The UK and Bangladesh agreed to develop a future trade partnership that will increase mutual prosperity and Bangladesh’s further economic development as it is graduating from Least Developed Country (LDCs) status.
Both countries agreed to improve the trading relationship through a mutual commitment to private sector led growth, encouraging investment, and addressing barriers to trade faced by their companies when exporting goods and services.The two countries reached the agreement at the first ever UK-Bangladesh Trade and Investment Dialogue held at the ministry of commerce in Dhaka on Tuesday.
At the Dialogue, the UK government was represented by the British High Commissioner, Robert Chatterton Dickson, and the Government of Bangladesh was represented by the Commerce Secretary Md Jafar Uddin.
The UK and Bangladesh discussed cooperation in areas such as GSP, LDC Graduation, investment cooperation, access of Bangladeshi professionals to UK service sectors, trade facilitation, ease of doing business, financial sector development, higher education provision, taxation issues and intellectual property protection.
The discussions were cordial and constructive, said the British High Commission in Dhaka.
“The UK is committed to working with Bangladesh to create a trade and investment relationship that helps both of our economies grow. Foreign Investment can provide
jobs, transfer skills and generate revenue. A conducive business environment and removal of market access barriers can benefit both countries,” he said.The commerce secretary said: “This dialogue will pave the way for our products, services and professionals to penetrate the UK market and contribute to increased investment in Bangladesh and expand our exports.”