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Bangladesh is planning to seek the GSP-plus facility from the EU

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Bangladesh also plans to seek higher prices for its local ready-made garment (RMG) products in the EU markets, as it has made its factories labour-compliant as per the EU guideline. It has also introduced labor laws into the country and oversees the progress of labor rights scenario in line with the International Labour Organisation (ILO) conventions. Bangladesh is planning to seek the GSP-plus facility from the EU as it is set to graduate into a developing nation that would shore the country of its existing GSP facility. A co-chair of the sub-groups of the EU-Bangladesh JCM will reportedly try to formulise next course of actions, and clear up the barriers on the way to augmenting bilateral trade, economic cooperation and development. At JCM, Bangladesh would reportedly seek continuation of some existing benefits along with some fresh facilities for exporting its goods to the European market, after Bangladesh’s graduation from LDC status.