| Date: |
08-07-2010 |
| Subject: |
China allows duty-free exports from B’desh, Nepal |
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BEIJING: China has decided not to impose any duty on exports from Bangladesh and Nepal. This zero-duty treatment to exporters in these countries is likely to affect Indian exporters adversely. Another Asian nation to benefit from its zero tax tariff system is Afghanistan where India and China are seriously engaged in reconstruction and development.
The move is bound to force India, a major seller to these countries to sit up and take notice. For Nepal, the zero tariff move that came into effect on July 1 means an opportunity to reduce its heavy reliance on Indian buying, sources said.
In case of Bangladesh, the move comes on top of Chinese support in building a 150 megawatt power project in Chandpur, which will be built by Chengda Engineering Corporation of China, and construction of the seventh friendship bridge at Kajirtek.
Business relationship between China and Bangladesh have picked up momentum since the visit of PM Sheikh Hasina to Beijing last March, when the two countries decided to establish a “Closer Comprehensive Partnership of Cooperation” and Beijing made an offer of concessional loans. The visit also saw the China National Petroleum Corporation signing a MoU on cooperation with Bangladesh Oil, Gas & Mineral Corporation and Bangladesh Petroleum Corporation.
Source : The Times of India
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