With Donald Trump all set to take over as the new President of USA, Bangladesh is planning to take up the issue of Generalised System of Preference (GSP) facilities – stalled since 2013 – with the new Government and ask it to restore the same.
“We are working for getting the GSP back in the US market,” Bangladesh Finance Minister AMA Muhith reportedly told journalists while emerging from a meeting of the Cabinet Committee on Economic Affairs Cabinet Division recently on being asked about the same, adding, “We will provide the new US administration all sorts of information on labour standard, safety and working environment in the apparel factories.”
The Finance Minister while congratulating Trump on his election as the 45th
US President expressed hope that Dhaka-Washington ties would deepen further in the coming days.
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He also reportedly negated speculations whether US investment in Bangladesh would face any setback after the dramatic US elections, rather expressing hope that the investment would be expanded even further.
In a separate development, economists and exporters in Bangladesh have expressed mixed reaction over the surprise result of the United States’ presidential polls.
Reacting to Trump’s victory, they said that the existing status of trade, especially in exports, would remain unchanged but it would not bring any new trade facility for Bangladesh in the US market under the new President.
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Executive Director of Centre for Policy Dialogue (CPD), Mustafizur Rahman, reportedly said that though Bangladesh might not face any additional problems for existing export, there might be some adverse impact on inflows of Foreign Direct Investment (FDI) and exploring export potentials of prospective sectors like outsourcing.
