EU-Bangladesh Business Council in the offing

Bangladesh is set to launch a joint business council with the European Union (EU) next year in line with an EU proposal to boost further the country’s trade links with its member countries, Commerce Minister Tofail Ahmed told reporters at the Secretariat yesterday.
“The business council will comprise representatives of 25 EU members and leaders of our different business chambers like Federation of Bangladesh Chamber of Commerce and Industries (FBCCI), Chittagong Chambers of Commerce and Industries (CCCI), Dhaka Chambers of Commerce and Industries (DCCI),” Tofail said while talking with the reporters after a meeting with an EU envoy at his office.
Expressing satisfaction over his discussion with the commerce minister, the EU envoy said the joint business council will be a successful one in boosting trade and investment between Bangladesh and the EU.
Tofail said the proposed council would work for removing tariff and non-tariff barriers for Bangladesh products in EU markets and take initiative to increase European investments in Bangladesh’s various sectors like telecommunication, refinery and a satellite programme while its first meeting would be held in February, 2016.
Tofail appreciated EU for providing Bangladesh the opportunity to export all types of products in its markets excepting weapons.
EU earlier proposed formation of the council while the minister came up with the announcement yesterday as both sides agreed to launch the platform when EU ambassador in Dhaka Pierre Mayaudon called on him along with a senior EU diplomat.
Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), Dhaka Chamber of Commerce and Industry (DCCI), Chittagong Chamber of Commerce and Industry (CCCI), Metropolitan Chamber of Commerce and Industry (MCCI), Bangladesh Garments Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) would be members of the council on behalf of Bangladesh.
Mayaudon, the spokesman appreciated Bangladesh’s GDP growth rate saying it created grounds for the proposed council to further increase the trade ties between EU nations and Bangladesh.
Commerce minister said EU is the major trade partner of Bangladesh. The commerce minister also said that Bangladesh exported goods worth US$ 17.04 billion to the EU market last year. If there had been no devaluation of Euro, the amount could have exceeded US$ 20 billion.
The Commerce Minister said the existing trade relations will be strengthened further through the formation of the joint business council.
“Our export will be increased and EU investment in Bangladesh will also be increased.” Tofail added that EU wants to increase investment in Bangladesh’s potential areas.

 

EU-Bangladesh Business Council in the offing

Bangladesh is set to launch a joint business council with the European Union (EU) next year in line with an EU proposal to boost further the countrys trade links with its member countries, Commerce Minister Tofail Ahmed told reporters at the Secretariat yesterday. The business council will comprise representatives of 25 EU members and leaders of our different business chambers like Federation of Bangladesh Chamber of Commerce and Industries (FBCCI), Chittagong Chambers of Commerce and Industries (CCCI), Dhaka Chambers of Commerce and Industries (DCCI), Tofail said while talking with the reporters after a meeting with an EU envoy at his office. Expressing satisfaction over his discussion with the commerce minister, the EU envoy said the joint business council will be a successful one in boosting trade and investment between Bangladesh and the EU. Tofail said the proposed council would work for removing tariff and non-tariff barriers for Bangladesh products in EU markets and take initiative to increase European investments in Bangladeshs various sectors like telecommunication, refinery and a satellite programme while its first meeting would be held in February, 2016. Tofail appreciated EU for providing Bangladesh the opportunity to export all types of products in its markets excepting weapons. EU earlier proposed formation of the council while the minister came up with the announcement yesterday as both sides agreed to launch the platform when EU ambassador in Dhaka Pierre Mayaudon called on him along with a senior EU diplomat. Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), Dhaka Chamber of Commerce and Industry (DCCI), Chittagong Chamber of Commerce and Industry (CCCI), Metropolitan Chamber of Commerce and Industry (MCCI), Bangladesh Garments Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) would be members of the council on behalf of Bangladesh. Mayaudon, the spokesman appreciated Bangladeshs GDP growth rate saying it created grounds for the proposed council to further increase the trade ties between EU nations and Bangladesh. Commerce minister said EU is the major trade partner of Bangladesh. The commerce minister also said that Bangladesh exported goods worth US$ 17.04 billion to the EU market last year. If there had been no devaluation of Euro, the amount could have exceeded US$ 20 billion. The Commerce Minister said the existing trade relations will be strengthened further through the formation of the joint business council. Our export will be increased and EU investment in Bangladesh will also be increased. Tofail added that EU wants to increase investment in Bangladeshs potential areas.