STAR BUSINESS REPORT

New Zealand will continue duty-free and preferential market access for Bangladeshi goods after the country graduates from the least developed country (LDC) category, David Pine, New Zealand’s non-resident high commissioner in Dhaka, said yesterday.

New Zealand has been giving special importance to ensuring market access for Bangladeshi goods after the graduation, he said at a meeting with Commerce Minister Khandakar Abdul Muktadir at the secretariat in Dhaka, according to a ministry press statement.

He said that given the current global scenario, export market diversification is important, but so is diversifying import sources, adding that both countries stand to benefit from expanded bilateral trade.

New Zealand goods, he added, are known for reliability, high standards, food safety, and being free of genetically modified organisms, and the country is interested in establishing a stable, long-term trade structure.

Bangladesh exported $99.73 million worth of goods to New Zealand in fiscal year 2024-25, around 90 percent of which were garment items, according to the Export Promotion Bureau. In the July–April period of the current fiscal year, the figure stood at $78.93 million.

Both sides also expressed interest in exploring a trade deal such as a free trade agreement, to boost investment and bilateral trade, states the ministry statement.

Meanwhile, minister Muktadir said employment generation, and rapid growth of investment are important for Bangladesh’s sustainable LDC graduation.

He also noted that it is important to maintain the competitiveness of garment exports and ensure preferential market access for the country’s major apparel items.

The minister also asked the high commissioner to encourage entrepreneurs from his country to choose Bangladesh as an investment destination, as the Bangladesh government has taken many measures to ease doing business.