EU to give Tk 1.40b to help Bangladesh's exports
Thursday, 11 February 2010
FE Report
The European Union (EU) will give Tk 1.40 billion to help Bangladesh's exports.
The EU and the government of Bangladesh signed an agreement for strengthening Bangladesh's export sector, the EU said in a press release Wednesday
This will give a much-needed boost to Bangladesh's competitiveness, as it comes at a time when Bangladesh's exports have been posting declines across the board.
The Better Work and Standards Programme project known as BEST will last for five years and receive 15 million euro (some Tk 1.40 billion) from the EU. The government of Bangladesh will contribute five million euro, with a further 1.9 million euro expected to come from GTZ and UNIDO.
The project will help to reform the Bangladesh Standards and Testing Institute, bringing it up to international norms, improve official controls on fisheries products to meet international requirements, strengthen the textile sector through improvements in workers health and safety.
Dr. Stefan Frowein, EU Ambassador and the Head of the Delegation said: "This project should allow Bangladesh to improve its competitiveness and should benefit the people of Bangladesh by helping develop the infrastructure needed for safer food and better-quality products."
The European Union, UNIDO and GTZ formulated the programme in close cooperation with the Government of Bangladesh as well as other stakeholders.
The European Union (EU) will give Tk 1.40 billion to help Bangladesh's exports.
The EU and the government of Bangladesh signed an agreement for strengthening Bangladesh's export sector, the EU said in a press release Wednesday
This will give a much-needed boost to Bangladesh's competitiveness, as it comes at a time when Bangladesh's exports have been posting declines across the board.
The Better Work and Standards Programme project known as BEST will last for five years and receive 15 million euro (some Tk 1.40 billion) from the EU. The government of Bangladesh will contribute five million euro, with a further 1.9 million euro expected to come from GTZ and UNIDO.
The project will help to reform the Bangladesh Standards and Testing Institute, bringing it up to international norms, improve official controls on fisheries products to meet international requirements, strengthen the textile sector through improvements in workers health and safety.
Dr. Stefan Frowein, EU Ambassador and the Head of the Delegation said: "This project should allow Bangladesh to improve its competitiveness and should benefit the people of Bangladesh by helping develop the infrastructure needed for safer food and better-quality products."
The European Union, UNIDO and GTZ formulated the programme in close cooperation with the Government of Bangladesh as well as other stakeholders.