Trump’s early declaration to quit TPP to benefit Bangladesh: Tofail

Commerce Minister Tofail Ahmed on Tuesday said US President-elect Donald Trump's declaration to quit Trans-Pacific Partnership (TPP) trade deal helped Bangladesh a lot as the country was excluded from the bloc, reports UNB.
“Before taking oath, his declaration not to remain with TPP helped us. That's a good sign. Bangladesh will be benefited from the decision,” he told a function at the US Embassy in presence of US Ambassador Marcia Bernicat.
Donald Trump will be sworn in as US President on Friday, bringing an end to Barack Obama's eight years in office.
Trump earlier said the US will quit the Trans-Pacific Partnership trade deal on his first day in the White House.
The TPP trade deal was signed by 12 countries which together cover 40 percent of the world's economy.
The Commerce Minister hoped that Bangladesh will get other trade benefits in the US market through future negotiations with the new US government.
He said trade and business relations between Bangladesh and the United States are excellent though Bangladesh does not get duty- and quota-free market access to the US.  
Recalling the suspension of GSP benefit for Bangladeshi products, Tofail said, “That doesn't matter. Our entrepreneurs and businessmen are courageous. We can face challenges. We faced many challenges in the past but became successful.” 
The commerce minister hoped that Bangladesh will be able to attract more foreign direct investment, especially from the US, in the coming days, and AmCham will play a role in this regard.
The two-way trade, including exports and imports, between the two countries has grown from $ 1.5 billion in 1996 to nearly $ 7 billion in 2015.
 He also said Bangladesh is working to diversify its products to expand export market further.
 The US Embassy hosted the reception marking the 20th anniversary of AmCham in Bangladesh and opening of new chapter Coca-Cola's history in the country as its new bottling plant here will formally be opened on Wednesday.
 President, Asia Pacific Group of the Coca-Cola Company John Murphy and AmCham President Nurul Islam also spoke on the occasion.

 

Trumps early declaration to quit TPP to benefit Bangladesh: Tofail

Commerce Minister Tofail Ahmed on Tuesday said US President-elect Donald Trumps declaration to quit Trans-Pacific Partnership (TPP) trade deal helped Bangladesh a lot as the country was excluded from the bloc, reports UNB. Before taking oath, his declaration not to remain with TPP helped us. Thats a good sign. Bangladesh will be benefited from the decision, he told a function at the US Embassy in presence of US Ambassador Marcia Bernicat. Donald Trump will be sworn in as US President on Friday, bringing an end to Barack Obamas eight years in office. Trump earlier said the US will quit the Trans-Pacific Partnership trade deal on his first day in the White House. The TPP trade deal was signed by 12 countries which together cover 40 percent of the worlds economy. The Commerce Minister hoped that Bangladesh will get other trade benefits in the US market through future negotiations with the new US government. He said trade and business relations between Bangladesh and the United States are excellent though Bangladesh does not get duty- and quota-free market access to the US. Recalling the suspension of GSP benefit for Bangladeshi products, Tofail said, That doesnt matter. Our entrepreneurs and businessmen are courageous. We can face challenges. We faced many challenges in the past but becamesuccessful. The commerce minister hoped that Bangladesh will be able to attract more foreign direct investment, especially from the US, in the coming days, and AmCham will play a role in this regard. The two-way trade, including exports and imports, between the two countries has grown from $ 1.5 billion in 1996 to nearly $ 7 billion in 2015. He also said Bangladesh is working to diversify its products to expand export market further. The US Embassy hosted the reception marking the 20th anniversary of AmCham in Bangladesh and opening of new chapter Coca-Colas history in the country as its new bottling plant here will formally be opened on Wednesday. President, Asia Pacific Group of the Coca-Cola Company John Murphy and AmCham President Nurul Islam also spoke on the occasion.