$10 billion export to UK possible, says DCCI
A workshop on Bangladesh's export potentials to the UK market was at DCCI on Wednesday. Agamir Somoy.
If Bangladesh's share of exports to the UK market can be increased from 0.49 percent to 1 percent, the country's total exports to the UK could reach 10 billion US dollars.
However, to achieve this goal, it is important to reduce sole reliance on ready-made garments (RMG), create other promising sectors, ensure product quality standards and compliance, and remove tariff and non-tariff barriers.
Speakers came up with these observations at a wokshop titled "Increasing Exports to the UK Market: Potential of Sectors Other Than Ready-Made Garments" held on Wednesday at the Dhaka Chamber of Commerce and Industry (DCCI) auditorium. The workshop was jointly organized by Dhaka Chamber, the Export Promotion Bureau (EPB), and the British High Commission in Bangladesh.
In his welcome speech at the workshop, DCCI President Taskin Ahmed said that Bangladesh's exports to the UK market mainly depend on the ready-made garment sector. To unlock new potential, local businesses must ensure product quality improvement, international certification, supply chain source tracking, improved packaging, and branding. He called on entrepreneurs to prepare in advance to take full advantage of the market facilities under the UK government's Developing Countries Trading Scheme (DCTS).
Speaking as a special guest at the event, James Goldman, Acting High Commissioner of the British High Commission in Bangladesh, said that continued access to the UK market even after LDC graduation will provide special assurance to Bangladeshi businesses in formulating future plans and making investments.
In the keynote paper, Mohammad Hasan Arif, Vice Chairman and Chief Executive Officer of EPB, said that in the 2025-26 fiscal year, Bangladesh's exports to the UK market amounted to 4.67 billion dollars, 94 percent of which came from the ready-made garment sector. Yet the UK imports a total of 948 billion dollars worth of goods annually, where Bangladesh's share is only 0.49 percent. To increase exports, he advised giving special emphasis on medicines, processed food and frozen food, agricultural products, bicycles, light engineering, and plastic products.
At the workshop, Ms. Ellie Parker, Regional Trade Adviser at the British High Commission, conducted a technical session for DCCI members and entrepreneurs on the effective use of the DCTS scheme.
In the panel discussion, Additional Commissioner of the Chattogram Customs Bond Commissionerate Mohammad Shahidul Islam, Director of the Footwear Exporters Association Amrita Makin Islam, Director of Hortex Foundation Khurshid Ahmed Farhad, Director of Meghna Group Mohammad Mustaq Ahmed Tanvir, and top entrepreneurs from various sectors participated.
Speakers urged integrated public-private initiatives and diversification of export products to tackle the challenges after LDC graduation.
DCCI Vice President Md. Salim Solaiman, members of the board of directors, and senior representatives of EPB and various private sectors were present at the event.
