Robert Chatterton Dickson, High Commissioner of the United Kingdom, hosted a briefing on the first ever trade and commerce conference between the two countries on 16 February. During that conference he said, Bangladesh would have a preferential market facility in the United Kingdom till 2027, even if it became a middle income country. Bangladeshi products will get Generalised System of Preferences or GSP in the United Kingdom in two steps for three years each.
Robert Dickson said, “Business opportunities in Bangladesh are increasing for companies based in the United Kingdom, especially in the high-quality service sector. Duty and quota-free facilities are being provided as part of cooperation in the field of export-oriented economic development in Bangladesh. Even if Bangladesh becomes a middle income country, it will get GSP privileges in two steps for three years. In the first phase, GSP will be available till 2024 and in the second phase till 2027.
He added, “In order to attract the attention of foreign investors, it is important to address bureaucratic complexities, procedural uncertainties, implementing agreement clauses, and eliminating corruption as well as tax issues.”
