In order to improve bilateral trade and economic relations, UK Trade Envoy Baroness Winterton traveled to Dhaka this week. She reaffirmed London’s commitment to a long-term cooperation and shared growth with Bangladesh.
According to a statement released by the British High Commission here today, Winterton is currently on her third visit to Bangladesh, which coincides with the establishment of the nation’s newly elected administration in February.
It noted that the visit demonstrated the UK’s desire to strengthen collaboration in trade, economic growth, higher education, aviation, and defense.
The ambassador will meet with government and military officials, as well as senior ministers, during her visit to discuss growth priorities that will benefit both parties and to reaffirm the UK’s position as a trustworthy economic partner.
In order to investigate prospects for growing bilateral trade, investment, and commercial cooperation, she will also interact with business executives and representatives of UK businesses doing business in Bangladesh.
Baroness Winterton will visit Bangladeshi export-focused companies who are taking use of the UK’s Developing Countries Trading Scheme (DCTS), one of the most generous trade preference schemes in the world, as part of her agenda.
The program facilitates duty-free market access for a variety of goods, streamlines origin regulations, and encourages export diversification outside of clothing, all of which help long-term economic growth and job creation.
Bangladesh is currently the biggest recipient of duty-free access under the DCTS, providing British customers with goods at reasonable prices while maintaining domestic jobs.
“The UK and Bangladesh share a strong, historic partnership, and our countries continue to benefit from expanding trade and investment ties,” Baroness Winterton said according to the statement.
“I look forward to engaging with government leaders, businesses and entrepreneurs to identify new opportunities that support economic growth and prosperity for both nations,” she added.
Baroness Winterton’s visit, according to British High Commissioner to Bangladesh Sarah Cooke, shows how much the UK values deepening its relationship with Bangladesh.
“Shared growth and prosperity are at the heart of the UK-Bangladesh relationship. This visit will further solidify our partnership as Bangladesh enters an exciting new chapter,” she said.
The UK continues to be one of Bangladesh’s biggest export markets as well as a crucial partner for investment and development. Both countries seek to strengthen their high-value, robust, and diverse economic ties.
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