Faruque Hassan, the President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), has expressed that the newly introduced ‘Developing Countries Trading Scheme (DCTS)’ holds the potential to enhance Bangladesh’s integration into the global economy.
This scheme is poised to foster stronger trade and investment partnerships with the United Kingdom, he felt.
In a letter addressed to BGMEA members, Faruque Hassan highlighted the ongoing efforts of the BGMEA in the realm of market access through its apparel diplomacy initiative. He noted that the DCTS scheme had undergone a thorough consultation process involving various stakeholders.
The United Kingdom stands as Bangladesh’s third-largest export destination. Beyond the UK, Faruque Hassan also mentioned successful strides in securing favourable market access outcomes in Canada and Australia.
Regarding the export of readymade garment (RMG) products, he reported that Bangladesh had exported US $ 5.02 billion worth of clothing to the UK in the last fiscal year 2022-23, demonstrating an impressive 11.78 per cent year-over-year growth from the US $ 4.50 billion recorded in FY 2021-22.
Furthermore, during the January-July period of 2023, RMG exports to the UK reached US $ 3.11 billion, a 14.11 per cent increase from the US $ 2.72 billion recorded during the same period in 2022.
Faruque Hassan expressed gratitude to the British Government for its positive consideration of issues relevant to their trade.
Bharat Tex Special Report 2026 
