EU
EU reaches deal to ration gas amid Russian cut-off fears
European Union governments agreed Tuesday to ration natural gas this winter to protect themselves against any further supply cuts by Russia as Moscow pursues its invasion of Ukraine.
EU energy ministers approved a draft European law meant to lower demand for gas by 15% from August through March. The new legislation entails voluntary national steps to reduce gas consumption and, if they yield insufficient savings, a trigger for mandatory moves in the 27-member bloc.
European Commission President Ursula von der Leyen welcomed the move, saying in a statement that “the EU has taken a decisive step to face down the threat of a full gas disruption by (Russian President Vladimir) Putin.”
On Monday, Russian energy giant Gazprom said it would limit supplies to the EU through the Nord Stream 1 pipeline to 20% of capacity, heightening concerns that Putin will use gas trade to challenge the bloc’s opposition to the war in Ukraine.
“The winter is coming and we don’t know how cold it will be,” said Czech Industry Minister Jozef Sikela, whose policy portfolio includes energy. “But what we know for sure is that Putin will continue to play his dirty games in misusing and blackmailing by gas supplies.”
The ministerial agreement was sealed in less than a week. It’s based on a proposal last Wednesday from the European Commission, the EU’s executive arm. Keen to maintain a common EU front over a conflict that shows no sign of ending, the commission said coordinated rationing would enable the bloc as a whole to get through the winter should Russia stop all gas deliveries.
Read: EU prepared for Russian gas cut-off: von der Leyen
Since Russia invaded Ukraine in February and the West protested with economic sanctions, 12 EU countries have faced halts to, or reductions in, Russian gas deliveries.
Although it has agreed to embargo oil and coal from Russia starting later this year, the EU has refrained from sanctioning Russian natural gas because Germany, Italy and some other member states rely heavily on these imports.
“Germany made a strategic error in the past with its great dependency on Russian gas and faith that it would always flow constantly and cheaply,” said German Economy Minister Robert Habeck, who is also responsible for energy and serves as the country’s vice chancellor. “But it is not just a German problem.”
The disruptions in Russian energy trade with the EU are stoking inflation already at record levels in Europe and threatening to trigger a recession in the bloc just as it was recovering from a pandemic-induced slump.
The energy squeeze is also reviving decades-old political tests for Europe over policy coordination. While the EU has gained centralized authority over monetary, trade, antitrust and farm policies, national sovereignty over energy matters still largely prevails.
In a sign of this, the energy ministers scrapped a provision in the draft gas-rationing law that would have given the European Commission the power to decide on any move from voluntary to mandatory actions. Instead, the ministers ensured any decision on mandatory steps will be in member-state hands.
They also diluted other elements of the original proposal, including with exemptions for island countries.
Nonetheless, Tuesday’s deal marks another milestone in EU policy integration and crisis management.
The accord comes just six days after the commission rushed out the draft law — a stark contrast to past EU legislative initiatives in the area of energy that often involved months or years of negotiations among national governments.
In that respect, the new gas-rationing plan resembles developments in EU health policy two years ago when, amid the COVID-19 pandemic, member states agreed to act in unison. This included letting the commission negotiate agreements with pharmaceutical companies on the supply of vaccines to all 27 countries.
Bangladesh-EU ties to grow significantly in next 10 years: Whiteley
European Union (EU) Ambassador and Head of Delegation to Bangladesh Charles Whitely has hoped that Bangladesh-EU ties would grow significantly in the next 10 years.
The ambassador attended the programme "Meet the ambassador," hosted by the Centre for Governance Studies (CGS) in collaboration with Friedrich-Ebert-Stiftung (FES) Bangladesh Saturday.
Whitely noted that as Bangladesh is about to graduate from the least developed country (LDC) category, there will be changes in the country's current Everything but Arms (EBA) preferential trade agreement with the EU.
Bangladesh will gradually shift to the EU's Generalised Scheme of Preferences Plus (GSP+) trade programme, which gives developing countries a special incentive to pursue sustainable development and good governance.
Eligible countries have to implement 27 international conventions on human rights, labour rights, the environment, and good governance.
According to the ambassador, the EU delegation is now trying to develop political engagement with Bangladesh.
The EU is also interested in partnering with Bangladesh in the areas of security, maritime, energy, and climate change.
Read: Padma Bridge a symbol of pride for developing world: Hun Sen
Regarding the trade and economy of Bangladesh, Whitely said he is working to raise European investment in Bangladesh, which Whitely said is still low compared to European investment in other Asian nations such as Vietnam.
