Bangladesh to Join World's Top 30 Economies by 2030: EU Ambassador

Michael Miller, the European Union (EU) Ambassador to Dhaka, believes that Bangladesh could secure a place among the world's top 30 economies by 2030. According to him, alongside its rapidly growing economy, Bangladesh's strategic importance in the Bay of Bengal and the broader Indo-Pacific region is also on the rise.

He made these remarks on Sunday (October 4) during a working session on the second day of the ‘Bay of Bengal Conversation-2026,’ organized by the Centre for Governance Studies (CGS) in Dhaka.

According to Michael Miller, Bangladesh holds a pivotal position in South Asia, the Bay of Bengal, and the wider Indo-Pacific region. He opined that if the country can maintain its current economic momentum, it could join the ranks of the world's 30 largest economies by 2030.

The EU Ambassador noted that Bangladesh is currently navigating a crucial phase of development. Graduation from Least Developed Country (LDC) status, political transformation, the establishment of accountable institutions, economic pressures, and the risks posed by climate change are all significant challenges during this period.

Miller also highlighted the evolving nature of the relationship between the European Union and Bangladesh. He stated that the EU no longer views Bangladesh merely through the lens of a traditional donor-recipient relationship but regards it as a partner of growing strategic importance.

For a long time, the EU’s ‘Everything But Arms’ (EBA) trade facility has played a vital role in Bangladesh's export sector and economic progress. However, discussions are now underway regarding elevating the economic relationship between the two sides to a new level following the country's LDC graduation.

Miller mentioned that the European Union is exploring the possibility of a future bilateral Free Trade Agreement (FTA) with Bangladesh. He noted that such an initiative by the EU to discuss a future FTA with a country prior to the completion of its LDC graduation is exceptional.

However, he emphasized the importance of creating a favorable environment for business and investment to fully realize this potential. The EU Ambassador also highlighted the need to ensure a level playing field for European companies, robust institutions, and independent oversight mechanisms.

Michael Miller also spoke about the country's political and institutional reforms. In his view, the process of necessary constitutional reforms has yet to be completed. He remarked that a broad national consensus among political parties is required to advance this process.