European Parliament has highlighted Bangladesh’s remarkable economic growth at a conference in Brussels.
The event focused on various aspects, including Bangladesh’s role as the EU's main trading partner, the clothing industry's pivotal role, and the need for constructive dialogue and recognition of progress in the country, read a press release on Wednesday.
The conference was co-hosted by MEP Tomas Zdechovsky and Syed Mozammel Syed from Study Circle London which took place in the EU conference room.
It recognises the European Union's crucial role as Bangladesh's primary trading partner, accounting for 19.5 per cent of the country's total trade in 2020.
Speakers at the conference acknowledged the significance of the clothing industry as the key to Bangladesh's success.
Notably, Bangladesh's GDP increased from USD 53 billion in 2000 to USD 416 billion in 2021, largely due to the transformative impact of the clothing industry.
“This phenomenal growth marked an almost eightfold increase in just two decades,” summarised Tomáš Zdechovský.
Bangladesh's transition from an agricultural nation to a fully industrialized one, largely attributed to the clothing industry's success, was celebrated.
The conference noted that every part of Bangladesh has access to electricity, thanks to extensive investments in renewable energies.
Bangladesh's remarkable stability and rapid development were highlighted, positioning the country as a South Asian Tiger and a pillar of stability in the region.
“What Bangladesh achieved is remarkable. We need to celebrate the massive success,” added Zdechovský.
MEP Tomáš Zdechovský stressed the importance of constructive dialogue and expressed the need to appreciate and welcome the significant progress Bangladesh has made.
The conference emphasised the importance of building strong and reliable partnerships with Bangladesh instead of resorting to constant criticism. It was noted that continuous criticism may open the door for other global players to increase their influence in the region.
The discussion also touched on the forthcoming general elections in Bangladesh, considering them a pinnacle of democracy, with confidence that democracy will prevail.
The European Union's decision not to send an election observation mission to Bangladesh was seen as a sign of strong relations and high mutual trust, indicating a robust partnership built on trust and respect.
The conference provided a comprehensive overview of the positive trajectory of Bangladesh's economic growth, trade relations with the EU, and the need for fostering a constructive and trust-based dialogue.
The conference concluded with optimism for the upcoming general elections, highlighting the strength of democratic institutions in Bangladesh.
