A new business council aimed at improving trading relations between the European Union and Bangladesh has been established.

The European Union Business Council Bangladesh (EUBCB) held its first meeting in Dhaka today (4 February), chaired by the EU Ambassador to Bangladesh, Pierre Mayaudon.

The main mission of the new body is to identify obstacles to trade and investment between the EU and Bangladesh, and to support the EU in discussions with the Bangladeshi government and other stakeholders on ways to strengthen economic relations.

Its workings are designed to complement the bilateral trade promotion activities of EU member states and their Chambers of Commerce.

The EU pointed out that the EU was the largest global trading partner of Bangladesh, but said this status “has yet to develop into a global and matured economic relation”.

Among the topics addressed at the first meeting were the difficulties faced by European businesses to develop their activities in Bangladesh, in terms of both trade and investment.