Sunday, 17 October, 2021

BGMEA seeks EU trade benefits for 12 more years

  • Special Correspondent
  • 14 October, 2021 12:00 AM
  • Print news
BGMEA seeks EU trade benefits for 12 more years

Bangladesh Garment Manufacturers and Exporters Association urged the European Union to continue providing its trade facilities for Bangladesh for 12 years after the country's LDC graduation in 2026.

The extension will help Bangladesh make a smooth transition from being the least developed country (LDC).

It will also prepare the country better to face the post-graduation challenges, BGMEA president Faruque Hassan.

He said this during a meeting with EU Ambassador to Bangladesh Charles Whiteley as the latter paid a courtesy.

The meeting was held at the BGMEA office in Gulshan in Dhaka Wednesday.

BGMEA vice-president Miran Ali was also present at the meeting.  Faruque Hassan apprised the newly appointed EU Ambassador of the present situation of Bangladesh’s readymade garment industry, its challenges, opportunities and future priorities.

He also shared the impressive achievements of the industry in workplace safety, environmental sustainability and workers’ wellbeing.

He expressed gratitude to the EU for its move to remove 7.4-percent import-share threshold from the GSP-plus vulnerability criteria.

BGMEA president said the step will pave the way for Bangladesh to apply for GSP-plus benefit after its LDC graduation.

He also hoped the EU will continue to provide its friendly supports and cooperation to Bangladesh, especially for the the RMG industry, the country’s key foreign currency earner.

BGMEA president also sought EU cooperation in further development of the BGMEA University of Fashion and Technology (BUFT) for higher studies in textile, apparel, fashion and business through collaboration with the leading EU universities.