The country’s Commerce Ministry will also send a separate letter to the US trade representative (USTR) requesting the same. Ministry officials met US embassy officials in Dhaka this morning to discuss ways to remove non-tariff barriers flagged by the United States.
The letters will outline a time-bound action plan, including tariff reductions on imports from the United States, and commit to implementation within three months based on discussions with Washington. The aim of is to protect Bangladesh's exports to its largest single-country market.
The letters will also commit to removing tariff and non-tariff barriers, and addressing obstacles for US businesses in Bangladesh.
The government has planned to introduce duty exemptions to boost US imports, set up a central warehouse for US cotton, raise fuel imports including LNG on a government-to-government basis and remove non-tariff barriers, according to domestic media reports.
The Commerce Ministry expects the central warehouse facility to raise US cotton exports to Bangladesh by three to four times. The warehouse will be reportedly ready within two weeks.
Following the imposition of additional US tariffs on Bangladesh, the latter’s top policymakers started official talks yesterday with the US embassy in Dhaka. Following that, the Commerce Ministry held a ministerial meeting with stakeholders.
The ministry will also request the United States to convene a meeting of the Trade and Investment Cooperation Forum Agreement for detailed discussions and inform the latter about the former’s efforts to ensure labour rights.
ALCHEMPro News Desk (DS)
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