The European Union’s (EU) generalised scheme of preferences plus (GSP +), a trade privilege that Bangladesh can access once the country graduates from the least developed country (LDC) status, will be a challenging task, according to Charles Whiteley, EU ambassador to Bangladesh. “This will not be a picnic,” he said while exchanging views with journalists recently.
Whiteley, while interacting with Diplomatic Correspondents’ Association, Bangladesh (DCAB), said Bangladesh’s aspiration for the GSP plus benefits involves a number of difficult tasks that include complying with regulations on human, environmental and labour rights.
Getting GSP plus benefits will require the ratification of 32 UN conventions. Bangladesh is good in ratifying the conventions, but what is needed is the implementation, he was quoted as saying by Bangla media reports.
The European Union’s (EU) generalised scheme of preferences plus, a trade privilege that Bangladesh can access once the country graduates from the least developed country status, will be a challenging task, according to Charles Whiteley, EU ambassador to Bangladesh. “This will not be a picnic,” he said while exchanging views with journalists recently.
Bangladesh annually exports nearly $19 billion to the EU—the largest amount to a single bloc—and has benefited under the GSP over the years. The privilege will end by 2029, but the country can access the GSP plus scheme.
Fibre2Fashion News Desk (DS)
