Finance
Bangladesh-Australia Australia will continue to provide duty-free benefits to Bangladeshi products even after its transition from LDC
Dhaka, July 22: Australia's assistant minister for trade, Senator Tim Ayers, said that Australia will continue to provide duty and quota-free benefits to Bangladeshi products, despite the transition from a less developed country to a developing country.
Assistant Minister of Australia said this in a meeting with Bangladesh High Commissioner M Allama Siddiqui. BGMEA President Farooq Hasan was also present at the meeting at the Commonwealth Parliamentary Office in Sydney on Friday.
High Commissioner Allama Siddiqui highlighted the unprecedented development of Bangladesh in the past decade in socio-economic fields including agriculture, garment industry, remittances, micro-economy and political stability and appreciated Australia's growing interest in Bangladesh.
Allama Siddiqui also pointed out that there are opportunities for bilateral trade and investment in cotton, wool, LNG, economic technology, information technology related services and education and skill development. The High Commissioner called upon the Assistant Minister for Trade Affairs of Australia to visit Bangladesh with business representatives.
The BGMEA President highlighted various measures taken in the sector for the welfare of the workers including efficient and sustainable supply system and productivity of the Bangladesh ready-made garment industry.
He also informed the assistant minister of Australia about the reform programs adopted at different times in Bangladesh's garment industry and the aim of achieving ESG of BGMEA by 2030 by establishing more green factories, ensuring equality between men and women, and creating suitable working environment.
In an official information report received in Dhaka on Friday, it is said that Tim Ayers mentioned Bangladesh as an important partner of Australia and emphasized on increasing the economic involvement of the two countries. He said the development of the ready-made garment industry and the strong commercial relationship between Australian buyers and Bangladeshi producers are helping to diversify the industry.
The Assistant Minister said sustainable trade unions and trade unions were critical to Australia's trade and government engagement with overseas partners. He expressed interest in increasing trade with Bangladesh in the wool and cotton industries of Australia.
Tim Ayers also emphasized on taking the Trade and Investment Framework Agreement (TIFA) signed between Bangladesh and Australia to the next level in 2021.
