New Zealand to maintain duty-free access for BD after LDC graduation

New Zealand has expressed interest in continuing duty-free and preferential market access for Bangladesh even after its graduation from the Least Developed Countries (LDC) category, along with expanding bilateral trade and investment between the two countries.
The position was conveyed on Sunday by New Zealand’s non-resident High Commissioner David Pine during a meeting with Bangladesh Commerce Minister Khandakar Abdul Muktadir at the Secretariat in Dhaka.
The meeting also discussed the effective use of existing regional frameworks to strengthen trade cooperation between the two countries and explored the possibility of a comprehensive bilateral Free Trade Agreement (FTA).
The commerce minister said that rapid growth in investment and employment generation is essential for ensuring a successful transition of Bangladesh from LDC status. 
He noted that since a large portion of Bangladesh’s exports depends on the ready-made garments (RMG) sector, maintaining the sector’s competitiveness and ensuring preferential access to international markets are critically important.
Highlighting Bangladesh’s initiatives to improve the ease of doing business, the minister said New Zealand businesses could benefit by investing in the country’s promising sectors.
The minister further stated that regardless of whether Bangladesh graduates from LDC status, sustaining long-term economic growth will require substantial investment every year. 
He emphasised that the government is giving the highest priority to strengthening the economy through industrialisation, employment generation, and export diversification.
During the meeting, David Pine said that in the current global context, trade diversification is equally important not only for exports but also for diversifying import sources. Through this, both countries can achieve greater mutual benefits.

He added that New Zealand is placing special importance on ensuring that Bangladesh continues to enjoy existing duty-free and preferential market access after its LDC graduation without disruption.
He also noted that New Zealand products are internationally recognised as reliable, high-quality, safe, and GMO-free. New Zealand is interested in establishing a stable and long-term trade framework with Bangladesh.