Tofail for forming JEC to boost bilateral trade with UK after Brexit | daily-sun.com

Tofail for forming JEC to boost bilateral trade with UK after Brexit

Sun Online Desk     13th July, 2017 09:27:07 printer

Tofail for forming JEC to boost bilateral trade with UK after Brexit

Commerce Minister Tofail Ahmed proposed constitution of Joint Economic Commission (JEC) or signing of a trade cooperation deal for boosting further the trade and economic cooperation between Britain and Bangladesh in the post Brexit period.

 

Terming the United Kingdom (UK) as an important trade and development partner of Bangladesh, Tofail said Bangladesh's export to the United Kingdom (UK) will increases significantly if barriers like Sanitary and Phytosanitary (SPS) and Technical Barriers to Trade (TBT) are removed, reports BSS.

 

The commerce minister said this during a meeting with Minister of State at the Department for International Development (DFID) of the UK Lord Bates at Geneva, said a media release on Thursday.

 

Tofail Ahmed attended the Aid for Trade Global Review-2017 held in Geneva on July 12.

 

He said the UK is the third largest export destination of Bangladesh as it exports products worth US$4.0 billion annually. The UK is also the second largest investing country in Bangladesh as 15.26 percent of its total Foreign Direct Investment (DFI) was from the UK.

 

Tofail Ahmed thanked the UK for its decision that Brexit would not bring any change in trade relations between the UN and LDCs including Bangladesh.

 

The commerce minister also held meeting separately with director general of World Trade Organization (WTO) Roberto Azevedo, secretary general of the United Nations Conference on Trade and Development (UNCTAD) Mukhisa Kituyi and executive director of International Trade Centre (ITC) Ms Arancha Gonzalez.

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