BD seeks preferential trade benefits in British market until 2032

Bangladesh has sought preferential and duty-free, quota-free market access for Bangladeshi exports, including apparels, to the British market until 2032 in favour of sustainable graduation from the Least Development Country (LDC) club, reports UNB.

Foreign Minister Hasan Mahmud discussed the issue when UK Minister of State for Indo-Pacific Anne-Marie Trevelyan met him at his office at the Ministry of Foreign Affairs on Wednesday afternoon.

"Useful discussions with Bangladesh Foreign Minister Hasan Mahmud on a wide range of mutually important policy areas - from energy transition to human rights and democracy, migration and Rohingya challenges, to LDC transition in 2026 and the future trade growth," the British Minister said.

He apprised the British State Minister that Bangladesh set a target of producing at least 40 per cent of its energy from renewable sources by 2041 and has started working through different projects including solar, wind, tides, waste-to-energy, etc. to achieve the target.

The British Minister of State expressed delight over the improved traffic condition in Dhaka and completion of mega infrastructure projects, such as metro rail, 3rd terminal of the Dhaka airport, Expressway, etc.

She highly praised the Bangladesh community living in the UK and their entrepreneurship efforts in different sectors including culinary business.

The British Minister hailed Bangladesh's upcoming graduation from LDC status in 2026 and pledged her government's support during and after this economic transition, according to the Ministry of Foreign Affairs.

She commended Bangladesh for generously hosting the Rohingya and affirmed continuous British political and financial support in this regard, including the recent one of 12 million pounds.

The Foreign Minister expressed satisfaction over expanding trade between the two countries that reached a landmark height of 6 billion USD last year, and thanked the UK government for its support towards Bangladesh's development efforts and being the highest FDI source for Bangladesh in 2023.