UK reaffirms commitment to strengthening economic ties with Bangladesh

The United Kingdom (UK) remains steadfast in its commitment to deepening its partnership with Bangladesh, particularly in expanding bilateral trade and investment, according to Sarah Cooke, British high commissioner to Bangladesh.

Cooke reiterated this commitment during a meeting with Mahbubur Rahman, president of the International Chamber of Commerce (ICC) Bangladesh, and members of the ICCB executive board at the chamber's secretariat in Dhaka on Monday, according to a press release.

She acknowledged Bangladesh's commendable progress toward graduating from Least Developed Country (LDC) status and underscored the importance of export diversification as a means to sustain economic growth.

The high commissioner emphasised that the UK remains a vital export destination for Bangladesh and continues to support its market access, notably through the Developing Countries Trading Scheme (DCTS).

Under the scheme, 99.8 percent of Bangladeshi products currently enjoy zero-percent import tariffs until 2029. Thereafter, 92 percent of product lines, including readymade garments, will continue to benefit from zero-duty access.

Looking ahead, Cooke identified higher education, climate finance, renewable energy, and aviation as priority sectors for future collaboration. She also highlighted UK-led initiatives aimed at empowering women entrepreneurs and facilitating their entry into the UK market.

During the meeting, ICCB representatives proposed enhanced UK support for capacity building, skills development, and the provision of scholarships for higher education.

ICCB President Rahman reflected on the long-standing and dynamic UK-Bangladesh relationship, anchored in strong historical bonds, vibrant people-to-people ties, and growing economic engagement.

He also acknowledged the UK's status as one of Bangladesh's largest export markets particularly for garments and noted the significant presence of British companies in Bangladesh's financial services, energy, and education sectors.

The meeting was attended by AK Azad and Naser Ezaz Bijoy, vice-presidents of ICCB; and Abdul Hai Sarker, Aftab Ul Islam, Anwar-Ul Alam Chowdhury (Parvez), Md Fazlul Hoque, Mir Nasir Hossain, Sayeed Ahmed, Showkat Aziz Russell and Simeen Rahman, executive board members; Muhammad A (Rumee) Ali, chairman of ICCB Banking Commission; MA Jabbar, managing director of DBL Group; and Ataur Rahman, secretary general of ICCB.

Saiyab Amal Ahmed, deputy director of trade and investment at British High Commission Dhaka, Ajay Bihari Saha, general manager of ICCB, and Syeda Shahnewaz Lotika, deputy general manager, were also present.