Bangladesh will get duty facilities for 10,677 products from countries in the Asia Pacific Trade Agreement (APTA), with the government expecting that these facilities will increase trade and commerce in near future.
Cabinet secretary (coordination and reform) NM Ziaul Alam disclosed the matter in a press briefing at the cabinet division auditorium on Monday.
The briefing followed a meeting at the Cabinet Division, presided over by Prime minister Sheikh Hasina, where the rectification of the second amendment of APTA was approved.
The cabinet secretary said: “APTA now provides duty free facilities for 4,648 products, while Bangladesh will enjoy duty facilities for 10,677 products under the second amendment of APTA. This is predicted to help attain the Sustainable Development Goals by creating new employment opportunities and by further improving Bangladesh’s export trade.”
Under the agreement, duty facilities between 5% to 100% will provided for 3,334 products from India, 2,372 products from China, and 2, 357 products from South Korea. Six member countries of APTA-Bangladesh, India, China, South Korea, Sri Lanka, and Laos- came to this conclusion after the fourth round of negotiations regarding the Bangkok agreement of 2005.