Washington Public Hearing
Yunus pleads for Dhaka's duty-free access to US market
Star Business Report
Nobel laureate Professor Muhammad Yunus participated Wednesday in a public hearing in the American capital city Washington to elicit opinions on allowing duty and quota-free market access of products from the least developed countries (LDCs) to the US.Yunus also attended the question and answer session during the hearing and highlighted the necessary of the duty free market access facility. The US Senate Committee earlier invited him to participate in the hearing as part of the US fresh initiative to allow the LDCs duty free access to the US market. Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) appreciated Yunus' participation in the Washington hearing. BKMEA President Md Fazlul Hoque said the participation will help realise the Bangladesh long-cherished demand for a duty and quota- free access to the US market. In his hearing Yunus argued that if the US gives Bangladesh duty free and quota free (DFQF) market access, it will not hamper the facility given to the African countries under the existing African Growth and Opportunity Act (AGOA). Yunus also explained that the proposed DFQF will also benefit American manufacturers as the facility will create huge opportunity for the US exporters to cater to the machinery needs for the RMG industries in Bangladesh, according to the BKMEA chief. US senators Max Baucus, Jeff Bingaman and Ken Salazar attended the hearing.
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