48 non-tariff barriers in trade with EU removed, 13 in process of resolution

Forty-eight non-tariff barriers identified in bilateral trade with the European Union (EU) have been resolved. 

Another 13 barriers are in the process of being resolved, said Commerce Minister Khandaker Abdul Muktadir. 

He gave this information at a press conference after a meeting with officials of the EU Bangladesh delegation at the Ministry of Commerce in Dhaka on Sunday.

The Commerce Minister said that 48 of the complaints made earlier by the EU regarding non-tariff barriers in bilateral trade have been resolved. The process of resolving 13 more issues is under way.

At the press conference, the Minister said that the EU’s support has been formally sought for the request to postpone Bangladesh’s transition from the Least Developed Country (LDC) list by another three years. 

He hopes that the EU will support Bangladesh’s proposal. Bangladesh believes that this proposal will be approved, whether with a vote or without a vote.

He said that the 81st session of the United Nations General Assembly (UNGA) is scheduled to decide this month on the request to postpone Bangladesh’s transition from LDC. For this reason, the EU’s co-operation has been sought in favour of Bangladesh’s request.

Meanwhile, the Commerce Minister said that initiatives are also being taken forward to start negotiations with the European Union to sign a Free Trade Agreement (FTA). 

He said that negotiations to start negotiations on signing an FTA with the EU may start soon.