GSP Plan of Action

US lauds Bangladesh progress

2ND TICFA MEETING

The United States has appreciated the progress so far made by Bangladesh on Sustainability Compact and Generalized System of Preferences (GSP) Plan of Action.
The US side also recognised the huge potential Bangladesh possess, and expressed optimism that US investors will come forward to explore the potential. The appreciation came at the second meeting under the Trade and Investment Cooperation Forum Agreement (TICFA) held on Monday in Washington DC.
At the meeting, Bangladesh has updated the United States on the progress made in terms of workers’ rights, Sustainability Compact and GSP Action Plan, said a press release forwarded by the Bangladesh Embassy in Washington yesterday. The meeting discussed wide range of issues including progress on workers’ rights, Sustainability Compact and GSP Action Plan, Investment Climate in Bangladesh, Transformation of Bangladesh, Market Access and Responsible Business Conduct, Istanbul Program of Action, Bali Package Implementation, Fair Pricing, TPP, Blue Economy, Infrastructure, etc .
Bangladesh urged USA for granting duty free-quota free access to Bangladeshi products as per Hong Kong Ministerial Declaration and Bali package adopted in Bali WTO Ministerial, and noted that AGOA discriminates between African LDCs and Asian LDCs, including Bangladesh.
They also voiced its concern regarding TPP (Trans-Pacific Partnership) that might adversely impact Bangladesh’s export to USA and some other TPP countries. Making a power-point presentation, the Bangladesh side delineated the huge transformation Bangladesh has undergone over the years making it a coveted destination for foreign investment, highlighted the congenial investment environment in Bangladesh underpinned by macroeconomic stability, increasing purchasing power, burgeoning middle class, fiscal and non-fiscal incentives for FDI , and establishment of Special Economic Zones.
The Bangladesh delegation, led by Commerce Secretary Hedayetullah Al Mamoon, comprised of Foreign Secretary Shahidul Haque, Labour Secretary Mikail Shiper and other officials from the Ministry of Commerce, Ministry of Foreign affairs and Bangladesh Embassy in Washington while the US side was headed by Assistant US Trade Representative Michel Delany.
The meeting decided to hold the next meeting of TICFA in Dhaka at a convenient time next year. On November 25, 2013, Bangladesh and the United States signed 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 2014.

GSP Plan of Action

US lauds Bangladesh progress

2ND TICFA MEETING

The United States has appreciated the progress so far made by Bangladesh on Sustainability Compact and Generalized System of Preferences (GSP) Plan of Action. The US side also recognised the huge potential Bangladesh possess, and expressed optimism that US investors will come forward to explore the potential. The appreciation came at the second meeting under the Trade and Investment Cooperation Forum Agreement (TICFA) held on Monday in Washington DC. At the meeting, Bangladesh has updated the United States on the progress made in terms of workers rights, Sustainability Compact and GSP Action Plan, said a press release forwarded by the Bangladesh Embassy in Washington yesterday. The meeting discussed wide range of issues including progress on workers rights, Sustainability Compact and GSP Action Plan, Investment Climate in Bangladesh, Transformation of Bangladesh, Market Access and Responsible Business Conduct, Istanbul Program of Action, Bali Package Implementation, Fair Pricing, TPP, Blue Economy, Infrastructure, etc . Bangladesh urged USA for granting duty free-quota free access to Bangladeshi products as per Hong Kong Ministerial Declaration and Bali package adopted in Bali WTO Ministerial, and noted that AGOA discriminates between African LDCs and Asian LDCs, including Bangladesh. They also voiced its concern regarding TPP (Trans-Pacific Partnership) that might adversely impact Bangladeshs export to USA and some other TPP countries. Making a power-point presentation, the Bangladesh side delineated the huge transformation Bangladesh has undergone over the years making it a coveted destination for foreign investment, highlighted the congenial investment environment in Bangladesh underpinned by macroeconomic stability, increasing purchasing power, burgeoning middle class, fiscal and non-fiscal incentives for FDI , and establishment of Special Economic Zones. The Bangladesh delegation, led by Commerce Secretary Hedayetullah Al Mamoon, comprised of Foreign Secretary Shahidul Haque, Labour Secretary Mikail Shiper and other officials from the Ministry of Commerce, Ministry of Foreign affairs and Bangladesh Embassy in Washington while the US side was headed by Assistant US Trade Representative Michel Delany. The meeting decided to hold the next meeting of TICFA in Dhaka at a convenient time next year. On November 25, 2013, Bangladesh and the United States signed 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 2014.