The British High Commission has reaffirmed its commitment to maintaining strong trade relations with Bangladesh, with the UK market set to remain open to Bangladeshi exporters following the country’s graduation from Least Developed Country (LDC) status.
The assurance came during a visit by the British High Commission delegation, led by the Deputy High Commissioner James Goldman, to Vancot Limited, a manufacturing facility of Shin Shin Group, where the delegation held discussions on Bangladesh’s apparel exports, sustainability, technological advancement, investment and future UK-Bangladesh trade relations.
During the visit, the Deputy High Commissioner highlighted the benefits available to Bangladeshi exporters under the UK’s Developing Countries Trading Scheme (DCTS) and said the existing level of market access would remain unchanged during the three-year transition period following Bangladesh’s LDC graduation.
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“Bangladesh enjoys duty-free access for 99.8% of products exported to the UK under our Developing Countries Trading Scheme, and that access will stay exactly the same during the three-year transition period after Bangladesh graduates from LDC status,” the Deputy High Commissioner said.
He further noted that after the transition period, 92% of products, including garments, will continue to enter the UK market duty-free.
“What does that mean for businesses in Bangladesh and their UK partners? It means certainty and confidence to invest, grow and plan for the future,” he said.
The Deputy High Commissioner added: “My message to Bangladeshi exporters is simple: the UK market will remain open to Bangladesh after LDC graduation, and we look forward to continuing this strong trading partnership in the years ahead.”
During the visit, Shin Shin Group presented its ongoing investments in automation, renewable energy and other initiatives aimed at strengthening its social and environmental performance.
“We were honored to welcome the British High Commission delegation to Vancot Limited and greatly appreciated their interest in our manufacturing operations, workplace practices, technological innovations and sustainability initiatives,” said Mohammad Sohel Sadat, Chairman of Shin Shin Group.
The Deputy British High Commissioner were accompanied by Sakib Ershad, Director of Trade and Investment and Sajid Hasan, Head of Communications, the British High Commission; and Neelanjana Khan, Country Project Manager, Primark.
From Shin Shin Mifrae Mostari Sadat, Director (Finance, Human Assets and Culture); Shahid Sadat, Director (Development and Operations); and Tim Zahid Hossain, Advisor (People & Culture), among others, were present during the visit.
The Group also expressed its willingness to continue facilitating dialogue and collaboration aimed at supporting sustainable investment, responsible manufacturing and stronger bilateral trade relations between Bangladesh and the United Kingdom.