Staff Reporter :
The European Union (EU) has expressed its desire to continue working constructively with the government of Bangladesh in creating an environment conducive to do business.
The issue was discussed at the 6th plenary of EU-Bangladesh Business Climate Dialogue at the Commerce Ministry here on Sunday.
The improvement in customs tariffs and customs procedures will help Bangladesh create a positive investment climate, which in turn will contribute to ensuring sustainable economic growth, said the EU Heads of Mission.
Commerce Minister Tipu Munshi chaired the dialogue while it was co-chaired by Commerce Secretary Dr Md Jafar Uddin and EU Ambassador to Bangladesh Rensje Teerink.
The dialogue was attended by all eight EU Heads of Diplomatic Missions in Dhaka — Denmark, France, Germany, Italy, Netherlands, Spain, Sweden, and the United Kingdom.
Numerous government authorities, including the Bangladesh Investment Development Authority (BIDA), the National Board of Revenue (NBR) and Bangladesh Bank, and representatives from EU private sector participated in the dialogue.
The EU Heads of Mission considered that there is an urgent need for the government of Bangladesh to action in order to facilitate more EU import to Bangladesh.
Currently, various tariffs and para-tariff barriers hinder quality European products from entering Bangladesh.
The Heads of Missions suggested that whilst there is no shortage of law or policies in Bangladesh to regulate trade and investment, the main difficulty was due to the lack of their effective enforcement.
Among other issues, the Ambassadors stressed the need for full and proper implementation of bilateral double taxation avoidance agreements, removing investment cap in the services sector, and upgrading the delivery of services at Chittagong port and Dhaka airport.
Bangladeshi exports to the EU amounted to about €18 billion in 2018, while the EU exports to Bangladesh were to the tune of €3.5 billion, according to EU Embassy in Dhaka.
The next plenary is scheduled for July 2020.
The European Union (EU) has expressed its desire to continue working constructively with the government of Bangladesh in creating an environment conducive to do business.
The issue was discussed at the 6th plenary of EU-Bangladesh Business Climate Dialogue at the Commerce Ministry here on Sunday.
The improvement in customs tariffs and customs procedures will help Bangladesh create a positive investment climate, which in turn will contribute to ensuring sustainable economic growth, said the EU Heads of Mission.
Commerce Minister Tipu Munshi chaired the dialogue while it was co-chaired by Commerce Secretary Dr Md Jafar Uddin and EU Ambassador to Bangladesh Rensje Teerink.
The dialogue was attended by all eight EU Heads of Diplomatic Missions in Dhaka — Denmark, France, Germany, Italy, Netherlands, Spain, Sweden, and the United Kingdom.
Numerous government authorities, including the Bangladesh Investment Development Authority (BIDA), the National Board of Revenue (NBR) and Bangladesh Bank, and representatives from EU private sector participated in the dialogue.
The EU Heads of Mission considered that there is an urgent need for the government of Bangladesh to action in order to facilitate more EU import to Bangladesh.
Currently, various tariffs and para-tariff barriers hinder quality European products from entering Bangladesh.
The Heads of Missions suggested that whilst there is no shortage of law or policies in Bangladesh to regulate trade and investment, the main difficulty was due to the lack of their effective enforcement.
Among other issues, the Ambassadors stressed the need for full and proper implementation of bilateral double taxation avoidance agreements, removing investment cap in the services sector, and upgrading the delivery of services at Chittagong port and Dhaka airport.
Bangladeshi exports to the EU amounted to about €18 billion in 2018, while the EU exports to Bangladesh were to the tune of €3.5 billion, according to EU Embassy in Dhaka.
The next plenary is scheduled for July 2020.
