Written by The Banking Post
New Zealand has assured Bangladesh that it will continue providing duty-free and quota-free (DFQF) market access even after the country graduates from least developed country (LDC) status, offering a major boost to Dhaka’s export prospects.
The assurance came during a meeting between Commerce Minister Khandakar Abdul Muktadir and New Zealand’s non-resident High Commissioner to Bangladesh, David Pine, at the secretariat on Sunday.
The two sides also discussed expanding bilateral trade and investment cooperation, including the possible signing of a comprehensive bilateral free trade agreement (FTA) and better use of existing regional trade frameworks.
The commerce minister stressed that attracting investment and generating employment will be critical for Bangladesh’s smooth transition from LDC status. He said the government has already taken a series of measures to improve the ease of doing business and invited New Zealand investors to explore opportunities in Bangladesh’s high-potential sectors.
He also noted that Bangladesh would continue to require substantial annual investment inflows to sustain economic growth, regardless of the timing of its LDC graduation.
The New Zealand envoy said diversification of both export and import markets has become increasingly important in the current global economic environment, adding that stronger bilateral cooperation could create mutual benefits for both countries.
He reaffirmed New Zealand’s commitment to maintaining Bangladesh’s existing preferential market access after LDC graduation, signalling continued support for bilateral trade expansion.
