Issues of bilateral trade, graduation from the least developed country (LDC) status, the proposed EU GSP scheme for 2024-2034, its challenges, preparedness to face those and the continuation of the development momentum of Bangladesh were discussed by the delegation led by Mohammad Tofazzel Hossain Miah, principal secretary to the prime minister.
A delegation from Bangladesh visiting Brussels recently urged the EU to consider textile threshold criteria for Bangladesh in the newly proposed generalised scheme of preferences provisions.
Issues of bilateral trade, graduation from the LDC status and the continuation of the development momentum of Bangladesh were discussed by the delegation.
The delegation urged the international organisation to extend the transition period after LDC graduation from three years to six years.
The delegation included Bangladesh Garment Manufacturers and Exporters Association president Faruque Hassan, commerce secretary Tapan Kanti Ghosh, Bangladesh ambassador to Belgium Mahbub Hassan Saleh and former Metropolitan Chamber of Commerce and Industry president Nihad Kabir.
According to the proposed provisions Bangladesh is likely to qualify for GSP Plus after its LDC graduation, but the specified EU safeguards would exclude the country’s clothing exports from any tariff preferences.
The delegation said the country’s apparel sector would not benefit from the GSP+ facility and would lose competitiveness in the EU market, which would hurt the sector, according to Bangladeshi media reports.
The two sides also discussed trade and investment, Everything But Arms (EBA) provision and Bangladesh’s relations with the EU in the post-LDC era.
Fibre2Fashion News Desk (DS)