According to official sources, Dhaka may soon benefit from the proposed New Partnership for Trade Development Act (NPTDA), which will be presented in the US Congress in August 2010. The same has been confirmed by US textile lobbies and US Congressmen.
More so, according to a Bangladeshi delegation that visited US to garner support for aiding the country to receive the abovementioned benefit, the US textile association leaders, policy makers and supervisory bodies showed interest in providing Bangladesh garment exporters duty-free entry into the US market.
Considering Bangladesh's socio-economic situation, the US shareholders decided to give Bangladesh more improved duty-free facilities.
The initial opposition, by African regions, for inclusion of Bangladesh in the NPTDA list of beneficiaries, has now fizzled out; after the Bangladeshi delegation conducted a series of meetings with various US shareholders, thereby, resulting in giving due impetus to the NPTDA bill.
Acting Commerce Secretary, Golam Hossain led the delegation to US along with members of other associations such as World Trade Organisation, Ministry of Commerce, Bangladesh Export Processing Zones Authority, Bangladesh Textile Mills Association and Centre for Policy Dialogue and Director General and Bangladesh Garment Manufacturers and Exporters Association.
However, currently, several US textile firms and other 45 trade organisations of South and North American, African and Middle Eastern countries have counterattacked US's move for granting duty-free entry to Bangladesh garment products in to the US markets under the projected NPTDA bill.
The NPTDA bill was introduced in the US House of Representatives on November 18, 2009, by Senator and US Congressman, Jim McDermott, with a vision of permitting duty-free entry into the US market to 15 'Least Developed Countries' (LDCs) including Bangladesh.
The bill offers duty-free and quota-free entry to all non-AGOA (African Growth and Opportunity Act) LDC countries and further also simplifies the existing US-GSP rules of origin.
Fibre2Fashion News Desk - India
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