During a conference titled EU-Bangladesh Cooperation – Opportunities and the Bengal Tiger Economy, the President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassan highlighted the importance of continued cooperation from the European Union (EU) in facilitating a smooth and sustainable economic transition for Bangladesh.
Faruque expressed that the EU is Bangladesh’s largest trading partner and acknowledged the encouraging growth in trade between the two entities. Over the past decade, bilateral trade between Bangladesh and Europe has witnessed an annual increase of 5.87 per cent.
The BGMEA President attributed this growth to the trade preferences granted to Bangladesh under the Generalized System of Preferences (GSP) scheme by the EU.
The conference, organized by the Study Circle London and the European Institute for Asian Studies (EIAS) in Brussels, aimed to showcase Bangladesh’s remarkable progress in various sectors and discuss future development prospects.
In his keynote address, Faruque Hassan expressed gratitude to the EU for its consistent partnership in Bangladesh’s development journey, which has played a significant role in the country’s attainment of developing country status.
He also acknowledged the crucial role of the Everything But Arms (EBA) scheme in the success of Bangladesh’s textile and garment industry thus far.
