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Bangladesh needs to qualify for GSP+: German Ambassador

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Desk Report: German Ambassador to Bangladesh Achim Tröster said, Bangladesh will have to negotiate with the European Union to qualify for the GSP (Generalized System of Preferences) plus scheme for getting a privileged tariff facility after LDC graduation.

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LDC graduation will bring hope as well as challenges for Bangladesh, which the country will be able to overcome,” he said during a discussion organized by the Diplomatic Correspondents Association of Bangladesh (DCAB) at the National Press Club on Wednesday.

“The German trade policy is a part of the unified European trade policy. Our trade rules and regulations are drafted by the European Commission, which has the mandate to draft and to adopt them. “So, this is not a bilateral Bangladesh-German trade relation, but a part of a system of customs and tariff that is valid in the European Union.” added ,German Ambassador.

The ambassador said after the graduation takes place in 2026, there will be a grace period of three years when Bangladesh can continue to benefit from this zero-tariff facility.

The GSP plus scheme is a “special incentive arrangement for Sustainable Development and Good Governance” for “vulnerable developing countries”.

Germany is the largest trading partner of Bangladesh in Europe and the second largest globally. More than 90% of imports in Germany from Bangladesh are textile products whereas Bangladesh imports mainly consisting of machines, electro-technical items and chemicals, and related products

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