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Bangladesh could increase its earnings from readymade garment (RMG) exports to the United Kingdom from $4.5 billion last fiscal year to $11 billion by 2030 as it graduates from least developed country (LDC) status to a duty-free market. Will continue to gain access. According to estimates by Dhaka-based non-profit Research and Policy Integration for Development (RAPID).

RAPID Chairman MA Razak said that the United Kingdom will continue to provide existing duty benefits to all LDCs until 2029 which will include a three-year transition period.

“It is still uncertain whether Bangladesh’s apparel exports will continue to receive duty-free market access in the European Union (EU) after the LDCs graduate, but under the UK Developed Countries Trade Scheme (DCTS), Bangladesh apparel exports will continue to receive duty-free market access.” will continue to do – free access in the UK”, he was quoted as saying by a media outlet in the country.

Bangladesh could increase its earnings from apparel exports to $11 billion by 2030 from $4.5 billion in the last fiscal year, according to a Dhaka-based non-developed country, graduating from the least developed country. Gain, which said non-RMG exports to the UK could reach $700 million to $1.3 billion by 2030.

He said non-RMG exports in the country could reach $1.3 billion by 2030 from $700 million at present.

Razzak was presenting the results of a study at a stakeholder consultation meeting titled ‘Expanding and Diversifying Exports to the UK Market’ in Dhaka.

Fibre2Fashion News Desk (DS)

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