BGMEA urges EU to keep facilities duty-free after LDC graduation

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| Updated:
Jun 06, 2022 5:48:49 p.m.


The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the European Union (EU) to maintain GSP facilities for 10-12 years after the country upgrades to developing country status in 2026.

A BGMEA delegation made the call during a meeting with the Parliamentary State Secretary (Deputy Minister) to the Federal Minister for Economic Cooperation and Development in Berlin, Dr B”rbel Kofler on Thursday, BSS reports citing a press release.

Bangladesh’s Ambassador to Germany, Md Mosharraf Hossain Bhuiyan was also present at the meeting held on Sunday.

BGMEA President Faruque Hassan led the team while the other members were Vice President Miran Ali, Directors, Lawyer Vidiya Amrit Khan, Md Imranur Rahman, Neela Hosna Ara and Standing Committee Chairman of the BGMEA on the cell of foreign missions, Shams Mahmud.

During the meeting, the Commercial Counselor of the Bangladesh Embassy in Berlin, Md Saiful Islam was present.

They discussed possible ways to expand Bangladesh’s trade with Germany and further deepen the relationship between the two countries.

They stressed the need for increased cooperation and collaboration between Germany and Bangladesh to unlock trade and investment potentials.

In his speech, BGMEA Chairman, Faruque Hassan, informed that Bangladesh will graduate from LDC to developing country in 2026 and after that, the country will enjoy Generalized System of Preferences (GSP) facilities for three years.

He asked the EU to continue the installations for more than 10 to 12 years.

The Chairman of BGMEA gave an overview of the Bangladesh RMG industry including the current status, opportunities, challenges and future priorities.

Bangladesh’s RMG industry is increasingly focusing on improving its capabilities, including through technology upgrading, innovation and skills development, he said.

He said the industry is also placing greater emphasis on garments made from synthetic fibers to meet growing demand in the global market.

The BGMEA Chairman said that Bangladesh is aiming to increase the share of its garment exports to Germany and accordingly seeks Dr. B”rbel Kofler’s cooperation in this regard.

Calling Germany an invaluable development partner, he said there is potential for cooperation to develop further in the coming years.

During the visit, the BGMEA team also met with the Director General of the German Federal Ministry for Economic Affairs and Climate Action (BMWK), Dominik Zusammenarbeit (GIZ).

They also participated in a roundtable of the Asia Pacific Business Association in Hamburg, Germany.

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