B Mirror Report: New Zealand has assured Bangladesh that it will continue to provide duty-free and quota-free (DFQF) market access and other preferential trade facilities even after Bangladesh graduates from the Least Developed Country (LDC) category.

The commitment was conveyed by New Zealand’s Non-Resident High Commissioner to Bangladesh, David Pine, during a meeting with Commerce Minister Khandakar Abdul Muktadir at the ministry’s secretariat office on Sunday.

During the discussions, both sides expressed interest in expanding bilateral trade and investment and explored ways to better utilise existing regional frameworks. They also reviewed the proposed comprehensive bilateral Free Trade Agreement (FTA), which is expected to further strengthen economic cooperation between the two countries.

Commerce Minister Muktadir highlighted that increased investment and job creation are crucial for ensuring a smooth transition out of LDC status. He noted that the government has already undertaken measures to improve the ease of doing business and encouraged New Zealand investors to explore Bangladesh’s high-potential sectors.

He also stressed that Bangladesh will continue to require significant annual investment to maintain its economic growth momentum, regardless of the LDC graduation timeline.

High Commissioner Pine, meanwhile, said that in the current global economic environment, diversification of both import and export markets is essential for mutual benefit. He reiterated New Zealand’s strong interest in maintaining Bangladesh’s existing preferential market access after graduation from the LDC group.

An Additional Secretary from the Commerce Ministry, Ayesha Akther, was also present at the meeting.