RMG products: BD seeks two-year duty-free market access to US

[Black_cats]

RMG products: BD seeks two-year duty-free market access to US

Washington urged to play role in expedite Rohingya repatriation initiative

Published: May 13, 2020 12:07:17 | Updated: May 13, 2020 12:58:55

- Collected/ UNB

Bangladesh has sought a two-year duty-free access for its readymade garment products to the US market as the coronavirus pandemic put the major export-earning sector in trouble amid cancellations of global orders.

Foreign Minister Dr AK Abdul Momen made the request to the US government considering the current situation when he had a telephone conversation with US Deputy National Security Adviser Matthew Pottinger on Tuesday evening.

Dr Momen also sought US support so that no export order from Bangladesh is cancelled, UNB reports.


Bangladesh Garment Manufacturers and Exporters Association (BGMEA) claimed that over US$ 3 billion orders have been cancelled over the last couple of months.

International brands and buyers' business practices have been "questioned" amid cancellation of orders putting vast RMG workers in immense trouble though owners invested a lot in post-Rana Plaza incident bringing massive reforms.

Bangladesh, the top garment exporter in the world after China, is heavily dependent on European and American orders.

Bangladesh government and industry leaders started raising the issue of cancellation of orders by the international brands and buyers at various levels amid coronavirus crisis.

The Adviser of US President Donald Trump highly appreciated Bangladesh's role in dealing with the current situation, according to the Ministry of Foreign Affairs.

He assured Bangladesh of continuing US support to deal with the challenges of COVID-19.

Trump's Adviser also appreciated Bangladesh for accepting Rohingyas who floated at deep sea for weeks.

The Foreign Minister reminded that other countries in the region should also share the burden saying it is not the sole responsibility of Bangladesh to give them shelter.

He also urged other countries to take back over 1.1 million Rohingyas sharing responsibilities who have given shelter by Bangladesh.

The Foreign Minister sought strong role from the countries including the US in expediting the Rohingya repatriation initiative.

Trump's Adviser thanked Prime Minister Sheikh Hasina on behalf of the US President for her letter sent to Trump on the occasion of birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

Dr Momen urged the US to provide a special allocation for Bangladesh to ensure food security in the country amid coronavirus crisis.

The Foreign Minister also raised the investment issue and sought increased US investment in Bangladesh saying the country offers a good investment environment.

He mentioned about 100 economic zones being prepared in various parts of the country.

The Foreign Minister also sought US investment in the ICT sector saying some 28 IT parks are being built in Bangladesh.

About a question on Digital Security Act, Dr Momen said the mass media in Bangladesh enjoys much freedom compared to any other country.

He, however, said legal action will be taken as per law against those who will mislead people through misinformation, hate speech and instigating bad campaign.

Dr Momen said the US can import medical products, including medicines, from Bangladesh in a larger quantity, and mentioned that Bangladesh is now producing Personal Protective Equipment (PPE) and masks.

https://thefinancialexpress.com.bd/...year-duty-free-market-access-to-us-1589350037

 

[UKBengali]

Hope the US can facilitate this request.

 

[mmr]

Instead of reform keep begging. That wont save. Even in garments 80 percent items exports are few specific items. No diversities.

Long live LDC begging and duty free exports lol. We will definitely have a high income country by 2041.

Without improvement in ease of doing business and FDI in manufacturing we are heading toward economic disaster...poverty...massive unemployment...and lobor unrest...bankruptcy. definitely a "development model" world should follow lol.

 

[DalalErMaNodi]

Instead of reform keep begging. That wont save. Even in garments 80 percent items exports are few specific items. No diversities.

Long live LDC begging and duty free exports lol. We will definitely have a high income country by 2041.

I wouldn't call it begging, but I see your point.... BAL leadership is exactly what it says on the tin.

 

[mmr]

I wouldn't call it begging, but I see your point.... BAL leadership is exactly what it says on the tin.

It is nothing short of begging. But i can gurantee usa wont give any benefit to bd. We have nothing to offer in return.

 

[cloud4000]

If Bangladesh gets duty-free access for RMG then other countries will ask for the same facility. It's a slippery slope the current US government will not entertain.

 

[Arulmozhi Varman]

The only way is to promote internal consumption to lead growth.

 

[Nilgiri]

The only way is to promote internal consumption to lead growth.

Market is too small and underdeveloped and fact-insulated (for feelings of family and need for control/domination over the herd). One needs some mid-tier base to pull things there.

But they are literally using the energy level per capita that India and Pakistan did in the 50s and 60s.

It shows from space-based remote sensing clearly....as this is something their govt cannot concoct on paper. Everything else thats like that (i.e outside of their govt hands, like what do claimed countries ACTUALLY import compared to what BD media spouts about TVs, phones and motorbikes and whatnot) fact checks similarly.

This decade is going to be a pretty awful wake up call to BD shenanigans (and the blind faithful here that cling to it) of pushing inflation into GDP to borrow more with terrible stagnant credit rating and no basic sense to reform business-ease. Corona is what tipped this domino chain and house of cards, can wait and see.

This malaise already started to depress their small pharma exports by a whole 42% last year and RMG was also being affected (even though full 0% tariff afforded to them in developed countries and thus should be easy transfer each year from 130 billion chinese pie there since chinese/indians are tariffed at 8% and 16% levels). So think what is the incompetence needed by their govt to do that with that on offer to them....before corona.

Also imagine how bad things would be in TN if anna party didnt split into two and were (for a good chunk of decades now) forced to compete against each other (and instead stayed a complete corrupt monolith in an alt history)....to gain some perspective into this.

 

[Arulmozhi Varman]

Market is too small and underdeveloped and fact-insulated (for feelings of family and need for control/domination over the herd). One needs some mid-tier base to pull things there.

But they are literally using the energy level per capita that India and Pakistan did in the 50s and 60s.

It shows from space-based remote sensing clearly....as this is something their govt cannot concoct on paper. Everything else thats like that (i.e outside of their govt hands, like what do claimed countries ACTUALLY import compared to what BD media spouts about TVs, phones and motorbikes and whatnot) fact checks similarly.

This decade is going to be a pretty awful wake up call to BD shenanigans (and the blind faithful here that cling to it) of pushing inflation into GDP to borrow more with terrible stagnant credit rating and no basic sense to reform business-ease. Corona is what tipped this domino chain and house of cards, can wait and see.

This malaise already started to depress their small pharma exports by a whole 42% last year and RMG was also being affected (even though full 0% tariff afforded to them in developed countries and thus should be easy transfer each year from 130 billion chinese pie there since chinese/indians are tariffed at 8% and 16% levels). So think what is the incompetence needed by their govt to do that with that on offer to them....before corona.

Also imagine how bad things would be in TN if anna party didnt split into two and were (for a good chunk of decades now) forced to compete against each other (and instead stayed a complete corrupt monolith in an alt history)....to gain some perspective into this.

India is taxed at 16% wrt 8% for China? Really? I think when Tirupur cluster was expanding a lot but we gave in fta to bd eating our share of exports.

On topic wait till they shove on how their Walton is EU export company.

 

[Nilgiri]

India is taxed at 16% wrt 8% for China? Really? I think when Tirupur cluster was expanding a lot but we gave in fta to bd eating our share of exports.

On topic wait till they shove on how their Walton is EU export company.

No India and China are tariffed the same, I think those are the two rates depending on the (western country)...I have to look again.