Exports to UK will not be hampered for Brexit

Bangladesh's export to the UK will not suffer any adverse effect of Brexit, the British government has assured Finance Minister AMA Muhith.

The assurance came from Lord Bates, the state minister for international development for the UK, who is visiting Bangladesh. Lord Bates met with Muhith at his Economic Relations Division office yesterday.

After the meeting the finance minister told reporters that Lord Bates informed him that there was no possibility of any negative impact of Brexit on export from Bangladesh.

“I think the export of Bangladeshi goods to the UK will increase,” Muhith said.

The finance minister said he presented some problems to the UK minister, with one of them being the declining British assistance.

Muhith said Lord Bates told him that the reason for the declining British aid was that Bangladesh was doing well on its own.

“I said, the decline is very steep. Such a steep fall is not desirable,” the finance minister said.

The UK assistance to Bangladesh comes in the form of grant.  About 8 to 10 years ago, the amount was £231 million, which is now £100 million.

The finance minister said Lord Bates praised Bangladesh for its huge development and enquired how it happened.

“I explained the factors behind Bangladesh's development. One of those is poverty alleviation,” Muhith added.