He also stated that the success of Bangladesh's apparel sector must continue, and the green factories of the country are the real selling point of it in the European markets.
Whitely also said, for Bangladesh, there is potential for upside in startups, the IT sector, and niche markets such as bicycle manufacturing.
Regarding Rohingya repatriation, the envoy said it needs to happen as soon as possible. "Myanmar has not been held accountable for its genocidal actions."
The EU placed sanctions on Myanmar and suspended development assistance.
Regarding geopolitics, the ambassador said the EU is hoping for a diplomatic solution to the war in Ukraine, and the current sanctions the EU has placed on Russia are in no way hurting the international food trade.
Read: Dhaka calls for strengthening global solidarity, adopting well-coordinated response to global challenges
Also, Whitely said the EU is interested in expanding its footprint in Asia through its Indo-Pacific strategy, in which Bangladesh is a key partner.
About the EU's current plan for providing independent observers during the next national elections, the ambassador said: "I can only say that I don't know. There is nothing decided at this moment, and it's still 18 months away."
The discussion started with an opening speech from Manjur A Chowdhury, chairman of CGS and chairman of the National River Protection Commission.
In his keynote speech, Whitely gave a brief overview of the EU and its functions.
The conversation was moderated by CGS Executive Director Zillur Rahman.
Gas prices in Europe increased sixfold in June - EU Commissioner
At the end of June, gas prices in Europe increased six times year-on-year and are still rising, Sputnik quoted European Commissioner for the Economy Paolo Gentiloni in a report on Thursday.
"Commodity prices are being showing signs of easing lately, in the face of global weakness; however, gas is an exception. Interruptions in Russian gas supply and concerns of the further cuts pushed the European benchmark gas up again. By end June it was trading at 140 euro per megawatt\hour – more than 6 times the price one year earlier. But this price continues to rise after our cut of date, reaching 173 euro per megawatt\hour on July the 12," Gentiloni said during a briefing.
Gentiloni also said that a complete halt in gas supplies from Russia would bring the European economy to "negative territory."
"This scenario (halt in Russian gas supplies) would bring our economy into negative territory, which is, with this carry-over impact, quite substantial, of course," Gentiloni added.
In mid-June, Russia's energy giant Gazprom significantly cut gas supplies via the Nord Stream 1 pipeline due to technical issues at the Portovaya compressor station, where only three gas compressor units were functioning after Germany's Siemens delayed maintenance works. Moscow repeatedly warned that further delays in the maintenance could lead to a total halt of gas flows through the pipeline network to Europe.
Read: EU’s new Global Gateway strategy offers new opportunities for Bangladesh-EU relations: Envoys
Earlier in the day, the pipeline's operator, Nord Stream AG, announced it would stop the deliveries for regular annual maintenance, including testing of mechanical components and automation systems. Maintenance is expected to take place between July 11 and 21. Some countries including Germany and Austria have expressed fears that the supplies may decline or halt even after the work is completed.
Since 2021, energy prices in Europe have been surging as part of a global trend. After the beginning of Russia's operation in Ukraine and the adoption of several packages of sanctions against Russia by the West, the situation with energy prices has considerably worsened.
EU releases €2 mn to support victims of floods in Bangladesh, India
The European Commission is providing €2 million in funding for emergency assistance to those affected by the current floods in Bangladesh and India.For Bangladesh, the EU has released € 1.2 million in humanitarian aid funding to people affected by the flooding in the north-east and northern regions of the country, according to message received here on Friday.The floods this year are considered worse than those experienced in 1998 and 2004.
Also read: IFC blames flood disaster on unplanned development Bangladesh and India’s Meghalaya, Assam For India, the EU provides € 800,000 in emergency assistance with a focus to support people in the most flood affected areas of the Assam state.The support will benefit affected and displaced people in the worst-hit regions of the two countries and it will be channelled through the EU's humanitarian aid partners on the ground.Commissioner for Crisis Management Janez Lenarcic said the severe monsoon and flooding in Bangladesh and India has left behind a trail of destruction.
Also read: Abdul Monem Ltd to provide support to flood affected people in Sylhet"With many people having lost their family members, homes, belongings and sources of livelihoods, the humanitarian situation is grave and expected to worsen in the upcoming days. This is why the EU has released €2 million in emergency funding to ensure our partners on the ground can provide support to those most in need.”
