Chinese Ambassador to Bangladesh Li Jiming has said both Bangladeshi exporters and Chinese consumers will be benefited amid zero tariff entry of Bangladeshi products to the Chinese market.
"It will certainly render Bangladeshi products more competitive in a market of 1.4 billion population, benefit both Bangladeshi exporters and Chinese consumers alike, and enhance our trade connectivity," he said on Wednesday.
China just offered zero tariff treatment to 97% of Bangladesh's export by adding 5161 more items to the existing list of 3095 duty-free products, effective from July 1.
The Chinese Ambassador said It is a result of good policy coordination, and an initiative well supported by our infrastructure connectivity.
Bangladesh described it as a success of its economic diplomacy.
"We are glad to inform that as part of our economic diplomacy and the consequent outcome of exchange of letters between Bangladesh and China, Tariff Commission of the State Council of Ministry of Finance of the People's Republic of China issued a notice on granting zero treatment to 97 percent of tariff products of Bangladesh," said an official at the Ministry of Foreign Affairs.
Ambassador Jiming said the financial connectivity between Bangladesh and China is steadily improving with their partnerships in organizations such as the Asia Infrastructure Investment Bank and the Dhaka Stock Exchange.
For people-to-people connectivity, Ambassador Jiming in his recent article said China and Bangladesh have always shared a brotherly connection inherited from friendly traditions, which gets even deeper through joint fight against the common enemy of the coronavirus.
"Our mutual cross-border visits never came to a total stop even at the toughest moment of the fight," he said.
As the situation improves and travel restriction eases, the Ambassador said, they are bound to witness a rebound and further growth in people-to-people exchanges at all social levels.
As the second largest economy in South Asia and with a vibrant young population, he said, Bangladesh has unparalleled development potential in the region.
"And as a good friend, a strategic cooperation partner and an equal member of the region, China will always remain highly committed to working side by side with Bangladesh in BRI projects and all other areas for the betterment of our people," said the Chinese Ambassador.
Being a peace-loving nation since ancient times, he said China has always envisioned a world where everyone "seeks harmony without uniformity", for "peace is of paramount importance".
Together through the Belt and Road, Ambassador Jiming said, they will build a community with a shared future where all could thrive in peace.