought down import duty level to zero percent on 4,200 items (75 per cent imports) from Bangladesh from existing rates ranging between 12-20 percent.
India would invest $103 million to develop Setee Port in Myanmar Coast, which would be an alternate route to the northeastern region.
Indian Foreign Secretary Shyam Saran was in Yangon to discuss the modalities of the project said that it would be implemented by RITES and will be completed in three years.
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