With Joe Biden taking over as the US President, there is hope for restoration of the GSP (generalised system of preferences) facility in USA, which Bangladesh lost in the wake of the infamous Rana Plaza tragedy of 2013 even as the country is, reportedly, planning to take up the issue with the new administration.
According to media reports which cited trade officials, since 2013, Bangladesh apparel industry has improved a lot in terms of workplace safety, who further claimed that the Government has succeeded in meeting most of the compliances of the USTR (Office of the United States Trade Representative) as well.
Meanwhile, speaking to the media, Hafizur Rahman, the Additional Secretary to the Ministry of Commerce and Director General of the WTO cell, reportedly, said that the US will review the GSP programme by June-July this year, before which there could be a meeting of TICFA (Trade and Investment Cooperation Forum Agreement) while adding Bangladesh would like to send a letter to the USA requesting restoration of the GSP facility.
Underlining that Bangladesh may take a fresh move for getting US GSP facilities restored, member (International Cooperation) of the Bangladesh Trade and Tariff Commission (BTTC), Dr. Mostafa Abid Khan, reportedly, maintained that Bangladesh had already submitted an informal note to get duty-free market access for apparels made from US cotton and now could issue a formal letter to the new administration for this advantage.
