Bangladesh eyes EPA, FTA with EU

Bangladesh plans to sign an Economic Partnership Agreement (EPA) with the European Union (EU) after completing a feasibility study and reviewing bilateral trade data, as part of its broader goal to eventually move towards a Free Trade Agreement (FTA).

The development was discussed at a meeting between Commerce Adviser S K Bashir Uddin and an EU delegation at the Ministry of Commerce on Sunday. The EU team was led by EU Ambassador to Bangladesh Michael Miller.

"The EU is one of Bangladesh's largest trading partners, with significant potential to expand trade," the adviser said.

"Bangladesh wants to move forward with the implementation of an EPA, and later a FTA, after examining the feasibility of trade opportunities and analysing trade data."

Ambassador Miller noted that the EU remains one of Bangladesh's biggest export destinations, adding that an EPA would further strengthen bilateral trade and investment ties.

He pointed out that there is currently a considerable trade imbalance, as Bangladesh exports far more goods to the EU than it imports. "Both Bangladesh and the EU have the opportunity to grow together by enhancing trade and investment," he said.

The meeting was attended by Commerce Secretary Mahbubur Rahman, the Ambassadors of Spain and Denmark, Deputy Heads of Mission from the French, German, Italian, and Swedish embassies, Italian Embassy official Frederico Zamprelli, and Abu Syed Belal, Trade Adviser of the Bangladesh Delegation to the European Union.

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