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Bangladesh urges US to reinstate GSP facilities

19
Mar '19
Bangladesh urges US to reinstate GSP facilities
Bangladesh commerce Minister Tipu Munshi has again called on the United States to reinstate the generalised system of preferences (GSP) to the country. Urging the newly-appointed US ambassador Earl R Miller to Bangladesh to take initiatives in this regard at the US Trade Show 2019 recently, he said GSP suspension is not a financial loss but an image issue.

The American Chamber of Commerce in Bangladesh (AmCham) and the US Embassy in Dhaka jointly organised the trade show, according to Bangla media reports.

Munshi also urged US entrepreneurs to invest in Bangladesh taking benefit of special incentives for investors in the economic zones.

Bangladesh is establishing 100 special economic zones across the country.

The United States had revoked the GSP facilities on June 27, 2013, following two major industrial accidents in Bangladesh—the Tazreen Fashion fire in 2012 and the Rana Plaza collapse in 2013.

The US Administration had placed a set of conditions, including improvement of the working conditions in garment factories, to revive the GSP benefit. (DS)

Fibre2Fashion News Desk – India


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