Australia Assures Bangladesh of Duty Free Status Post LDC

Tim Ayres, Australia’s Assistant Trade Minister gave an assurance that duty free access for Bangladeshi garments would continue, even after the country loses the perks of its least developed country (LDC) status in 2026.

The Minister said this while meeting a delegation of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh’s high commissioner to Australia Allama Siddiki in Sydney,

Meanwhile, Bangladesh too has plans to double its garment exports to Australia within the next five years by capitalising on the expected reduction in China’s apparel exports to Australia.

According to BGMEA statistics, in fiscal 2022-23, Bangladeshi garment shipments to Australia totaled $1.2 billion, up an impressive 42 percent despite a worldwide slowdown.

BGMEA in collaboration with HSBC Bank also organised the Bangladesh Apparel Summit in Melbourne, Australia last week.

The summit was attended by 130 participants who included buyers, retailers, suppliers, consumers, development partners and government policymakers.

“The summit created an opportunity for fruitful discussions, meaningful interactions, and exchange of ideas and information,” a press release informed.