The BGMEA, an association of ready-made garment industry owners, seeks the help of the country’s parliamentarians to get duty-free access to the UK market for the export of goods, even though Bangladesh has been upgraded from the Least Developed Countries (LDC) list. BGMEA President Farooq Hasan sought this assistance during a meeting with two members of the British Parliament, Rushnara Ali and Rupa Huq, in London on Sunday (14 November).
BGMEA said in a statement that the two British politicians of Bangladeshi descent discussed the transition from a least developed country, possible changes to the tax system, and how Bangladesh could retain access to the UK market in the post-LDC era.
The BGMEA President sought the cooperation of the British Parliament in encouraging expatriate Bangladeshis living in the UK to invest in potential sectors such as high-value-added products and synthetic fabrics.
In the 2018-19 fiscal year, ready-made garments worth 385 crore dollars were exported from Bangladesh to the UK market. The following year during the pandemic, it dropped to 317 crore dollars. In the last fiscal year 2020-21, garment exports increased again to 344 crore dollars. Bangladesh has been getting duty-free facilities in the UK market for a long time. These facilities remained in the UK market even after Brexit. However, after the transition of Bangladesh from LDC, the facility will no longer exist.
