EuroCham Bangladesh starts journey, aims to enhance economic collaboration

European companies and individuals in Bangladesh have officially launched the European Union Chamber of Commerce in Bangladesh (EuroCham Bangladesh) with an aim to bolster economic ties between Europe and Bangladesh.

The launching ceremony was held yesterday at a hotel in the capital.

The chamber aims to foster collaboration, innovation, and sustainable business practices, serving as a hub for strengthening business relations between European investors and Bangladeshi counterparts. 

As per the EuroCham members, it will facilitate dialogue between the private sector and key government stakeholders, such as the Bangladesh Investment Development Authority (Bida), the Ministry of Commerce, and the National Board of Revenue (NBR) to improve the ease-of-doing business in Bangladesh.

EuroCham will advise European and Bangladeshi companies on the impact of upcoming EU legislation on their supply chains, the corporate sustainability due diligence directive, textile strategy, circular economy, digital product passport, and eco-design for sustainable products, to name just a few.

With a view to facilitating Bangladesh's green and digital transition, EuroCham will also offer a platform for sharing know-how.

Speaking at the event, EuroCham Chairperson Nuria Lopez highlighted the chamber's role in branding Bangladesh to attract greater European investment. "This initiative signifies a milestone in the relationship between Europe and Bangladesh," she said.  

Addressing the programme, Michael Miller, the European Union ambassador to Bangladesh, expressed the EU's intention to partner intensively with the European Union Chamber of Commerce in Bangladesh (EuroCham) to maximise trade and investment.

He laid emphasis on exploring more B2B contacts, navigating the challenges of LDC graduation and promoting sustainable due diligence in supply chains, opening up the prospect of greater EU foreign direct investment (FDI) and a more diversified Bangladeshi economy.

The event was attended by senior government officials, including Lutfey Siddiqui, chief adviser's special envoy on international affairs; Chowdhury Ashik Mahmud Bin Harun, Bida executive chairman; Abdur Rahman Khan, NBR chairman; and representatives from the Ministry of Foreign Affairs, commerce, finance, and other government authorities.

Besides, all EU member states represented in Dhaka including the heads of mission from Denmark, France, Italy, Spain, and Sweden, consuls representing EU countries in Bangladesh, leading European companies, and local private sector leaders were also present at the launching ceremony.