Bangladesh Mutual Cooperation Agreement with EU

Bangladesh’s first-ever dialogue with the EU was held in Dhaka on Thursday evening Minister of State for Foreign Affairs Shahriar Alam led the Bangladesh team in the dialogue The EU is led by Enrique Mora, Deputy Secretary General to the EU’s external action. The two sides agreed to conclude a partnership cooperation agreement within the framework of the dialogue

At a press conference in the middle of the meeting, it was announced that the deal will be done at any time. If this deal is done, it is believed that EU relations with Bangladesh will reach a new high

What he said about negotiations and agreements

Minister of State for Foreign Affairs Shahriar Alam told reporters: “The EU has shown interest in working with us on various issues including security, including countering militancy and terrorism, security on the Internet, organized crime, climate change, migration, trade and investment”.

The meeting also discussed the humanitarian, security and repatriation aspects of the Rohingya crisis.

Apart from that, relations between neighboring countries including UN member countries, war in Ukraine, food security and economic security were discussed.

“We are discussing taking our relationship to a new level, based on democracy, good governance and human rights. In the future, we will conclude a partnership and cooperation agreement.” Underlining that Bangladesh has achieved incredible success over the past 10 years, he said: “The EU wishes to advance relations with Bangladesh for two reasons. A. The growing economic development of Bangladesh, two. Geographical position of Bangladesh at the center of the Indo-Pacific region. including the Russian-Ukrainian war The EU does not want to impose anything on Bangladesh in any area. On the contrary, we respect the independent decision of Dhaka.

Trade-Investment

Recently, a study entitled “Enhancing Trade and Economic Cooperation between Bangladesh and the EU: Policy Issues and Priorities” indicated that Bangladesh now exports $23 billion worth of goods to 27 European countries. Its amount can be increased by additional 18 billion by increasing the capacity and variety of products years, it has now increased 10-fold to $25 billion 90% of Bangladesh’s export products to Europe are ready-to-wear garments

And net FDI inflows from EU countries have reached $3.5 billion over the past five years, nearly a quarter of total FDI inflows over the period.

State-of-the-art technology and technical knowledge is required

Executive Director of the South Asian Network on Economic Modeling (SANEM) and Professor in the Department of Economics at the University of Dhaka. Salim Raihan said: “The European Union is our biggest trading partner. The trade benefits we will get from it now will last for three years after leaving the PMA in 2026. But most of our export products are clothing products. Diversity is needed here If we get advanced technology and know-how as a result of cooperation agreement, it will be very profitable for us It will be possible to increase our product quality and increase product variation And we can attract investment.

He said: “Right now, good governance, human rights, democracy – these issues are important for any country.” It’s not a matter of not being in a contract Of course Bangladesh has to develop these issues on its own EU will take care of that.

Economic and geopolitical importance of Bangladesh

Former Ambassador Major General (Retired) Shahidul Haque believes that “the interest of the whole world in Bangladesh is increasing due to its economic development and geopolitical importance. The EU has an interest, America has an interest, China also has an interest So we have to be careful about the Indo-Pacific strategy in all aspects There are different types of alliances or groups based on it We have to focus on the economy Do not engage not in a new cold war.

He thinks: “In order to make the economic development of Bangladesh sustainable, democracy, good governance and human rights must be developed. And to benefit from this cooperation agreement, we must develop it.

Incidentally, the alliance of 27 nations of the EU has concluded a partnership and cooperation agreement with the two Asian countries of India and Pakistan and ASEAN as an alliance.

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