At a joint commission meeting in Dhaka, Bangladesh urged the European Union (EU) to reconsider its proposed changes to the Generalized System of Preferences (GSP) scheme. Specifically, Bangladesh requested flexible rules of origin (RoO) and exemptions from certain safeguard clauses to maintain trade privileges for all exports, including ready-made garments, beyond 2029. As Bangladesh prepares to graduate from Least Developed Country (LDC) status in 2026, it will benefit from current GSP and Everything but Arms (EBA) schemes until 2029, with potential for GSP+ eligibility after that. However, GSP+ has stricter requirements, including added domestic value and adherence to human rights, labor, and environmental standards.
Economic Relations Division (ERD) Secretary Shahriar Kader Siddiky argued that Bangladesh should not face penalties for its economic progress or lack of export diversification and highlighted the inconsistency of GSP+ access for some non-LDCs. Siddiky also proposed that GSP+ benefits for Bangladesh’s textiles would likely not disrupt the EU market. The EU representatives responded positively, saying they would consider Bangladesh’s concerns. The session was co-chaired by ERD Secretary Siddiky and EU Deputy Managing Director Paola Pampaloni.
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