Bangladesh and the European Union reaffirm their commitment to strengthening economic cooperation

Bangladesh and the European Union (EU) have voiced optimism about strengthening trade and investment ties following a bilateral meeting held on the sidelines of the 14th WTO Ministerial Conference (MC14).

At the meeting on 29 March in Yaoundé, Cameroon, Commerce Minister Khandaker Abdul Muqtadir reaffirmed Bangladesh’s commitment to deepening its economic partnership with the EU, according to a Commerce Ministry press release issued on Monday (30 March).

The minister led the Bangladesh delegation, which included Commerce Secretary Mahbubur Rahman and other senior officials. The EU delegation was headed by Commissioner Maroš Šefčovič, accompanied by Director-General for Trade Sabine Weyand and other officials.

Muqtadir said the new government is pursuing forward-looking policies to better integrate Bangladesh into global value chains and improve the business climate, aiming to accelerate sustainable, trade-driven growth.

Highlighting Bangladesh’s upcoming graduation from the Least Developed Country (LDC) category, he requested the EU to grant a three-year extension to the transition period to help preserve export competitiveness and cushion potential economic risks.

He also called for early discussions on a Free Trade Agreement (FTA), noting that the EU remains Bangladesh’s largest export market, particularly for readymade garments. Outlining the country’s broader trade strategy, the minister said Bangladesh has already signed an Economic Partnership Agreement (EPA) with Japan and is currently negotiating FTAs and CEPAs with countries including South Korea, Singapore and the United Arab Emirates.

The minister further noted progress in labour sector reforms in line with International Labour Organization (ILO) standards, adding that the amended labour law will be enacted soon.

In response, the EU side said Bangladesh’s request for extending the LDC transition period would be given due consideration and welcomed the ongoing labour reforms.

Regarding the proposed FTA, EU officials said the issue would be reviewed after completing necessary internal procedures.

Both sides stressed the importance of a level playing field, transparency and fairness in trade and investment. While the EU highlighted the need for balanced engagement, Bangladesh reiterated its commitment to ensuring non-discriminatory and equitable treatment for all partners.

The two sides agreed to maintain close engagement and continue discussions on trade, investment and reform initiatives going forward.