Finance
Bangladesh-UK UK will provide duty-free facilities to Bangladesh even after its transition from LDC
Own Correspondent, Dhaka, August 23: The British High Commissioner in Dhaka, Robert Chatterton Dickson, said that the United Kingdom will continue Bangladesh's duty-free market access even after it moved from the list of Least Developed Countries (LDCs) to developing countries.
On Monday (August 22), the President of BGMEA, Shahidullah Azim, asked about access to UK duty-free market for Bangladesh after graduation from LDC, said the High Commissioner. The British ambassador spoke on various topics at the event titled 'Meet the Ambassador' organized by the Center for Governance Studies (CGS) in collaboration with Friedrich-Ebert-Stiftung Bangladesh.
He answered various questions of the participants including political leaders, businessmen, economists, academicians, and journalists at the event. The British government announced a new scheme called the 'Developing Countries Trading Scheme' to replace the existing GSP system. According to the new scheme, 98 percent of Bangladesh's goods will be eligible for tariff concessions after graduation from LDCs.
At that time, acting president of BGMEA Shahidullah Azim said that the UK is the third largest export destination of Bangladesh. In the last financial year 2021-22, the United Kingdom exported US$ 4.49 billion in apparel. Bilateral economic relations between the two countries have been growing significantly over the last few decades.
He said as the industry prepares to move into the post-industrial growth phase, we have identified industry priorities to enhance our business capabilities, particularly product diversification, innovation, technology upgradation, and investment in the high-end textile sector.
He thanked the British government for the new scheme, saying it would help Bangladesh increase its trade significantly.
He expressed optimism that the British government's friendly cooperation in the development of Bangladesh will continue in the coming years.
Chairman of Center for Governance Studies Dr. Manjur A Chowdhury, Executive Director Zillur Rahman, and Programme Coordinator of Friedrich-Ebert-Stiftung Bangladesh Sadhan Kumar Das were present there among others.
