Bangladesh has initiated steps to obtain waivers on the safeguard provisions in the proposed European Union generalised scheme of preferences (EU GSP) that could keep Bangladesh’s apparel exports out of the purview of duty benefits in EU markets after the country graduates into a developing one from a least developed country, commerce secretary Tapan Kanti Ghosh said.
There are many positive things in the proposed regulation of the Generalised Scheme of Preferences for 2024-34 that could be helpful for Bangladesh to get the GSP plus facility in the EU after the graduation, but apparel products might face difficulties in getting duty-free benefits due to the safeguard provision, he told a meeting on the ministerial conference of the World Trade Organisation organised by the Economic Reporters’ Forum recently.
The WTO ministerial conference is scheduled in Geneva from November 30 to December 3.
Bangladesh has initiated steps to obtain waivers on safeguard provisions in the proposed European Union generalised scheme of preferences that could keep Bangladesh’s apparel exports out of the purview of duty benefits in EU markets after the country graduates into a developing one from a least developed country, commerce secretary Tapan Kanti Ghosh said.
‘We have enough time to negotiate. We are seeking greater cooperation with the EU. There is a possibility to discuss in this regard with the European Parliament team in Geneva during the WTO ministerial meeting,’ Tapan was quoted as saying by Bangla media reports.
Commerce ministry’s WTO cell director general Mohammad Hafizur Rahman said that many countries at the ministerial meeting had supported the proposals placed by Bangladesh or had been making the same kind of proposals.
Fibre2Fashion News Desk (DS)
