US lauds Bangladesh’s progress on GSP action plan

The United States has appreciated Bangladesh’s progress on sustainability compact and GSP plan of action, a press release of Bangladesh embassy in Washington DC said.

During the second annual council meeting of the Bangladesh-US Trade and Investment Cooperation Forum Agreement (TICFA) in Washington DC yesterday, the US side also recognised the huge potential Bangladesh possess, and expressed hope that US investors will come forward to explore the potential.

The Bangladesh delegation, led by Senior Secretary of Ministry of Commerce Hedayetullah Al Mamoon, delineated the huge transformation Bangladesh has undergone over the years making it a coveted destination for foreign investment.

The meeting also discussed wide range of issues including progress on workers’ rights and GSP action plan, investment climate in Bangladesh, market access and responsible business conduct, TPP, blue economy, infrastructure, etc.

The meeting decided to hold the next meeting of TICFA in Dhaka at a convenient time next year, it mentioned.

The US side was headed by Michel Delany, assistant US trade representative.

On November 25, 2013, Bangladesh and US signed the TICFA to establish an annual forum to identify and address obstacles to increasing bilateral trade and investment. The first TICFA meeting was held in Dhaka in 2014.