EU lauds Bangladesh govt’s steps to remove trade barriers

BDApparelNews Desk
28 April 2019  

A moment from the `5th EU-Bangladesh Business Climate Dialogue` held in Dhaka, Bangladesh on April 28, 2019. Photo Courtesy: PID

A moment from the `5th EU-Bangladesh Business Climate Dialogue` held in Dhaka, Bangladesh on April 28, 2019. Photo Courtesy: PID

European Union has appreciated and expressed satisfaction on Bangladesh government’s steps to remove trade barriers curbing the ease of doing business in the country.

Head of European Union’s delegation to Bangladesh, Ambassador Rensje Teerink conveyed the appreciation during the ‘5th European Union-Bangladesh Business Climate Dialogue’ held on April 28, 2019, says a press release of the Ministry of Commerce.

“The Bangladesh Business Climate talks has been successful. We discussed the problems in a friendly atmosphere. We hope trade barriers will not be a problem in Bangladesh in the future. Bangladesh is headed in the right direction,” she said.

According to meeting insiders, private investors of both countries were present during the meeting, who called the attention of the authorities on trade barriers at different levels.

“Bangladesh is pursuing liberal trade policy,” said Commerce Minister Tipu Munshi after the meeting at his ministry office. “Now, trade and investment is much easier in Bangladesh.”

He said, the dialogue identified problems in five sectors including in the sectors of import duties/customs/trade facilitation, financial flows, tax regimes, and license and investment in the service sector within Bangladesh.

“Our joint working groups are working towards solving these problems. We identified several problems in the last four dialogues. We are working towards solving them now. The fifth round of talks were held in a very congenial atmosphere,” he said.

READ MORE: Analysis - Govt focusing on trade, luring FDI

Among others present in the dialogue were Commerce Secretary Md Mofizul Islam, Bangladesh Investment Development Authority’s (BIDA) Executive Chairman Md Aminul Islam, senior officials of the commerce ministry and officials of missions with the European Union.

EUROPE IS PRIORITY EXPORT DESTINATION

Bangladesh is focusing on boosting business with the nations in the European Union, the biggest regional destination for the country’s biggest export product – apparel.

The country’s Ministry of Commerce has asked its commerce councilors appointed in European countries to especially prioritise trade and business and seek out opportunities to expand exports.

READ MORE: Europe is now priority

Currently, Bangladesh enjoys duty-free export to European countries under the ‘Everything But Arms’ pact. The country is trying to convince Europe to maintain the facility even after graduating out of the least developed country (LDC) club.

So far, the response Bangladesh has received is encouraging.

Europe is the biggest export regional destination for Bangladesh with apparel exports dominating the basket. Bangladesh’s regenerated drive towards reaping further business with the region has a key focus on the apparel business.