Ticfa to open new horizon in BD-US trade, investment ties

Terming the Trade and Investment Cooperation Forum Agreement (Ticfa) as primary mechanism for the US and Bangladesh to discuss trade and investment issues, Michael J Delaney, head of the US delegation for the first meeting on Ticfa, Sunday said it will open new horizon for both the countries.

"Ticfa provides a forum to address important issues, such as -environment, intellectual property protection, workers' rights and safety, and economic empowerment of women," he said at a meeting.

Dhaka Chamber of Commerce & Industry (DCCI) and American Chamber of Commerce in Bangladesh (AmCham) jointly organised the meeting on the occasion of the first meeting on Ticfa in the city.

DCCI President Mohammad Shahjahan Khan presided the programme, while AmCham President Aftab ul Islam moderated it.

Mr Delaney, also the Assistant United States Trade Representative (USTR) for South and Central Asia, said Bangladesh matters greatly to the US, as it sets an important example in the region as a moderate and secular country.

"Besides, Bangladesh is the key to developing trade and economic corridors between South and South East Asia," he added.

The US delegation chief said for the betterment of Bangladesh's garment industry, there has to be safe factories, where workers are able to exercise their fundamental rights.

The factory owners or investors should be responsible for upholding the laws of Bangladesh. Some legal reforms are also needed to bring the laws into conformity with basic internationals standards, he added.

US Ambassador to Bangladesh Dan W Mozena said Ticfa has been signed after long 12 years of discussion.

"One of my dreams has come true following the Ticfa signing. It is now a reality and also the latest example of close relation between Bangladesh and USA," he said.

The AmCham president emphasised enhancing bilateral trade between Bangladesh and USA.

He also said in presence of the USTR representative the first meeting on Ticfa will be benefited for both the countries.

BGMEA president Atiqul Islam said about 5 million people are working in the garment industry in Bangladesh, and most of them are women.

He informed that the RMG entrepreneurs are now showing zero tolerance in abiding by the building code.

DCCI senior vice president Osama Taseer, directors Haider Ahmed Khan, Md. Iftekharuddin Naushad, Nessar Maksud Khan, Muktar Hossain Chowdhury, Hossain A Sikder, Abdus Salam, Md. Shoaib Choudhury and A K D Khair Mohammad Khan, former presidents R Maksud Khan, M H Rahman, Benajir Ahmed, Hossian Khaled, Abul Kasem Khan and Asif Ibrahim, and the executive members of AmCham were present in the meeting.