Dhaka: New Zealand has expressed strong interest in maintaining duty-free and preferential market access for Bangladesh even after the country graduates from the Least Developed Country (LDC) category. The interest was conveyed by New Zealand’s non-resident High Commissioner to Bangladesh, David Pine, during a meeting with Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir at the Secretariat today, said a press release.
According to Bangladesh Sangbad Sangstha, during the meeting, the two sides discussed ways to expand bilateral trade and investment relations and make effective use of existing regional trade frameworks. They also explored the possibility of signing a comprehensive Bilateral Free Trade Agreement (FTA) to strengthen trade cooperation between the two countries.
Speaking at the meeting, Muktadir emphasized the importance of increasing investment and generating employment opportunities to ensure a successful transition from the LDC status. He noted that the Ready-Made Garments (RMG) sector, which represents a significant share of Bangladesh’s exports, requires continued preferential market access to maintain its competitiveness.
The minister highlighted the government’s focus on industrialization, employment generation, and export diversification as key strategies to strengthen the economy and sustain growth. He encouraged New Zealand investors to capitalize on Bangladesh’s business-friendly initiatives and invest in promising sectors.
David Pine underscored the importance of diversifying trade in the global context, both in terms of exports and import sources, for mutual benefit. He assured that New Zealand places special importance on ensuring the continuation of existing duty-free and preferential market access facilities for Bangladesh post-LDC graduation.
The High Commissioner expressed New Zealand’s interest in establishing a stable and long-term trade framework with Bangladesh, noting that New Zealand products are globally recognized for their high quality, safety standards, and GMO-free nature.
Additional Secretary of the Ministry of Commerce Ayesha Akter was also present at the meeting.