Bangladesh seeks 12-year duty-free access to EU after LDC graduation

16 Sep 21 1 min read

Bangladesh commerce minister Tipu Munshi is hopeful that the European Union (EU) will continue its trade benefit for Bangladesh for 12 years after the country's graduation from the grouping of the least-developed countries (LDCs) in 2026. The country is negotiating with the EU for that, he said after recently meeting Rensje Teerink, the outgoing EU ambassador to Bangladesh.

The group of LDCs is also separately lobbying for duty-free EU market access for 12 years after graduation of individual group members.

Other LDCs have assured that they would work with the EU in helping Bangladesh obtain the duty benefit, the minister said in a press release.

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"The efforts to increase trade with the EU will continue from the Bangladesh side," the minister said.

Munshi described Bangladesh's position in the global apparel market as strong, saying the garment industry performed well with assistance from the government during the coronavirus pandemic.

Teerink assured the minister of the EU's continued support to Bangladesh in trade, according to Bangla media reports.

Fibre2Fashion News Desk (DS)

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