Bangladesh after enjoying the status of the least developed country for over three decades will graduate to a middle income country after 2026 threatening its duty-free status. but the United Kingdom has allowed duty-free status to 92 percent of its tariff lines.
This was agreed at a recent meeting of Bangladesh authorities with the United Kingdom officials in Dhaka. Bangladesh however desired that the GSP benefits be continued six years after it graduates from LCD but settled on three years limit.
Mohammad Abdur Rahim Khan, additional secretary (export) in the Bangladesh commerce ministry revealed after the meeting that Bangladesh will receive duty-free export facilities for 92 percent of tariff line products, including readymade garments (RMG), in the UK market after graduating from the least developed country (LDC) status in 2026.
The United Kingdom will continue offering Bangladesh different facilities under the Generalised Scheme of Preferences (GSP) for three years as a transition period after LDC graduation. The request to extend the post-LCD facilities for six years was not outright rejected but the UK delegates promised to consider it in their internal discussions later.
Bangladesh to enjoy duty free status on 92 percent tariff lines in UK for 3 years post 2026
