Badrul Ahsan :
The government is mulling up a plan to press the USA authority during the TICFA meeting scheduled to be held in Dhaka next month for duty and quota- free access of local goods to its market, sources said.
Sources at Foreign Ministry said that the country already ensured improved workers’ rights, better working conditions and amended labour law which were the prime demands of the counterpart to restore duty and quota- free access of local goods to the US market.
“We have prepared an agenda for discussion in the upcoming Trade and
Investment Cooperation Forum Agreement (TICFA) meeting where demand for duty and quota- free access of local goods will be one of the important points of discussions,” a high official of MoFA told The New Nation preferring anonymity.
“We strongly believe that the US authority will acknowledge our improvement and accept our demand,” he added. However, the country has also planned to give focus on getting back the generalised system of preferences (GSP) facility.
The facility was suspended by the Barack Obama Administration citing substandard workers’ rights, poor working conditions and anomalies in labour law. In view of this, the government took a set of proactive initiatives to reform with a view to regaining the GSP facility. “We will discuss duty-free access to the US market and other issues,” Director General (DG) of the World Trade Organisation (WTO) cell of the Ministry of Commerce (MoC) Md Munir Chowdhury told The New Nation. “We will also request US officials to boost US investment in the special economic zones in the country,” he said.
The government has already ensured workers’ rights, improved working conditions and amended labour law. So the US government should be judicious. Meanwhile, a six-member high powered delegation from the US and other officials of the US embassy in Dhaka are expected to join the meeting, according to the MoC.
Apart from joining the TICFA meeting, the US officials will also discuss with government officials about sustainable compact regarding labour safety and rights in the readymade garment (RMG) sector. This will be the third meeting of the TICFA. The second TICFA meeting was held in Washington on November 23, 2015.
Bangladesh signed the agreement with the US in 2013.
The TICFA provides a mechanism for both the governments to discuss trade and investment issues and areas of cooperation. Bangladesh’s exports to the US have been maintaining a steady growth even after suspension of the GSP because of quality garment products, according to the MoC.
The country’s businessmen suggested the two countries should stress on making two-way trade more robust by increasing its volume in both ways.
“We expect to get back GSP benefit through the TICFA meeting,” a leading businessman of the country told The New Nation. Bangladesh exported goods worth US $ 6.2 billion to the US during the fiscal year 2015-16.
Of the amount, 80 per cent sprang from the readymade garment sector. The country imported goods worth $ 761 million during the same fiscal, according to the MoC.
The government is mulling up a plan to press the USA authority during the TICFA meeting scheduled to be held in Dhaka next month for duty and quota- free access of local goods to its market, sources said.
Sources at Foreign Ministry said that the country already ensured improved workers’ rights, better working conditions and amended labour law which were the prime demands of the counterpart to restore duty and quota- free access of local goods to the US market.
“We have prepared an agenda for discussion in the upcoming Trade and
Investment Cooperation Forum Agreement (TICFA) meeting where demand for duty and quota- free access of local goods will be one of the important points of discussions,” a high official of MoFA told The New Nation preferring anonymity.
“We strongly believe that the US authority will acknowledge our improvement and accept our demand,” he added. However, the country has also planned to give focus on getting back the generalised system of preferences (GSP) facility.
The facility was suspended by the Barack Obama Administration citing substandard workers’ rights, poor working conditions and anomalies in labour law. In view of this, the government took a set of proactive initiatives to reform with a view to regaining the GSP facility. “We will discuss duty-free access to the US market and other issues,” Director General (DG) of the World Trade Organisation (WTO) cell of the Ministry of Commerce (MoC) Md Munir Chowdhury told The New Nation. “We will also request US officials to boost US investment in the special economic zones in the country,” he said.
The government has already ensured workers’ rights, improved working conditions and amended labour law. So the US government should be judicious. Meanwhile, a six-member high powered delegation from the US and other officials of the US embassy in Dhaka are expected to join the meeting, according to the MoC.
Apart from joining the TICFA meeting, the US officials will also discuss with government officials about sustainable compact regarding labour safety and rights in the readymade garment (RMG) sector. This will be the third meeting of the TICFA. The second TICFA meeting was held in Washington on November 23, 2015.
Bangladesh signed the agreement with the US in 2013.
The TICFA provides a mechanism for both the governments to discuss trade and investment issues and areas of cooperation. Bangladesh’s exports to the US have been maintaining a steady growth even after suspension of the GSP because of quality garment products, according to the MoC.
The country’s businessmen suggested the two countries should stress on making two-way trade more robust by increasing its volume in both ways.
“We expect to get back GSP benefit through the TICFA meeting,” a leading businessman of the country told The New Nation. Bangladesh exported goods worth US $ 6.2 billion to the US during the fiscal year 2015-16.
Of the amount, 80 per cent sprang from the readymade garment sector. The country imported goods worth $ 761 million during the same fiscal, according to the MoC.
