Hasina seeks EU’s GSP+ facility after Bangladesh’s graduation from LDC bracket

Bangladesh signed several agreements with the EU in Brussels on Wednesday

News Deskbdnews24.com
Published : 25 Oct 2023, 02:35 PM
Updated : 25 Oct 2023, 02:35 PM

Prime Minister Sheikh Hasina has called upon the European Union to continue providing Bangladesh with the Generalised Scheme of Preferences Plus, GSP+, facilities after the country graduates from the Least Developed Countries bracket.

"I hope that the EU will offer GSP+ to Bangladesh to support our development following our LDC graduation in 2026," she said in a statement at the signing ceremony of several agreements at the EU Headquarters in Brussels on Wednesday.

The premier and the European Commission Chairman Ursula von der Leyen witnessed the signing of the agreements, including a 350 million euros Finance Contract between Bangladesh and the European Investment Bank at the European Commission Headquarters, Brussels, reported Bangladesh Sangbad Sangstha.

Bangladesh will step in the developing countries bracket on Nov 24, 2026. The United Nations General Assembly authorised the graduation in November 2021.

The World Trade Organization laws stipulate that a country cannot avail duty-free imports and other facilities once it graduates from the LDC bracket.

In a statement, Hasina said Bangladesh was “seriously concerned” over the wars and wanted to work together to establish peace globally.

Hasina also thanked the EU for its humanitarian aid towards the 1.2 million Rohingya refugees sheltered by Bangladesh.

She said the solution to the Rohingya crisis lies in their safe and sustainable return to their homeland in Myanmar.

"I urge the EU to remain engaged for an early durable solution to the crisis," she added.