Bangladesh’s exports to the United Kingdom could reach US$10 billion if its share of the UK import market rises from 0.49pc to 1.0pc, discussants said at a workshop in Dhaka on Wednesday.
They stressed the need to diversify exports beyond ready-made garments (RMG), meet international standards, modernise certification processes, ensure regulatory compliance and address tariff barriers to unlock the UK market’s potential.
The observations came at a workshop titled “Exporting to the UK: Opportunities Beyond RMG,” organised in collaboration with the Dhaka Chamber of Commerce and Industry (DCCI) and the British High Commission in Bangladesh at the DCCI Auditorium in the capital.
The workshop aimed to raise awareness of opportunities in the UK market, particularly in non-RMG sectors, while promoting export diversification and higher-value products.
DCCI President Taskeen Ahmed emphasised the importance of improving product quality, standards compliance, certification, traceability, branding and market intelligence to expand Bangladesh’s exports to the UK beyond RMG.
He also stressed the need to utilise the benefits of the Developing Countries Trading Scheme (DCTS) and address tariff and non-tariff barriers to strengthen bilateral trade and investment.
UK Acting High Commissioner to Bangladesh James Goldman highlighted the longstanding partnership between the two countries. He said continued UK market access after Bangladesh’s graduation from the least developed country (LDC) category would provide businesses with the certainty needed to plan, expand and invest.
He encouraged more Bangladeshi businesses to capitalise on the opportunities available in the UK market.
Export Promotion Bureau (EPB) Vice Chairman and Chief Executive Mohammad Hasan Arif, an additional secretary, presented the keynote paper on UK market opportunities, focusing on export expansion, diversification and higher-value, non-RMG products.
Financial Mirror/AH
