Bangladesh can have bigger slice of UK’s $327bn light engineering market

[Black_cats]

Bangladesh can have bigger slice of UK’s $327bn light engineering market

ECONOMY​

TBS Report
15 February, 2023, 10:05 pm
Last modified: 15 February, 2023, 10:52 pm

Analysts and stakeholders came up with the optimism at a discussion event in the capital​

Infographic: TBS
Bangladesh can have a bigger slice of the $327 billion worth light engineering market of the United Kingdom, sector insiders and analysts said, as the northwestern European country offers developing nations privileged access to its markets with a new arrangement, called Developing Countries Trading Scheme.

The generous scheme that came into effect early this year has replaced the UK's earlier Generalised Scheme of Preferences or GSP. Developing countries like Bangladesh, under the scheme, can now enjoy reduced tariffs and relaxed rules to export goods to the UK.

"The new scheme can be a game changer for Bangladesh to break into non-RMG export sectors, such as light engineering," Research and Policy Integration for Development (RAPID) Chairman Mohammad Abdur Razzque said.

"With the preferential trading scheme for developing countries, the UK relaxed local value-addition requirements from 30% to 25%, liberal product-specific rules, extended cumulation facilities, and removed the requirement of ratification of certain international conventions," he said while presenting the keynote at a meeting that the RAPID organised at a capital hotel to discuss opportunities and challenges in exporting light engineering goods to the UK.

Bangladesh can have bigger slice of UK’s $327bn light engineering market

Analysts and stakeholders came up with the optimism at a discussion event in the capital

www.tbsnews.net

 

[bluesky]

Bangladesh can have bigger slice of UK’s $327bn light engineering market

ECONOMY​

TBS Report
15 February, 2023, 10:05 pm
Last modified: 15 February, 2023, 10:52 pm

View attachment 916547

Analysts and stakeholders came up with the optimism at a discussion event in the capital​

Infographic: TBS
Bangladesh can have a bigger slice of the $327 billion worth light engineering market of the United Kingdom, sector insiders and analysts said, as the northwestern European country offers developing nations privileged access to its markets with a new arrangement, called Developing Countries Trading Scheme.

The generous scheme that came into effect early this year has replaced the UK's earlier Generalised Scheme of Preferences or GSP. Developing countries like Bangladesh, under the scheme, can now enjoy reduced tariffs and relaxed rules to export goods to the UK.

"The new scheme can be a game changer for Bangladesh to break into non-RMG export sectors, such as light engineering," Research and Policy Integration for Development (RAPID) Chairman Mohammad Abdur Razzque said.

"With the preferential trading scheme for developing countries, the UK relaxed local value-addition requirements from 30% to 25%, liberal product-specific rules, extended cumulation facilities, and removed the requirement of ratification of certain international conventions," he said while presenting the keynote at a meeting that the RAPID organised at a capital hotel to discuss opportunities and challenges in exporting light engineering goods to the UK.

Bangladesh can have bigger slice of UK’s $327bn light engineering market

Analysts and stakeholders came up with the optimism at a discussion event in the capital

www.tbsnews.net

Why does someone like @Black_cats come up with metal-based industries? It is supposed to be my forte.

@Black_cats and all other BAL idiots should talk more about low-value garments that will take BD to a highly developed one like Japan.

I am surprised that no bloody BAL idiot has talked about teaching Japan to produce garments it made in the 1870s. Silk was the mainstay. Ukiye designs (wooden cartons) are still found in the art museums of many Western countries.