The DCTS was introduced to extend tariff cuts to developing countries as part of post-Brexit efforts by the British government to set up systems to replace those run by the EU.
Bangladesh enjoys free market access as a least developed country under DCTS, according to Mohammad Abdur Razzaque, chairman of the Research and Policy Integration for Development (RAPID), a think tank.
"Even after Bangladesh graduates from the LDC category in 2026, the country will continue enjoying the same benefits until November 23, 2029," he was quoted as saying at the consultation by a Bangladesh newspaper.
DCTS offers relaxed and liberal product-specific rules, extends cumulation facilities and allows inputs to be imported from 95 countries for final products that are eligible for duty-free access, Razzaque added.
The consultation was organised by the RAPID in collaboration with the UK's Foreign, Commonwealth and Development Office.
RAPID has identified several potential export sectors for the UK market. Light engineering products are among the most prominent products that have yet to unleash their export potential.
ALCHEMPro News Desk (DS)
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