New Zealand keen to continue duty-free market access for Bangladesh after LDC graduation
Muktadir says increasing investment and generating employment opportunities are essential for making Bangladesh’s LDC transition successful
New Zealand has expressed strong interest in continuing duty-free and preferential market access facilities for Bangladesh even after the country graduates from the Least Developed Country (LDC) category.
The interest was conveyed by New Zealand's non-resident High Commissioner to Bangladesh, David Pine, during a meeting with Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir at the Secretariat today (17 May), reads a press release.
During the meeting, the two sides discussed ways to expand bilateral trade and investment relations further and make effective use of existing regional trade frameworks.
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They also discussed the possibility of signing a comprehensive Bilateral Free Trade Agreement (FTA) to strengthen trade cooperation between the two countries.
Speaking at the meeting, Muktadir said increasing investment and generating employment opportunities are essential for making Bangladesh's LDC transition successful.
He noted that as the Ready-Made Garments (RMG) sector constitutes a major share of the country's exports, maintaining its competitiveness and ensuring continued preferential market access are crucial.
The minister said the government is giving top priority to industrialisation, employment generation, and export diversification to strengthen the economy and sustain growth momentum.
He urged New Zealand investors to take advantage of Bangladesh's business-friendly initiatives and invest in promising sectors.
David Pine stressed the importance of diversifying trade in the current global context, both in terms of exports and import sources, for mutual benefit.
He assured that New Zealand attaches special importance to ensuring the continuation of existing duty-free and preferential market access facilities for Bangladesh after its LDC graduation.
The high commissioner also said New Zealand is interested in building a stable and long-term trade framework with Bangladesh.
He noted that New Zealand products are globally recognised for their high quality, safety standards, and GMO-free nature.
Additional Secretary of the Ministry of Commerce Ayesha Akter was also present at the meeting.
