Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 339 Thu. May 12, 2005  
   
Business


Duty-free Access to US Market
US lawmakers assure Dhaka of full support


Five US lawmakers have assured Bangladesh of their full support in getting duty-free access of textiles and other products to American market as a bill seeking the facility is placed in Congress.

The assurances came when Finance and Planning Minister M Saifur Rahman had meetings with the US lawmakers on Tuesday, seeking their support to the bill entitled "Trade Relief Assistance for Developing Economies (Trade)".

"Bangladesh's exports to the US market are facing stiff competition from other larger exporters as a result of the end of quota system," he told the lawmakers, requesting their support to the Trade Act 2005.

According to a message received here yesterday, he met leading Senator John Sununu and Congressmen Joseph Crowley, Barney Frank, Gary Ackerman and Jim Mcdermott.

Saifur apprised the lawmakers of the country's economic and social progress achieved, despite problems of overpopulation and recurring natural disaster, as well as government's sincerity in improving governance, particularly in terms of improvement in law-and-order situation.

"The government has increased expenditure on law enforcement by 200 percent in the last nine months," he said, also informing them about progress so far made in investigating the killing of former finance minister of Bangladesh SAMS Kibria.

Appreciating Bangladesh's support to war on terrorism, John Sununu assured the minister of his careful consideration for the Trade Act. The congressmen also assured him of their full support in this regard, said the communiqué.

Commerce Minister Altaf Hossain Chowdhury had expected early this month that the bill would be passed within this year.

The Trade bill is seeking duty-free market access of products from Bangladesh and 12 other least developed countries (LDCs) to the US market.

The government as well as the Bangladesh Garment Manu-facturers and Exporters Association (BGMEA) are now busy pursuing US senators and congressmen for their support to the bill.

Apparel industry insiders believe the bill, if passed, will be a breakthrough in boosting the country's export to the USA in the quota-free trade regime.