"Although the next preferential trade benefit, or GSP status, is different from the current "Everything but Arms, or EBA, facility", there is still scope for market expansion. "That means the business partners here and the Bangladesh government now must carry out huge activities. "Highlighting the beginning of the efforts through a comprehensive review of labour law, Miller said: "We would like to see that in the near future and hope that transparency will be maintained with the EU. In 2023, 20.70 percent of Bangladesh's total trade was with the EU alliance.Bangladesh exported goods worth $18.9 billion to the European market that year, in which the apparel sector played a major role. It depends on the progress of the readymade garments, textiles, and knitwear sector and environmental, social, and good governance.

Source: bd News24 January 14, 2025 23:07 UTC