Bangladesh resolves 48 of 61 EU trade barriers, moves toward FTA talks
Commerce Minister Khandaker
Abdul Muktadir disclosed the developments at a joint press briefing at the
Ministry of Commerce on September 6, read a press release.
EU Ambassador and Head of
Delegation to Bangladesh Michael Miller, Economic and Planning Adviser Rashed
Al Mahmud Titumir, Foreign Affairs State Minister Shama Obaed, Planning State
Minister Zunaid Abdul Rahim Saki, and senior officials from the commerce and
foreign ministries attended the briefing.
The remaining trade
barriers are also being processed for early resolution, the commerce minister
said.
Muktadir said an EU
delegation led by Ambassador Miller had raised a number of specific obstacles
affecting trade with Bangladesh in March, after he assumed office.
Following the concerns,
the National Board of Revenue, Ministry of Agriculture, Ministry of Fisheries
and Livestock, Ministry of Shipping and other relevant agencies worked together
to resolve most of the issues within a short period, he said.
Among the key issues
resolved were complications surrounding the renewal of licenses for wholly
foreign-owned logistics companies, he said.
The annual limit for
importing commercial samples has also been increased to USD 20,000 from USD 10,000.
Bangladesh has
additionally resolved customs valuation complications involving smart cards
used for scanning and ensuring traceability of export products, according to
the minister.
FTA talks may begin this
week
EU Ambassador Michael
Miller said the European Commission had responded positively to Bangladesh's
formal proposal for an FTA and an investment protection agreement.
Joint technical
discussions on the agreements could begin as early as this week once the
necessary approvals from EU member states are completed, he said.
Miller said a
transparent, stable and competitive business environment would be essential for
deepening economic cooperation between Bangladesh and the EU.
He also stressed the
importance of transparency and fair competition in public procurement, saying
both Bangladesh and the EU would benefit from a procurement process that
ensures fair competition.
The EU envoy also
expressed optimism that negotiations over Bangladesh's possible purchase of
Airbus aircraft would move forward quickly as part of efforts to expand
aviation and trade cooperation between Bangladesh and the EU.
Bangladesh seeks EU
support on LDC graduation
The commerce minister
also sought stronger EU support for Bangladesh's proposal to defer its
graduation from the UN's Least Developed Country (LDC) category by three years.
He said the
recommendations of the UN Committee for Development Policy and the Economic and
Social Council have been positive on the matter.
The issue is expected to
be placed for a final decision at the 81st session of the UN General Assembly,
he said, adding that strong support from the EU would play an important role
for Bangladesh.
Imports based on national
interest
Responding to a question
about imports from the United States, Muktadir said Bangladesh makes import
decisions based on national interests, economic rationale and public needs.
For government purchases
of LNG and food grains, the government procurement committee considers
competitive prices, product quality and wastage before approving purchases, he
said.
“Bangladesh's trade
policy is not driven by the influence of any particular country,” the minister
said, adding that the country's economic interests and the welfare of its
people remain the key considerations behind such decisions.
The latest developments are expected to create new opportunities for Bangladesh's export sector, particularly the readymade garment, agro-processing and pharmaceutical industries, while stronger trade ties could also encourage greater bilateral investment and technology cooperation.
