Australian Assistant trade Minister Senator Tim
Ayres today assured to continue 'Duty Free Quota Free' access for Bangladesh
in Post LDC period.
"Graduation from LDC status would not make any changes to existing Duty Free
Quota Free access of Bangladesh's products to Australian market" he said in a
meeting with Bangladesh High Commissioner to Australia M Allama Siddiki at
the Commonwealth Parliamentary Office in Sydney, said a press release here.
Faruque Hassan, BGMEA President was present during the meeting.
Siddiki briefed the Minister about the impressive socio-economic progress of
Bangladesh in the last decade underpinned by success of agriculture and
apparel sectors, remittance and macroeconomic as well as political stability.
He appreciated Australia's growing interest in Bangladesh and highlighted
opportunities in goods such as cotton, wool, LNG and minerals and services
such as Fintech, ITES and education and skill development for further
bilateral trade and investment.
He invited a business delegation led by the Minister Ayres to Bangladesh to
explore the opportunities in bilateral trade and investment.
Faruque Hassan highlighted the transformation in the apparel sector of
Bangladesh in terms of sustainability, energy efficiency and well being of
the workers.
He spoke of the reforms that took place in the RMG sector over the years and
BGMEA's vision of achieving ESG by setting up more green factories and
ensuring gender equality, inclusiveness, and a decent workplace by 2030.
Ayres referred to Bangladesh as Australia's important partner and expressed
keenness to enhance bilateral economic engagement.
He acknowledged progress made in the Apparel sector of Bangladesh and strong
business relations between the Australian retailers and Bangladeshi
manufacturers which are contributing to diversify the industry and product
range in Australia.
He added that labor rights, trade union and sustainability are important
factors for Australian businesses and the government to engage with foreign
partners.
He showed interest to further link up the Australian wool and cotton industry
with relevant Bangladesh counterparts to spur growth in trade.
He expressed interest to explore ways to take forward the Trade and
Investment Framework Arrangement signed in 2021 between Bangladesh and
Australia to the next level.
11 member delegation led by President BGMEA is visiting Australia and held
the Bangladesh Apparel Summit supported by the High Commission on 18 July
2023 in Melbourne.
In addition, the High Commission in association with the Consulate General in
Sydney organized a session today for BGMEA delegates to highlight the
strength of Bangladesh Apparel Industry in relevant businesses in Sydney.
A number of 35 attendees including Australian buyers, brands and industry
representatives were present during the interactive session.
Stay tuned for latest news and updates bangladeshglobal.com Log in to get breaking news and hot topics of the day:www.bangladeshglobal.com
