Bangladesh should negotiate with the European Union (EU) to soften some provisions in the proposed Generalised System of Preferences (GSP) Plus since the country has extra time to do so after the EU extended the tenure of the existing GSP status up to 2027, an economist said yesterday.
Bangladesh might be the second-largest apparel supplier in the world, but its current installed capacity will not be adequate to meet demand if orders surge significantly as buyers shift away from countries such as China and Vietnam.
Bangladesh has addl export potential of $22 5b for non-RMG products to EU: study newagebd.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newagebd.net Daily Mail and Mail on Sunday newspapers.
Bangladesh has the potential to grab a bigger market share in the European Union (EU), even in case of garments, on the condition that there is product diversification.