3-day US trade show begins in city
Without duty- and quota-free access to the US market the TICFA agreement will be meaningless, said commerce minister Tofail Ahmed on Monday. He said that to become a middle-income country it was important to restore GSP facility in the US market. ‘Despite signing the TICFA our products are not getting GSP access to the US market. Without duty- and quota-free access the TICFA is meaningless,’ he said while inaugurating the 23rd US Trade Show at the Sonargaon Hotel in the capital.
Tofail said as per the World Trade Organisation’s decision Bangladesh was entitled to such facilities as a least developed country.
‘We are getting such facilities in European market but despite trying for a long time the US has not given us the access,’ he said.
He also said US is the largest market for Bangladesh in terms of single-country export.
Bangladesh in November last year signed Trade and Investment Co-operation Forum Agreement with the US for bilateral talks on labour and trade issues.
US ambassador to Bangladesh Dan Mozena said that the government has to play the key role to ensure investment-friendly environment.
He also said ensuring rule of law, reducing the influence of red-tape and removing the threat of political instability would create better situation for investment in the country.
‘In 10-15 years Bangladesh will be on the cover of TIME magazine for its economic growth,’ he sad.
He also said that country’s garment industry, pharmaceuticals, leather goods and shrimp would make their mark on the world market.
The three-day trade show is being jointly organised by American Chamber of Commerce in Bangladesh and US embassy.
A total of 43 US firms are participating in the trade show this year.
The show will remain open from 10:00am to 8:00pm. The entry fee is Tk 20, but students can enter free by showing their identity cards.
-With New Age input
