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Bangladesh seeks duty free access to EAEU

Bangladesh is likely to get duty-free access to the Eurasian Economic Union (EAEU). This applies to Bangladesh's main export items like readymade garments, leather and ceramics. Members of the EAEU, launched in 2015, are Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.

Bangladesh has proposed including goods from Chapters 30, 61, 62, 63 and 64 of Harmonized Commodity Description and Coding System in the list of goods originating from least developed countries which are eligible for tariff preferences during its importation into the territories of the EAEU countries. Trade between the EAEU member states has risen sharply. Mutual trade in 2011 was 33.9 per cent more than in 2010.

Cambodia too wants the Eurasian Economic Union to include more Cambodian products like garments, shoes, bicycles and sugar in its tariff scheme. Currently about 900 Vietnamese exporters are active in the EAEU market, with key exports including seafood, coffee, rubber, tea, rice, apparel, woodwork products and confectionery.

In fact, Vietnam-Russia trade makes up 90 per cent of total trade revenue between the country and the EAEU, while trade between Vietnam and Belarus and Armenia in 2016 even recorded decreases from 2015. The reason for this is that Vietnam has a long-time trade partnership with Russia and an inadequate understanding about other EAEU markets.

 
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