EuroCham in Bangladesh concerned over planned trade concessions to US
The European Union Chamber of Commerce (EuroCham) in Bangladesh recently requested the interim government to avoid discriminating against European Union (EU) companies by mulling over offering substantial trade concessions to the United States.
The EU accounts for half of Bangladesh's exports and has been offering the latter duty- and quota-free preferential access under the 'Everything But Arms' scheme since 2001.
EuroCham Bangladesh has urged the interim government to avoid discriminating against EU firms by mulling over offering substantial trade concessions to the US. High tariffs and non-tariff barriers hinder EU firms' efforts to do business with and export to Bangladesh, it noted, encouraging Dhaka to reaffirm its commitment to a rules-based trading system and pursue needed policy and customs reforms.
Bangladesh enjoys a notably higher trade surplus with the EU compared to its other trading partners.
Out of a total €22-billion trade in 2024, EU exports accounted for only €2 billion, resulting in a trade balance strongly in favour of Bangladesh, the chamber said in a statement.
High tariffs and non-tariff barriers hinder EU companies' efforts to engage in business with and export to Bangladesh, it was cited as saying by domestic media reports.
EuroCham encouraged Dhaka to reaffirm its commitment to a rules-based trading system and to pursue essential trade policy and customs reforms, while ensuring fair and equitable treatment for all trading partners, the statement added.
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