South Korea to consider duty-free quota-free market access to Bangladesh

by Apparel Resources News-Desk

15-July-2019  |  1 min read

Lee Nak-yon
Image Courtesy: dhakatribune.com

After registering 21.77 per cent apparel export growth to non-traditional markets in the just concluded fiscal year, Bangladesh’s flourishing readymade garment industry seems to have one more reason to rejoice after South Korea has reportedly agreed to consider giving duty-free quota-free market access to all of Bangladeshi products, which if materialised, would open new growth avenues for the country’s garment makers.

This development followed the recent meeting between Bangladesh Prime Minister Sheikh Hasina and her South Korean counterpart Lee Nak-yon in Dhaka.

As per media reports, during the meeting Sheikh Hasina requested South Korea to consider allowing duty-free quota-free market access for all of Bangladeshi products without any exception to which Lee Nak-yon reciprocated saying that his country would consider the same.

Recounting Korea’s contribution in developing Bangladesh’s readymade garment sector, Hasina also urged South Korea to import woven garments, knitwear, leather goods, alongside other products like ceramic items, pharmaceuticals, frozen food, and jute and jute products from Bangladesh.

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