No-deal Brexit, Europe's EBA & Bangladesh: Hitting home, fighting back (The Financial Express)

From the article:

Bangladesh stands to become the worst-hit less developed countries (LDCs) in a "no-deal" March 29 Brexit outcome. That calculation, made by the Centre for Global Development (CGD), is built upon the European Union's "everything-but-arms" (EBA) trading scheme evaporating for Britain: unless Britain recreates its own LDC trade agreements, with LDC concessions, LDC losses would be staggering. Yet building them involves lengthy negotiations.

Up to 49 LDC exporters to the European Union (EU) receive duty-free and quota-free privileges for almost every product shipped. Since almost two-thirds of Bangladesh's RMG (ready-made garments) exports go to Europe, without Great Britain's (GB's) EBA benefits, Bangladesh stands to lose $4.0 billion, according to the CGD forecast. For a country borrowing heavily and relying increasingly on exports and remittances to pay for its ambitious (but critically needed) infrastructural megaprojects, that matters. With a Brexit deal, Bangladesh would remain largely unaffected.

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