India Bangladesh Negotiate FTA
In this India Bangladesh Negotiate FTA, India promised to reduce the average tariff on China’s exports from 14.8% to 9.7%, the average tariff on American exports from 10.1% to 7.5%, and the tariff rate on Chinese exports under the China India Free Trade Agreement (India Bangladesh Negotiate FTA) would be reduced to zero. Indian Industry Minister Hashma Chowdhury said: “Now we are ready to join the second round of negotiations so as to implement zero tariff on Chinese products.”
According to a statement by the Confederation of Indian Industry (CCI), the two sides agreed to discuss relevant issues in the second round of negotiations. The organization has received documents from the competent officials of the three major economies from China, the United States and the European Union to ensure that an agreement is reached, but it did not specify which countries will join the negotiations. The Confederation of Indian Industry believes that this commitment is positive.
It added that there was a big difference between the terms of trade agreed in the second round of negotiations and the implementation of the zero tariff policy on Chinese products under the FTA. The organization said: “This means that they can incorporate these products into the FTA” rather than directly implement them under the FTA.