Bangladesh and the European Union (EU) have reaffirmed their commitment to deepening economic ties, with the EU signaling a positive outlook on extending trade benefits for Bangladesh following its graduation from the Least Developed Country (LDC) category.

The high-level bilateral meeting took place on Sunday on the sidelines of the 14th WTO Ministerial Conference (MC14) in Cameroon.

The Bangladeshi delegation was led by Commerce Minister Khandaker Abdul Muktadir, accompanied by Commerce Secretary Mahbubur Rahman.

The European side was headed by EU Commissioner Maroš Šefčovič and Director-General for Trade Sabine Weyand.

During the discussions, Minister Muktadir highlighted the forward-looking measures taken by the new government to integrate Bangladesh into global value chains and improve the domestic business climate.

Given the nation's upcoming LDC graduation, the Minister formally requested the EU to extend the transition period by three years to maintain export competitiveness and mitigate economic risks.

The Minister also urged the EU to begin early-stage discussions on a Free Trade Agreement (FTA), noting that the bloc remains Bangladesh’s largest export destination, particularly for the readymade garments (RMG) sector.

He briefed the EU officials on Bangladesh’s broader trade strategy, mentioning the concluded Economic Partnership Agreement (EPA) with Japan and ongoing negotiations with South Korea, Singapore and the UAE.

Addressing international standards, the Minister noted significant progress in labor sector reforms aligned with International Labour Organization (ILO) guidelines, confirming that an amended labor law would be enacted soon.

The EU delegation assured Bangladesh that the request for an LDC transition extension would be considered positively and expressed appreciation for the ongoing labor reforms.

Regarding the proposed FTA, EU officials stated the matter would be assessed following internal processes.

Both parties concluded the meeting by emphasizing the importance of transparency, fairness, and a level playing field, agreeing to maintain close engagement on future trade and investment initiatives.