Bangladesh : Bangladesh on track to receive EU GSP Plus status

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Bangladesh on track to receive EU GSP Plus status

17
Nov '16

Once Bangladesh graduates to the developing country bracket in 2021, the country is on track to receive the GSP Plus status from the European Union (EU), but in the process will lose the zero duty benefits in exports to the region. As a least developed country, Bangladesh has been enjoying zero duty privilege in its exports to the EU since 1971.

“The GSP Plus scheme will be applicable for Bangladesh in 2021, for which the country will have to fulfil some conditions including improved labour rights, strengthening workplace safety, reduction of corruption and saving the environment,” Bangladeshi media reported.

These are some of the main conditions which the country needs to fulfil to receive the GSP Plus status from the EU, to which it exports 60 per cent of its apparel exports.

At a joint press briefing with the visiting EU trade delegation, Siddiqur Rahman, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said, “Bangladesh's claim on the EU GSP Plus status will be better after 2017, once all apparel production factories complete remediation works.” (AR)

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