BGMEA urges EU to scrap textile threshold criteria in GSP+ for BD

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BGMEA urges EU to scrap textile threshold criteria in GSP+ for BD​

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FE REPORT

Published :
Apr 12, 2023 11:54 PM
Updated :
Apr 12, 2023 11:55 PM

Apex apparel body BGMEA has requested the European Union (EU) to waive the safeguard textile threshold criteria or redesign the mechanism for Bangladesh in the proposed GSP scheme, in order to allow the country to reap benefits from GSP Plus after its LDC graduation.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) also urged the EU to extend its trade facilities under the GSP scheme for six more years instead of three years, saying the initiative will support Bangladesh in graduating smoothly from the LDC category and continuing the country's development journey in the coming years.

BGMEA President Faruque Hassan made the call on Wednesday during a meeting with Ms Valérie Hayer, member of the European Parliament, held at BGMEA Complex in Uttara, according to a statement.

Issues, including bilateral trade, LDC graduation and its implications on Bangladesh's trade and economy, current situation of the RMG industry and its prospects and challenges, were discussed in the meeting, it added.

They also had discussions about the proposed EU GSP scheme for 2024-2034 and how it will impact Bangladesh's trade preferences in the EU market under GSP+ after LDC graduation.

Mr Hassan said though the country is likely to qualify for GSP+ after its LDC graduation, the specified EU 'safeguards' in the proposed provisions of the GSP scheme will exclude Bangladesh's RMG exports from any tariff preferences.

The move will negatively impact the competitiveness of Bangladesh's RMG industry, which is the source of livelihoods for millions of people, he said.

Moreover, as a major export sector, the RMG industry is vital for propelling the economic growth of Bangladesh.

Given the huge importance of the apparel sector in Bangladesh's socio-economic development, the BGMEA president underscored the need for continued support from the EU, especially in terms of preferential market access for export sectors, including the RMG industry, even after the LDC graduation.

The BGMEA president thanked the EU for allowing Bangladesh duty-free access to the European market, saying the trade preference under the GSP scheme had helped the RMG industry secure a strong position in the apparel market and create employment for millions of people, mostly women in Bangladesh.

He apprised Ms. Valérie Hayer of the vast progress made by Bangladesh's RMG industry in the areas of workplace safety, environmental sustainability and workers' rights and welfare.

He also briefed the European Parliament member about the industry's strides in circular fashion along with strong focus on product diversification and technological upgradation to build up strengths in sustainable garment manufacturing.

munni_fe@yahoo.com

BGMEA urges EU to scrap textile threshold criteria in GSP+ for BD

Apex apparel body BGMEA has requested the European Union (EU) to waive the safeguard textile threshold criteria or redesign the mechanism for Bangladesh in the proposed GSP scheme, in order to allow the country to reap benefits from GSP Plus after its LDC graduation. Bangladesh Garment Manufacture

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