“As Bangladesh becomes unable to rely on multilateral preferences, following its probable loss of EBA in 2027, it may consider negotiating free trade agreements [FTAs] or bilateral agreements with a number of major trading partners, such as China,” said the report published on Monday. “Multilateral trade preferences for LDCs, such as duty-free quota-free market access under the European Union’s (EU) Everything But Arms (EBA) initiative, are particularly important,” reads the report. “For Bangladesh, therefore, the next few years will be crucial, given that any bilateral agreements or FTAs negotiated now are likely to set a precedent for future agreements. Speaking to the Dhaka Tribune, Additional Secretary at the Ministry of Commerce Shafiqul Islam, said the government is looking forward to forge bilateral FTAs with countries like China, Malaysia, and Turkey. “We have undertaken a joint feasibility study with China on forging a bilateral FTA,” Shafiqul added.

Source: Dhaka Tribune January 24, 2019 16:09 UTC