The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the European Union (EU) to extend the transition period of the generalised system of preferences (GSP) for Bangladesh.
They are requesting an extension from three years to six years in order to facilitate a sustainable graduation from the least developed country (LDC) category in 2026.
During a meeting at the BGMEA Complex in Dhaka recently, the BGMEA made the call to EU Ambassador Charles Whiteley.
Currently, Bangladesh enjoys preferential trade facilities as an LDC, but upon graduation, it will lose these benefits from various countries and trade blocs.
However, the EU offers a grace period of three years, until 2029, during which the same LDC trade benefits will continue for the graduating country.
Due to the adverse impact of the Covid-19 pandemic and the Russia-Ukraine war, the BGMEA and other trade organizations are requesting an additional extension of the grace period.
They argue that the extension would help Bangladesh better address the challenges that will arise in the post-LDC era and sustain the country’s development progress.
BGMEA President Faruque Hassan emphasised the importance of the extension in a statement following the meeting with Ambassador Charles Whiteley.
Bharat Tex Special Report 2026 
