BD seeks US cooperation for implementing Trade Facilitation Agreement

M Humayun Kabir: Bangladesh has sought the cooperation of the United States for implementation of the Trade Facilitation Agreement (TFA) to expand market access for Bangladeshi goods to the US market.
Bangladesh also made a special request for increasing duty-free market facilities in light of World Trade Organization’s Bali Ministerial decisions, according to a press release issued by the Bangladesh Embassy in Washington, reports The Daily Star.
The urge was placed at the 4th meeting of the Trade and Investment Cooperation Forum Agreement (TICFA) held in Washington DC on Thursday.
Bangladesh also requested the US to facilitate access of Bangladeshi nurses and midwives, and easy access to other service sectors in the USA.
Secretary to the Ministry of Commerce Shubhashish Bose led a 12-member Bangladesh delegation in the 4th TICFA meeting while the Assistant US Trade Representative for South and Central Asia Mark Linscott led the 20-member US delegation.
Deputy Assistant USTR for South and Central Asia Zeba Reyazuddin, Political/Economic Counselor at US Embassy in Dhaka Bill Moeller and other officials were on the US delegation.
Highlighting various steps creating favorable investment climate, Bangladesh side at the meeting sought more US investments in Bangladesh.
Besides, Bangladesh sought cooperation from the US side for trade preferences and fixing fair prices for Bangladeshi goods, technology transfer, trade related capacity building, digital economy and sustainable graduation of Bangladesh as a developing country.
On the other hand, the US side requested the Bangladesh delegation to notify the WTO Bangladesh’s draft rules of e-waste.
The US side also discussed expansion of US export to Bangladesh, particularly cotton and medicine, protection of intellectual property, government procurement and labor issue, the press release read.
It was informed at the meeting that the US is the single largest export market of Bangladesh and in 2017-18 fiscal Bangladesh exported goods worth US$ 5.98 billion to the USA while Bangladesh imported goods worth about US$ 1.70 billion.
Bangladesh and the USA signed the TICFA in November 2013 that provides a mechanism for both governments to discuss trade and investment issues and areas of cooperation.