Brussels: Bangladesh and the European Union (EU) on Monday underscored the significance of preferential market access and expressed their interest in initiating negotiations on a Free Trade Agreement (FTA) and Investment Protection Agreement (IPA). The discussions took place during a meeting between Foreign Minister Dr. Khalilur Rahman and High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission Kaja Kallas.
According to United News of Bangladesh, the meeting was attended by Foreign Affairs Adviser to the Prime Minister, Humaiun Kobir, and covered a comprehensive range of topics, including political, economic, and development cooperation. The discussions focused on trade and investment, Indo-Pacific cooperation, migration, skills development, labor standards, and the Rohingya crisis. Both parties highlighted Bangladesh’s post-LDC (Least Developed Country) transition, which Dhaka described as fruitful.
During the meeting, Bangladesh and the EU also welcomed the new Bangladesh-EU Partnership and Cooperation Agreement (PCA), which aims to foster a forward-looking partnership. The PCA was initialed by Secretary of the Ministry of Foreign Affairs Dr. Md Nazrul Islam and Deputy Managing Director of the EU’s Asia and Pacific Division at the European External Action Service Paola Pampaloni in Brussels. The signing was witnessed by the Bangladesh Foreign Minister and Kaja Kallas, with Foreign Affairs Adviser Humaiun Kobir present.
Officials at the Ministry of Foreign Affairs explained that the PCA will serve as the legal and political foundation for a strategic and long-term relationship between Bangladesh and the EU. The agreement is expected to bolster relations across various policy areas, including human rights, governance, trade, investment, environmental sustainability, climate change, food security, energy, transport, and science, technology, and innovation.
Moreover, the PCA represents a significant milestone as Bangladesh progresses towards becoming the first South Asian country to sign such an agreement with the European Union. The fifth round of negotiations on the framework agreement was held in January, where both parties finalized the text. The negotiations began with an explanatory meeting in Dhaka in November 2024 and included five rounds of discussions and several technical meetings in both Dhaka and Brussels.
The fifth round specifically addressed key thematic areas of mutual interest, including legal and judicial cooperation, intellectual property rights, energy cooperation, fisheries, aquaculture, ocean governance, trade and investment, human rights, and customs cooperation.