EU ready to work with Bangladesh on LDC graduation
European Union Ambassador to Bangladesh Michael Miller. Photo: Collected from Facebook
The European Union (EU) wants to work with Bangladesh to ensure a smooth and successful graduation from the list of least developed countries (LDCs). At the same time, the EU is interested in exploring the possibility of a free trade agreement (FTA) with Bangladesh in the future.
European Union Ambassador to Bangladesh Michael Miller said this in his remarks at the Bay of Bengal Conversation held at the Sonargaon Hotel in the capital on Sunday.
Michael Miller said Bangladesh is at an important point in its development journey. Alongside graduating from the LDC category, the country is facing political transformation, the rebuilding of accountable state institutions, economic pressures, climate risks and a complex global situation. For this reason, the EU views Bangladesh as a partner of growing strategic importance.
The EU ambassador in Dhaka said the EU has played an important role in Bangladesh’s development journey through the ‘Everything But Arms’ trade facility. However, he said it is now time to move EU Bangladesh relations beyond a donor recipient perspective.
The diplomat said, “We are now looking to identify a different level of ambition. To work together to ensure Bangladesh’s smooth and successful graduation from LDC status and to examine the possibility of a potential free trade agreement in the future.”
Referring to the proposal as an exceptional initiative by the EU before Bangladesh graduates from the LDC category, Michael Miller said, “We are fully prepared to match the pace and ambition that Bangladesh will demonstrate.”
However, he emphasized the importance of ensuring accountable institutions, the rule of law, respect for labor rights and human rights, environmental protection and good governance for such an agreement.
The EU ambassador said Bangladesh needs strong institutions, independent oversight mechanisms and predictable and inclusive decision-making processes to address external, geopolitical and geoeconomic pressures as well as climate, social and technological changes.
Michael Miller said, “The important work of constitutional reform that has begun must be completed. This requires efforts to build broader consensus in politics.”
He also emphasized developing a skilled workforce, green growth, diversification of the export sector and building reliable infrastructure.
