Dhaka, Bangladesh (BBN) – European Union (EU) is interested to establish a business council in Bangladesh aiming to expedite trade relations between the country and the European bloc.
Pierre Mayaudon, ambassador and head of EU delegation to Bangladesh, told reporters after a view exchange meeting with Bangladesh’s Commerce Minister Tofail Ahmed on Tuesday that the council would be formed consisting of ambassadors of EU countries having missions in Dhaka and business leaders of different bilateral trade promotion organizations working in Bangladesh.
Currently, some bilateral trade promotion bodies including Bangladesh German Chamber of Commerce and Industry, Dutch Bangladesh Chamber of Commerce and Industry and France Bangladesh Chamber of Commerce and Industry are now functioning in Bangladesh.
“The proposed council will work to identify the cross-cutting issues, areas of cooperation and difficulties in trade and economic relationship between the two sides,” the EU envoy explained.
Terming the EU as a trusted friend of Bangladesh, the commerce minister said: “More than half of our total export volume goes to EU market, which is expected to be increased in future and the EU has assured us to provide all kinds of cooperation to this end.”
He also said the EU wants to further increase import of different products including readymade garment, pharmaceuticals and ships from Bangladesh as they think the country is an important sourcing destination for them.
Bangladesh’s export earnings currently stand at more than US$30 billion, half of which comes from the EU, according to the minister.
BBN/SSR/AD-03Dec14-2:17 pm (BST)
