Success of Ticfa hinges on GSP restoration: Tofail
The Trade and Investment Cooperation Framework Agreement (Ticfa) with the United States would not be effective if Bangladesh does not get back the generalised system of preferences (GSP) in the US market, Commerce Minister Tofail Ahmed said yesterday.
Nothing but politics is responsible for not getting back the GSP although Bangladesh has met all the conditions, Ahmed told parliament while replying to queries of lawmakers.
“We've met all the 17 conditions and there is no logical reason why the trade benefit is not being restored,” he said.
The minister said the US representatives in recent meetings admitted that Bangladesh has made tremendous improvements in ensuring worker safety.
"They said Bangladesh has to do more but did not mention in which areas we should work. We don't know what improvement we have to make."
In June 2013, the US suspended the GSP for Bangladesh bringing back tariff on some of Bangladesh's exports to the US markets under the programme.
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