Bangladeshi exporters no longer need to feel apprehensive regarding exports to the United Kingdom as Britain has assured that it will continue to allow duty-free access to its markets post Brexit. The UK is the third largest single export destination for Bangladesh, especially since the exporters enjoy duty-free market access for all products under the Generalised System of Preferences (GSP) under the EU trade agreements. If, the government can negotiate effectively with Britain, Bangladesh’s exports to the country will see a sharp rise, he explained. A trade analysis by the Commonwealth magazine, entitled “Trade Implications of Brexit for Commonwealth Developing Countries”, named Bangladesh as the number one country that would be affected in absolute terms. In the 2015-16 fiscal year, Bangladesh had earned $3.80bn in exports to the UK, of which a lion’s share, about $3.52bn, came from the RMG sector.

Source: Dhaka Tribune June 25, 2017 12:33 UTC