Bangladesh has urged the European Union to keep a market reserved for certain products from the least developed countries (LDCs).

The EU showed its eagerness for special benefit for the LDCs by offering everything but arms (EBA) initiative but its objective could not be achieved due to stringent rules of origin, Commerce Minister Amir Khosru Mahmud Chowdhury told a seminar yesterday.

The EU should have a fresh look and come up with the idea of market protection for the LDCs to some extent, the commerce minister said. It can be one third for certain products as the LDCs are not in a level playing field with the developing and developed economies, he argued.

Khosru was speaking as chief guest at a session of a seminar on 'Trade issues between Bangladesh

and European Union - post 2004 perspective' jointly organised by Dutch-Bangla Chamber of Commerce and Industry and the National Press Club in Dhaka.

Bangladeshi exporters are facing an uneven competition in the global market as currencies of some countries are heavily undervalued, the commerce minister mentioned.

Sjef Ijzermans, Dutch ambassador to Dhaka, said phasing out of multi-fibre arrangement after 2004 would have a serious implications on Bangladesh.

"The Netherlands is very concerned about the negative effects of further freeing trade for the already vulnerable countries and their poor citizens," he mentioned.

Bangladesh needs to develop a strategic approach on how to tackle the challenges, Ijzermans said, adding the government needs to set up an enabling environment and the private sector needs to

develop the supply capacity.

ASM Quasem, vice president of International Chamber of Commerce-Bangladesh, said there is no uniformity of compliance issue. "Different types of compliance requirements are affecting Bangladesh exports."

Dr Mizanur Rahman Shelly, chairman of Centre for Development Research Bangladesh (CDRB), moderated the technical session while Alamgir Rahman, president of Dutch-Bangla Chamber of Commerce and Industry, chaired the closing session.

Earlier, Information Minister Tariqul Islam addressed in the inaugural session as chief guest.

Riazuddin Ahmed, president of National Press Club, chaired the inaugural session while Professor Hafiz GA Siddiqi, vice chancellor of North South University, made the keynote presentation on the seminar title.