BD to get post LDC duty-free access to Australia

Staff Reporter :
Australian Assistant Trade Minister Tim Ayres has assured Bangladesh that his country will continue providing duty- and quota-free access to Bangladesh even after its LDC graduation

“Graduation from LDC status would not make any changes to existing duty-free and quota-free access of Bangladesh’s products to the Australian market,” Senator Tim Ayres confirmed at a meeting with Bangladesh High Commissioner to Australia M Allama Siddiki on Friday.

Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), was present at the meeting at the Commonwealth Parliamentary Office in Sydney.

High Commissioner Siddiki briefed the minister on the socioeconomic progress of Bangladesh in the last decade underpinned by successes in the agriculture and apparel sectors, remittances, and macroeconomic and political stability.

He appreciated Australia’s growing interest in Bangladesh and highlighted opportunities in goods such as cotton, wool, LNG and minerals and services such as Fin-tech, ITES and education and skill development for further bilateral trade and investment.

He invited a business delegation led by the Minister Ayres to Bangladesh to explore the opportunities in bilateral trade and investment.

Faruque Hassan highlighted the transformation in the apparel sector of Bangladesh in terms of sustainability, energy efficiency and well being of the workers.

He spoke of the reforms that took place in the RMG sector over the years and BGMEA’s vision of achieving ESG by setting up more green factories and ensuring gender equality, inclusiveness, and a decent workplace by 2030.

Ayres referred to Bangladesh as Australia’s important partner and expressed keenness to enhance bilateral economic engagement.

He acknowledged progress made in the apparel sector of Bangladesh and strong business relations between the Australian retailers and Bangladeshi manufacturers which are contributing to diversify the industry and product range in Australia.

An 11-member delegation led by President BGMEA is visiting Australia and held the Bangladesh Apparel Summit supported by the High Commission on 18 July in Melbourne.

In addition, the High Commission in association with the Consulate General in Sydney organized a session today for BGMEA delegates to highlight the strength of Bangladesh apparel industry in relevant businesses in Sydney.

A number of 35 attendees including Australian buyers, brands and industry representatives were present during the interactive session.