Duty-free access not without Ticfa

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FE Report
US ambassador in Bangladesh Dan W Mozena Saturday suggested finalization of the Trade and Investment Cooperation Framework Agreement (Ticfa) between Bangladesh and his country and said Bangladesh would not get duty-free access of its products to US market unless Ticfa was signed.
Mozena said it is the US Congress that takes decision on granting the Generalised System of Preference (GSP) facility and duty-free market access of products of other countries to US market.
"The US Congress has the right to take the decision in this regard. So, telling the envoy for duty-free access to US market is just waste of time," he told a discussion on "Bangladesh-USA Bilateral Trade: The way forward" organaised by Dhaka Chamber of Commerce and Industry (DCCI) in its conference room.
He said Bangladesh has the potential to become a leading readymade garments (RMG) exporter of the globe within the next fifteen years.
"Bangladesh could become number one RMG exporter in the world market within the next fifteen years," he added.
He told the Bangladesh business leaders that Ticfa issue be resolved through 'political process.'
On the cancellation of Padma bridge loan by the World Bank (WB), he said, "I am very disappointed. The government of Bangladesh and the WB could not find ways to resolve the issue".
The ambassador said Padma bridge is important for 15 million people of the country's south and western regions and also for the South Asian region.
He highlighted that Bangladesh had enormous opportunities in the ship building, pharmaceuticals, leather and leather goods, IT, frozen food, jute and jute goods, and silk industry.
He also stressed on maintaining international standard in terms of quality of Bangladeshi products.
Mozena said to attract more foreign direct investment (FDI), Bangladesh has to improve its port facilities, communications and transportation system, including rail, infrastructure, energy and power generation. Besides, he said, it will have to restore transparency and reduce corruption.
Terming Bangladesh a country of possibilities, he said that with proper education people here could have been converted into skilled manpower.
He also urged for proper utilisation of natural resources like gas and coal, saying that he wants to see Bangladesh as the 7th largest economy in the world, not only as the 7th largest populated country.
He further stressed on making a positive image of Bangladesh in the world and called upon Bangladeshi people to come forward to make it happen.
The US envoy laid emphasis on utilising the geographical advantages of Bangladesh in trade and commerce. He suggested all concerned to be more conscious about the labour unrest in the RMG sector.
He said that the US Embassy is working hard to issue visa for Bangladeshi businessmen within the shortest possible of time.
DCCI President Asif Ibrahim, in his presentation, highlighted that the RMG sector of Bangladesh is not included in the GSP facilities list of the USA. He also said that different international brands of USA may import garments in a cheaper rate from Bangladesh.
He said the current negotiation on Ticfa should be conducted in such a way so that both the countries are benefited equally under the umbrella of a forum that looks into each other's trade issues in win-win position.
"The Ticfa issue should also be discussed with the private sector in order to make it more transparent and business friendly," he added.
President of American Chamber of Commerce in Bangladesh (AmCham) Aftab-ul Islam said that Bangladesh and the USA maintain a historic and friendly bilateral relation.
He called upon the US investors to invest in the infrastructure, power and energy sectors of Bangladesh. He said all should be responsible to enhance the bilateral trade between these two countries.
DCCI Senior Vice President Haider Ahmed Khan, FCA offered vote of thanks.
DCCI Directors Waqar Ahmad Choudhury, Khairul Majid Mahmud, former Presidents Benajir Ahmed, Hossain Khaled, former Senior Vice Presidents Al-hajj Abdus Salam, MS Shekil Chowdhury, Senior Research Fellow of CPD Dr Golam Moazzem, Dr Ferdousi from Ferdousi Biotech Ltd., among others, were present.