China has decided to grant duty-free access to Bangladeshi products as part of its broader initiative to support Least Developed Countries (LDCs).
This was confirmed by the Chinese Ambassador to Bangladesh, Yao Wen, during a meeting with Bangladesh’s new Foreign Secretary, Md Jashim Uddin.
China had previously granted duty-free access to 98% of Bangladeshi goods in 2022, an increase from 97% in 2020. While China is Bangladesh’s largest trading partner, the trade balance heavily favors China, with Bangladesh exporting only $676 million worth of goods compared to China’s $18.6 billion in exports to Bangladesh during the 2022-23 fiscal year.
The foreign secretary expressed optimism about increasing exports to China, including mangoes, jackfruits, and guavas.
Following the formation of Bangladesh’s interim government, China has remained a key foreign investor and emphasized its commitment to strengthening bilateral relations and advancing strategic cooperation.