Bangladesh will press for duty free and quota free market access of its products to the US market and the restoration of GSP facility at the first TICFA meeting scheduled to begin in the capital today (Monday).”We will raise the issue of market access to the US market and restoration of GSP (Generalised System of Preferences) facility at the TICFA meeting,” Commerce Minister Tofail Ahmed told reporters after a meeting with the United States Trade Representative (USTR) team at his secretariat office yesterday. Assistant USTR for South Asia Michael J Delaney led the visiting team.Senior Secretary of the Ministry of Commerce Mahbub Ahmed and Assistant USTR for South Asia Michael J Delaney will co-chair the inaugural TICFA meeting at the Pan Pacific Sonargaon Hotel.Earlier, Bangladesh and the US signed the much talked about TICFA (Trade and Investment Cooperation Forum Agreement) on November 25, 2013 in Washington. The TICFA meeting was scheduled for April 7-8 last but it was postponed as both the countries were engaged in other businesses.Until the suspension of the duty-free access facility under GSP in June last, about 97 per cent of the products originating from Bangladesh used to enjoy duty-free entry into the US market.The agenda for the meeting will be the current status on the commitment made by developed nations in extending waiver in trade in services to least-developed countries like Bangladesh at the ninth ministerial meet of the World Trade Organisation held in Bali in December 2013.The US’ current investment position in Bangladesh and how it can be enhanced will also be discussed at the meeting. The US will raise the issues that include the review of bilateral trade, progress made with the GSP action plan and US investment in Bangladesh.The US also plans to discuss market access for goods and services, tariff structure of fire, electrical and structural equipment, as Bangladesh will have to import them to ensure workplace safety.The matters pertaining to public tender specification, insurance of labour, cotton, diabetic drugs, currency exchange and delayed payment and intellectual property rights might come up for discussion at the meeting.TICFA will also protect and promote our interests in areas of transfer of technology, compulsory licensing including in sectors like pharmaceutical ingredients, biotechnology, energy related technology transfer and others, and technical assistance for capacity building under the terms of the Intellectual Property (TRIPS) Agreement, according experts. “Bangladesh has to pay nearly 15.62 per cent duty on ready made garment (RMG) items to the US market,” the commerce minister said.On the other hand, he said, Vietnam pays 8.38 per cent duty on export of their products to the US market while Turkey 3.57 per cent, Germany 1.16 per cent, Hong Kong 1.25 per cent and India 2.29 per cent.The US suspended GSP facility to Bangladesh following the collapse of Rana Plaza on April 14, 2013 that had claimed lives of 1135 garment workers. The commerce minister said that the disasters of garment factories in Bangladesh were negatively projected in the world. “We have fulfilled most of the conditions out of 16 of the USTR for getting back GSP,” he said. About the comment of US Senator Robert Menendez that Western consumers will not buy clothes that are stained with the blood of Bangladesh’s workers the commerce minister said, “It is a matter of regret…unexpected. We are astonished. Mr Menendez did not visit Bangladesh… he does not know the real progress we have made in the RMG sector for the last one year”. Asked whether the finance minister’s comment could cast any impact on today’s (Monday) TICFA meeting, he said, “Bangladesh has earned its independence at the cost of blood. We will become a middle income country within the next four years.” The finance minister on Saturday last told the media that the US is not allowing duty and quota-free access to Bangladesh possibly on political grounds.”We had a fruitful meeting. We have the opportunities to increase our bilateral trade and investment through TICFA for our mutual benefits,” Assistant USTR for South Asia Michael J Delaney said. The country imported $712 million of goods from the US and exported goods worth $5.4 billion in 2013, according to data from the USTR. The US’ goods trade deficit with Bangladesh stood at $4.6 billion in 2013.Bangladesh paid nearly one-third of its export value to the US as duties. The country pays around $800 million each year as duty for entering its products to the US market.The country currently exports readymade garments worth $3.4 billion to the US and duties were being paid for one third of the products.
