BGMEA seeks EU duty benefit till 12 years after LDC graduation

Thursday, 14 October 2021

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the European Union (EU) to continue its trade benefits for Bangladesh for 12 years after the country's graduation from LDCs in 2026, reports UNB.
The extension will help Bangladesh in making smooth transition from LDC and preparing to face post-graduation challenges, BGMEA President Faruque Hassan said during a meeting with Ambassador of the European Union to Bangladesh Charles Whiteley on Wednesday.
BGMEA Vice President Miran Ali was also present at the meeting.
Faruque apprised the newly appointed EU Ambassado of the present situation of Bangladesh's RMG industry, its challenges, opportunities and future priorities.
He also shared the impressive achievements of the industry in workplace safety, environmental sustainability and workers' wellbeing.
The BGMEA chief thanked the European Union for its move to remove 7.4-per cent import-share threshold from the GSP-plus vulnerability criteria, as the step will pave the way for Bangladesh to apply for GSP-plus benefit after its LDC graduation.
He also hoped the friendly support and cooperation of the European Union to Bangladesh, especially for the RMG industry will continue in the coming days.
The BGMEA president sought cooperation of the EU in developing capacity of the students of BGMEA University of Fashion and Technology (BUFT) in textile, apparel, fashion and business through collaboration with leading EU universities.