BGMEA urges EU to continue support for Bangladesh’s sustainable economic growth

Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), today asked the European Union (EU) to continue assisting Bangladesh in consolidating its economic growth momentum in the coming days.

According to a news release, he made the call during a meeting with Charles Whiteley, Ambassador and Head of Delegation of the European Union to Bangladesh, at the BGMEA Complex in Uttara in the city.

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Dr Bernd Spanier, Deputy Head of Mission, 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.

The discussion focused on bilateral trade, Bangladesh’s graduation from the LDC category, the potential consequences for the country’s trade and economy, and Bangladesh-EU relations in the post-LDC era.

During the conference, Faruque Hassan stated that Bangladesh has achieved amazing socioeconomic development over the last few decades and is now working to sustain that growth.

As Bangladesh’s greatest trading and development partner, the EU’s support and cooperation are critical to its long-term growth, he said.

The BGMEA President emphasized the importance of the EU’s sustained assistance to Bangladesh in achieving a sustainable and smooth transition from LDC status.

He encouraged the EU, through the Ambassador, to extend the GSP transition time from three to six years in order for Bangladesh to graduate smoothly.

He stated that the extension would assist Bangladesh cope better with impending problems in the post-LDC era and preserve its development advances.

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.

He thanked the EU for granting Bangladesh duty-free access to the European market, adding the apparel industry has benefited greatly from the GSP scheme’s trade preferences.

The growth of the industry has had a significant impact on the lives of millions of people, primarily women in Bangladesh.

The BGMEA President informed EU Ambassador Charles Whiteley of Bangladesh’s garment industry’s significant advances in workplace safety, environmental sustainability, and employees’ rights and well-being.

The RMG industry of Bangladesh is strongly focusing on the transition towards circular economy while putting efforts to strengthen human rights and environmental due diligence.

BGMEA in collaboration with GIZ has set up a Responsible Business Hub to raise awareness and provide guidance to manufacturers on the standards and requirements of human rights and environmental due diligence, he said.

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