The first ever Bangladesh-USA meeting held under the TICFA (Trade and Investment Cooperation Framework Agreement) concluded in Dhaka Monday with Washington asking Dhaka to do more in the areas of labour law reform and factory safety inspection to get the GSP (generalised systems of preferences) facility revived.
"We believe that there has been considerable progress in a number of areas and we are impressed by the direction it's heading. However, more needed to be done in terms of labour law reform and safety inspections," assistant United States Trade Representative (USTR) for South Asia Michael Delaney said at a joint press briefing held after the meeting at a local hotel.
On the Bangladesh demand for duty free access of Bangladesh products to the US market, Mr. Delaney said the issue is depended on the successful conclusion of the Doha round of the World Trade Organisation (WTO).
He, however, did not make it clear whether the facility could be offered through bilateral discussion.
Bangladesh and the US signed the TICFA deal on November 25 last year in Washington.
The USTR official parried a question as to how Bangladesh and the USA move forward with increased trade and investment amid an 'uncomfortable' political relation, as mentioned by Bangladesh finance minister AMA Muhith earlier.
Bangladesh commerce secretary Mahbub Ahmed said the first meeting reviewed various trade and investment issues between the two countries, the GSP Action Plan, market access of goods and services, US investment in Bangladesh, transfer of technology to Bangladesh, implementation of Bali Package, and progress in Istanbul Plan of Action,
He said the US side raised the issues including tariff on fire electrical and safety equipments, public tender specifications, double fumigation of cotton imported from the US, delayed payment, violation of intellectual property rights by Bangladesh, and regional cooperation.
The US also raised the labour and women empowerment issues, Mr Ahmed said.
Mr. Delaney termed the meeting as very productive, pragmatic and problem-solving one and said, "The purpose of TICFA is to boost US-Bangladesh trade and investment. We look forward to work together."
"This is a highly successful meeting. It's a great start. We look forward to working together', he said.
Replying to a query he said Bangladesh has been enjoying most favoured nation (MFN) treatment in the US like China.
Mr Delaney said Bangladesh's apparel export is not subjected to higher tariff than that of China or Vietnam. "The issue of paying higher tariff by Bangladesh is not correct", he said.
In the meeting Bangladesh side raised the issue of the country's vulnerability to the impacts of climate change.
"We have demanded of the US the duty free quota free access of apparel products to its market like the Sub-Saharan and the Caribbean countries and requested them to take into consideration Bangladesh's vulnerability to the climate change. The US side said they will take the issue under consideration," the commerce secretary said.
He said the US side also raised the issue of obstacle to investment in Bangladesh.
"We have informed the US team that the US investment in Bangladesh has declined and is now limited to a couple of sectors. They said they will work further on the issue in the future, Mr Ahmed added.
US Ambassador in Dhaka Dan W Mozena also spoke on the occasion. Bangladesh labour secretary Mikail Shipar and members of US TICFA meeting team were also present at the press conference.