EU points to BD business hurdles

Top diplomats of the Dhaka missions of European Union (EU) member states on Wednesday discussed difficulties to develop trade and investment in Bangladesh.

euThey raised the issues of businesses at the newly established European Union Business Council Bangladesh, which held its first meeting in Dhaka on Wednesday, according to an official press release.

The concerns and suggestions of the council will be shared with government representatives at the meeting of the trade sub-group of the EU-Bangladesh Joint Commission scheduled to be in Dhaka on 27 February.

The business council has been formed to identify obstacles to trade and investment between the EU and Bangladesh.

It is also aimed at providing support to the EU in its discussions with the Bangladesh government and other stakeholders on the ways and means to strengthen the economic relations.

Presided over by the EU ambassador to Bangladesh, Pierre Mayaudon, the first meeting was attended by all eight ambassadors of the EU member states based in Dhaka or their chargés d’affaires and trade counsellors, as well as representatives from the bilateral chambers of commerce.

The EU as a single market of 28 countries is the world’s largest trading partner of Bangladesh, which enjoys a duty-free and quota-free access of its products under the GSP/EBA regime.

However, the press release said, “this trading status has yet to develop into a global and matured economic relation.”

The business council is expected to complement bilateral activities of the EU member countries and their chambers of commerce that are engaging in trade promotion.

-Prothom Alo