Mohammad Adbur Razzaque, the chairman of Research and Policy Integration for Development (RAPID) Bangladesh, highlighted the potential repercussions of imposing tariffs on Bangladeshi clothing after its transition from Least Developed Countries (LDC) status.

Speaking at an event recently, Razzaque emphasised Bangladesh’s significant market shares in the apparel sectors of the European Union and the UK, amounting to 22 per cent and 18 per cent, respectively even as he expressed concern that any disruption in Bangladesh’s garment exports could impede an immediate increase in global supply, potentially leading to an escalation in clothing prices worldwide post-LDC graduation.

Presenting a study paper titled Can Bangladesh Absorb LDC Graduation-Induced Tariff Hikes? Evidence Using Product-specific Price Elasticities of Demand and Markups for Apparel Exports to Europe at a seminar organised by RAPID in collaboration with the International Growth Center, Razzaque delved into the intricacies of the situation.