DCCI seeks quick steps to retain GSP

Bangladesh's exports to the global market will slide and its image in export destinations outside the USA will be affected if the US withdraws duty-free benefits under the generalised system of preferences (GSP), a leading business leader said yesterday.
“At any cost, we'll have to ensure the continuation of the facility through proper negotiations,” M Sabur Khan, president of Dhaka Chamber of Commerce and Industry, told reporters at a press conference, first by the DCCI's new board of directors.
Bangladesh's exports to other countries might slow down if the country's image is harmed through cancellation of the GSP facility, he said.
Bangladesh's exports, which are already not at satisfactory level due to the global economic crisis, might encounter another threat if the government fails to properly negotiate to retain the facility.
“We think the government should take quick steps to resolve the issue.”
Amid the US threat of possible withdrawal, suspension or limitation of Bangladesh's duty-free benefits under the GSP, Bangladesh Embassy in Washington started initial negotiations to ensure the continuation of the GSP facility.
As part of the embassy's efforts to retain US GSP facility, Bangladesh Ambassador Akramul Qader had separate meetings with Congresswoman Betty McCollum and Congressman Adams Schiff last week.
The two members of the US Congress had assured that they would take up Bangladesh's GSP facility issue at the appropriate level of the US authorities so that it could be resolved taking Bangladesh's best interest into account.
Earlier, the US Trade Representative (USTR) office sought public comments from the stakeholders by January 31 on the possible withdrawal, suspension or limitation of Bangladesh's duty-free benefits under the GSP.
The commerce ministry is finalising a position paper to uphold Bangladesh's position in the hearing on the issue.