LDC & Tsunami affected countries support Ustrade Bill 2005 for RMG exports

22 Jun '05

3 min read

At a LDC (Least Developed Countries) conference held in Bangladesh, business chambers and associations of six Asian-Pacific least developed countries (LDCs) and tsunami affected Sri Lanka declared their support to the 'US Trade Bill 2005' that seeks to provide duty-free access of ready-made garments and textiles to that country.

The conference held under the aegis of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the South Asia Enterprise Development Facility (SEDF) saw leaders of Bangladesh Garment Manufacturers and Exporters Association, Joint Apparel Associations Forum of Sri Lanka, Garment Manufacturers Association of Cambodia, Afghanistan Chamber of Commerce, Garment Association of Nepal, Bhutan Chamber of Commerce and Industry and Association of the Lao Garment Industry come together and sign the above declaration.

Called the 'Dhaka Declaration 2005' it read: "The legislation introduced in the US Congress would generate economic growth and reduce poverty for the LDCs currently lacking preferential market access to the United States, thereby better securing social stability and strengthened democracy in the region."

"At a minimum, the preferential market access provided for in the Trade Act of 2005 will allow our countries the chance to continue to compete against the far larger economies in our region now supplying the global apparel market, and we also are convinced that it will help us to diversify our economies and create additional employment opportunities," it said.

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