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LDC status helps boost garment exports to EU
28
Feb '11
A 37.69 percent rise has been witnessed in issuance of number of certificates to earn duty free benefits on garment item exports to the European nations, during the month of January this year, as against during the corresponding period last year.

Issuance of such certificates serves to be a part of procedure under the Generalised System of Preferences granted to the least developed countries (LDCs) by the developed nations.

Figures reveal that, as against 24,073 certificates issued during January 2010, the state-run Export Promotion Bureau (EPB) issued 33,148 such certificates during January this year.

This rise in the issuance of number of certificates is mainly attributable to the soaring demand from the EU countries under the new rules.

According to Jalal Ahmed, Vice-Chairman of EPB, this rise in issuance of certificates happened mainly on the back of the EU relaxing its Rules of Origin (RoO) since January 1, 2011. He said that, considerable rise in the value and volume of exports was noticed during the period.

Bangladesh with its LDC status presently enjoys either zero-duty benefit for all categories of goods except arms (EBA) or duty preference for certain products or lower duty for exports to 32 countries.

Fibre2fashion News Desk - India

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