Now exporters have to fill DCTS form

To get duty-free market access to the United Kingdom (UK), exporters of 60 Least Development Countries (LDCs), including Bangladesh, have to declare the rules of origin on the Developing Countries Trading Scheme (DCTS) form instead of the Generalised System of Preferences (GSP).

Although the UK government has changed its duty-free market access policy, Bangladesh and other LDCs will continue to enjoy all the facilities as they got from the GSP. Besides, Bangladesh will enjoy the facility till 2029, although the country will graduate from LDC status in 2026.

The Export Promotion Bureau (EPB) issued an office order in this regard on May 17 and said that exporters must up load their rules of origin declaration on the export authority’s website who have been exporting goods to the UK market since January this year, as the government nominated them as authority.

The EPB in its order mentioned that the DCTS from is available on the UK government and the EPB websites, and exporters sill and sign is enough on the declaration. EPB will verify the rules of origin declaration.

The UK is one of the Bangladesh’s top export destination countries. Bangladesh is exporting readymade garment, home textile, footwear, fish, creels, and other items to that country. As per the GSP facility, Bangladesh enjoyed duty-free market access for everything, except arms.

Bangladesh exported goods worth $4.43 billion to the UK market in the first 10 months of this fiscal year. The country exported goods worth $4.48 billion in FY22, according to the EPB data.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Vice President Shahidullah Azim told The Business Post that as the UK executed Brexit on February 01, 2020 with the European Union, they are now adopting new policy.

“Exporters have nothing to be worried over the issue. We met the UK high commissioner to Bangladesh who assured us that the UK is always with you and we will enjoy duty-free market access to the country till 2029 as we get from GSP rules.” Last year, the UK government approved the DCTS policy instead of the GSP.

UK’s Secretary of State for the Department for International Trade Anne-Marie Trevelyan announced on May 16 on the government’s official website that the new scheme offers developing countries one of the most generous sets of trading preferences of any country in the world. The policy has been executed from early this year.

The scheme helps the countries diversify their exports and grow their economies while British households and businesses benefit from lower prices and more choice, she said in the statement, adding, “We are using our status as an independent trading nation to go beyond what is offered by the European Union (EU).”