Bangladesh has sought duty-free, quota-free (DFQF) market access to the United Arab Emirates (UAE) and other countries the Gulf Cooperation Council (GCC), reports BSS.

The request was made during the 4th Bangladesh-UAE Joint Commission meeting held in Abu Dhabi February 5-6. State Minister for Finance and Planning MA Mannan and UAE State Minister for Foreign Affairs Dr Anwar Gargash led their respective sides in the meet.

“Bangladesh made the request to UAE as it has been enjoying the duty free and quota free facility in over 38 countries including in EU and Australia,” an official at the Economic Relations Division (ERD) told the news agency.

In response, the official said, the UAE told Bangladesh to send a proposal to the GCC secretariat through diplomatic channels while seeking UAE support in this regard.

During the meeting, both sides agreed to activate the MoU and establish a Joint Business Council in order to facilitate exchange of business delegations between the two countries and increase the volume of trade.

Asked about the outcome of the Joint Commission meet, State Minister for Finance and Planning MA Mannan told  the news agency  that both the countries have agreed to further boost the two-way trade volume through addressing any barrier if arises.

He also expressed his optimism that UAE would extend support to Bangladesh for getting duty and quota free access of Bangladeshi products into UAE market.

Both sides recognized ICT as a priority sector where opportunities need to be explored and agreed to explore the opportunities of investing in tourism industry.

The ERD official said both sides agreed to increase the volume of trade through diversification and expansion of trade cooperation between the two countries through the exchange of information on trade and investment related topics on a constant basis, organizing exhibition in

both countries to promote exports and investment programmes.

The Bangladesh side proposed to update the trade agreement signed in 1984 and explore the areas for further cooperation in the field of trade and commerce. In response, UAE requested Bangladesh to send an amended protocol on the agreement for consideration through diplomatic channels.