The European Union Chamber of Commerce in Bangladesh (EuroCham) urged the Interim Government to avoid discrimination against European Union companies, as Bangladesh would consider offering substantial trade concessions to the United States.
In a press release on Wednesday, the chamber said that the EU is Bangladesh’s largest and most reliable trading partner, accounting for half of all exports.
Since 2001, the EU has granted Bangladesh longstanding duty-free and quota-free preferential access under the Everything but Arms scheme.
Moreover, Bangladesh enjoys a notably higher trade surplus with the EU than its other trade partners, it said.
According to the press release, out of a total €22 billion trade in 2024, EU exports accounted for only €2 billion, resulting in a trade balance strongly favoring Bangladesh.
However, high tariffs and non-tariff barriers hinder EU companies’ efforts to do business with and export to Bangladesh.
In this regard, EuroCham encouraged the government to reaffirm its commitment to a rules-based trading system and pursue essential trade policy and customs reforms while ensuring fair and equitable treatment for all trading partners.Â
The chamber was ready to collaborate with the government on addressing current challenges and supporting a smooth and sustainable transition.
