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Dhaka Tribune

RMG exports to Chile may boost

Update : 29 Oct 2013, 05:00 AM

Bangladesh sees a great potential to export RMG products to Chile as the Latin American country has recently provided some least developed countries including Bangladesh with duty- and quota-free access to their market.

In the fiscal 2012-2013, Bangladesh exported to the country goods worth US$30.37m, 93% or $28.26m of which accounted for the apparel items, Export Promotion Bureau (EPB) data shows.

Other items exported to Chile are jute yarn, jute fabrics, foot wears, caps and pharmaceuticals products.   

“It [DFQF] will definitely help increase our exports as there is huge demand for Bangladeshi products, especially RMG, pharmaceuticals, ceramics and jute,” EPB Vice Chairman Shubhashish Bose told Dhaka Tribune yesterday. “We went there with a mission when some of our pharmaceutical companies have got registered with Chile. Bangladesh would be able to export a large volume of medicine after the process is completed.”  

On September 16, the finance ministry of Chile issued a circular saying customs duty had been fixed at zero on the imported products originated from the least developed countries.

“The government of Chile has allowed duty-free and quota-free access of the products from the least developed countries, including Bangladesh,” said Commerce Secretary Mahbub Ahmed. “Our embassy in Geneva has informed us about the matter today (Saturday).” “It is a good sign we are getting new destination for our products,” said a high official of EPB.

“It’s a good initiative for Bangladesh and it would expand market accessibility,” said Mustafizur Rahman, executive director of Centre for Policy Dialogue (CPD). “If we can enter the market of Chile using the zero tariff opportunity, it would help familiarise our products to their neighboring countries too.”

To enhance competiveness, he said: “We have to reduce transport cost as the country import products from the neighbouring country.”

The zero tariff access to Chile is a great opportunity for Bangladesh RMG sector as it would help expand our dependency on certain market, said Abdus Salam Murshedy, President of Exporters Association of Bangladesh (EAB). 

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