Bangladesh expects GSP+ from EU
UNB, Dhaka
The European Union (EU) yesterday expressed their desire to continue working constructively with the government of Bangladesh in creating an environment conducive to do business here.
The EU Heads of Mission said improvement in customs tariffs and procedures will help Bangladesh create a positive investment climate which in turn would contribute to ensuring sustainable economic growth.
The issues were discussed at the 6th plenary of EU-Bangladesh Business Climate Dialogue at the commerce ministry.
Commerce Minister Tipu Munshi chaired the dialogue while it was co-chaired by Secretary Commerce Dr Md Jafar Uddin and EU Ambassador to Bangladesh Rensje Teerink.
The dialogue was attended by all eight EU Heads of Diplomatic Missions in Dhaka - Denmark, France, Germany, Italy, the Netherlands, Spain, Sweden, and the United Kingdom.
The commerce minister said many problems have been solved through discussions after identifying those problems and both sides have been benefited. Its a continuous process.
He said Bangladesh expects the EU will provide GSP+ trade benefits to Bangladesh as it will lose the existing trade benefits after three years of becoming a developed nation.
As a Least Developed Country (LDC), Bangladesh currently enjoys the duty-free access to the European market under the Everything But Arms (EBA) initiative.
GSP+ is a special incentive arrangement for sustainable development and good governance and it grants full removal of tariffs on over 66 per cent of EU tariff lines.
