News: In a move that seems to be China’s way of wooing Bangladesh, Beijing has offered to waive almost the entire tariff for a large number of goods that are traded between China and Bangladesh.
Here are five components of the story:
- This news comes at a time when India and China have strained relations post the violent conflict at Galwan Valley in Ladakh, where there were fatalities among both Indian and Chinese soldiers.
- In this moment, India also has strained relations with its neighbour Nepal who is seeking to redraw its map by including some territories that are presently under Indian governance.
- Dhaka had asked for a waiver on trade tariffs from China earlier on the grounds that it was an underdeveloped country. China responded on June 16, offering to waive 97% tariff on 5, 161 items that Bangladesh trades with China.
- This trade waiver will be added to the pre-existing benefit that Dhaka has of tariff-free trade on 3, 095 products with beijin under the Asia-Pacific Trade Agreement.
- In this moment, none of India’s neighbours appear to have friendly relations with us. Foreign policy experts are questioning this vast failure of diplomacy on the national level and the synchronised timing of all these purportedly unrelated events.