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Bangladesh

Bangladesh

The EU works closely with Bangladesh in the framework of the EU-Bangladesh Co-operation Agreement, concluded in 2001. This agreement provides broad scope for co-operation, extending to trade and economic development, human rights, good governance and the environment.

Bangladesh has been a WTO member since 1995 and benefits from the EU's "Everything but Arms" arrangement, which grants duty free, quota free access for all exports, except arms and ammunition.

Trade picture

  • The EU is Bangladesh's main trading partner, accounting for around 12% of Bangladesh's total trade.
  • In 2012, Bangladesh was the EU's 35th largest trading partner in goods.
  • EU imports from Bangladesh are dominated by clothing, accounting for around 90% of the EU's total imports from Bangladesh.
  • EU exports to Bangladesh are dominated by machinery and transport equipment.
  • From 2008 to 2012 EU28 imports from Bangladesh increased from €5,464 million to €9,212 million (+69%), which is more than half of Bangladesh's total exports.

EU-Bangladesh "trade in goods" statistics

Trade in goods 2012-2014, € billions
Year EU imports EU exports Balance
2012 9.9 1.5 -8.4
2013 10.9 1.7 -9.2
2014 12.3 2.0 -10.3

Foreign direct investment

Foreign direct investment 2013, € billions
Year Inward stocks Outward stocks Balance
2013 0.5 0.3 -0.2

More statistics on Bangladesh

EU and Bangladesh

As a Least Developed Country (LDC), Bangladesh benefits from the most favourable regime available under the EU's Generalized Scheme of Preferences (GSP), namely the Everything But Arms (EBA) arrangement. EBA grants the 48 Least Developed Countries – including Bangladesh – duty free quota, free access to the EU for exports of all products, except arms and ammunition.

In 2013, serious accidents in garment factories in Bangladesh have highlighted the need to ensure that factories across the country comply with international labour standards, including (ILO) conventions. Following these dramatic accidents, the then Commissioner De Gucht and High Representative Ashton made joint statements, expressing their concerns about the labour conditions, including health and safety provisions, for workers in factories across the country.

Trading with Bangladesh