EU urged to continue support for BD's economic growth

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan urged the European Union (EU) to continue supporting Bangladesh in consolidating its economic growth momentum in the coming days, reports BSS.
He made the call during a meeting with Charles Whiteley, ambassador and head of delegation of the EU to Bangladesh, at the BGMEA Complex in the city on Tuesday.
Deputy Head of Mission Dr Bernd Spanier, BGMEA Senior Vice President SM Mannan (Kochi), Vice President Shahidullah Azim, Vice President Md Nasir Uddin, directors Asif Ashraf and Md Imranur Rahman were also present on the occasion.
The issues of bilateral trade, Bangladesh's graduation from the LDC category, its possible impacts on the country's trade and economy and Bangladesh-EU relations in the post-LDC era were highlighted in the meeting.
During the meeting, Faruque Hassan said Bangladesh has attained remarkable socio-economic development over the past decades and it is now making efforts to sustain it's growth.
As the largest trading and development partner, EU's support and cooperation is immensely important for Bangladesh for its sustainable development, he said.
The BGMEA president particularly reiterated the call for EU's continued support to Bangladesh for a sustainable and smooth transition from the LDC status.
He, through the ambassador, urged the EU to extend the transition period of GSP from the current three years to six years for smooth graduation of Bangladesh.
The extension would help Bangladesh to cope better with the emerging challenges in the post-LDC era and sustain its development strides, he added.
Faruque Hassan also requested the EU to waive the safeguard textile threshold criteria or revising the mechanism for Bangladesh in the proposed GSP scheme for 2024-2034 so that the country could avail the advantages of GSP Plus after its LDC graduation.
Faruque Hassan also gave an overview of the RMG industry, its huge impacts on the socioeconomic development of Bangladesh, particularly its role in poverty alleviation and women empowerment.