Kazi Zahidul Hasan :
The political changeover in the USA by either Democrat Hillary Clinton or Republican Donald Trump would not matter the US foreign and trade policies with the least developed countries, including Bangladesh.
The US is expected to maintain the same policies even after a new president takes over the Oval office, according to business leaders.
“The US trade policy for Bangladesh will remain unchanged whoever becomes the new American President,” Aftab-ul-Islam, former President of the American Chamber of Commerce, Bangladesh, told The New Nation on Tuesday.
He said, the new administration may continue their present policy because the Americans give priority to the national interests. “As for example, Bangladesh may not gain extra benefit from a new US President unless it can exercise its economic diplomacy properly,” he added.
“The US President is not as powerful as we think. He has to face lot of barriers in the Congress while getting a policy/bill passed. The US Constitution maintains a check and balance system so that the chief executive does not become despotic,” said the business leader.
“The victory of Trump can put a potential hurdle for Bangladesh in reinstating its GSP facility scrapped following industrial disasters here. As he adopted a conservative trade policy to protect the US manufacturing sector and job creation, getting the GSP facility would be tougher under his presidency,” former FBCCI President Mir Nasir Hossain told The New Nation yesterday.
He has announced trade protectionism policy instead of trade liberalization policy which may affect Bangladesh’s export to the US market in case of imposition of additional customs duties.
“Such a measure, if he takes after becoming the US president, would adversely impact local shipments to the US, the single largest export destination for Bangladesh,” he added.
Bangladeshi goods are paying 15 per cent duties in entering the US market. Contrarily, many of our exporting competitors enjoy a lower duty facility under the GSP.
It has already created an uneven competition for us and a further duty imposition by the US authorities will affect the US-Bangladesh trade relations.
It is notable that Bangladesh exports goods worth five billion and imports products worth nearly one billion, transpiring that balance of trade is in favour of Bangladesh.
“No major policy shift is in the offing as Democrats and Republicans pursue a similar policy that aligned with the American interests, but not party interest,” Abdus Salam Murshedy, President of the Exporters Association of Bangladesh (EAB) told The New Nation yesterday
He said: “Our relations with the US will remain as usual as hinted the US Ambassador in Bangladesh on Monday”.
Murshedy said that the Obama policy as regards the GSP facility with Bangladesh will remain the same whoever becomes the new US President.
“The US has already excluded Bangladesh from the list of GSP eligible countries. Despite the fact, Bangladeshi exporters are doing well in this country as shipments are rising yearly basis,” Shahidullah Azim, former Vice-President of the BGMEA told The New Nation yesterday.
The main reason behind the GSP exclusion is political rather than safety issues when Bangladesh has already implemented workplace safety rules in factories as per the suggestions by the US authorities.
“Bangladesh may not get back the GSP facility suddenly though a new American President takes over as the US authorities are handling the matter with political motive,” he added.
