The European Union’s Ambassador in Bangladesh, Charles Whiteley, has highlighted that Bangladesh’s access to the European Union market under the proposed GSP Plus regime hinges on the alignment of the country’s labour laws with international standards.

Whiteley emphasised the importance of transparency and consultation with tripartite stakeholders, as well as technical assistance from the International Labour Organization (ILO), in amending the Bangladesh Labour Act (BLA).

He cautioned that if Bangladesh does not align the BLA revision according to the action plan, it could pose a significant setback to the implementation process even as he expressed eagerness to hear perspectives from various industrial sectors during discussions on the GSP+ panel.

These remarks were made during a recent seminar organised by the Dhaka Chamber of Commerce and Industry (DCCI) and the European Union at the Renaissance Hotel in the capital Dhaka.

Bangladesh’s impending graduation from its status as a least developed country (LDC) signifies the conclusion of a longstanding trade relationship enjoyed under the Everything but Arms (EBA) trade regime.

As an alternative, Bangladesh has the option to seek access to the GSP Plus programme, which is the next most generous GSP scheme after EBA. This graduation is set to occur in 2026, with the EU extending the LDC trade facility until 2029, offering a three-year grace period to graduating LDC nations.

The effective implementation of the national action plan on labour, agreed upon by Bangladesh and the EU, will be a pivotal determinant for GSP+ eligibility.

Ambassador Whiteley acknowledged Bangladesh’s remarkable economic development and social progress, describing it as a rising economy even as he noted that the country’s graduation to lower-middle income status and its development status are historic milestones, bringing new opportunities and warranting a revitalization of EU-Bangladesh relations.