US for increasing collaboration among stakeholders in Bangladesh RMG sector

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AMERICA has urged Bangladesh to increase collaboration with private and civil sector stakeholders in its readymade garment industry.

THE UNITED STATES also noted its "concern at the pace of reforms" designed to guarantee workers’ rights and safety standards.

Bangladesh and the united states Trade and Expenditure Cooperation Forum Arrangement (Ticfa) Council held it is fifth meeting about Thursday in city and discussed the problems.

The US and Bangladesh stated their intent to improve trade and investment opportunities and facilitate the prevailing flow of goods and services, in line with the office of the united states Trade Representative (USTR).

The two-way trade in goods with Bangladesh totaled $9 billion in 2019.

The participants discussed improvements to the investment environment needed in Bangladesh to achieve this.

Powerful protection of intellectual property rights; apparent regulation and monitoring of the trade in pharmaceuticals and medical gadgets; commitment to enable the digital economy; support for investors’ to fair and prompt dispute resolution and arbitration; enforcement of obligations and notifications under WTO agreements; and transparency in federal government procurement were highlighted in the meeting.

During the achieving, the united states and Bangladesh centered on market access for all of us agricultural products and monetary services, and also the value of upholding overseas labor norms.

The delegations to the Ticfa Council meeting were led by Mohammed Jafar Uddin, Secretary, Bangladesh Ministry of Commerce, and Christopher Wilson, Assistant US Trade Representative for South and Central Asian Affairs.

Bangladesh and the united states Trade and Purchase Cooperation Forum Agreement was first signed in 2013.

The last Ticfa meeting happened on September 13, 2018.
Source: https://www.unb.com.bd

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