Economic Reporter :
The government is going to form Business Council with the European Union (EU) next year with a view to boosting trade and business of the country.
Commerce Minister Tofail Ahmed told this to reporters after a meeting with the EU envoy to Bangladesh Pierre Mayaudon at his office on Monday.
The leaders of different business chambers and the EU member will be the members of the business council, he said.
The council will work for removing tariff and non-tariff barriers for Bangladeshi products in EU market as well as increasing EU investment in various sectors, including telecommunication, refinery and satellite programme.
The minister appreciated the EU for providing Bangladesh to export all types of products in their market excepting weapons.
In this backdrop, the EU Ambassador Pierre Mayaudon said, Bangladesh would have to meet four conditions to get GSP and other trade facilities.
He said this while addressing a seminar titled “Bangladesh-EU Trade Ties: Prospects and Challenges” at the National Press Club in the city on Sunday.
The conditions include ensuring human and labour rights and maintaining environmental and good governance principles.
The per capita income of Bangladesh is now $1,314. Bangladesh must continue a per capita income above $1,398 for four consecutive years in order to achieve middle-income country status, said the EU envoy.
Replying to a question the envoy said, the EU would provide support research and development, technology and academic assistance to explore the country’s emerging blue economy. The vision of Digital Bangladesh and proper exploration of blue economy will help Bangladesh achieve middle-income status, he said.
The envoy added the EU has identified three main objectives — implementation of the sustainability compact, improving business climate and accompanying Bangladesh in climbing value chain.
The government is going to form Business Council with the European Union (EU) next year with a view to boosting trade and business of the country.
Commerce Minister Tofail Ahmed told this to reporters after a meeting with the EU envoy to Bangladesh Pierre Mayaudon at his office on Monday.
The leaders of different business chambers and the EU member will be the members of the business council, he said.
The council will work for removing tariff and non-tariff barriers for Bangladeshi products in EU market as well as increasing EU investment in various sectors, including telecommunication, refinery and satellite programme.
The minister appreciated the EU for providing Bangladesh to export all types of products in their market excepting weapons.
In this backdrop, the EU Ambassador Pierre Mayaudon said, Bangladesh would have to meet four conditions to get GSP and other trade facilities.
He said this while addressing a seminar titled “Bangladesh-EU Trade Ties: Prospects and Challenges” at the National Press Club in the city on Sunday.
The conditions include ensuring human and labour rights and maintaining environmental and good governance principles.
The per capita income of Bangladesh is now $1,314. Bangladesh must continue a per capita income above $1,398 for four consecutive years in order to achieve middle-income country status, said the EU envoy.
Replying to a question the envoy said, the EU would provide support research and development, technology and academic assistance to explore the country’s emerging blue economy. The vision of Digital Bangladesh and proper exploration of blue economy will help Bangladesh achieve middle-income status, he said.
The envoy added the EU has identified three main objectives — implementation of the sustainability compact, improving business climate and accompanying Bangladesh in climbing value chain.
