Govt finalises list of tariff concessions for APTA countries

The government has finalised a list of 602 products for tariff concessions to be granted to the members of APTA countries from next year, officials said.
It has also decided to provide tariff concessions on four products for the least developed countries who are also the members of APTA, they added.
"We have made a national list of tariff concessions on products for APTA members," an additional secretary of the ministry of commerce (MoC) who is involved with the process told the FE.
Earlier, the fourth-round negotiations of the Asia-Pacific Trade Agreement (APTA) in January last decided to give tariff concessions to the member countries of APTA from July 2017.
But the 51st standing committee meeting of APTA in Colombo recently decided to implement the decision from January 1, 2018 as most of the members of APTA could not complete their internal procedures within the deadline (July 01, 2017), according to the MoC.
Bangladesh, India, Sri Lanka, the Republic of Korea, China, Laos and Mongolia are the members of APTA. Among the countries, Bangladesh and Laos are also the members of least developed countries (LDCs).
Bangladesh will offer 10-70 per cent tariff duty on 598 products to the APTA members under its general list category while four products with 20-50 per cent tariff duty to Laos under its special list category.
Similarly, India will offer 5-100 per cent tariff concessions/duty on 3,334 products under its general list category for the APTA members while 47 products with 14-100 per cent tariff duty under its special list category for Bangladesh and Laos.
China will provide tariff concessions on 2,191 products under its general list category with 5-100 per cent tariff duty for the APTA members while 181 products with zero to 12.5 per cent tariff duty under special list category for Bangladesh and Laos.
The Republic of Korea will offer tariff concessions on 2,796 products under its general list category with 10-50 per cent tariff duty concessions for the APTA members while 961 products with 20-100 per cent duty under its special list for Bangladesh and Laos.
Sri Lanka has decided to give tariff concessions on 585 products under its general list category with 5-62.5 per cent tariff duty for APTA members and 75 products with 10-50 per cent tariff duty for Bangladesh and Laos.
Laos will provide tariff concessions on 999 products under its general list category with 20-37.5 per cent tariff duty for APTA members.
Mongolia will provide tariff concessions on 333 products under its general list category with 10-30 per cent tariff duty for APTA members.

talhabinhabib@yahoo.com