Ambassador of the European Union (EU) to Bangladesh Michael Miller on Tuesday expressed the EU’s intention to partner intensively with the European Union Chamber of Commerce in Bangladesh (EuroCham) EuroCham to maximise trade and investment.
He laid emphasis on exploring more B2B contacts, navigating the challenges of LDC graduation and promoting sustainable due diligence in supply chains, opening up the prospect of greater EU foreign direct investment (FDI) and a more diversified Bangladeshi economy.
The EuroCham was officially launched on Tuesday which is seen as a new milestone in EU-Bangladesh business relations.
The event was attended by senior government officials, including the Chief Adviser's special envoy on international affairs Lutfey Siddiqui, the Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud Bin Harun, the Chairman of the National Board of Revenue (NBR) Abdur Rahman Khan, representatives from the Ministry of Foreign Affairs, Commerce, Finance, and other Government authorities.
Also present were all EU Member States represented in Dhaka including the Heads of Mission from Denmark, France, Italy, Spain, and Sweden, consuls representing EU countries in Bangladesh, leading European companies, and local private sector leaders.
EuroCham is a business initiative that is actively supported by the European Union Delegation and the EU Member States in Bangladesh.
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The Chamber will serve as a centre of excellence, promoting business relations between European investors and their counterparts in the country.
It will facilitate dialogue between the private sector and key government stakeholders, such as BIDA, the Ministry of Commerce, and the National Board of Revenue (NBR) to improve the ease-of-doing business in Bangladesh.
EuroCham will advise European and Bangladeshi companies on the impact of upcoming EU legislation on their supply chains, - the corporate sustainability due diligence directive, textile strategy, circular economy, digital product passport, and eco-design for sustainable products, to name just a few.
With a view to facilitating Bangladesh’s green and digital transition, EuroCham will offer a platform for sharing know-how.
EuroCham Bangladesh will form part of the European Business Organisations (EBO) Worldwide Network that represents European business interests in over 54 key global markets. It caters to European multinationals, as well as micro, small, medium, and large enterprises, said the EU Embassy in Dhaka.
EuroCham Chairperson, Nuria Lopez, and the Board welcomed attendees, saying that the Chamber will focus on branding Bangladesh to attract more European investment; Europe not only brings capital but also a model of good governance and sustainable growth.