‘Brexit to have impact on Bangladesh economy’

Online Desk | Update:

Exit of the United Kingdom form the European Union (EU) might have impact on Bangladesh’s economic growth, the Dhaka Chamber of Commerce and Industry (DCCI) said in a statement on Saturday, says news agency UNB.

The business body in the statement said the decision of Brexit from EU apparently emits deep global uncertainty, hurting the attractiveness and growth prospect of the EU as well as heightening global trade, business and investment volatility.

Apparently, the decision will emerge as a new geo-political and geo-economic epoch throughout the globe, it said.

The EU is the largest export market and the UK is the second largest Bangladesh-bound foreign investor and export destination for Bangladesh, worth $3.4 billion, the statement noted.

The jolt from the Brexit may affect Bangladesh, undermining the export growth potential under GSP facility and remittance earning and spill catastrophic impact on the bilateral trade and investment relationship above all growing development cooperation for Bangladesh, it added.

DCCI urged the government to immediately take into account the possible consequences and take precautionary measures to deal with the developments this regard, also to initiate focused bilateral discussion with the UK to find alternative way outs and avoid unforeseen economic menace.

DCCI also urged the government to form a national committee comprising representatives of trade bodies, trade experts, international trade law practitioners, economists, researchers, and representatives from concerned ministries and agencies to observe and report the findings to the government on post-Brexit global economic order.  

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