Kaja Kallas, the European Union’s High Representative for Foreign Affairs and Security Policy, and Khalilur Rahman, Bangladesh’s Minister of Foreign Affairs, initialled a new Partnership and Cooperation Agreement (PCA) on Monday 20 April.
This ambitious 82-article framework replaces the 2001 agreement, which focused primarily on development cooperation and trade. It covers and develops strategic areas such as political dialogue, security, energy and transport.
Based on shared commitments to democracy, human rights and climate action, the agreement makes Bangladesh the first country in South Asia to establish a ‘modern’ PCA with the EU.
The EU is currently Bangladesh’s biggest trading partner, with trade worth over €22 billion. The country also benefits from the ‘Everything But Arms’ regime, which abolishes customs duties and quotas for all imports of goods, with the exception of arms and ammunition.
This new pact now paves the way for formal signature and ratification in the near future, with a view to putting these strategic commitments into practice. (Original version in French by Justine Manaud)