Bangladesh advances reforms for future EU free trade agreement.
Commerce Minister Khandakar Abdul Muktadir today
said the government is working sincerely to address the European Union's
concerns, improve the investment climate, and remove trade barriers as
Bangladesh prepares for a future Free Trade Agreement (FTA) with the EU and
its graduation from the Least Developed Country (LDC) category.
He made the remarks during a meeting with EU Ambassador to Bangladesh Michael
Miller at the Planning Commission in Agargaon, where the two sides discussed
strengthening bilateral trade, increasing investment, removing non-tariff
barriers (NTBs), and advancing preparations for a Bangladesh-EU FTA.
The government has already made significant progress in addressing issues
raised by the EU and is committed to fulfilling all international
obligations, the minister said.
"The government considers all concerns and expectations of the EU with great
importance, and we are working to resolve them one by one," he said.
Muktadir said the government is creating a more conducive environment for
foreign investment by reducing trade barriers and strengthening international
confidence in Bangladesh's economy.
He expressed optimism that ongoing reforms would help establish a favorable
investment climate, resolve energy-related challenges, eliminate trade
obstacles, and improve the efficiency of state-owned industries through
private sector management, placing the country's economy on a stronger
footing.
The Commerce Minister also highlighted the importance of close cooperation
with the European Union to ensure a smooth transition in the post-LDC period
and to pave the way for a comprehensive Bangladesh-EU Free Trade Agreement.
During the meeting, EU Ambassador Michael Miller said the European Union is
ready to begin exploratory discussions on an FTA with Bangladesh and has
already submitted a formal proposal to the government.
He emphasized the need for timely reforms, removal of non-tariff barriers,
and further improvements to the business environment to facilitate progress
in future negotiations.
Senior government officials, including Internal Resources Division Secretary
Md. Shahriar Kader Siddiky, Commerce Secretary Md. Ataur Rahman Khan, and
Additional Secretary of the Ministry of Commerce Ayesha Akhter, were present
at the meeting.
