What is Preferential Tariff System

A tariff schedule under which one or more nations are given lower rates or other advantages over others. That is one country will give a traffic reduction facilities to other country.
A preferential tariff system can be applied to certain goods from certain specified countries and groups of countries.
The parties to a system of preferential tariffs levy lower rates of duty on imports from one another than they do on imports from third countries.
A tariff which imposes lower rates of duty on goods imported from some countries.
This facility is enhanced and privileged by the membership of World Trade Organization (WTO).
In summary it's a comfort zone for two or more countries how the would like to prefer tariff for export-import.

Qualifying for Preferential Tariff System
To qualify for preferential tariff treatment, imported goods must satisfy all the specific requirements that are applicable to the preferential country or country group in which the goods were produced or manufactured. As a general rule, the goods must:
(a) satisfy the rules of origin applicable to the particular preferential country or country group; and
(b) comply with all other relevant requirements applicable to the particular preferential country or
country group (eg, direct shipment). The rules of origin set out the criteria for determining whether imported goods are to be treated as being the produce or manufacture of a particular preferential country or country group.
Category and Tags
Add a comment
More stories by
Reasons behind you can share your idea

Yes a legit concern! People steal ideas n ideas are priceless!Really! Not sure! In my life I did quite the oppo exsite. I always told as many people as I can, as advance as possible. I was never worried about people ...

Remittance hits record high in January

Bangladeshi migrant workers sent a record amount of remittance home in January.

Construction Progresses on Bangladesh's First Nuclear Power Plant

Bangladesh’s nuclear power plant, being built in Rooppur, about 160 kilometers northwest of the capital, will have the capacity to generate 2400 megawatts of electricity.

Free treatment for elderly above 65yrs on the cards: Minister

Health and Family Welfare Minister Jahid Malek.

Should Zunaid Ahmed Palak need to say sorry for a ride in a bike as a passenger without a helmet?

Photo: Sir Zunaid Ahmed Palak's Facebook First of all, I would like to give thanks to Mr.

Follow Business Habit on Facebook, Twitter