The European Union (EU) has said it looks forward to engaging with the new administration in Bangladesh and supporting this critical transition.

It said the transition should be part of a peaceful and inclusive process underpinned by good governance, democratic values and respect for human rights.

"The EU welcomes the swearing-in of the members of Bangladesh's interim government, led by Nobel Prize laureate Muhammad Yunus, as they took their oath," said the EU High Representative Josep Borrell Fontelles in a statement received on Friday.

He said Bangladesh is now entering a period of transition and the interim government will have an important task to prepare the ground for democratic elections and ensure accountability for the deaths and violence that have occurred.

"This is an important moment for the country’s democratic path and the fulfilment of the aspirations of the people of Bangladesh and its youth," said the EU High Representative.

Nobel laureate and globally acclaimed economist Prof Muhammad Yunus was sworn-in as the chief adviser of the interim government on Thursday night bringing hope for a new journey towards Bangladesh’s democratic future.