Bangladesh congratulates US President-elect Trump for TPP quit statement
Senior Correspondent, bdnews24.com
Published: 2016-12-23 19:50:45.0 BdST Updated: 2016-12-23 19:50:45.0 BdST
The commerce minister has congratulated US President-elect Donald Trump for his statement that Washington will pull out of the Trans-Pacific Partnership (TPP) trade deal on his first day in the White House.
Tofail Ahmed believes Bangladesh would benefit from the leadership of the Trump administration’s Secretary of Labour Andrew F Puzder.
The minister was responding to questions at the Dhaka Reporters’ Unity’s flagship event “Meet the Reporters” on Friday.
The US, Australia, Canada, Japan, Malaysia, Mexico, Peru, Vietnam, Chile, Brunei, Singapore and New Zealand are the members of the TPP formed last year. It is aimed at deepening economic ties and boost growth by reducing tariffs.
Measures to enforce labour and environmental standards, copyrights, patents and other legal protections are also there under the TPP.
Bangladesh, which is enduring a US suspension of preferential trade GSP facilities over workers’ rights and factory safety concerns, fears the new agreement could affect its exports to those markets.
Soon after the deal, Dhaka at the Bangladesh-US Trade and Investment Cooperation Forum Agreement (TICFA) last year voiced its concern as it believed the TPP might “adversely impact” its exports to the US and some other TPP member states.
“I must congratulate him (Trump). We’ll be loser once TPP is implemented,” the commerce minister said.
The current Obama administration was “continuously pressing us” on labour issues, he said.
“We know who will be the new secretary for labour. I know he will be good for us,” Tofail said.
Trump announced Puzder, chief executive of fast-food franchise Hardee’s and Carl’s Jr, as Secretary of Labour.
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