Bangladesh resolves 48 trade barriers with EU

Bangladesh has resolved 48 non-tariff barriers previously identified by the European Commission to improve trade and investment. This progress has prompted a positive response from the EU, moving discussions closer to a Free Trade Agreement (FTA) and an Investment Protection Agreement (IPA).

During a meeting involving representatives from 27 countries, Commerce Minister Khandaker Abdul Mutadir noted that the solutions addressed several key issues, including the renewal of licenses for 100% foreign-owned logistics companies and increasing the annual limit for commercial sample imports from $10,000 to $20,000. Additionally, complexities regarding the customs valuation and scanning of smart cards used for export product traceability have been resolved.

Discussions regarding the FTA and IPA are expected to progress starting this week, aiming to restructure the trade relationship between Bangladesh and its largest export market.