Brussels: Vice-President of the European Commission Kaja Kallas announced on Monday that the Partnership and Cooperation Agreement (PCA) with Bangladesh aims to bolster prosperity through enhanced trade and investment, digital trade, customs cooperation, intellectual property rights, and collaboration in education, training, science, and technology between the two entities.
According to United News of Bangladesh, Kallas emphasized that the PCA is grounded in a shared commitment to international law and norms and envisions increased cooperation on critical issues such as climate change, counterterrorism, migration, trafficking, money laundering, drugs, organized crime, and crisis management. Bangladesh has become the first South Asian country to conclude a modern PCA with the European Union, which will replace the 2001 Cooperation Agreement once it comes into force.
Kallas, who also serves as EU High Representative for Foreign Affairs and Security Policy, expressed gratitude to the negotiating teams and acknowledged the chief negotiators for their substantial efforts. She conveyed anticipation for the formal signing of the PCA following the completion of necessary formalities and legal processes.
The new agreement is expected to establish a “more strategic and comprehensive” basis for Bangladesh-EU relations, updating the existing bilateral agreement that dates back to 1994. It also aims to deepen cooperation and enhance resilience, reflecting the shared ambition of both parties.
During the initialling ceremony, Kallas welcomed Bangladesh’s Foreign Minister Dr. Khalilur Rahman to Brussels, appreciating his visit early in his tenure. The Foreign Minister was accompanied by Humaiun Kobir, Adviser to the Prime Minister of Bangladesh on Foreign Affairs, along with other senior officials.
The visit marked a significant milestone in Bangladesh-EU relations, with the Ministry of Foreign Affairs noting that the PCA’s initialling represents a major step forward. The agreement offers a comprehensive framework for enhanced political, economic, trade, and strategic cooperation, underpinned by commitments to democracy, human rights, peace and security, climate action, and sustainable development.
The PCA, comprising 82 articles, will promote collaboration in various sectors including political dialogue, energy, transport, agriculture, migration, security, finance, maritime affairs, and people-to-people exchanges. The EU and Bangladesh have been negotiating since late 2024, concluding discussions earlier this year. The initialling paves the way for formal signature and ratification by both parties after completing necessary procedures, ensuring these commitments are realized.
Bilateral relations between Bangladesh and the EU have spanned over 50 years, with development cooperation and trade as significant components. The EU stands as Bangladesh’s largest trading partner, with two-way trade now exceeding £22 billion. Since 2001, Bangladesh has benefited from the EU’s ‘Everything but Arms’ arrangement, granting duty-free, quota-free access for all exports except arms and ammunition.