New Zealand assures BD of extending DFQF facility after LDC graduation

FE Report
New Zealand has assured Bangladesh of extending duty-free and quota-free (DFQF) facility and preferential market access even after its graduation from LDC.
The country has also expressed its strong interests in further expanding bilateral trade and investment between the two nations.
Non-resident high Commissioner of New Zealand to Bangladesh David Pine made the assurance and willingness while meeting with the Commerce Minister Khandakar Abdul Muktadir at the latter's secretariat office on Sunday.
During the meeting, both the sides discussed the effective utilisation of existing regional frameworks and signing of the proposed comprehensive bilateral Free Trade Agreement (FTA), aiming to further strengthen the mutual cooperation.
Mr. Muktadir emphasised that rapidly increasing investment and creating employment opportunities are essential to ensure Bangladesh's successful graduation from the Least Developed Countries (LDC) status.
He further noted that Bangladesh has taken significant initiatives to ease the process of doing business, adding that New Zealand investors could benefit greatly by investing in Bangladesh's high-potential sectors.
The Minister stressed that regardless of the LDC graduation timeline, Bangladesh requires substantial annual investments to help sustain its economic growth.
High Commissioner David said in the current global context, diversification is equally vital for both import and export sources.
Such a strategy would allow both the nations to reap greater mutual benefits, he observed.
He further said New Zealand has attached special importance to ensuring that Bangladesh's existing duty-free and preferential market access remains undisrupted even after its graduation from the LDC category.
Additional Secretary of commerce ministry, Ayesha Akther, was also present during the meeting.
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