Bangladesh does not need the generalised system of preferences (GSP) to the US as the country is competitive in the American market even in its absence, Commerce Minister Tofail Ahmed said yesterday.“We will not apply for the GSP facility. If they want, they can provide the facility but we don’t think it is necessary,” he said. “So, we did not talk about the GSP in today’s meeting,” he told reporters after a meeting with James Golden, executive director of the Office of Asia at the US Department of Commerce, according to a report of the UNB.Ahmed said the US will set up a commercial wing in Dhaka for easier trade between the two countries.In 2013, the US scrapped the GSP facility for Bangladesh citing serious weakness in labour rights and poor workplace safety. Bangladesh used to export goods worth $25 million a year under the GSP before it was suspended.Bangladesh shipped goods worth $5.98 billion to the US last fiscal year and imported goods worth $1.70 billion from the country, according to the commerce ministry.Both Bangladesh and the US are scheduled to discuss different bilateral trade issues in the fourth round of the Ticfa (Trade and Investment Cooperation Forum Agreement) meeting to be held in Washington in the middle of next month.
