Metropolis Desk-
Bangladesh can save up to £315 million in tariffs annually on exports to the UK, according to research by the British High Commission in Dhaka.
In June 2023, the outdated Generalized Scheme of Preferences (GSP) was replaced with the new UK Developing Countries Trading Scheme (DCTS).
With duty-free access to everything but weaponry under the Comprehensive Preferences tier through 2029, Bangladesh will be the DCTS’s greatest winner.
The plan intends to increase trade and prosperity, with retention based on adherence to international agreements and respect for human and labor rights.
The UK will pay special attention to these factors. The program advances trade ties between the UK and Bangladesh and aids Bangladesh’s transition from LDC status.
