UK Sets Sights on Boosting £4.7bn Bangladesh Trade Deal
Record-Breaking Trade Links
The UK is ramping up efforts to deepen trade ties with Bangladesh, eyeing bigger jobs and economic growth on both sides. Trade between the two nations smashed records in 2022, hitting a whopping £4.7 billion in goods and services.
Minister Huddleston’s Mission: Open Doors and Seal Deals
During a high-profile visit, Minister Huddleston hailed the strong, long-standing UK-Bangladesh bond and revealed plans to turbocharge the partnership. “We’re keen to tear down barriers holding back trade and investment,” he said, promising close teamwork with the Bangladesh government to boost mutual prosperity.
Key Talks on Aviation and Trade Perks
- Huddleston is set to meet Salman F Rahman MP, Prime Minister Sheikh Hasina’s Private Industry and Investment Adviser. The agenda? Rolling out the May 2023 Aviation Trade and Investment Partnership — a deal aimed at revving up Bangladesh’s aviation sector and creating fresh jobs in both countries.
- Next up, a sit-down with Commerce Minister Tipu Munshi MP to discuss the UK’s new Developing Countries Trading Scheme (DCTS). This scheme slashes red tape with simpler rules of origin, allowing Bangladeshi exporters more flexibility and zero tariffs when shipping to the UK.
- He’ll also catch up with Mahbub Ali MP, State Minister for Civil Aviation and Tourism, to back Bangladesh’s bid to become a South Asian aviation powerhouse, with UK support.
A Win-Win Future
Minister Huddleston’s visit sends a clear message: the UK is all in to strengthen economic ties and unlock new partnership opportunities across sectors — fueling growth and prosperity for both nations.