European Union leaders set to grant Ukraine candidate status
European Union leaders on Thursday are set to make Ukraine a candidate for joining the 27-nation bloc, a first step in a long and unpredictable journey toward full membership that could take many years to navigate.
Making Ukraine a contender now seems to be a done deal after national leaders were initially divided on how quickly to embrace the war-torn country’s request to become an EU member, which the Ukrainian government submitted only a few days after Russia invaded its neighbor on Feb. 24.
According to several diplomats who spoke on condition of anonymity before a leaders’ summit in Brussels, Ukraine will receive the unanimous approval required for candidate status and the launch of eligibility negotiations.
“This is a decisive moment for the European Union,” European Council President Charles Michel, the EU summit chair, said, describing the question of Ukraine’s candidacy “a geopolitical choice that we will make today.”
Members of the European Parliament endorsed Ukraine’s bid hours before the summit started, voting to pass a resolution that calls EU heads of state and government to “move without delay” and “live up to their historical responsibility.”
The EU’s 27 nations have been united in backing Ukraine’s resistance to Russia’s invasion, adopting unprecedented economic sanctions against Moscow. However, leaders were at first split on how quickly the EU should move to accept Ukraine as a member, with the Netherlands, Sweden and Denmark among the most skeptical.
Read: ‘It’s just hell there’: Russia still pounds eastern Ukraine
But Ukraine’s application got a boost last week when the EU’s executive arm, the European Commission, gave its seal of approval based on the country’s answers to a questionnaire received in April and early May.
Ukraine received another shot in the arm when the leaders of France, Germany, Italy and Romania visited the country and vowed to back its candidacy.
In another indication of how important EU candidacy is for Ukraine. President Volodymyr Zelenskyy said he spoke with 11 EU leaders on Wednesday, following calls with nine the day before. He said the meeting in Brussels will be an “historic session of the European Council.”
EU candidate status doesn’t give an automatic right to join the bloc, though, and doesn’t provide any security guarantees.
It’s unlikely that membership talks could start before next year, with the prospect of the war dragging on for a very long time adding to the uncertainty.
The beginning of the accession discussions depends on Ukraine meeting essential political and economic conditions.
To be admitted, potential newcomers need to demonstrate that they meet standards on democratic principles and absorb a gigantic corpus of rules. To help countries with candidate status, the bloc can provide technical and financial assistance throughout negotiations, but can also decide to revoke the status if the required reforms aren’t implemented.
European officials have said that Ukraine has already implemented about 70% of the EU rules, norms and standards, but they also have pointed to corruption and the need for deep political and economic reforms in the country.
Read: 100 days of Russia-Ukraine conflict – no quick end in sight
“Considerable efforts will be needed, especially in the fight against corruption and the establishment of an effective rule of law,” Belgian Prime minister Alexander De Croo said. “But I am convinced that it is precisely the (post-war) reconstruction of Ukraine that will provide opportunities to take important steps forward.”
Leaders will also debate Thursday a recommendation for the European Commission to grant Moldova — a tiny, non-NATO country that borders Ukraine — EU candidate status. A stalled process for moving Western Balkans countries on the membership path is also on the summit agenda.
EU leaders agree to ban 90% of Russian oil by year-end
European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support.
The embargo covers Russian oil brought in by sea, allowing a temporary exemption for imports delivered by pipeline, a move that was crucial to bring landlocked Hungary on board a decision that required consensus.
EU Council President Charles Michel said the agreement covers more than two-thirds of oil imports from Russia. Ursula Von der Leyen, the head of the EU's executive branch, said the punitive move will “effectively cut around 90% of oil imports from Russia to the EU by the end of the year.”
Michel said leaders also agreed to provide Ukraine with a 9 billion-euro ($9.7 billion) tranche of assistance to support the war-torn country's economy. It was unclear whether the money would come in grants or loans.
Mikhail Ulyanov, Russia’s permanent representative to international organizations in Vienna, responded to the EU’s decision on Twitter, saying: “As she rightly said yesterday, Russia will find other importers.”
The new package of sanctions will also include an asset freeze and travel ban on individuals, while Russia’s biggest bank, Sberbank, will be excluded from SWIFT, the major global system for financial transfers from which the EU previously banned several smaller Russian banks. Three big Russian state-owned broadcasters will be prevented from distributing their content in the EU.
Also read: Russians, Ukrainians fight block by block in eastern city
“We want to stop Russia's war machine," Michel said, lauding what he called a “remarkable achievement."
