Bangladeshi exporters will retain duty-free access to the UK market for 92 per cent of the products even after the three-year transitional concession ends post Least Developed Country (LDC) graduation, British Deputy High Commissioner James Goldman said on Monday.
Around 99.8% of Bangladeshi products will continue to receive duty-free treatment in the UK market during the three-year transition, he said during a meeting with Mohammed Amirul Haque, president of the Chittagong Chamber of Commerce and Industry (CCCI), in Chattogram.
After the transition period, around 92% of Bangladeshi products will still enjoy duty-free access to the British market, CCCI said, citing him in a press release.
The UK diplomat also said the British government had established a £2 billion fund to support Bangladeshi businesses and investors using British goods, services and technology.
The initiative would help Bangladeshi companies expand their presence in the UK market, he said.
The British High Commission will organise a workshop at the CCCI to brief local businesses on UK market requirements, procedures and opportunities, Goldman said.
The trade assurances come as Bangladesh prepares for changes in market access conditions after leaving LDC status, which currently provides preferential trade benefits in several developed markets.
Amirul Haque called for greater British investment in Bangladesh’s logistics and industrial infrastructure to strengthen Chattogram’s role as a regional trade hub connecting South and Southeast Asia.
He highlighted the need for investment in the Chattogram seaport and Shah Amanat International Airport, saying improved logistics capacity would help attract more foreign investment.
Haque also invited British investors to participate in major infrastructure projects, including the development and operation of key facilities, citing foreign participation in the Laldia Terminal as an example.
He urged UK businesses to explore opportunities in sectors including pharmaceuticals, steel, textiles and green energy, saying Chattogram’s strategic location could provide access to wider Asian markets.
Business leader Amir Humayun Mahmud Chowdhury urged the UK to accelerate activities of its development organisations, including the former Department for International Development (DFID), to support Bangladesh’s socio-economic progress.
CCCI Senior Vice-President Md Amjad Hossain Chowdhury, former Vice-President Syed Mohammad Tanvir and British High Commission Director of Trade and Investment Sakib Ershad also attended the meeting.
