British high commissioner to Bangladesh Sarah Cooke on Sunday said that Bangladesh must diversify its exportable goods beyond readymade garment to safeguard its export market following the country’s graduation from LDC status.

She made the remark during a meeting with Dhaka Chamber of Commerce and Industry president Ashraf Ahmed held at DCCI Gulshan Centre.

Highlighting Bangladesh’s significant economic progress over the past decade the envoy expressed the UK’s keen interest in collaborating with Bangladesh on economic development and climate change issues, according to a press release issued by the DCCI.

The high commissioner reaffirmed the UK’s commitment to supporting Bangladesh’s successful graduation from the least developed country status to a middle-income country, the release said.

Cooke expressed optimism about the acceleration of bilateral trade and exports between the UK and Bangladesh in the future.

She also emphasised the need for Bangladesh to increase its tax-GDP ratio and highlighted the potential for Bangladeshi exporters in agriculture, seafood, leather goods, light engineering, and RMG in the UK market.

The envoy underscored the importance of producing quality products meeting international standards to seize opportunities in the international market.

Cooke extended an invitation to Bangladeshi business delegations to visit the UK to enhance connectivity and strengthen trade and investment relations, DCCI release mentioned.

DCCI President Ashraf stated that over 94 per cent of Bangladesh’s exports to the UK are concentrated in RMG products.

He sees bright potential for economic partnership between the UK and Bangladesh in finance, healthcare, Fin-tech, tourism, and education sectors.

Ashraf emphasized the need for Bangladesh and the UK to initiate and expand government-to-government discussions to boost bilateral trade and investment in the post-LDC era.

These discussions should reflect new priorities arising from Bangladesh’s economic transition, DCCI president said.

He also mentioned that investments from the UK into Bangladesh and private sector connectivity between the two countries required renewed focus.

DCCI Vice-President Md Junaed Ibna Ali and members of the Board of Directors were also present at the meeting.