“More than ever it’s important to show that we are able to be strong, that we are able to be firm, that we are able to be tough,” he added.
Michel said the new sanctions, which needed the support of all 27 member countries, will be legally endorsed by Wednesday.
The EU had already imposed five previous rounds of sanctions on Russia over its war. It has targeted more than 1,000 people individually, including Russian President Vladimir Putin and top government officials as well as pro-Kremlin oligarchs, banks, the coal sector and more.
But the sixth package of measures announced May 4 had been held up by concerns over oil supplies.
The impasse embarrassed the bloc, which was forced to scale down its ambitions to break Hungary's resistance. When European Commission President Ursula von der Leyen proposed the package, the initial aim was to phase out imports of crude oil within six months and refined products by the end of the year.
Both Michel and von der Leyen said leaders will soon return to the issue, seeking to guarantee that Russia’s pipeline oil exports to the EU are banned at a later date.
Hungarian Prime minister Viktor Orban had made clear he could support the new sanctions only if his country’s oil supply security was guaranteed. Hungary gets more than 60% of its oil from Russia and depends on crude that comes through the Soviet-era Druzhba pipeline.
Von der Leyen had played down the chances of a breakthrough at the summit. But leaders reached a compromise after Ukrainian President Volodymyr Zelenskyy urged them to end “internal arguments that only prompt Russia to put more and more pressure on the whole of Europe.”
The EU gets about 40% of its natural gas and 25% of its oil from Russia, and divisions over the issue exposed the limits of the 27-nation trading bloc’s ambitions.
In his 10-minute video address, Zelenskyy told leaders to end “internal arguments that only prompt Russia to put more and more pressure on the whole of Europe.”
He said the sanctions package must “be agreed on, it needs to be effective, including (on) oil,” so that Moscow “feels the price for what it is doing against Ukraine" and the rest of Europe. Only then, Zelenskyy said, will Russia be forced to “start seeking peace.”
Also read: Russia takes small cities, aims to widen east Ukraine battle
It was not the first time he had demanded that the EU target Russia’s lucrative energy sector and deprive Moscow of billions of dollars each day in supply payments.
But Hungary led a group of EU countries worried over the impact of the oil ban on their economy, including Slovakia, the Czech Republic and Bulgaria. Hungary relies heavily on Russia for energy and can't afford to turn off the pumps. In addition to its need for Russian oil, Hungary gets 85% of its natural gas from Russia.
Orban had been adamant on arriving at the summit in Brussels that a deal was not in sight, stressing that Hungary needed its energy supply secured.
Von der Leyen and Michel said the commitment by Germany and Poland to phase out Russian oil by the end of the year and to forgo oil from the northern part of the Druzhba pipeline will help cut 90% of Russian oil imports.
The issue of food security will be on the table Tuesday, with the leaders set to encourage their governments to speed up work on “solidarity lanes” to help Ukraine export grain and other produce.
EU welcomes Dhaka’s 'openness' to intl election observers at next polls
The European Union (EU) has welcomed the "openness" of the Bangladesh government regarding an international election observation mission for the next general elections.
Bangladesh and the EU held their 10th Joint Commission meeting in Brussels on Friday, in a very "constructive and open" atmosphere, covering a wide range of issues of common interest.
The Joint Commission reviewed political developments on both sides and discussed the state of democracy, rule of law and governance, including the importance of holding free and fair elections, according to a message received here from the Bangladesh mission in Brussels.Bangladesh and the EU exchanged views on respective approaches to the advancement of the rights of minorities, the rights of women and children and to engagement on human rights in multilateral fora.The EU stressed that a vibrant civil society is an important component of democracy, raised concerns on human rights in Bangladesh, in particular reports of alleged violation of human rights and emphasized the need to ensure accountability for such violations.The EU also raised concerns regarding the issues of civic space and freedom of expression offline and online, notably in the framework of the Digital Security Act (DSA), noting the importance for legislation and its implementation in this area not to go beyond the stated purpose of fighting digital crime and to be in line with international Human Rights obligations.The EU emphasised that promoting and protecting human rights for all, regardless of ethnicity, age, gender identity, sexual orientation, religious or political affiliation, disability or socio-economic background is crucial for stability, economic growth and development.The EU stands ready to provide increased cooperation in view of Bangladesh’s next Universal Periodic Review in 2023.The Bangladesh side stated that the government is committed to guaranteeing human rights for all as enshrined in its constitution.
