Foreign Minister Dipu Moni Wednesday said the Trade and Investment Cooperation Framework Agreement (Ticfa) is good for Dhaka and Washington, but it must ensure protection of interests of both the countries.
“Of course, Ticfa will be a good platform for Bangladesh, the US and trade expansion, provided we formulate the agreement in such a manner that it protects the interest of both the countries,” she said at a press briefing at the ministry.
“That is why we have long discussions. Otherwise, we can sign any agreement anytime. We have our interests, so does the US. So, all interests should be protected and that is why the negotiation is long,” she explained.
Ticfa is an official platform through which problems in trade and commerce of the two countries will be resolved, she said, adding: “The platform will surely have a positive role in trade between the countries.”
Bangladesh and the USA have engaged in negotiations for the agreement for the last few years.
The foreign minister, however, did not say anything about when the agreement might be signed.
“Without the approval of the cabinet, how can I say when it will be signed? It will be premature if I say it will be signed today or very soon,” Dipu said. “The government will make the decision only after the cabinet’s approval.”
She said US policymakers were concerned after the collapse of Rana Plaza.
“The concern of US policymakers has increased after the tragedy of Rana Plaza. We have apprised the US policymakers about the initiatives taken by the government, including the amendment of the Labour Law,” she said.
Dipu said she believed that the government had been able to convince them that Bangladesh had taken effective measures to ensure labour rights and workplace safety.
Regarding retention of GSP facility for Bangladesh, she said: “The response from them appeared to be positive.”
The foreign minister and Foreign Secretary Md Shahidul Haque visited Washington last week to pursue retention of the GSP facility.
Dipu Moni said export under the GSP facility was negligible, as it is much lower than 1% of the total export to the US.
“But even then continuation of the facility is important for Bangladesh because it is related to the image of the country. So, we want the GSP facility to continue. It is necessary to ensure that it does not have any adverse effect on other markets.
“Whatever needs to be done will be done in this regard,” she said.
On dialogue with political parties, the foreign minister, who is also the joint general secretary of the ruling Awami League, said: “The door is open for dialogue.
“Bangladesh Awami league, the government and the prime minister, all of us think that an amicable solution can be reached through dialogue.”