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 countries. 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 that imposes lower rates of duty on goods imported from some countries. This facility is enhanced and privileged by the membership of the World Trade Organization (WTO). In summary, it's a comfort zone for two or more countries how the would like to prefer a 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
More stories by
MOJO, Bangladesh’s Bold Beverage That Could Rival Coca-Cola Globally

In a world dominated by global beverage giants like Coca-Cola and Pepsi, few local brands dare to dream beyond borders. But Bangladesh’s very own MOJO, a bold and vibrant soft drink brand, is not only dreaming big — it’s showing real potential

Bangladesh Chief Adviser urges Thailand to ease visa procedures

Photo: Fb/ChiefAdviserGOBBangkok, Thailand, April 4, 2025: Chief Adviser Professor Muhammad Yunus on Friday urged the Prime Minister of Thailand, Paetongtarn Shinawatra, to ease...

Why Bangladesh Should Implement Monorail Transportation?

Bangladesh, a rapidly developing nation with a growing population and increasing urban congestion, requires modern and efficient transport solutions. While the country has made significant progress in road and rail infrastructure, severe traffic cong

Top 10 Home-Based Business Opportunities in Bangladesh

The rise of digital platforms, e-commerce, and the growing entrepreneurial spirit in Bangladesh has created excellent opportunities for individuals to start home-based businesses. Whether you're a student, homemaker, or professional looking for extra

Bangladesh, China to elevate ties to new height

BEIJING, March 28: China and Bangladesh have decided to elevate their relations to a new height after a historic bilateral meeting between President Xi Jinping and Chief Adviser Professor Muhammad Yunus.The meeting held at the Chinese capital's Great

Follow Business Habit on Facebook, Twitter