Staff Reporter :
Commerce Minister Tofail Ahmed has said that Trade and Investment Cooperation Forum Agreement [TICFA] is totally worthless without Generalized System of Preferences [GSP] of the USA.
The minister made this observation while speaking as the chief guest at the inaugural session of a three-day long exhibition ’23rd US Trade Show 2014′ at a hotel in the capital on Monday.
US Ambassador Dan W. Mozena was also present at the inauguration ceremony as special guest. But he did not utter a single word about GSP or TICFA. “Bangladesh’s products are not receiving preferential access to the US market though Dhaka has signed TICFA with Washington. But the GSP facility is very important for Bangladesh if it wants to become a “mid-income” country,” Tofail Ahmed categorically said. American Chambers of Commerce in Bangladesh [AmCham] and US Consulate in Dhaka jointly organized the show where a total of 43 organizations are taking part. The trade show will continue till November 19 and it will be opened from 10:00am to 8:00pm everyday during the show. Entry fee of the show has been fixed Tk 20.
In June 2013, US President Barack Obama suspended GSP programme terming the workers’ condition dangerous and deadly especially in the clothing factories. GSP is a special trade privilege under which nearly 5000 categories of products can enter into the US market duty-free. “Our products are not receiving preferential access to the US market though we signed TICFA,” he said adding that “TICFA will become meaningless unless we get access to the US market.”
“According to the rules of the World Trade Organisation [WTO], Bangladesh must get GSP facilities. But, the country is not receiving any such facilities….The US is not giving Bangladesh any duty-free access facilities though the European Union countries, Japan and other developed nations provide Bangladesh preferential access to their markets,” the Minister said. Tofail called upon the US to take ‘positive steps’ regarding duty-free access of Bangladesh’s products to its market. ON the other hand, US envoy Dan W Mozena put emphasis on ‘creating a congenial atmosphere’ by the Bangladesh government to attract US investment. “Investment-friendly environment will be created if rule of law can be ensured, and corruption, red-tapism and political unrest can be stopped,” Mozena said.
He also insisted that the government would have to play the leading role in ensuring the rights of workers by improving working condition in the ready-made garment factories.
Referring to the American companies taking part in the US Trade Show, Ambassador Mozena said the US energy giants like Chevron and ConocoPhillips have been playing important roles in hydrocarbon exploration in Bangladesh. Besides, the Boeing Company, an American multinational corporation, is supplying aircraft to the Bangladesh Biman. “These American companies have been playing significant roles for the development of Bangladesh’s emerging economy,” he said. American Chambers of Commerce in Bangladesh [AmCham] and US Consulate in Dhaka jointly arranged the show where a total of 43 organizations are taking part. The trade show will be continued till November 19 and it will be opened from 10:00am to 8:00pm everyday during the show. Entry fee of the show has been fixed Tk 20.
