Notwithstanding the global economic downturn, Australia as an export market continues to gain prominence for Bangladesh even as it turns into a US $ 12 billion export destination for the latter.
This is as per reports, which citing data from Bangladesh’s Export Promotion Bureau (EPB), underlined Bangladesh earned US $ 1.05 billion from Australia in the first ten months of the fiscal year 2022-23, posting a 34.3 per cent year-on-year growth.
Meanwhile, speaking to the media, Chairman of Research and Policy Integration for Development (RAPID) Mohammad Abdur Razzaque who opined this has happened because duty-free market access to Australia will continue after Bangladesh’s graduation from LDC status in 2026 even as he underlined Bangladesh has been able to gain the confidence of Australian importers thanks to long-term policy declaration.
That’s why they are also focusing on Bangladesh for more apparel sourcing, reportedly claimed Mohammad Abdur Razzaque even as industry insiders attributed the same to product diversification, duty-free market access, and China-Australia geopolitical conflict.
