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Bangladesh : Thailand Offers Tariff Concessions To 128 Items |
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2003-7-28 9:06:00
According to the commerce ministry officials the “Look East” diplomacy of Bangladesh has started to pay off as Thailand has offered tariff concessions to 128 Bangladeshi items under six categories.Bangladesh had presented a list seeking duty-free access to those items during Prime Minister Begum Khaleda Zia's visit to Bangkok December 12-14 last year. Officials said the Thai cabinet approved the list on June 24, agreeing to provide zero-tariff access to more than 40 items and entry of the rest of products at a barely five per cent tariff.
Some nine items under the category of jute and jute products would enjoy duty-free access to Thai market, eight items under leather and leather products, nine under ceramic category and ten from the pharmaceuticals. Rest of the items, including those from agro-based products, would be subjected to five per cent duty. Bilateral trade is heavily tilted in favour of Thailand and officials said the gap is widening every year. In 1996-97, Bangladesh imported goods worth US$ 78.76 million from Thailand against exports of $12.05 million. Imports grew to US$ 151.7 million in 1999-2000 fiscal when exports figured US$ 45.24 million. But Bangladesh's exports dropped to US$ 27.88 million last fiscal while imports from Thailand rose to US$ 201.2 million. Raw jute and jute goods, leather and leather products, jute yarn and twines, terry towels, jute carpets, handicrafts and readymade garments make up Bangladesh's export basket to Thailand. Bangladesh's imports from Thailand include vegetable products, foods, minerals, cotton, textiles, vegetable fat and paper products.
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