France and Germany have expressed their readiness to support Bangladesh in diversifying its economy and preparing for the next phase of its development.
They made the commitment in a statement issued on Thursday, marking the 25th anniversary of the European Union's Everything But Arms (EBA) initiative.
"This landmark partnership has played an important role in transforming Bangladesh's economy and strengthening its position in global trade," said the French Embassy in Dhaka.
Over the years, duty-free and quota-free access to the European Union (EU) market has helped Bangladesh become one of the world's leading ready-made garment (RMG) exporters.
It has supported millions of livelihoods and created economic opportunities for women across the country.
"France and Germany, as two major European partners, have played an important role in this journey," the statement reads.
Today, both countries remain among Bangladesh's key European export markets, it said.
"Through bilateral trade, investment, development cooperation and private-sector engagement, we continue to contribute to the Bangladesh’s economic transformation," said the statement.
Bangladesh is now preparing for its next chapter of development.
With the postponement of the LDC graduation to November 24, 2029, Bangladesh will continue to benefit from the EBA scheme until 2032, including the three-year transition period granted by the EU.
"This is an opportunity, but time will pass quickly. Preserving market competitiveness beyond EBA will require continued and accelerated reforms," said the French Embassy.