BD to seek duty, quota-free market access in TICFA meet in May

Bangladesh will press the US for allowing duty-and quota- free (D&QF) market access during the upcoming TICFA meeting in the capital on May 17, officials said.  
Besides, the country will also focus on getting back the generalised system of preferences (GSP) facility. The facility was suspended by the Barack Obama administration.
This will be the third meeting of the Trade and Investment Cooperation Forum Agreement (TICFA).
"We will discuss duty-free access to the US market and other issues," director general (DG) of the World Trade Organisation (WTO) cell of the ministry of commerce (MoC) Md Munir Chowdhury told the FE.  
"We will also request US officials to import more pharmaceutical products and invest in the special economic zones in the country," he said.  
He said there will be an inter-ministerial meeting this month to finalise the agenda to be discussed in the TICFA meeting.
A six-member delegation from the US along with other officials of the US embassy in Dhaka is expected to join the meeting, according to the MoC.
Apart from joining the TICFA meeting, the US officials will also discuss with government officials about sustainable compact regarding labour safety and rights in the readymade garment (RMG) sector.   
A high official of the ministry of labour told the FE that the government has already ensured workers' rights, improved working conditions and amended labour law.
The second TICFA meeting was held in Washington on November 23, 2015.
Bangladesh signed the agreement with the US in 2013.  
The TICFA provides a mechanism for both the governments to discuss trade and investment issues and areas of cooperation.
Bangladesh's exports to the US have been maintaining a steady growth even after suspension of the GSP because of quality garment products, according to the MoC.
The country's businessmen suggested the two countries should stress on making two-way trade more robust by increasing its volume in both ways.
"We expect to get back GSP benefit after the TICFA meeting," a leading businessman of the country told the FE.  
Bangladesh exported goods worth US $ 6.2 billion to the US during the fiscal year 2015-16. Of the amount, 80 per cent comes from the readymade garment sector. The country imported goods worth $ 761 million during the same fiscal, according to the MoC.  
    talhabinhabib@yahoo.com