Dhaka welcomes US bill to remove tariff on LDC products

Bangladesh has welcomed the introduction of the 'New Partnership for Development Act 2007' in US Congress aiming at reducing global extreme poverty through eliminating tariff on all products that originate in the Least Developed Countries (LDCs).
"We thank Congressman Jim McDermott for his initiative in introducing this long-awaited bill," said a press release issued by the Bangladesh Embassy in Washington DC yesterday.
Bangladesh believes that offering duty-free entry of products from the LDCs including apparel could create new opportunities for employment and thereby alleviating poverty and ensuring social progress in these countries, it said.
"We really appreciate the innovative provision of capacity building in the bill and hope that these provisions will go a long way to address the preparedness deficit of the LDCs," the release added.
For Bangladesh, the bill rekindles new ray of hope to millions of workers, mostly women, in the apparel industries to bring better livelihood in their personal life, as well as instilling greater stability and moderation in the society as a whole.
The government and the apparel industry in Bangladesh will remain actively engaged with the US Congress and other stakeholders for early passage of this bill.
Bangladesh hopes that the final version of the bill will be able to meet the aspiration of all stakeholders.