A high-level Bangladesh delegation visited Australia's Department of Foreign Affairs and Trade (DFAT) to enhance trade and strategic partnerships. The discussions centered on regional economic engagement, trade facilitation, and industrial cooperation. Bangladesh seeks Australia's support for its accession to the Regional Comprehensive Economic Partnership (RCEP) and an extension of its transition period following graduation from the Least Developed Country (LDC) category. The delegation also proposed a bilateral Free Trade Agreement (FTA) and explored new areas of cooperation, including the use of Australian wool and cotton in Bangladesh's garment industry.
Key Discussions and Proposals
Led by Commerce Secretary Ataur Rahman Khan, the Bangladesh delegation met with DFAT officials to discuss three key issues. Bangladesh emphasized the importance of joining RCEP, having already submitted the accession questionnaire and begun aligning its laws with RCEP requirements. The country sought Australia's support and sponsorship, given Australia's founding membership in RCEP.
LDC Graduation and Trade Cooperation
Regarding LDC graduation, Bangladesh requested an extension of its transition period until November 2029, citing global economic challenges. The UN Committee for Development Policy has recommended this extension, with a final decision expected at the UN General Assembly in September. Bangladesh thanked Australia for maintaining duty-free and quota-free market access post-graduation.
Proposed FTA and New Cooperation Areas
Bangladesh proposed a bilateral FTA with Australia, which will consult stakeholders to determine the next steps. The discussions also identified potential cooperation in clean energy technology, grid modernization, and workforce development through partnerships with Australian technical and vocational education and training (TVET) institutions. Bangladesh highlighted the potential for using Australian wool and cotton in its globally competitive apparel industry.
