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Bangladesh demands better prices for garment items from US
21 Sep '18
2 min read
Bangladesh sought better prices for its exports, especially garments, from US retailers and brands, duty privilege for all products exported to the US market, and increased investment from the United States at the fourth meeting of the Trade and Investment Forum Agreement (TICFA) held in Washington last week, according to the Bangladesh commerce ministry.
Despite Bangladeshi garment makers spending billions on remediation activities in their factories as per recommendations of Accord and Alliance platforms, western buyers, including those in the United States, do not want to raise the prices a bit giving excuse of a fall in demand for apparel items in their countries, Bangladesh newspaper reports quoted a ministry statement as saying.
The United States was also reminded of the Bali declaration of the World Trade Organisation in 2013, when developed nations agreed to offer duty waiver to goods from least developed countries.
Bangladeshi products also enjoy the duty waiver, but the United States kept garment items out of the list. Bangladeshi garment makers now pay a 15.62 per cent duty for export to the United States.
According to US Census Bureau data, the overall value of Bangladesh's exports to the United States increased 5.83 per cent year-on-year to $3.63 billion in the first seven months of this year, thanks to higher apparel shipments.
In the same period, apparel exports to the US market grew 5.61 per cent year-on-year to $3.21 billion and Bangladesh became the third-highest garment exporter to the United States, according to data from the US Office of Textile and Apparel.
In June 2013, the US Government had suspended Bangladesh's trade privilege—the generalised system of preferences—citing poor labour rights and workplace safety.
Bangladesh also requested US cooperation for sustainability of its economy after the country's graduation to the developing country's category. At the meeting, the US representatives urged Bangladesh to import more US cotton and improve intellectual property rights. (DS)
Despite Bangladeshi garment makers spending billions on remediation activities in their factories as per recommendations of Accord and Alliance platforms, western buyers, including those in the United States, do not want to raise the prices a bit giving excuse of a fall in demand for apparel items in their countries, Bangladesh newspaper reports quoted a ministry statement as saying.
The United States was also reminded of the Bali declaration of the World Trade Organisation in 2013, when developed nations agreed to offer duty waiver to goods from least developed countries.
Bangladeshi products also enjoy the duty waiver, but the United States kept garment items out of the list. Bangladeshi garment makers now pay a 15.62 per cent duty for export to the United States.
According to US Census Bureau data, the overall value of Bangladesh's exports to the United States increased 5.83 per cent year-on-year to $3.63 billion in the first seven months of this year, thanks to higher apparel shipments.
In the same period, apparel exports to the US market grew 5.61 per cent year-on-year to $3.21 billion and Bangladesh became the third-highest garment exporter to the United States, according to data from the US Office of Textile and Apparel.
In June 2013, the US Government had suspended Bangladesh's trade privilege—the generalised system of preferences—citing poor labour rights and workplace safety.
Bangladesh also requested US cooperation for sustainability of its economy after the country's graduation to the developing country's category. At the meeting, the US representatives urged Bangladesh to import more US cotton and improve intellectual property rights. (DS)
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