The wary exchanges traded over regarding Ticfa and GSP between the Commerce Minister and the US envoy to Dhaka would seem both amusing and baffling, narrated a leading economist of the country. A Tuesday report also clarified the same as the Commerce Minister defined signing Ticfa meaningless without duty-free access to America. A duty free market in USA is obviously one of the long-awaited rationale demands of Bangladesh. The country on several occasions urged the US administration to get market facilities under GSP program before signing Trade and Investment Cooperation Forum Agreement (Ticfa) in November last year. US President Barack Obama in June 2013 suspended the eligibility of Bangladesh for tariff benefits under the Generalized System of Preferences (GSP) program. Now the government is trying to fetch the GSP under Ticfa consideration, which seems impractical due to a major policy loophole in the dealing of foreign affairs with the other nations, the USA in particular.Ticfa is not a binding contract, rather it is a framework for establishing a forum between the US and Bangladesh to tap business and investment potentials of both countries. Ticfa will work to remove impediments to bilateral trade and investment, increase US investment, promote transfer of technological know-how in Bangladesh, upgrade labour rights according to ILO standards and make efforts to curb corruption.On the other, GSP is a program designed to promote economic growth in the developing countries or countries graduating from LDC status by providing preferential duty-free entry for up to 5,000 products when imported from one of 126 designated beneficiary countries and territories. The American government suspended the GSP for Bangladesh based on insufficient progress in affording Bangladeshi workers internationally recognized worker rights and non-fulfillment of other conditionalities.In July 2013, USTR provided Bangladesh with an Action Plan on workers’ rights and safety that, if implemented, could provide a basis for the US President to consider the reinstatement of GSP trade benefits. In the bilateral meeting following the Ticfa signing, Bangladesh shared its progress to-date on addressing the various elements of the Action Plan. But no action taken by Bangladesh is yet considered enough to meet the US demand to regain GSP.We are of the view that signing Ticfa was a politically considered deal with the US aiming at gaining extra support ahead of the January 5 elections. Let the market factors — push and pull or the demand and supply side mechanism — work freely. Still it is not be forgotten that Bangladesh is politically in a difficult position. Without democracy Bangladesh will not be a stable country. By destroying democracy we shall be helping violent extremists. Our politics of grabbing power is not mindful of the fact that terrorism grow where people are denied participation in governance. Bangladesh needs strong US role in Bangladesh.
