Trade AssociationNews

Dhaka to request Washington to restore GSP at 6th TICFA meeting

BTJ Desk Report
Dhaka to request Washington to restore GSP at 6th TICFA meeting

Dhaka will request Washington to restore the Generalized System of Preferences (GSP) for widening the market access of its products to the US – the single-largest export destination for Bangladesh, media reported citing sources from the commerce ministry.

Bangladesh will urge it at the 6th meeting of the Trade and Investment Cooperation Forum Agreement (TICFA), which will be held in Washington on December 06.

Moreover, Bangladesh may also place some proposals, including preferential market access of Bangladeshi products, simplified procedure for pharmaceutical product registration, tariff reduction for its RMG products and production sharing of cotton-based apparel items, sources told the media.

In addition, Bangladesh is expected to place a proposal at the bilateral meeting seeking support for building quality certification infrastructure.

On the other hand, the Washington side is expected to push for relaxing the provision for fumigation test of cotton from the USA at the port of entry, the sources mentioned.

Currently, Bangladesh is considering lifting the double fumigation test in importing the US cotton, a source said. It is the only country that imposes fumigation requirements for American cotton at the port of entry.

The USA will place the Bangladeshi labour issues, including labour rights in EPZs, child labour and forced labour, freedom of association and collective bargaining, and safe and healthy working environment, especially in export-oriented industries. It is supposed to propose some issues, including intellectual property, investment in Bangladesh, tree nut tariffs (walnuts, almonds), agricultural biotechnology and seed Act provisions.

Dhaka is also expected to urge Washington to extend the existing trade benefits Bangladesh now enjoys as the LDC, even after the country’s graduation to a developing country.

Currently, the US is the single largest export destination for Bangladeshi products with earnings worth over US$10 billion only from apparel items.


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