Wednesday, March 3, 2021

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Bangladesh Pushes For Exporting ‘Ready Made Garments’ To India and China

Bangladesh Commerce minister informed that Dhaka is willing to increase the exports to India and China by next year.  Presently, Bangladesh has a duty free facility in China and India.

With Rise and Rise of India and China, Will This Really Be The Asian Century?

In response to a supplementary question from Ashim Kumar Ukil, Bangladesh Commerce Minister Tipu Munshi said that there remains a wide scope for Bangladesh’s exporting readymade garments to India and China.

He said if Bangladesh can attain the scope, there will be a big export from Bangladesh in the two big markets.

Bangladesh’s Commerce Minister said Bangladesh has duty free facility in China and India. He also said there remains huge trade imbalance of Bangladesh with India and China. The Bangladesh government is trying to talk to India, assuming that already the amount of export to India is increased in 2018 compared to 2017.

Munshi said Bangladesh is yet to get the duty free access of Bangladeshi goods to US market. But efforts are on to avail the scope of duty-free access of Bangladeshi goods in the US market under the agreement of TICFA council between Bangladesh and USA, Tipu said.

Responding to another supplementary question of treasury bench member Abdul Mannan, the commerce minister said the government will resume talks with US government about lifting the suspension of GSP facility on Bangladesh items and expressed hope that the government would be able to fix the issue.

The minister also informed that he has met the US ambassador in last week about the GSP asking whether the issue is a political as Bangladesh has fulfilled the 16 conditions imposed by the US for rebuilding the GSP facility. 

More News at EurAsian Times

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