UNB, New York :
Prime Minister Sheikh Hasina on Monday said it is imperative that the USA should give Bangladesh duty and quota free access to its apparel market for paving the way for expansion of Bangladesh’s readymade garments (RMG) industry, women employment and empowerment and establishing a modern society.
“USA would then be as fair as the 52 other countries, like Australia, Canada, New Zealand, China, Japan, India and the European Union, that give Bangladesh duty and quota free access to their markets,” she said while speaking at the luncheon meeting hosted by the Business Council for International Understanding (BCIU) held at Hotel Waldorf Astoria where she has been staying during her tour. The Prime Minister also urged the US businesses and investors to come forward and partner with Bangladesh in this journey of mutual profits and prosperity to supplement Bangladesh’s strives towards becoming a mid-income country by 2021 and a developed country by 2041. “Importantly, such a worthwhile partnership would also strengthen our two countries’ friendship,” she added. Hasina said Bangladesh’s main export to the USA is apparel and this industry employs four million workers, of which 90 percent are girls from poor families.
Their earnings are helping their empowerment. She said their contributions now provide better nutritional food, allow children to go to schools, and give them a respectful voice at home. “Their empowerment is also helping reduce poverty, control population growth and increase literacy,” she added.
Hasina said, “Significantly, this trend is supporting our fight against extremism and terrorism by transforming our society into a progressive one. For these efforts to succeed, it is
vital for the US to give Bangladesh apparel duty and quota free access to its market. It would expand Bangladesh apparel industry, employ and empower more girls and help establish a modern society,” Sheikh Hasina said Bangladesh is ready for US investment in power, energy, especially renewable and green energy; shipbuilding and recycling; automobile and light engineering; chemical fertilisers; agro-processing; pharmaceuticals; ceramic and plastic goods; ICT; marine resources extraction’ tourism; medical equipment; telecommunications and knowledge-based high tech industries. She said many of these products would find duty free and quota free access to all the 52 countries giving Bangladesh these privileges. The Prime Minister said the relationship between the USA and Bangladesh has been moving to higher planes since she became Prime Minister in 2009.
“Today, our two countries have the best of relations. This is evident from the outcome of Secretary John Kerry’s recent visit to Bangladesh. Indeed, our strategic Partnership is getting broader and deeper with time. This growing relationship is reflected in our two countries’ business relations,” she said.
Sheikh Hasina said the American companies are still the largest investors. Last year, they invested half a billion or 25 percent of the total FDI to Bangladesh. In trade, the US is still the largest single country destination of Bangladeshi products. “Our two countries’ bilateral trade reached $ 7 billion last year. It could be more if the high tariffs and compliance issues on Bangladeshi apparel to US market were removed,” She said it should be as Bangladesh is an LDC adding that as many other LDCs do not have these protectionist measures imposed on them by USA. Instead, she regretted that the US in 2013 sadly suspended its GSP privileges to Bangladesh terming it an unkind act. Even sadder was when US in 2015 restored its GSP privileges to all South Asian countries, except Bangladesh.
Last year, Hasina said the total FDI into Bangladesh crossed two billion dollars for the first time. This indicates the confidence of foreign investors in Bangladesh, on its macroeconomic and political stability, and on its physical infrastructure development.
Prime Minister Sheikh Hasina on Monday said it is imperative that the USA should give Bangladesh duty and quota free access to its apparel market for paving the way for expansion of Bangladesh’s readymade garments (RMG) industry, women employment and empowerment and establishing a modern society.
“USA would then be as fair as the 52 other countries, like Australia, Canada, New Zealand, China, Japan, India and the European Union, that give Bangladesh duty and quota free access to their markets,” she said while speaking at the luncheon meeting hosted by the Business Council for International Understanding (BCIU) held at Hotel Waldorf Astoria where she has been staying during her tour. The Prime Minister also urged the US businesses and investors to come forward and partner with Bangladesh in this journey of mutual profits and prosperity to supplement Bangladesh’s strives towards becoming a mid-income country by 2021 and a developed country by 2041. “Importantly, such a worthwhile partnership would also strengthen our two countries’ friendship,” she added. Hasina said Bangladesh’s main export to the USA is apparel and this industry employs four million workers, of which 90 percent are girls from poor families.
Their earnings are helping their empowerment. She said their contributions now provide better nutritional food, allow children to go to schools, and give them a respectful voice at home. “Their empowerment is also helping reduce poverty, control population growth and increase literacy,” she added.
Hasina said, “Significantly, this trend is supporting our fight against extremism and terrorism by transforming our society into a progressive one. For these efforts to succeed, it is
vital for the US to give Bangladesh apparel duty and quota free access to its market. It would expand Bangladesh apparel industry, employ and empower more girls and help establish a modern society,” Sheikh Hasina said Bangladesh is ready for US investment in power, energy, especially renewable and green energy; shipbuilding and recycling; automobile and light engineering; chemical fertilisers; agro-processing; pharmaceuticals; ceramic and plastic goods; ICT; marine resources extraction’ tourism; medical equipment; telecommunications and knowledge-based high tech industries. She said many of these products would find duty free and quota free access to all the 52 countries giving Bangladesh these privileges. The Prime Minister said the relationship between the USA and Bangladesh has been moving to higher planes since she became Prime Minister in 2009.
“Today, our two countries have the best of relations. This is evident from the outcome of Secretary John Kerry’s recent visit to Bangladesh. Indeed, our strategic Partnership is getting broader and deeper with time. This growing relationship is reflected in our two countries’ business relations,” she said.
Sheikh Hasina said the American companies are still the largest investors. Last year, they invested half a billion or 25 percent of the total FDI to Bangladesh. In trade, the US is still the largest single country destination of Bangladeshi products. “Our two countries’ bilateral trade reached $ 7 billion last year. It could be more if the high tariffs and compliance issues on Bangladeshi apparel to US market were removed,” She said it should be as Bangladesh is an LDC adding that as many other LDCs do not have these protectionist measures imposed on them by USA. Instead, she regretted that the US in 2013 sadly suspended its GSP privileges to Bangladesh terming it an unkind act. Even sadder was when US in 2015 restored its GSP privileges to all South Asian countries, except Bangladesh.
Last year, Hasina said the total FDI into Bangladesh crossed two billion dollars for the first time. This indicates the confidence of foreign investors in Bangladesh, on its macroeconomic and political stability, and on its physical infrastructure development.
