UK to continue GSP benefits for Bangladesh until 2027

Bangladesh would continue to enjoy the generalised system of preferences (GSP) on trade until 2027, i.e., till three years after it graduates from the least developed country (LDC) status, according to British high commissioner in Dhaka, Robert Chatterton Dickso, who recently said the two countries will find out a mechanism to maintain a trade regime beneficial for both after 2027, reports Fibre2Fashion News.

Dickso was speaking to journalists at his residence on the outcome of the first-ever UK-Bangladesh Trade and Investment Dialogue held in Dhaka recently, according to Bangla media reports.

The GSP includes quota-free and duty-free market access to the United Kingdom for all products other than arms and ammunition.

The UK is the third largest export destination of Bangladesh and the country maintains a positive trade balance with the UK.

The major exportable items include readymade garments, frozen food, IT engineering, leather and jute goods and bicycle