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9/18/2023 6:39:56 AM

Bangladesh, US to hold Ticfa meeting on September 20

Bangladesh is set to request preferential market access from the United States during the seventh round of the Trade and Investment Cooperation Forum Agreement (Ticfa) meeting, scheduled for September 20 in Dhaka.

Commerce Secretary Tapan Kanti Ghosh will lead the Bangladesh delegation, while Acting Assistant US Trade Representative for South and Central Asia Brendan Lynch will head the US team.

The discussions will encompass a wide range of topics affecting the bilateral trade relationship, including market access, labor rights, digital trade policies, intellectual property protection and enforcement, and policies impacting the investment climate.

A senior official at the commerce ministry told Dhaka Tribune that Bangladesh would seek support to enjoy the trade benefits as an LDC, even after graduation to developing country status in 2026.

Bangladesh and the US signed the Ticfa to establish an annual forum to identify and address obstacles to increasing bilateral trade and investment on November 25, 2013. However, there have been no visible outcomes from the previous six Ticfa meetings.

The Ticfa was signed after Washington suspended the GSP privilege for the country in June, 2013 following the Rana Plaza disaster. Subsequently, the US rolled out a 16-point plan of actions to improve workers safety and labour rights.

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