The European Union and Bangladesh have initialled a Partnership and Cooperation Agreement, EU foreign policy chief Kaja Kallas and Bangladesh’s Foreign Minister Khalilur Rahman said.
The agreement sets out a framework for closer political, economic, trade and strategic cooperation, based on commitments including democracy, human rights, peace and security, climate action and sustainable development, the European External Action Service (EEAS) reported on Tuesday.
The text includes 82 articles and covers areas such as political dialogue, trade and investment, energy, transport, agriculture, migration, security, finance, maritime affairs and people-to-people exchanges.
Talks began in late 2024 and negotiations were finalised early this year, with the initialling opening the way for formal signature and ratification after procedures are completed by both sides.
Trade and existing ties
Bangladesh is the first South Asian country to conclude what the EU described as a “modern” Partnership and Cooperation Agreement with the bloc, the EEAS said.
Once in force, the new agreement would replace a 2001 Cooperation Agreement.
The EU and Bangladesh have had relations for more than 50 years, with development cooperation and trade among the main parts of the relationship.
The EU is Bangladesh’s largest trading partner and two-way trade now exceeds €22 billion.
Bangladesh has benefited since 2001 from the EU’s “Everything but Arms” arrangement — a trade scheme granting duty-free, quota-free access for exports to the EU except arms and ammunition.
