DHAKA: The newly established European Union Business Council Bangladesh (EUBCB) held its first meeting in Dhaka on Wednesday aimed at identifying the obstacles to trade and investment between the EU and Bangladesh.

In a press release, European Union’s delegation to Bangladesh, said the main mission of the EUBCB is to identify the obstacles and then support after discussions with the Government of Bangladesh and other stakeholders on the ways and means to strengthen the economic relations.

Among the topics addressed on this occasion were the difficulties faced by the EU-based businesses to develop their activities in Bangladesh, be it in terms of trade or investment.

The conclusions of this first EUBCB meeting will be shared with the representatives of the Government of Bangladesh on 27 February when the "Trade Sub-Group" of the EU-Bangladesh Joint Commission will meet in Dhaka.

This first meeting, chaired by the EU Ambassador to Bangladesh, Mr. Pierre Mayaudon, saw the participation of all eight Ambassadors of the EU Member States based in Dhaka or their Chargés d'Affaires a.i. and Trade Counsellors, as well as representatives from the bilateral Chambers of Commerce.

The EUBCB will therefore complement the bilateral activities of the EU Member States and their Chambers of Commerce which are also engaging in trade promotion, the release added.

The EU as a single market of 28 countries where the Bangladeshi products enjoy a duty-free and quota-free access under the GSP/EBA regime is the world largest trading partner of Bangladesh.

However this trading status has yet to develop into a global and matured economic relation.

BDST: 1620 HRS, FEB 04, 2015