Bangladesh mulls garment export pact with India
\nHindu, India<\/p>\n
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Dhaka, May 14 (PTI): Bangladesh may sign a pact with India to export ready made garments to its giant neighbour and take advantage of New Delhi’s zero-duty offer for poorer SAARC nations, a news report has said.<\/p>\n
The caretaker government is seriously considering India’s proposal to sign a memorandum of understanding (MoU) for duty-free import of eight million pieces of ready made garments annually from Dhaka apart from New Delhi’s zero-duty offer for poorer SAARC nations, including Bangladesh<\/p>\n
Bangladesh, however, is insisting on certain amendments to the proposed MoU to bring about more clarity and specifications in the implementation process of the duty-free facility under tariff-rate quota of the South Asian Free Trade Area, the New Age daily said.<\/p>\n
“We have offered a duty-free facility without any condition of sourcing the fabrics port restrictions,” said a source in the Indian High Commission.<\/p>\n
Bangladeshi officials have indicated that the Indian offer entails “too much discretional authority” for the customs authorities in defining the product category of apparel items.<\/p>\n
Moreover, there is no clear timeframe except the word “immediately” mentioned in the draft for certification of each consignment by a textile committee in India, officials said.<\/p>\n
Dhaka also wants the pact to be revised every two years so that the necessary changes can be accommodated, the report said.<\/p>\n
An inter-ministry meeting with the stakeholders scheduled to be held on May 17 is expected to finalise Bangladeshs position on the draft memorandum, provided the Indian authorities agree to changes demanded by Dhaka, an official said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bangladesh mulls garment export pact with India Hindu, India Dhaka, May 14 (PTI): Bangladesh may sign a pact with India to export ready made garments to its giant neighbour and take advantage of New Delhi’s zero-duty offer for poorer SAARC nations, a news report has said. The caretaker government is seriously considering India’s proposal to […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n