Bangladesh again appealed to the US administration to grant duty-free and quota-free (DFQF) market access to its apparel products on the American market. Making the request Saturday Finance Minister AMA Muhith pointed out that most countries offer duty-free market access to Bangladeshi readymade garment (RMG) products bar the United States. “It is very unfortunate. I refer them it every year and tell them you should make a change. I made this appeal again,” Mr Muhith told newsmen here after a meeting with Deputy Assistant Secretary for Western Hemisphere and South Asia of the US treasury department Michael Kaplan. He said apparels of almost all the countries enjoy DFQF market access to the US market except for Bangladeshi and Russian clothing exports. Bangladesh exports apparel worth US$5.0 billion to the US market. “But it does not enjoy any privilege. It comes here or importers bring it paying full duty.” Asked about the response of US official to his appeal, Mr Muhith said he (Mr Kaplan) will inform the department concerned about the plea for consideration. Bangladesh is the second-largest global exporter of RMG products after China. In fiscal year 2015-16 Bangladesh exported apparel products worth a total of $28.09 billion, registering a 10.21 per cent growth year on year. The sector employs nearly four million people of which nearly 80 per cent are women. The United States suspended Bangladesh from its generalised system of preferences (GSP) scheme in 2013 after the deadly Rana Plaz collapse in Dhaka which killed over 1,100, mainly apparel factory workers, and left many wounded. Under the GSP scheme the US administration grants duty-free access to certain goods of least developed and developing countries to its market. Some of the Bangladeshi goods had been enjoying the GSP facility before the suspension. The apparel products have never been allowed on the list of eligible goods for enjoying duty-free market access. Mr Muhith also said Bangladesh has been maintaining a handsome economic growth during the last couple of years, driven by increased export of apparels. He noted that global economic growth has been slowing down and this year it is projected to be 3.6 per cent. On the other hand, this year Bangladesh’s growth will be over 7.0 per cent, he said. “The economic growth in South Asia as a whole is good. We are doing well due to increased export,” he said. The minister said Bangladesh is doing a significant value addition despite being not a cotton-producing country. “We are now going to produce high-fashion RMG products.” Mr Muhith identified product-and-market diversification behind rising export as well as economic growth. He foresees a good future for export of leather and pharmaceutical products in the days to come. The minister expressed the hope that Bangladesh would turn into a ‘developed’ country by 2041 ‘as our prime minister said’. “We graduated to lower-middle-income country from poor one in 2015 and now think that we will be a resourceful country by 2041.” He also hopes that private-sector investment will see a significant rise this year from present 23 per cent. Mr Muhith also attended climate ministerial dialogue where he complained about slow release of climate funds and complex conditions tying its use.
