The Financial Express

Bangladesh to retain EU dury-free facility, says envoy

| Updated: January 12, 2022 11:28:41

Bangladesh to retain EU dury-free facility, says envoy

The European Union assures continuation of the duty-free and quota-free (DFQF) facility for Bangladeshi goods on the EU market even after its LDC graduation, says an official release.

According to a press release issued by the Ministry of Commerce (MoC), Ambassador and Head of Delegation of the European Union (EU) in Bangladesh Charles Whiteley held out the assurance during a meeting with Senior Secretary at the ministry Tapan Kanti Ghosh at his secretariat office on Tuesday.

Bangladesh is on course to graduate from the least-developed country (LDC) status in 2026 -- and get exposed to open competition in its external trade now benefiting from generalised system of preferences or GSP.

"Different bilateral issues have been discussed in the meeting," says the press note, without elaborating.

The EU is a major export destination for the country's apparel items.

Bangladesh is making effort to get the existing trade benefits for the next 6 to 12 years after the LDC graduation.

Bangladesh also enjoys everything but arms (EBA) facility in the European Union in export.

Senior officials of the ministry attended the meeting, among others.

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