“GSP plus is not an easy ticket,” he said during the event, marking the ‘soft launch’ of the EuroCham to boost Bangladesh-EU business ties, according to domestic media reports.
The EU’s GSP+ offers developing nations a special incentive to pursue sustainable development and good governance. Eligible nations have to implement international conventions on human rights, labour rights, environment and sound governance.
The time has arrived to create a branch of the European Chamber of Commerce (EuroCham) in Bangladesh to promote trade and investment and help ensure a smooth transition to the Generalised Scheme of Preferences Plus (GSP+) era, Charles Whiteley, head of the Delegation of the European Union (EU) to Bangladesh recently said at an event at his residence.
Bangladesh’s graduation from the least developed country (LDC) status in 2026 would mean graduation from the EU Everything but Arms (EBA) unilateral trade preference offered to Bangladesh. There will be a three-year transition period.
The EU’s focus is now to ensure a swift transition and EuroCham will indeed be quite helpful, the ambassador said.
“It (EuroCham) should be business driven and business interests are reflected in it,” said the EU ambassador, emphasising that the chamber will lobby for European business interests and the removal of barriers to trade and investment.
EuroCham will not compete with the existing chambers but to complement the existing bilateral chambers of commerce, he added.
Fibre2Fashion News Desk (DS)
