Bangladesh is pursuing a free trade agreement (FTA) with the European Union (EU) to preserve duty-free access after the country graduates from least developed country (LDC) status.
The European Union is Bangladesh’s largest market for ready-made garments, buying nearly half of the country’s total clothing exports. Government officials are working to remove investment barriers and secure long-term trade benefits, while the bloc has also expressed interest in an agreement.
Ready-made garment sector owners said the deal is urgent. “I cannot give a timeframe, but we hope the FTA with the EU will happen as soon as possible because it is urgent for us.”
Economists warned that negotiations could take time and require stronger protections for intellectual property, labor and gender rights, factory conditions and environmental standards.