The UK is committed to working with Bangladesh to foster a mutually beneficial trade and investment relationship that will generate jobs and drive economic growth. In 2022, the total trade in goods and services between the UK and Bangladesh reached a record high of £4.7 billion.
Minister Huddleston emphasized the enduring relationship between the UK and Bangladesh and highlighted the significant growth in trade over the past year. His visit underscores the UK’s strong ambition to enhance the trade and investment partnership with Bangladesh. The Minister expressed his eagerness to collaborate with the Government of Bangladesh in addressing barriers to market access and trade to promote mutual prosperity.
During his visit, Minister Huddleston is scheduled to meet with Salman F Rahman MP, the Private Industry and Investment Adviser to Honourable Prime Minister Sheikh Hasina. They will discuss the Aviation Trade and Investment Partnership, which was signed by the UK and Bangladesh in May 2023. This partnership aims to strengthen Bangladesh’s aviation sector and create employment opportunities in both countries.
The Minister will also hold a meeting with Tipu Munshi MP, the Honourable Commerce Minister, to discuss the UK’s Developing Countries Trading Scheme (DCTS), which recently came into effect. The DCTS facilitates trade between the UK and Bangladesh by providing simpler and more generous Rules of Origin. This allows Bangladeshi exporters to utilize components from a wider range of countries while still enjoying zero tariffs when exporting to the UK.
Additionally, Minister Huddleston will meet Mahbub Ali MP, the Honourable State Minister for Civil Aviation and Tourism, to discuss the UK’s assistance in realizing Bangladesh’s aspiration of becoming a prominent aviation hub in South Asia.
The visit of Minister Huddleston underscores the UK’s commitment to strengthening its economic ties with Bangladesh and exploring opportunities for collaboration in various sectors, contributing to the growth and prosperity of both nations.
