Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 605 Thu. February 09, 2006  
   
Business


Give Bangladesh RMG free access to US
FM urges Washington as US Trade Show 2006 opens


Foreign Minister M Morshed Khan yesterday urged the US to provide Bangladesh's some of readymade garment products with duty-free access to its market.

"In view of WTO ministerial in Hong Kong it is of paramount importance for Bangladesh to get at least some of her readymade garment products included on the list of 97 percent items that will be allowed duty-free access to US," the foreign minister said.

The minister was addressing the inaugural session of the 15th US Trade Show 2006 at Dhaka Sheraton Hotel. Judith A. Chammas, US charge d'Affairs to Bangladesh, Andrew L. Fawthrop, president of American Chamber of Commerce in Bangladesh, were also present at the function.

"We all hope that", the minister went on," considering the huge and positive social impacts, the US administration will extend greater cooperation in this regard".

"We believe that our friends in the US Congress will respond favorably with regard to the passage of the Tariff Relief Assistance for Developing Economies (TRADE) bill 2005," he told the show, scheduled to end on Friday.

Khan said the passage of the bill will allow Bangladesh to consolidate its competitive position with the establishment of increasing number of backward-linkage industries.

The minister also lauded the investment environment in the country.

He also said during the last three years, net annual FDI inflow into Bangladesh increased by 34 percent.

Speaking at the inaugural programme, US Charge d'Affairs said the trade show is a reflection of strong bilateral relation between the two nations.

In last fiscal year, Bangladesh exported goods worth US $ 2.5 billion while it imported, at the same time, items worth US $ 3 million, Chammas said. She also hoped that through this trade show people will be able to know about the quality of US products.

Political consensus is required at national, regional and union levels to harness the power of Bangladesh's entrepreneurs and workers, AmCham president said at the function.

He also said the nation should say good-bye to hartal to build a solid economic base.

A total of 75 companies and their local distributors are showcasing products through 127 stalls at the trade show. The show is open to all from 10am to 8pm everyday with a Tk 20 entry ticket.

Agricultural machinery makers, beverage companies, educational institutions, financial organisations, seed producers, utility services, electronic and IT companies are among the firms who are taking part in the fair.

The trade show is jointly organised by the American Chamber of Commerce in Bangladesh and United States Embassy in Dhaka.