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Bangladesh must implement 32 international conventions to access the European Union (EU)'s Generalised Scheme of Preferences Plus (GSP+) after graduating from least - developed - country status, the EU envoy said on Tuesday.
"Access to GSP Plus comes with a long list of requirements -- 32 international conventions related to environmental, labour and human rights. These must be implemented, not just ratified," said Charles Whiteley, ambassador and head of delegation to the EU in Bangladesh.
Mentioning a "huge consumer base" and "unparalleled market access", he said the EU market is important for Bangladesh.
The EU's due diligence law, he added, also holds weight, as it tackles child labour, slavery, labour exploitation, pollution, deforestation and excessive water consumption -- issues of concern not just for the EU but for the world.
Mr Whiteley was speaking at a roundtable discussion on 'Due Diligence Laws' organised by the International Business Forum of Bangladesh (IBFB) in Dhaka. The forum President Humayun Rashid chaired the discussion and made the welcome remarks.
Bangladesh will lose its current duty-free market access to the EU upon graduation in 2026, although it will hold on to the benefit for an extended period until 2029.
On fair prices for Bangladeshi products, Mr Whiteley acknowledged that both suppliers and buyers want to make profits, noting business is not charity.
"They have to negotiate," he commented.
In his keynote presentation, Deputy Chief of the EU delegation to Bangladesh Bernd Spanier recognised the burden of "27 due diligence legislation coming from the EU," a situation he said was "undesirable" for the EU itself and countries like Bangladesh.
However, he mentioned the development of a common EU due diligence law to address multiple audits.
Mr Spanier further said the EU Corporate Sustainability Due Diligence Directive will facilitate supplier-buyer relationships, preventing buyers from shrugging off their responsibilities. This, he said, will ultimately lead to a better understanding of producers' needs and higher prices.
At the event, apparel leaders demanded fair prices and a unified code of conduct, citing the burden of numerous "unnecessary, costly and time-consuming" audit certifications.
Mr Spanier admitted that while supply chains have been critical for growth and development, they are also susceptible to corporate misconduct harming people and the environment.
He noted how multinational companies often exploit cheaper goods and services in global chains but stressed that this should not come at the expense of workers and the planet.
"Poor domestic regulation and a 'race-to-the-bottom' pricing mentality often lead to profit-driven abuses," he said.
"To address this, the EU is creating a unified set of legally binding rules holding companies accountable for supply chain harms to human rights and the environment. The European Parliament and Council recently reached a consensus and it could soon be finalised."
For Bangladesh, Mr Spanier said, the upcoming law presents both opportunity and responsibility. A harmonised EU due diligence law would minimise confusion over responsible business conduct interpretations.
He added that brands will also share responsibility for their suppliers' actions to avoid hefty EU fines, surely driving them towards more compliant partners.
BGMEA President Faruque Hassan explained how the current "duplicative" approach hinders progress and increases compliance costs for manufacturers.
He stressed transparency across the entire supply chain, from design and innovation to gaining greater control and oversight.
Regarding power dynamics, he said, "No Matter how much we talk about ensuring a level playing field, the current market is buyer-driven, leaving manufacturers with little to no scope for intervention."
The BGMEA president called for capacity building among manufacturers to comply with changing laws and regulations. He suggested a shared burden between buyers and manufacturers to achieve this.
However, he noted that the third pillar of the 2013 sustainability compact -- Responsible Business Conduct -- still remains neglected.
"A hand holding approach is needed to ensure sustainability and due diligence within the supply chain," he added.
From the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Executive President Mohammad Hatem also called for a unified code of conduct and ethical or fair product pricing.
He said manufacturers in many cases receive work orders below the production cost, making it difficult to run businesses sustainably.
"Brands and buyers are bloodsuckers of Bangladesh RMG workers," he said.
Bangladesh Textile Mills Association (BTMA) President Md Ali Khokon said they need fair pricing and additional costs (up-charges) to meet all the compliance requirements.