The European Union Chamber of Commerce in Bangladesh (EuroCham) has expressed concerns over the potential for unequal trade concessions as Bangladesh considers offering significant benefits to the United States.

In a press release issued on Wednesday, EuroCham highlighted the EU’s longstanding role as Bangladesh’s largest and most dependable trading partner, accounting for nearly half of the country’s total exports.

It also underscored the preferential duty-free and quota-free market access Bangladesh has received under the EU’s Everything but Arms (EBA) initiative since 2001.

The chamber noted that Bangladesh enjoys a substantially higher trade surplus with the EU compared to other partners, and cautioned against undermining this key economic relationship through unequal policy moves.

According to the press release, out of a total €22 billion trade in 2024, EU exports accounted for only €2 billion, resulting in a trade balance strongly favoring Bangladesh.

However, high tariffs and non-tariff barriers hinder EU companies’ efforts to do business with and export to Bangladesh.

In this regard, EuroCham encouraged the government to reaffirm its commitment to a rules-based trading system and pursue essential trade policy and customs reforms while ensuring fair and equitable treatment for all trading partners.

The chamber was ready to collaborate with the government on addressing current challenges and supporting a smooth and sustainable transition.