BD may get further tariff cuts, reciprocal free market access

Bangladesh advances towards strengthening its mutually beneficial trade relationship with the United States, opening the door to greater market access and new opportunities for its vital textile and apparel sector.
A spokesperson for the interim government's Chief Adviser Office Saturday broke the news in Dhaka, following a follow-up trade negotiation with the United States in the US capital.

In response to a request from National Security Adviser Dr Khalilur Rahman, who is currently on a visit to Washington, DC, US Trade Representative Ambassador Jamieson Greer has agreed to raise with President Donald Trump the possibility of reducing Bangladesh's current 20-percent reciprocal tariffs to a rate commensurate with regional competitors'.
"Even more significantly, both sides have developed an innovative and forward-looking solution to support Bangladesh's export priorities," says the spokesman about the fresh tradeoff under a proposed preferential trade scheme.
Under a proposed preferential scheme discussed yesterday (Friday) by Dr Rahman and Ambassador Greer, Bangladesh would receive tariff-free access to the US market for textile and apparel exports equivalent to its imports of US-produced cotton and man-made fiber (MMF) textile inputs, measured on a square-meter basis, he adds.
"This creative, win-win approach strengthens bilateral trade, supports Bangladeshi manufacturers and workers, and deepens supply-chain ties with US producers," it is stated.
It reflects growing momentum and goodwill in US-Bangladesh economic relations and marks a promising new chapter for Bangladesh's global trade prospects, the government notes about the latest developments in the aftermath of the Trump tariff tempest which is roiling global trade order.
mirmostafiz@yahoo.com