The government has a 'zero tolerance' policy against terrorism and violent extremism and highlighted the remarkable success of the security apparatus in this regard.The Bangladesh side also said that it values the nearly five-decade-long partnership with the European Union and appreciates objective and constructive observations.The EU and Bangladesh discussed governance, democracy, rule of law and human rights, the Rohingya crisis, economic and trade cooperation, migration, climate change, education, development cooperation and regional cooperation.
In this context, they looked forward to the first EU-Bangladesh Political Dialogue in Dhaka in June this year.Rohingya crisis
The EU reiterated its appreciation for the continued generous role and action of the people and government of Bangladesh in temporarily hosting more than a million Forcibly Displaced Myanmar Nationals (FDMNs) or Rohingya refugees for more than four years.Bangladesh thanked the EU for its political and humanitarian support in addressing this humanitarian catastrophe created by Myanmar.They both stressed the need for voluntary, safe, dignified, and sustainable return of the Rohingya to Myanmar, and the importance of continued delivery of essential assistance, support, and services.The EU raised the importance of providing perspectives to the largely young population of the forcibly displaced Rohingyas, especially in terms of health, education and livelihoods.Bangladesh welcomed the additional humanitarian aid announced on 20 May 2022 by the European Union to ensure life-saving support for hundreds of thousands of Rohingya and host communities in Bangladesh.Trade, labour rightsThe EU commended Bangladesh for its continuing success as the largest beneficiary of the EU’s Everything But Arms (EBA) unilateral preferential trade arrangement.It was recalled that EBA preferences are conditional on the respect of human rights, including labour rights, as reflected in the international conventions listed in the GSP Regulation.Sustained reforms of labour rights standards by the government of Bangladesh, and their full alignment with International Labour Organisation (ILO) Conventions are crucial in this regard.In this context, the EU welcomed the finalisation and publication of Bangladesh´s National Action Plan on the Labour Sector and stressed the need for its comprehensive implementation as per the stipulated timelines, for regular updates periodically on its implementation and for trying to advance the timelines of revising the labour law applicable in export-processing zones.Bangladesh reiterated the need for ensuring fair prices, especially in view of the investment being made in safer and greener factories.
EU releases additional €22mn in Bangladesh, Myanmar
The European Commission has announced an extra €22 million in humanitarian aid to ensure life-saving support for hundreds of thousands of Rohingya refugees and host communities in Bangladesh, as well as Rohingya and other conflict-affected people in Myanmar.The funding will address immediate needs, including protection services, food assistance, nutrition, health and shelter.Commissioner for Crisis Management, Janez Lenarcic, said the Rohingya crisis has reached unprecedented proportions and sustained international solidarity is essential to tackle the enduring humanitarian needs.
Read: Rohingya repatriation: Bangladesh seeks more support from Singapore, ASEAN"The EU's new aid package underlines our commitment to the most vulnerable refugees and their host communities in Bangladesh, as well as conflict-affected population in Myanmar".With this additional funding, EU humanitarian aid and disaster preparedness support in Bangladesh this year exceeds €41 million, with a focus on addressing the most pressing needs of Rohingyas and their host communities in the country, according to a message received here from Brussels on Friday.In Myanmar, EU humanitarian funding now totals over €27 million to respond to increased needs since the military take-over.In Bangladesh, over 919,000 Rohingya refugees live in with a majority located in congested Cox's Bazar refugee camps.
EU rushes out $300 billion roadmap to ditch Russian energy
The European Union’s executive arm moved Wednesday to jump-start plans for the 27-nation bloc to abandon Russian energy amid the Kremlin’s war in Ukraine, proposing a nearly 300 billion-euro ($315 billion) package that includes more efficient use of fuels and faster rollout of renewable power.
The European Commission’s investment initiative is meant to help the 27 EU countries start weaning themselves off Russian fossil fuels this year. The goal is to deprive Russia, the EU’s main supplier of oil, natural gas and coal, of tens of billions in revenue and strengthen EU climate policies.
“We are taking our ambition to yet another level to make sure that we become independent from Russian fossil fuels as quickly as possible,” European Commission President Ursula von der Leyen said in Brussels when announcing the package, dubbed REPowerEU.
With no end in sight to Russia’s war in Ukraine and European energy security shaken, the EU is rushing to align its geopolitical and climate interests for the coming decades. It comes amid troubling signs that have raised concerns about energy supplies that the EU relies on and have no quick replacements for, including Russia cutting off member nations Poland and Bulgaria after they refused a demand to pay for natural gas in rubles.
