Australia will continue extending zero-duty export benefit to Bangladeshi goods even after the graduation of the south Asian nation from the least developed country (LDC) category in 2026.

Australian Assistant Minister for Trade Senator Tim Ayres gave the assurance in a meeting with Bangladesh High Commissioner to Australia M Allama Siddiki and BGMEA President Faruque Hassan at the Commonwealth Parliamentary Office in Sydney on July 21.

Australia and Bangladesh seek to take the relationship between the two countries to a new height by strengthening partnership and expanding trade and investment in potential areas, according to a statement of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Both sides are also keen to explore opportunities and turn them into reality through collaboration in order to derive reciprocal benefits, according to the statement.

At the meeting, they discussed general trade issues, investment opportunities and areas of collaboration.

They also stressed on the need for finding ways to enhance trade and investment flow for adding dynamism in economic ties.

The issue of Bangladesh's economic development, LDC graduation and its associated challenges and preparations to overcome them were also discussed.

BGMEA President Faruque Hassan sought for the decision of the continuation of duty-free market access in the post-LDC period.

Highlighting the trade potential, Hassan said Bangladesh considers Australia a promising market for apparel exports, especially high-end fashion items.

He also pointed to Bangladesh's interest in enhancing import of cotton and wool from Australia for the garment sector, emphasising the need for enhancing industry connections between Australian exporters of raw materials like cotton, wool and importers and manufacturers in Bangladesh.

It would create a win-win situation for both countries, he further said.

The BGMEA president sought cooperation of Australia in developing knowledge and skills of the students of BGMEA University of Fashion and Technology in textile, apparel, fashion, design and business through collaboration with leading Australian universities and fashion institutes.