US should give duty-free access

Prime Minister Sheikh Hasina has said duty and quota free access of Bangladeshi apparel to the US market is imperative to expansion of Bangladesh's RMG industry, women employment and empowerment.

“USA would then be as fair as the 52 other countries like Australia, Canada, New Zealand, China, Japan, India and the European Union that give Bangladesh duty and quota free access to their markets,” she told the luncheon meeting of Business Council for International Understanding at Hotel Waldorf Astoria here on Monday.

The PM called upon the US businesses and investors to supplement Bangladesh's strives towards becoming a middle-income country by 2021 and a developed country by 2041.

“Importantly, such a worthwhile partnership would also strengthen our two countries' friendship,” she added.

Hasina said Bangladesh's main export to the USA is apparel and this industry employs four million workers, including 90 percent women from poor families. Their earnings are helping their empowerment.

She said the RMG workers' contributions now provide better nutritional food, allow children to go to schools, and give them a respectful voice at home.

“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.”

Bangladesh, said the PM, is ready for US investment in power, energy, especially renewable and green energy, shipbuilding and recycling, automobile and light engineering, chemical fertilisers, agro-processing, pharmaceuticals, ceramic and plastic goods, ICT, marine resources extraction, tourism, medical equipment, telecommunications and knowledge-based high tech industries.

The premier said the American companies are still the largest investors. Last year, they invested half-a-billion US dollars or 25 percent of the total FDI in Bangladesh. In trade, the US is still 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 observed.

Hasina regretted that the US in 2013 suspended its GSP privileges to Bangladesh. It was even sadder that the US last year restored its GSP privileges to all South Asian countries, except Bangladesh.

She said Bangladesh is a progressive, secular democracy with a homogenous population of which 60 percent is below the age of 40 and are available at competitive wages. Bangladesh has gas, coal, water, fertile soil, and a fast growing middle class population with increasing purchasing powers.

The country has the most liberal investment policy in South Asia. It includes protection of foreign investment by law; generous tax holiday, concessionary duty on import of machinery, remittances of royalty, 100 percent foreign equity, unrestricted exit policy, full repatriation of dividend and capital on exit, to name a few, Hasina pointed out.

Moreover, around 100 exclusive economic zones are being set up, with a dozen ready to have foreign private labour-intensive industries, she added.

PM's ICT Adviser Sajeeb Wazed Joy, Foreign Minister AH Mahmood Ali, State Minster for Foreign Affairs Md Shahriar Alam and Bangladesh Ambassador to the US Mohammad Ziauddin were present, among others.

Assistant Secretary of US Department of State for South and Central Asian Affairs Nisha Desai Biswal and business leaders from American Tower Corporation, Walmart, MetLife, Boeing, Chevron Corporation, GE and Coca Cola attended the meeting.

PM FOR SOUTH-SOUTH NETWORK

Prime Minister Sheikh Hasina yesterday proposed to establish a “South-South Network of Public Organisations” to develop a broader understanding and exchange of public sector innovations among the global South.

It would also facilitate generating ideas, sharing experiences and learning from each other, she said.

The PM was addressing the seminar titled “South-South and Triangular Cooperation in Scaling up Innovation in Public Service Delivery” at the UN headquarters. Bangladesh and the UN office for South-South cooperation organised the programme.

Hasina urged friendly countries from the South to positively consider the proposal and countries from the North to support the initiative within the Agenda 2030 framework.

The PM said Bangladesh already signed MoUs with the Maldives and Bhutan to collaborate on promoting and scaling up public service innovation.

The South-South and Triangular Cooperation has demonstrated their effectiveness to inspire international solidarity in achieving the MDGs, she added.

“There remains a huge potential of this cooperation in realising SDGs as well. This, however, calls for sincere commitments, deeper engagements and action-oriented approaches among the parties involved.”

She mentioned about extensive utilisation of ICTs in Bangladesh for decentralising service delivery to graduate it to a middle-income country by 2021.

The premier noted that social media platforms were being used to redress citizens' grievances in a significant way.

“This has not only made public service delivery efficient and cost-effective, but also guaranteed greater transparency, accountability and quality of the service. This has also contributed to strengthening of trust and confidence between the government and the citizens,” she mentioned.

Earlier, World Bank President Jim Yong Kim met the PM at Hotel Waldorf Astoria where she has been staying during her visit to New York.