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Industry News | Time:Sep 21 2016 8:14AM
Bangladesh seeks duty & quota-free RMG access to US
 
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Bangladesh prime minister Sheikh Hasina has sought duty and quota-free access of readymade garments (RMG) from her country to the US. This would help Bangladesh expand its apparel industry, employ and empower more girls and help establish a modern society, she said. It would also push bilateral trade beyond the current $7 billion between the two countries.

“As Bangladesh strives to achieve its aspired goals, I urge you to come forth and partner with us in this journey of mutual profits and prosperity ... importantly, such a lucrative partnership would also strengthen our two countries' friendship,” the prime minister said while speaking at the luncheon meeting hosted by the Business Council of International Understanding (BCIU) in New York.

The prime minister said that it would be vital for the US to give Bangladesh apparel duty and quota free access to its market in a bid to expand Bangladesh apparel industry, employ and empower more girls and help establish a modern society, BSS reported.

The apparel industry in Bangladesh employs 4 million workers, of which 90 per cent are girls from poor families. The earnings of these girls now provide better nutritional food, allow siblings to go to schools, and give them a respected voice at home. Their empowerment is also helping reduce poverty, control population growth and increase literacy, Hasina said.

“Significantly, this trend is supporting our fight against extremism and terrorism by transforming our society into a progressive one. For these efforts to succeed, it is vital for the US to give Bangladesh apparel duty and quota free access to its market. It would expand Bangladesh apparel industry, employ and empower more girls and help establish a modern society,” the prime minister said.

Bangladesh is an LDC, and 52 countries, including Australia, Canada, New Zealand, China, Japan, India and the EU give Bangladeshi products duty and quota-free access to their markets. Will the US join this list of countries, she asked.

Taking about bilateral trade relations, she said the US is the largest single country destination of Bangladeshi products. “Our two countries' bilateral trade reached $7 billion last year. It could be more if the high tariffs and compliance issues on Bangladeshi apparel to US market were removed,” she said.

Source: Internet
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