Bangladesh has resolved 48 of the 61 non-tariff trade barriers identified by the European Union, marking significant progress in strengthening bilateral trade ties, Commerce Minister Khandaker Abdul Muktadir said Sunday.

The remaining barriers are also being addressed, while preparatory discussions on a free trade agreement (FTA) and an investment protection agreement with the EU are expected to begin soon.

At a joint press briefing at the Ministry of Commerce, the minister said the issues were raised by an EU delegation led by Ambassador Michael Miller during a visit to Bangladesh in March. Following this, the National Board of Revenue (NBR), Ministry of Agriculture, Ministry of Fisheries and Livestock, Ministry of Shipping and other agencies worked together to resolve many of the problems.

Among the issues addressed were complications related to the renewal of licences for fully foreign-owned logistics companies, an increase in the annual import ceiling for commercial samples from $10,000 to $20,000, and customs valuation problems involving smart cards used for export product traceability.

EU Ambassador and Head of Delegation to Bangladesh Michael Miller said the European Commission had responded positively to Bangladesh’s formal proposals for an FTA and an investment protection agreement. Joint technical discussions could begin as early as this week once the necessary approvals from EU member states are completed.

He stressed the need for a transparent, stable and competitive business environment to deepen economic cooperation between the two sides. Greater transparency and fair competition in public procurement would benefit both Bangladesh and the EU, he added.

The commerce minister also said Bangladesh is seeking EU support for a proposed three-year extension of its LDC graduation timeline. He said recommendations from the UN Committee for Development Policy and the Economic and Social Council have been positive, and the issue is expected to be placed for a final decision at the 81st session of the UN General Assembly.

The EU’s strong support would be important for Bangladesh in this process, he said.

The EU ambassador also expressed optimism about accelerating discussions on the potential purchase of Airbus aircraft as part of efforts to expand aviation and trade cooperation between the two sides.

The proposed FTA could create new export opportunities for Bangladesh, particularly in readymade garments, processed agricultural products, pharmaceuticals and other promising sectors. Removing trade barriers could also boost bilateral investment and technological cooperation.

Both sides view the recent progress as an important step toward transforming their longstanding trade relationship into a more sustainable and mutually beneficial economic partnership.