The decision regarding ease on the suspension of Generalised System of Preferences (GSP) will be due in the first meeting on Ticfa, Commerce Minister Tofail Ahmed has hoped.
“We have signed the Ticfa for expansion of trade and investment with the United States,” Tofail Ahmed said in a meeting with foreign delegates on Sunday.
Bangladesh pays the second highest duty fees for export of ready-made garments in the United States at the moment, a handout of the information ministry said.
The first forum meeting of the Ticfa will take necessary decisions to establish a rightful share of Bangladesh within the agreement, Commerce Minister Tofail Ahmed said.
“Bangladesh has a big market of garments in the US. It is extremely necessary that we get duty free access to that market.”
“Bangladesh has learned much from the Rana Plaza disaster. No accidents took place during the last year. A good relation is prevailing between the workers and the owners at the moment.”
“The country will advance more in this sector in the future. The government will do everything necessary for the remaining existing problems.”
The minister was meeting a delegation of the United States Trade Representative (USTR), which is now in Dhaka for the first forum meeting. Senior commerce Secretary Mahbub Ahmed was present.
Bangladesh signed the Trade and Investment Cooperation Framework Agreement (Ticfa) with the US last year amidst stiff opposition from several left-leaning quarters.