Cabinet approves deeper tariff cuts to APTA countries
The Union Cabinet has allowed the government to offer deeper concessions on tariffs while trading with APTA countries comprising Bangladesh, China, India, Lao PDR, Republic of Korea, and Sri Lanka. From 570 tariff lines, the number of products on which duty concessions will be given have increased to 3,142. The Margin of Preference (MoP) has been increased from 23.9% of 33.45%, implying that duties on each of the products will be reduced by a third for the importing countries.
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