Bangladesh and the United States will hold the second round of TICFA meeting in Washington today in which Bangladesh will highlight the progress in terms of RMG sector reforms in a bid to get back GSP benefit in the US market. Both sides will also explore areas to boost trade and investment between the two countries.

Senior Secretary of Commerce Hedayetullah Al Mamun and Assistant US Trade Representative for South Asia Mike Delaney will co-chair the Ticfa Forum meeting. On November 25, 2013, Bangladesh and the US had signed the Trade and Investment Cooperation Forum Agreement (Ticfa) to establish an annual forum to identify and address obstacles to increasing bilateral trade and investment. The first Ticfa meeting was held in Dhaka in April last year.

Bangladesh has so far submitted its progress report twice in line with 16-point US Action Plan for Bangladesh, to the United States Trade Representative, the Chief trade negotiator for the Obama administration. However, Bangladesh is yet to receive any positive response.

“We are trying to get duty-free entry for garment items to the US,” Commerce Minister Tofail Ahmed had told reporters while talking about the country's preparations to attend the 10th WTO ministerial conference in Kenya from December 15-18, 2015.

According to Ahmed, Bangladesh is one of the highest tax paying nations in the American market and the country's garment exports to the US have maintained buoyant growth. The higher rate of duty and suspension of trade privileges could not stop the growth of garment exports to the US. Ahmed, who is also the coordinator for the least-developed countries (LDCs) in the WTO summit, will lead the 19-member Bangladesh delegation.

Ustr.gov

Mincom.gov.bd