Eligible countries must implement international conventions on human rights, labor rights, the environment and good governance.
There are some fairly stringent requirements for GSP Plus accession and Bangladesh has already ratified the 32 conventions it now requires for GSP Plus membership.
Bangladesh’s graduation from LDC status in 2026 would also mean graduation from the current ‘Everything But Arms’ (EBA) unilateral trade preference granted to Bangladesh by the European Union, Bangladesh’s largest export destination. There will be a transition period of three years.
“Our focus now is ensuring a swift transition. I think EuroCham will be really helpful,” said Ambassador Whiteley.