Bangladesh’s exports to UK could hit $10b with market share boost

Bangladesh’s exports to the United Kingdom could reach $10 billion if the country increases its share of the UK import market from the current 0.49 percent to 1 percent, speakers said at a workshop in Dhaka yesterday.

They stressed the need to diversify exports beyond readymade garments (RMG), improve product quality and compliance with international standards, and address tariff and non-tariff barriers to tap the UK market’s potential.

The Export Promotion Bureau (EPB), Dhaka Chamber of Commerce and Industry (DCCI), and British High Commission in Bangladesh jointly organised the workshop titled “Exporting to the UK: Opportunities Beyond RMG” at the DCCI Auditorium.

The event focused on opportunities for non-RMG exports, export diversification and the potential for higher-value products as Bangladesh prepares to graduate from the least developed country (LDC) category.

DCCI President Taskeen Ahmed said Bangladesh needs to improve product quality, certification, traceability, branding and market intelligence to diversify its exports to the UK.

He also stressed the importance of making effective use of the UK’s Developing Countries Trading Scheme (DCTS) and addressing tariff and non-tariff barriers to strengthen bilateral trade and investment.

James Goldman, acting high commissioner of the British High Commission in Bangladesh, highlighted the longstanding partnership between the two countries.

He said continued UK market access after Bangladesh’s LDC graduation would provide businesses with the certainty needed to plan, expand and invest, encouraging more Bangladeshi companies to capitalise on the opportunities.

Mohammad Hasan Arif, vice-chairman and chief executive (additional secretary) of EPB, presented the keynote paper on UK market opportunities, export diversification and prospects for higher-value products.

He noted that non-RMG products account for only around 6 percent of Bangladesh’s merchandise exports to the UK, despite strong demand for products such as processed food, pharmaceuticals, footwear and furniture.

Arif emphasised the need to address non-tariff barriers, meet UK regulatory and product standards, and strengthen testing, certification and production capacities to improve export competitiveness.

A technical session on the DCTS was conducted by Ellie Parker, regional trade for development adviser for South Asia, Central Asia and the South Caucasus at the British High Commission.

The session covered current and post-LDC graduation market-access opportunities under the scheme, practical guidance on claiming preferential tariff benefits, and key considerations for exporters seeking to enter or expand in the UK market.

An industry-government panel discussion brought together representatives from customs, footwear and leather goods, seafood, agro-processing, packaging and other business sectors.

Participants discussed UK market opportunities, export preparation, the use of DCTS preferences, export procedures and regulatory, technical and operational challenges faced by businesses.

The workshop also featured a question-and-answer session, with participants exchanging views on practical ways to access the UK market.

Speakers underscored the need for stronger cooperation among government agencies, businesses and development partners to diversify exports, improve product competitiveness and make better use of preferential market-access opportunities, particularly as Bangladesh prepares for LDC graduation.

DCCI Vice President Md Salem Sulaiman, members of the DCCI board of directors, EPB officials and representatives from the public and private sectors also attended the event.