Dhaka appears to be ready to sign much talked about Trade and Investment Cooperation Framework Agreement (TICFA) with the United States, as it will be placed in the Cabinet meeting on Monday for approval. “According to the Cabinet meeting agenda for tomorrow (Monday), TICFA will be placed and it is highly likely that it will be approved by the Cabinet, paving the way for signing of the agreement,” according to a Commerce Ministry official.
Dhaka and Washington have been in negotiations for about four years to conclude TICFA, an official platform through which problems with regards to trade and commerce between the two countries would be resolved.
Following the approval of the Cabinet, both the countries will fix a convenient date for the signing of the agreement, said the official, adding that Bangladesh Commerce Secretary and Assistant US Trade Representative Michael Dellaney might sign the deal on behalf of their respective governments.
The TICFA was in the agenda of the Cabinet meeting on May 13, but it was not placed reportedly due to the absence of the Foreign Minister, Dr Dipu Moni.
At a press conference on May 22, Dipu Moni signalled positively when she said that the proposed TICFA would be good for Bangladesh as well as the United States with regard to expanding trade between the two countries.
However, she said that the agreement should be formulated in such a manner that interests of both Dhaka and Washington would be protected.
“TICFA is an official platform through which problems in trade and commerce will be resolved. Of course TICFA will be a good platform for Bangladesh and US and trade expansion provided we formulate the agreement in such manner that it will protect interests of the both the countries,” said the Foreign Minister.
“We have a long negotiation as to what will be included in the agreement. We have interest, so does the US. So all interests should be protected and that’s why the negotiation is long,” she said.
On the same day, US Ambassador to Bangladesh Dan Mozena told a press conference at the American Centre that TICFA would establish a forum of Bangladesh and US that would meet once a year to identify the obstacles and overcoming those.
US has such agreements 45-50 countries, he added.
About the signing of the agreement, Mozena said, “What I say to my friends in Bangladesh is if this is good for Bangladesh to have this forum, then let’s sign it. If it is not a good thing, Bangladesh should never sign it. We are ready to sign. But of course it takes two to sign.”
-With The Independent input
