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Bangladesh
The 3rd Bangladesh-Malaysia Joint Commission Meeting (JCM) begins here today (Monday) after a hiatus of over 10 years to explore intensified cooperation in potential sectors of trade, investment and manpower.
Bangladesh will propose a Free Trade Agreement with Malaysia in Bangladesh-Malaysia Joint Commission meeting to be held on June 6-7, after a break of 10 years.
With no transactions in the past two years, the term of the Account Trade Arrangement (ATA) between Burma and Bangladesh has expired without any initiative for renewal.
Bangladesh is hesitant to take any practical move to sign free trade agreement (FTA) as it has been sitting on several proposals from many neighbouring countries that have done so among themselves for their own benefits.
The traders of Pakistan and Bangladesh have underscored the need of their two countries entering into a Free Trade Agreement (FTA) besides initiating a direct sea-route between the two countries.
Business leaders of Bangladesh and Pakistan today recommended pursuing a Free Trade Agreement (FTA) between the two countries to help boost bilateral trade and investment.
Bangladesh will lose its right to speak for the Least Developed Countries (LDCs) if it signs the Trade and Investment Framework Agreement (Tifa) with the United States, economists at a discussion said yesterday.
USA is forcing Bangladesh to sign a Trade and Investment Framework Agreement (TIFA), that will bind Bangladesh to work with USA on the successful completion of the Doha Development Agenda (DDA) and will provide extra facilities to USA "without prejudice to each party’s rights and obligations" under the WTO.
Draft text of the US-Bangladesh Trade and Investment Framework Agreement as of 30 January 2005
The US is firmly against Bangladesh’s request to exclude a clause related to bribery and corruption from the proposed Trade and Investment Framework Agreement (TIFA) between the two countries, reports Xinhua.
The proposed trade and investment framework agreement between Dhaka and Washington aims to establish a joint council on trade and investment by passing the political process and entrusting the fate of trade negotiations with bureaucrats.
Dhaka and Washington through a two-day negotiation ending yesterday finalised the draft of Trade and Investment Framework Agreement (Tifa) paving the way further for creating a platform to talk bilateral trade issues.
The postponement of the Dhaka Summit of Saarc, twice over the past two months, is a setback for the fledgling process of economic integration in South Asia. But that should not prevent India from taking unilateral initiatives for promoting industry and supply capacities in its neighbours, especially Bangladesh.
Bangladesh and US trade officials are close to finalising a draft for a trade and investment framework agreement (TIFA), as Dhaka softened its positions on key debated issues.
Dhaka is likely to soften its position on inclusion of a clause related to bribery and corruption as it enters into the third round of talks with Washington today on a trade and investment framework agreement, sources in the commerce ministry have told New Age.
The US ambassador Harry K Thomas said that his government and Bangladesh would sign a bilateral free trade agreement following the signing of the proposed Trade and Investment Facilitation Agreement (TIFA) that may take place shortly to exploit the business and economic potentials on both sides.
The US has agreed to Bangladesh’s proposal for exclusion of issues related to labour laws, environment and intellectual property rights from the main text of a proposed trade and investment framework agreement the two countries are likely to sign some time this year.
The stalled talks for signing a trade and investment framework agreement between Dhaka and Washington will resume soon since the new Bush administration has already set its agenda for coming days, said sources in the government.
The government will not move ahead with trade negotiations with any party before the South Asian Free Trade Area (Safta) gets implemented on January 1, 2006.
The Bangladesh government will set up a free trade cell (FTC) soon with a responsibility to negotiate regional and bilateral deals with a view to protecting the country’s interests in trade-related issues.
