EU to raise TRTA to 2b euros by 2010
Monday, 18 June 2007
DU Correspondent
Ambassador of the European Commission (EC) to Bangladesh Stefan Frowein Sunday said the European Union (EU) would raise its trade related technical assistance (TRTA) to 2.0 billion euros by 2010 for Bangladesh to enable the country face various challenges in securing its future prosperity.
He gave the assurance while addressing a seminar on 'Maximising the potential of Bangladesh's exports to the EU' organised by the Institute of Business Administration (IBA) of Dhaka University.
DU Vice-Chancellor Prof SMA Faiz attended the function as the chief guest. First Secretary of the EC to Bangladesh Charles Whiteley and Economic Affairs Officer of the EC Rubayat Jesmin presented two papers showing Bangladesh's comparative export earnings from the EU. IBA Director Dr Ziaul Haq Mamun presided over the function.
Stefan Frowein said the EU has already earmarked about 40 million euros for economic and trade development of Bangladesh for the period of 2007-10.
"Dependence on one commodity (readymade garment), failure to optimise the 'everything but arms' (EBA) initiative, non-optimal share of leather market, declining share of jute and jute goods and embedded shortcomings are the key weaknesses for the potentials of Bangladesh's export to the EU market", Frowein said.
Terming cheap labour, special facilities provided in the export processing zones (EPZ) of Bangladesh, general system of preferences (GSP) facility as positive aspects, Frowein said Bangladesh should improve its social corporate responsibility to bring diversification in its export portfolio.
Ambassador of the European Commission (EC) to Bangladesh Stefan Frowein Sunday said the European Union (EU) would raise its trade related technical assistance (TRTA) to 2.0 billion euros by 2010 for Bangladesh to enable the country face various challenges in securing its future prosperity.
He gave the assurance while addressing a seminar on 'Maximising the potential of Bangladesh's exports to the EU' organised by the Institute of Business Administration (IBA) of Dhaka University.
DU Vice-Chancellor Prof SMA Faiz attended the function as the chief guest. First Secretary of the EC to Bangladesh Charles Whiteley and Economic Affairs Officer of the EC Rubayat Jesmin presented two papers showing Bangladesh's comparative export earnings from the EU. IBA Director Dr Ziaul Haq Mamun presided over the function.
Stefan Frowein said the EU has already earmarked about 40 million euros for economic and trade development of Bangladesh for the period of 2007-10.
"Dependence on one commodity (readymade garment), failure to optimise the 'everything but arms' (EBA) initiative, non-optimal share of leather market, declining share of jute and jute goods and embedded shortcomings are the key weaknesses for the potentials of Bangladesh's export to the EU market", Frowein said.
Terming cheap labour, special facilities provided in the export processing zones (EPZ) of Bangladesh, general system of preferences (GSP) facility as positive aspects, Frowein said Bangladesh should improve its social corporate responsibility to bring diversification in its export portfolio.