Bangladesh that up till now has been enjoying tariff concessions on its status as the least developed country is likely to face challenges for its readymade garments exports when it graduates out of LDC status.
The Commerce Secretary of Bangladesh Tapan Kanti Ghosh admitted that the country may face different impediments in exporting readymade garments (RMG) in the post-LDC (least developed country) graduation era. He said that the government will have to ensure some policy support to continue the trend in RMG exports as well as competitiveness in the global market.
He was addressing a validation workshop titled: “Study on policy support and incentives before and after LDC graduation for RMG sector” at Bangladesh Foreign Trade Institution (BFTI).
The BFTI chief executive officer Md Jafar Uddin in the chair, at the event that was also addressed by Export Promotion Bureau (EPB) vice chairman AHM Ahsan while BFTI director General Md Obaidul Azam conducted the function. Md Jafar Uddin said the optimum use of the incentives and subsidy in the RMG exports should be fully ensured before the LDC graduation.
Bangladesh may face challenges in RMG export in a post-LDC era
