Even as Bangladesh is inching closer towards transitioning from a least developed country, which will come with its own share of challenges, especially for exports as they would tend to lose the duty benefits that they currently enjoy, the garment makers of the country have decided to go all out to avail post-LDC duty benefit even as they have decided to begin lobbying with major trading partners and blocs from next month to win their support, in this regard.
According to media reports, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has underlined this while adding it wants a six-year transition period since apparel exporters are expected to face tough competition in the global markets after losing the duty-free trade benefit.
Reports further added Bangladesh was expected to lose its duty-free market access following LDC graduation even as the European Union and the UK have already announced a three-year transition period to help the country graduate smoothly even as the BGMEA has long been seeking an extension of the transition period.