Ticfa to protect Bangladesh’s interest: Quader

Bangladesh will not have the privilege of trade negotiations if it does not sign Trade and Investment Cooperation Forum Agreement (Ticfa), according to Minister for Commerce Ghulam Mohammed Quader.

Staff Correspondentbdnews24.com
Published : 29 June 2013, 05:01 AM
Updated : 29 June 2013, 05:21 AM

“Without this agreement Bangladesh’s interests will not be secured and the country will be deprived of economic and commercial privileges”, the minister told parliament in reply to a question posed by ruling MP Nurul Islam on Saturday.

“Bangladesh will get a chance to hold at least one discussion on trade and investment every year if Ticfa is signed with the United States. This will eradicate obstacles for the entry of Bangladeshi products’ into the US market,” he asserted.

The minister also said, “The final draft of the proposed Ticfa treaty has a 16-point proposal. The Ministry of Commerce will represent Bangladesh in the forum and The Office of the US Trade Representative (USTR) will participate on the behalf of the US. The forum will also allow the government sector and members of the civil society to present their opinions.”
GM Quader said, the need for an official platform to address the investment and trade interests with the US-- Bangladesh's single largest export market-- was being felt for a long time.
Presently, Bangladesh exports majority of its products to the US and imports mostly from China.