Having left the European Union, the United Kingdom is going to launch the Developing Countries Trading Scheme to replace the Generalized Scheme of Preferences (GSP) offering lower tariffs and simpler rules of origin requirements for exporting to the UK to facilitate growth in trade with developing countries such as Bangladesh.
With this relaxation in export terms, set to take effect this year, Bangladesh’s exports of readymade garments to the UK may increase two and a half times to $11 billion by 2030, a study by the private research organization Research and Policy Integration for Development (RAPID) has found.
The study report published was entitled “Expanding and diversifying export to the UK under the developing countries trading system”, at the BRAC Inn Centre in the capital’s Mohakhali recently.
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