Partnership, co-op agreement to bolster collab with EU: Experts
As Bangladesh continues its remarkable development and prepares for LDC graduation, its negotiations for a Partnership and Cooperation Agreement (PCA) with the EU are expected to pave the way for enhanced collaboration and mutual benefits in various areas of cooperation, experts said at a conference in Brussels on Wednesday.
During the conference, organised by the European Institute for Asian Studies (EIAS) and Study Circle London to mark 50 years of diplomatic relations between Bangladesh and the EU, they emphasised the need for rebranding Bangladesh and recognising its development efforts, according to a press release.
However, they noted that being a major beneficiary of the EU's Everything but Arms scheme does not grant Bangladesh a blank cheque, and certain conditions must be fulfilled. Nevertheless, there is immense potential in Bangladesh's cooperation with the EU, particularly considering its geostrategic role in the Indo-Pacific region and its upcoming graduation from LDC status.
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The speakers from both regions also explored opportunities for future collaboration in varied areas such as labour rights, economic diversification, renewable energy, and migration policies to strengthen their long-term cooperation.
Addressing the event, titled "EU-Bangladesh Cooperation: Opportunities and the Bengal Tiger Economy", Mahbub Hassan Saleh, Bangladesh ambassador to Belgium, Luxembourg, and the European Union, emphasised the robust trade partnership between the EU and Bangladesh, with the EU serving as the destination for 50% of Bangladeshi global exports.
He highlighted the shared values of democracy, justice, gender equality, and human rights that form the foundation of cooperation between the two entities.
Ambassador Saleh also announced the initiation of negotiations for a PCA between the EU and Bangladesh, marking a significant step toward strengthening their long-term alliance.
Milan Zver, a member of the European Parliament, stressed the need for human capacity development in Bangladesh and inclusive governance, with a specific focus on education, skills development, green inclusive development, and energy efficiency.
Rensje Teerink, head of the Division for South Asia of the European External Action Service, stated how at their 50th anniversary the relations between Bangladesh and the EU have become more mature and geostrategic. The launch of the PCA negotiations will therefore be key to acquiring a new set of instruments to advance their bilateral cooperation, he added.
Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), emphasised the significant role of the garment industry in Bangladesh's economic growth and poverty reduction.
He stressed the importance of deepening the partnership with the EU and retaining market access, while also focusing on environmental and labour rights.
The BGMEA president also highlighted Bangladesh's shift from an agro-based to an industry-based development model and the country's aspirations to become the 23rd largest economy by 2050.
Syed Mozammed Ali, chairman of Study Circle London, presented a study on Bangladesh's development journey, noting the country's transformation from a "bottomless basket" to the 37th largest economy globally.
He highlighted the need for further collaboration on issues such as climate change and the reception of Rohingya refugees.
Advocate Tarana Halim, former state minister of post and telecommunications, emphasised the importance of turning the people of Bangladesh into a highly skilled workforce and providing them with jobs.
She highlighted Bangladesh's initiatives for sustainable development and identified opportunities for EU investment in sectors such as shipbuilding, education, and healthcare.
