Ministers in charge of trade and commerce from five participating countries at their first session finalised the schedule of tariff concession as they concluded the third round of Apta trade negotiations in Beijing on November 2.

"The tariff cuts will be effective as soon as South Korea ratifies the agreements," a senior commerce Ministry official told the news agency yesterday. He said ROK officials at the meeting assured of ratifying the pact soon.

"Bangladesh would get more benefit from the fourth round of negotiation of Apta," Commerce Minister Altaf Hossain Choudhury told a press conference on the outcome of the negotiations at his ministry yesterday.

He said the fourth round will begin in New Delhi in 2007.

The minister, along with Dr Mostafa Abid Khan of Bangladesh Tariff Commission, attended the meeting on November 2. Bangladesh Ambassador to Beijing Ashfaqur Rahman accompanied them.

United Nations Economic and Social Commission for Asia and the Pacific (Escap) sponsored the tariff-trimming talks for making the Asian products cheaper for the consumers.

The minister expected at the press conference that the Apta negotiations would help boost Bangladesh's exports to the markets in the Asia-Pacific region.

"The scope would further increase as many countries in the region, including Macao, Hong Kong, the Philippines, Brunei, Malaysia and Iran, showed their interest in joining the grouping," he told newsmen.

Altaf told the press that he had bilateral meetings with the ministers of trade and commerce from the member-countries, which he expects to bode well for mutual trade ties.

Commerce Ministry Advisor Barkat Ullah Bulu, Commerce Secretary Faruq Ahmed Siddiqui and Export Promotion Bureau Vice Chairman Mir Shahabuddin Mohammed also spoke at the press conference.

The press conference was told that Korea would provide 20-100 percent tariff concessions on 291 products--139 items coming under the cent-percent duty waiver. China would allow 245 products in at 5-100 percent duties and another 83 items free of duties.

Products such as leather and leather goods, automobile parts and jute goods would get duty-free access to Korea while products such as fish, soap, leather, jute products, knitwear, oven garments and camera parts to China.

Sri Lanka sanctioned 10-35 percent tariff cuts on exports of 48 Bangladeshi products while India 50 percent on 25 items. Bangladesh as the lone LDC in the group also reciprocated with 10-20 percent tariff cutbacks on a total of 86 products from the contracting member-nations.

Commerce Minister Altaf also said the host China has been selected Apta chairperson while Bangladesh vice chairperson until next ministerial session.