UK's trading scheme opens zero-tariff access for Bangladeshi businesses: High Commissioner Cooke
The UK's Developing Countries Trading Scheme (DCTS) enables Bangladeshi businesses to access the UK market with zero tariffs, benefiting UK consumers by reducing the cost of goods, British High Commissioner to Bangladesh, Sarah Cooke, said today (28 July).
She acknowledged that, while Bangladeshi exporters of non-traditional products continue to face policy and administrative hurdles domestically — alongside challenges entering international markets — the UK government is providing technical assistance to the Bangladesh government to implement reforms aimed at improving the ease of doing business and facilitating exports, reads a press release.
Her remarks came during a visit to Cupcake Exports, a Bangladeshi soft toy manufacturer that exports to the UK. Cooke was accompanied by Lutfey Siddiqi, special envoy to the chief adviser of Bangladesh.
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"Export diversification is crucial for Bangladesh's sustainable economic growth.The United Kingdom is working closely with Bangladesh to unlock new trade opportunities, support business-friendly reforms, and connect British buyers with high-quality Bangladeshi products," Cooke said.
Reaffirming the UK's commitment to enhancing and diversifying Bangladesh's exports, Cooke emphasised ongoing efforts to strengthen connections between UK importers and Bangladeshi suppliers.
On 10 July, the UK government announced further simplifications to the Developing Countries Trading Scheme. The updated provisions streamline the rules of origin, making it even easier for Bangladeshi businesses to export to the UK.
These changes are expected to help Bangladesh move up the export value chain, diversify into new product categories, generate employment, and contribute to poverty reduction.
