Bangladesh retains the option to review and adjust its trade treaty with the United States in keeping with national interest, says Commerce Minister Khandaker Abdul Muktadir to dispel doubts.
The scope is inlaid in the agreement and so "there is no reason for concern", he told journalists Tuesday after a review meet with a visiting US trade team.
Speaking to the reporters following the meeting with Assistant US Trade Representative (USTR) for South and Central Asia Brendan Lynch at the Commerce Ministry, the minister underlines that international agreements are built on mutual understanding and shared benefit.
"Any international agreement is formed through coordination between two parties, ensuring a win-win situation by considering the interests of both sides. So there is no need for unnecessary concern over this agreement," he says about the much-hyped deal signed at the fag-end of the past interim government.
He clarifies that the current government did not initiate the agreement but inherited it from the interim government.
"A state-level agreement cannot be cancelled at will like a private contract. It is a reality, and we aim to utilise it to expand Bangladesh's trade and investment opportunities," he says.
Referring to a recent trade investigation initiated by the US side, Muktadir says Bangladesh had sought clarification and responded with its observations.
"We have clearly stated that it would have been more positive if such an investigation had not been initiated under the existing agreement framework," he notes.
Highlighting Bangladesh's trade structure, the trade minister rejects allegations of overcapacity or dumping.
He mentions the country position that it imports most of its goods, while exports -- particularly the readymade garments -- operate under strict international compliance standards.
"There is no scope for labour law violations or child labour in this sector," he says to confute any contention thereon.
On the possibility of cancelling the agreement, the minister emphasises that the government always prioritises national interest.
"If any provision of the agreement goes against Bangladesh's interest, there is room within the agreement itself to make necessary adjustments," he says, describing it as a "self-correcting element".
He reiterates that provisions for review and adjustment are embedded in the deal, and therefore, there is no reason for alarm.
The meeting also discussed ways to strengthen Bangladesh-US trade and investment relations, alongside other issues of mutual interest.
Commerce Secretary (acting) Md Abdur Rahim Khan was present, among others.
However, the Dr Muhammad Yunus-led interim government signed the Regional Trade Agreement (RTA) between Bangladesh and the United States on February 9 last -just three days before the national parliament election.
Meanwhile, the constitutional and legal validity of the RTA has been challenged in the country's High Court.
Lawyer Mohammad Maidul Islam Polok filed a public-interest litigation (PIL) petition to that end on May 4, with Advocate Subir Nandi Das representing him in court.
The secretaries of the ministries of foreign affairs, finance, and commerce have been named as respondents.
According to media reports, the agreement imposes 131 conditions on the Bangladesh side, while the US is required to meet only six.
The petitioner describes the agreement as "manifestly irrational and structurally unequal", arguing that it undermines Bangladesh's economic sovereignty.
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