Australian High Commissioner Launches Trade Brochure
“Australia- Expanding Your Export Horizons”
“For every country, an active trade policy boosts economic development. As part of Australia’s strategy for maintaining economic success we constantly seek to improve our exports, to develop our competitive edge and to pursue new business opportunities”, Australia’s High Commissioner, HE Douglas Foskett, told business leaders and journalists at the launch of a trade brochure today. He urged Bangladeshi business and exporters to adopt the same approach to explore opportunities in the Australian market.
The brochure, “Australia – Expanding Your Export Horizons”, outlines the duty-free concessions Australia extended to Bangladesh in 2003. The High Commissioner told the audience the brochure aims to encourage Bangladesh exporters to consider Australia as a market for future exports. With information in both English and Bangla, the brochure will be distributed to business associations around Bangladesh, and it also appears on the High Commission website.
In July 2003 the Australian Government granted duty free access to 49 Least Developed Countries (LDC), including Bangladesh. To qualify for duty-free access, manufactured goods must meet the Rules of Origin requirement. Under the package the Australian Government has allowed a very broad definition of local content to assist LDCs meet the Rule of Origin threshold.
“Business linkages continue to be a very important part of our bilateral relationship, and the expansion of two-way trade between Australia and Bangladesh would be a very welcome reflection of the close relations we enjoy”, said the High Commissioner.
In financial year 2005-06 total two-way trade between Australia and Bangladesh amounted to AUD 259 million (approximately USD 202 million).
For further information please contact:
Nawrin Samrina, Senior Political & Economic Research Officer
Australian High Commission.
Tel: 8813105, E-mail: [email protected]
7 MARCH 2007