InvestmentNews

11 conditions from US in order to place more investment in Bangladesh

BTJ Desk Report
SHARE
11 conditions from US in order to place more investment in Bangladesh

Biden administration presented 11 conditions to Bangladesh under a “Bangladesh Labour Action Plan” aimed at enhancing labour rights and facilitating more US investment. These conditions include measures to prevent violence against union organizers, resolving criminal charges against labour activists, holding accountable those violating workers’ rights, and amending labour laws to align with international standards.

US also seeks revisions in Bangladesh’s labour rules and elimination of excessive restrictions on the right to strike. Bangladesh, in turn, has requested duty-free market access for goods, investment from the US International Development Finance Corporation, and simplified procedures for pharmaceutical product registration in the US. This follows a similar 16-point action plan presented by the Obama administration in 2013, which led to the suspension of Bangladesh’s Generalized System of Preferences status. Bangladesh has already submitted a progress report on complying with the 16-point conditions, but the GSP status is yet to be reinstated.

SHARE

Comment here