Diplomatic efforts will be expedited to keep apparel shipment to EU unhurt: Tipu Munshi

Bangladesh will expedite diplomatic efforts with the European Union (EU) to keep apparel shipment to that destination unhurt, Commerce Minister Tipu Munshi said today.

"We will start talking with the EU about the safeguard measure soon and we will address different issues so that we become eligible for the GSP Plus status after our graduation to a developing country from the least developed country (LDC)," he said.

Munshi was briefing media after a meeting with Charles Whitley, the newly appointed EU ambassador to Bangladesh.

The EU, in its proposed GSP Plus scheme, said any single garment item which will cross 6 per cent of the total value of any particular imported garment items will not enjoy the zero duty benefit and in this case normal 12 per cent duty will be imposed.

The new 10-year-long GSP scheme will come into effect from January 2024 and continue up to the end of 2034.

"Since the EU is the largest export destination for Bangladesh, we will start talk with them for extending our market facility," Munshi said while replying to the queries from journalists.

Bangladesh will graduate from the LDC to a developing country in 2024 and the EU will continue the duty privilege up to 2029.

"Our expectation is that we will get more years to enjoy the duty privilege to the EU," the minister said.