FE Report

The visiting Assistant United States Trade Representative Michael J. Delaney said Monday the bilateral trade relations between the US and Bangladesh would be strengthened if the Trade and Investment Framework Agreement (TIFA) is signed between the two democratic countries.

Brushing aside the Bangladesh opposition to the inclusion of labour, intellectual property rights and environment issues in the new TIFA draft, the US trade diplomat said 'the concerns are hypothetical.'

Commerce Minister Faruk Khan, however, said the labour, intellectual property rights and environment issues included in the new TIFA draft need revision to safeguard Bangladesh's interest as far as US market is concerned.

"The bilateral trade relations would be strengthened if TIFA is signed as both the countries should need a forum to discuss issues relating to trade and investment of common interest,' Delaney told reporters after his meeting with Faruk Khan at the latter's office.

"Issues like labour, intellectual property rights and environment included in the draft TIFA are more of a general statement than their any legal bindings."

"TIFA would be extremely useful for Bangladesh,' asserted the visiting Assistant USTR.

Faruk Khan said he had asked Delaney to soften the clauses on labour, environment and intellectual property rights in the draft TIFA.

"I have clearly mentioned that these three issues need revision and discussions prior to the signing of the TIFA agreement are necessary,' Faruk told the reporters after the meeting.

"We have sought duty and quota-free market access of Bangladeshi products to the US market as the country has already been hit hard by the global economic recession and negative consequences of climate change.'

However, the US trade official avoided the duty-free issue on bilateral basis sending the ball to the court of multilateral forum.

"The issue of providing the duty-free market access facility to Bangladeshi products to the US market is very much tied up with the Doha Round of the World Trade Organisation,' Delaney said.

Firoz Ahmed, Commerce Secretary, Nicholas Dean, Charge de Affairs in the US Embassy in Dhaka and Alexander Ace Gazis, Economic and Commercial Officer were present at the meeting, among others.