Business

Bangladesh’s trade terms with UK to remain unchanged: envoy to UK

DHAKA, Bangladesh High Commissioner to UK Saida Muna Tasneem has said that the trade terms of Bangladesh with the UK would remain the same even if the country comes out of the EU.

UK may come out of the EU or may not. But, at the end of the day, our trade terms with the UK remains the same. The UK side has assured us that as long as Bangladesh enjoys the LDC status, Bangladesh will also enjoy the same GSP, she said while inaugurating the twoday Expo 2019 at the Congress Hall at Central London on Wednesday.

Press Minister at the High Commission of Bangladesh in London Md Ashequn Nabi Chowdhury said this to BSS.

He informed that at the inaugural function, the high commissioner also said, Bangladesh has already entered the process of LDC graduation since 2018, a process that will officially finish by 2024. However, we may be in a grace period until 2027.

Saida said there is a large ethnic community living in the UK who wear RMG and traditional clothes, adding, Definitely, the Bangladeshi and the British entrepreneurs need to pay focus on how to enter that market and the entrepreneurs would have to be one step ahead in design to enter that market.

Chair of the Expo 2019 Muhib Chowdhury said they held this expo for the 2nd time with mainly showcasing the RMG products. Insha Allah, we'll hold a bigger and better expo in the next and 3rd time,

CEO of Expo 2019 M Lutfar Rahman said the main objectives of the expo was to attract the mainstream manufacturers and buyers as the international fashion houses like Zara and Primark have shown interest in Bangladeshi RMG products. Some 15 Bangladeshi enterprises took part in the twoday expo alongside some other houses of the British entrepreneurs.

The participants at the expo said that they got good response with a good number of orders.

Besides, Jamdani sarees and dresses made of silk, maslin and taat products could grab a big market in the UK, they opined.

Buyers at the expo expressed their satisfaction over the overall management of the twoday event and said that the design and fabric quality was good.

Source: Bangladesh Sangbad Sangstha (BSS)