Getting GSP Plus benefit depends on EU’s political decision: Tipu

PBC News:  Giving the Generalised System of Preferences (GSP) Plus status to Bangladesh depends on the political decision of the European Union (EU), said Commerce Minister Tipu Munshi.

The Commerce Minister said this in response to a question from Awami League MP M Abdul Latif in Parliament on Thursday.

He said, “The government is working to get GSP plus benefits from the EU. At present Bangladesh as an LDC is getting duty free, quota free market facility from EU. If Bangladesh finally transitions from a least developed country in 2026, it is expected to get three years of ‘transition time’ under the current GSP law.”

Intensive communication is being maintained in the EU to continue Bangladesh’s duty free market facility after 2029, said Tipu Munshi.

Tipu Munshi further said the ‘National Action Plan for the Labor Sector’ has been prepared and sent as per the demand of the EU.

“Initiatives have been taken to sign the ‘Minimum Age Convention’ to meet the conditions of GSP Plus. The EU has various questions on Bangladesh’s labor rights, factory safety, child labor and good governance. The Bangladesh government is trying to give satisfactory answers to these questions.”

The Commerce Minister said whether the EU would give GSP plus benefits to Bangladesh it depends on their political considerations.

“In addition, EU is formulating new GSP regulations. The government is working for Bangladesh to get GSP plus benefits under that regulation.”