Expressing deep concern over the suspension of the Generalised System of Preferences facility for Bangladeshi products on the US market, the Federation of Bangladesh Chambers of Commerce and Industry on Saturday requested the world’s biggest economy for withdrawal
of the suspension on humanitarian ground.In a statement, the FBCCI, the apex trade body of the country, said that the US decision, came at a time when the government has been taking various positive steps to improve working environment at the factories and ensure workers rights, was very unfortunate for Bangladesh.
The FBCCI apprehended that the decision of suspension of GSP facility would create image crisis of Bangladesh as well as put negative impact on the country’s export.
Though the US made the decision in the name of workers’ welfare, it will severely harm 40 lakh workers, mostly women, of readymade garment sector, the FBCCI said.
Considering the interest of workers, the US should withdraw its decision and retain GSP facility for Bangladeshi products, it said.
The apex trade body also hoped that foreign ministry, commerce ministry and Bangladesh embassy in Washington would play effective role in this regard.
It also urged all, irrespective of political ideology, to come forward for solving the crisis.
Foreign direct investment from the US to Bangladesh may also decline hampering overall economic development of the country due to the decision, the FBCCI stated.
It will also squeeze the expansion of trade between the US and Bangladesh, it said.
Though apparel products, the main export items of Bangladesh, are not included in the GSP scheme, many exportable products such as plastic goods and ceramics will lose special trade facility, the FBCCI said.
The FBCCI thinks the suspension of the facility will not only hit the export of the country, but also will create devastating impact on implementation of plans the government taken for socio-economic development in the country.
-With New Age input