The bloc’s dash to ditch Russian energy stems from a combination of voluntary and mandatory actions. Both reflect the political discomfort of helping fund Russia’s military campaign in a country that neighbors the EU and wants to join the bloc.
Also Read: Fall of Mariupol appears at hand; fighters leave steel plant
An EU ban on coal from Russia is due to start in August, and the bloc has pledged to try to reduce demand for Russian gas by two-thirds by year’s end. Meanwhile, a proposed EU oil embargo has hit a roadblock from Hungary and other landlocked countries that worry about the cost of switching to alternative sources.
In a bid to swing Hungary behind the oil phaseout, the REPowerEU package expects oil investment funding of around 2 billion euros for member nations highly dependent on Russian oil.
Energy savings and renewables form the cornerstones of the package, which would be funded mainly by an economic stimulus program put in place to help member countries overcome the slump triggered by the coronavirus pandemic.
The European Commission said the price tag for abandoning Russian fossil fuels completely by a 2027 target date is 210 billion euros. Its package includes 56 billion euros for energy efficiency and 86 billion euros for renewables.
Von der Leyen cited a total funding pot of 72 billion euros in grants and 225 billion euros for loans.
The European Commission also proposed ways to streamline the approval processes in EU countries for renewable projects, which can take up to a decade to get through red tape. The commission said approval times need to fall to as little as a year or less.
Also read:Russian neighbor Finland announces it wants to join NATO
It put forward a specific plan on solar energy, seeking to double photovoltaic capacity by 2025 and pushing for a phased-in obligation to install solar panels on new buildings.
Simone Tagliapietra, an energy expert at the Bruegel think tank in Brussels, called REPowerEU a “jumbo package” whose success will ultimately depend on political will in the bloc’s national capitals.
“Most of the actions entailed in the plan require either national implementation or strong coordination among member states,” Tagliapietra said. “The extent to which countries really engage is going to be defining.”
The German energy think tank Agora Energiewende said the EU’s plan “gives too little attention to concrete initiatives that reduce fossil fuel demand in the short term and thereby misses the opportunity to simultaneously enhance Europe’s energy security and meet Europe’s climate objectives.”
The group’s research shows rapidly expanding solar, wind parks and use of heat pumps for low-temperature heat in industry and buildings could be done faster than constructing new liquefied natural gas terminals or gas infrastructure, said Matthias Buck, its director for Europe.
The European Commission’s recommendations on short-term national actions to cut demand for Russian energy coincide with deliberations underway in the bloc since last year on setting more ambitious EU energy-efficiency and renewable targets for 2030.
Those targets, being negotiated by the European Parliament and national governments, are part of the bloc’s commitments to a 55% cut in greenhouse gases by decade’s end, compared with 1990 emissions, and to climate neutrality by 2050.
Von der Leyen urged the European Parliament and national governments to deepen the commission’s July proposal for an energy efficiency target of 9% and renewable energy goal of 40% by 2030. She said those objectives should be 13% and 45%, respectively.
Belgium, the Netherlands, Germany and Denmark plan to build North Sea wind farms to help cut carbon emissions.
EU’s new Global Gateway strategy offers new opportunities for Bangladesh-EU relations: Envoys
The European Union’s new “Global Gateway” strategy - which is designed to deliver investment in sustainable, high quality projects in infrastructure and other linkages - affords new opportunities for Bangladesh-EU relations, said the EU envoys stationed in Dhaka.
There is much potential for increased investment by European businesses, particularly if the business climate can be further improved, according to a joint article written by the envoys to mark Europe Day and commemorate the vision of the then French Foreign Minister, Robert Schuman, who presented in 1950 a far-sighted blueprint to prevent war from happening again.
Read: US business delegation in Bangladesh to explore opportunities
At present, the European Union (EU) counts 27 Member States and 450 million citizens within its borders.
Ambassador and Head of Delegation of the EU to Bangladesh Charles Whiteley, Danish Ambassador Winnie Estrup Petersen, Chargé d'Affaires at the French Embassy Guillaume Audren de Kerdrel, German Ambassador Achim Troster, Italian Ambassador Enrico Nunziata, Dutch Ambassador Anne van Leeuwen, Spanish Ambassador Francisco de Asís Benítez Salas and Swedish Ambassador Alexandra Berg von Linde jointly wrote the article.