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Bangladesh urges EU to continue trade benefits post LDC graduation


Bangladesh Commerce Minister Tipu Munshi has urged European Union to continue to support its trade benefits for 12 years after the country's graduates from the least-developed countries (LDCs) category. Bangladesh is negotiating with the EU to extend duty benefits for another 12 years post LDC graduation. The EU set to leave the LDC group to become a developing nation in 2026. Munshi says, Bangladesh's position in the global apparel market is strong. The garment industry has performed well with assistance from the government during the pandemic, he adds.

The government also supported the garment industry through stimulus packages, facilitating payment of salaries and wages to workers during the pandemic when the sector was severely affected, he adds.

Rensje Teerink, EU’S outgoing ambassador to Bangladesh assured Munshi of the EU's continued support to Bangladesh in trade.