European Commission (EC) President Ursula von der Leyen has said that the European Union wants to continue its ongoing collaboration with Bangladesh and explore new avenues to build partnerships, including through a possible Comprehensive Partnership and Cooperation Agreement (CPCA).

"We remain open to discussing specific needs with sectoral partners and considering additional support that aligns with ongoing initiatives," she said in a letter to Chief Adviser Prof Muhammad Yunus on January 14.

The EC stated that there is substantial potential under the Global Gateway initiative for EU investments in secure and reliable networks and connectivity, including railways, water resources, climate adaptation, health, digital services, and energy.

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"In parallel, we are working with your administration to bolster the capacity of key institutions. We intend to maximise the impact of this work by integrating targeted technical assistance to support policy development and effective governance in these sectors, sharing EU experience where relevant," she added.

The EC expressed its interest nearly two and a half months after Bangladesh and the EU completed a two-day introductory meeting on the CPCA in the first week of November.

The meeting, originally scheduled for July 31, was postponed amid student-led protests that eventually led to the fall of the Awami League government on August 5.

The EU is the largest trading bloc for Bangladesh, accounting for more than 58 percent of its total exports each year, with zero-duty benefits under the EU's Generalised Scheme of Preferences (GSP) for Everything But Arms (EBA).

This benefit is expected to be phased out three years after Bangladesh graduates from the group of least developed countries, which is scheduled for late 2026.

Annually, Bangladesh exports more than $25 billion worth of goods to the EU, with garments contributing nearly $22 billion.

The EU alone accounts for more than 64 percent of Bangladesh's total apparel exports.

Bangladesh's garment exports to the EU grew 2.99 percent year-on-year to $18.15 billion in the January-November period of 2024, according to data from Eurostat.

Bangladesh is the second-largest garment exporter to the EU after China.

One in every three EU consumers wears Bangladeshi-made denim, a garment category in which Bangladesh has surpassed China in the EU over the last 10 years.