EU to provide Bangladesh with 80m euros
Friday, 29 February 2008

Staff Correspondent

The European Union will provide Bangladesh with some 80 million euros as trade related technical assistance to support capacity developments of Bangladeshi industries especially the export oriented manufacturing sector, a top EU diplomat said Wednesday.

'Bangladesh in the period 2007-2013 will receive close to 80 million euros in trade related assistance,' said Stefan Frowein, ambassador of the delegation of the European Commission in Bangladesh.

Frowein was addressing at the wrap-up ceremony, held at Sheraton Hotel, of the 'export integration and entrepreneur development' project funded by the EU and managed by the Federation of Bangladesh Chambers of Commerce and Industry. Under the months' long project, the FBCCI conducted at least 10 studies, several industry seminars and developed publications to educate exporters with smart knowledge on production and marketing in increasingly globalised market place.

"European Union is the largest donor in Bangladesh in the field of trade related technical assistance which is fully justified by both the importance of the sector for the country's growth and by the fact that EU is Bangladesh's largest trading partner,' the ambassador said.

Frowein informed the local business audiences that under the National Indicative Programme for 2007-2010 EU had already allocated 40 million euros and programming was well underway in Bangladesh.

The FBCCI administrator, Syed Manzur Elahi, said export earning of Bangladesh had increased significantly as result of implementation of export-led growth strategy of Bangladesh and duty-free access and special facilities like GSP provided by the EU and some other trade partners of Bangladesh.

'We believe that there is still enormous scope fro our trade expansion in the European Union,' he added. European Union countries import major portion of Bangladesh's export shipments and some 59 per cent of made in Bangladesh garments are sold in European Union.

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