BD, China likely to submit draft reports today

Dhaka and Beijing are expected to hand over draft joint feasibility-study reports today (Thursday) on each other on the proposed Free Trade Agreement (FTA) between them.
Such FTA is aimed at enhancing bilateral trade and also offsetting the post-graduation shocks to Bangladesh, according to sources.
To this end, senior officials of Bangladesh and China will exchange documents from their respective sides through a joint press conference at the commerce ministry.
Under the joint process, Bangladesh and Chinese sides have prepared reports on trade and goods, and trade and services respectively.
A senior commerce ministry official said, "After placing the reports, we'll scrutinise offensive and defensive issues from such reports elaborately."
"Then we'll sit an inter-ministerial meeting for taking opinions," he continued.
According to the official, a report will be submitted to government high-ups for taking necessary decision.
Conducting the joint study between Bangladesh and China is a high-level decision, he says. The FTA will be a major instrument in reducing trade imbalance between the two countries.
When contacted, Bangladesh-China Chamber of Commerce and Industry (BCCCI) secretary general Al Mamun Mridha says products of both nations will enjoy tax benefits under the FTA facility. He hopes the FTA will help diversify products as well as increased investment in Bangladesh.
At present, the volume of annual bilateral trade is worth $21 billion with China's exports accounting for nearly $19 billion.
China offered Bangladeshi goods duty-free, quota-free (DFQF) access for 98 per cent of Chinese tariff lines from 10 September 2022.
Earlier, it was 97 per cent.
As a result, 8,930 products originating from Bangladesh have been enjoying DFQF access to China, the world's second-largest economy from September 2022.
Bangladesh enjoyed the benefit for 8,256 products under 97-per cent tariff lines from July 2020 to August 2022.

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