Bangladesh-UK G2G trade meeting in January: Tipu Munshi

The UK has proposed establishment of a UK-Bangladesh Trade and Investment Dialogue to deepen the already strong trading relationship between the two countries.

British High Commissioner Robert Chatterton Dickson formally made the proposal as he met with Bangladesh Commerce Minister Tipu Munshi at the latter's office today.

The Trade and Investment Dialogue would look to facilitate the deepest possible future trading relationship between the UK and Bangladesh through a mutual commitment to identifying and addressing trade barriers faced by the UK companies during export and to helping improve the business environment, said UK High Commission in a statement.

"As a champion of free trade, the UK wants to deepen its already strong trading relationship with Bangladesh by developing a trade partnership that builds on our shared trade and investment interests," it said.

High Commissioner Robert Chatterton Dickson said, "The UK is looking to harness the opportunity presented by the UK's exit from the European Union to develop a future trade partnership with Bangladesh that will increase two-way trade and bring greater prosperity to both of our countries."

In the meeting, Commerce Minister Tipu Munshi said Bangladesh is encouraged by Britain's interest in post-Brexit trade and investment.

Trade talks between the two countries are essential for the proper management of trade and investment in new ventures. A government to government (G2G) trade meeting between the two countries will be held in January, the minister said.

"We hope that after the separation (Brexit) of Britain from the European Union, Bangladesh will be given importance in the new trade policy," he added.

The value of Bangladesh exports to the UK is £3.2 billion, while the value of UK exports to Bangladesh is £811 million. The UK was the third largest investor in Bangladesh in 2019 and Bangladesh's third largest export market.