SUSPENSION OF GSP FACILITIESA
Ceramic, plastic, jute goods makers to take direct hit
Some export oriented industries like ceramic, plastic and jute goods would directly be affected by the US decision suspending Generalised System of Preferences facilities for Bangladesh as the sectors had been enjoying the facility when their products entered the US market.
People related to these sectors have expressed grave concern over the decision, saying that the government had to take effective measures to lift the suspension. Or else, these sectors would be severely affected, they said.
‘It was not fair that the US had punished all for the offence of few,’ said Bengal Plastic managing director Shahedul Islam.
President Barack Obama announced Thursday the suspension of US trade privileges for Bangladesh because of concerns over labour rights and worker safety that intensified after hundreds died in a series of disasters in the country’s garment industry.
‘As a big country US should have helped Bangladesh. But the decision would hamper our business,’ Shahedul observed.
The US decision might kill off market of plastic goods worth $3 million, Shahedul added.
If the suspension continues, the growth of the sector might turn to negative, he said.
There are some 5,000 small and heavy plastic makers in Bangladesh, which employ around 12 lakh workers.
Total earnings from plastic exports stood at $88.69 million in the fiscal year 2011-2012.
Shahedul, who is also a jute goods exporter, said that the opportunity of the export of jute diversified products would largely be hampered due to the US decision.
‘Enjoying the GSP facilities, I exported handmade jute carpets worth nearly $1 million to the US every year. But now I will have to pay
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-With New Age input
