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PM urges EU to extend business facilities up to 6yrs for LDCs

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Prime Minister Sheikh Hasina. File photo

Prime Minister Sheikh Hasina urged the European Union (EU) to extend its business facilities (GSP+) for six years to help developing countries like Bangladesh improve their economies.

She said such a buffer zone is needed to smoothen the countries' journey towards prosperity after LDC graduation.

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"I request the European Union to extend its business facilities for six years instead of three years as least developed countries (LDCs) like Bangladesh have now been under pressure economically due to the Covid-19 pandemic and [Ukraine] war," Foreign Minister Dr AK Abdul Momen told a press briefing quoting the PM.

While briefing newsmen about Bangladesh PM's daily engagement in Brussels, he said the extension of business facilities will smoothen the journey of the LDC countries towards prosperity after LDC graduation.

She made the remarks after holding several bilateral talks with European Commission (EC) and European Union Bank (EIB) and European Parliament leaders.

The PM, who arrived in Brussels, Belgium on October 24 evening, attended a total of nine events including the opening plenary session of the Global Gateway Forum and other side events including bilateral talks.

Several bilateral talks were held with EU Commission President Ursula von der Leyen, Trade Commissioner and Executive Vice President of EC Valdis Dombrovskis, Commissioner for Crisis Management of the EC Janez Lenarcic, Vice-President of the European Parliament Nicola Beer, European Investment Bank President Dr Werner Hoyer and Commissioner for International Partnerships of the EC Jutta Urpilainen.