China has provided a huge trade boost to Bangladesh by announcing tariff exemption for 97 per cent of Bangladeshi products effective from July 1.
The decision has come one month after Bangladesh Prime Minister Sheikh Hasina and Chinese President Xi Jinping held a discussion to upgrade their bilateral relations during Covid-19.
The Ministry of Foreign Affairs of Bangladesh announced on Friday that 97 per cent of items would be exempted of Chinese tariffs.
As part of the government’s economic diplomacy and the outcome of exchange of letters between Bangladesh and China, Tariff Commission of the Chinese State Council issued a notice recently on granting zero treatment to 97 per cent of tariff products of Bangladesh, a daily reported, quoting the ministry’s statement.
The development comes at a time, when Nepal and India are witnessing conflict in their relations, China and India recently had a face off, which left 20 Indian Soldiers dead, the relation with Pakistan has grown worse since 2016, dozens of soldiers have been killed in the Cross-Border violations.
Narendra Modi, the Indian Prime Minister was also scheduled to visit to Bangladesh had to be called off by Bangladesh amid the massive protests by Bangaldeshis against the visit of the Indian Prime Minister.