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Urges UK to import products from Bangladesh at a higher rate

About 94 percent of Bangladesh’s total exports to the UK are made-up garments, amounting to USD 5.03 billion. However, Dhaka Chamber of Commerce and Industry (DCCI) president Ashraf Ahmed urged the UK to import Bangladesh’s potential export products at a higher rate.

He expressed this opinion at the DCCI’s bilateral exchange meeting with British High Commissioner Sarah Cook, who was appointed to Bangladesh on Sunday. DCCI president said in the welcome address of the event welcoming the UK High Commissioner, that the bilateral trade between Bangladesh and the UK was 5.73 billion US dollars in the fiscal year 2023, while the import and export amounts were 415.32 million and 5.31 billion US dollars respectively. The UK market is the third largest destination for the export of Bangladeshi products, besides the entrepreneurs of that country have invested about 3.04 billion dollars in various sectors of Bangladesh. He expressed the view that there is ample scope for further expansion of economic cooperation between the two countries in finance, healthcare, fintech, BPO, BPS, tourism and education sectors.

British High Commissioner Sarah Cook said that the United Kingdom is very interested in working with Bangladesh on economic and climate change issues. He pointed out that his country will continue the necessary cooperation to face the challenges in the post-LDC transition period of Bangladesh, but in order to retain the export market of Bangladesh in the post-LDC period, Bangladesh has no option to diversify other export products apart from ready-made garments.

The High Commissioner also said that agriculture, sea-food, leather products and light engineering products, especially bicycles, have great potential for export to the UK market. In this regard, he called on Bangladeshi entrepreneurs to come forward.