The Research and Policy Integration for Development (RAPID) and FES Bangladesh organized a dissemination event today titled “The EU-Vietnam Free Trade Agreement: Implications for Bangladesh’s Export Competitiveness” at the Sheraton Hotel in Dhaka on 27 November.

Speaking as a special guest, Anwar Hossain, Administrator of BGMEA, provided an insightful analysis of the potential implications of the EVFTA on Bangladesh’s export competitiveness.

He highlighted the advantages of tariff benefits offered under the agreement for Vietnam. He stressed that Bangladesh, while facing the challenge of trade preference erosion after its LDC graduation, needs to adopt strategies to maintain and improve its export performance.

In his speech, Anwar Hossain emphasized the need for Bangladesh to diversify its export basket, particularly in sectors beyond ready-made garments (RMG), and to align with the EU’s sustainability regulations. 

He also pointed to the importance of enhancing competitiveness of Bangladesh’s RMG sector through value addition, a shift towards non-cotton production, and alignment with the EU's sustainability framework.

He further recommended exploring potential Free Trade Agreements (FTAs) or Comprehensive Economic Partnership Agreements (CEPAs) to secure long-term market access and mitigate risks posed by the erosion of preferential trade benefits.

The event was attended by Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division, Ministry of Finance, who attended the event as the chief guest. The keynote presentation on the implications of the EU-Vietnam Free Trade Agreement was delivered by Dr. Mohammad Abdur Razzaque, Chairman of RAPID.