DHAKA: Mike Delaney, the key role player of US delegation, on Monday said GSP regaining is depending on three issues--security, labour laws and implementation of inspection works.    

The delegation chief came up with the assertion in a joint press conference after the first meeting on Ticfa.   

He also said, “We are committed to work with Bangladesh as it can implement the works of GSP action plan.”

He, however, praised Bangladesh government for its relentless effort to get back Generalized System of Preference (GSP) and hoped that Bangladesh will work more in this regard to get back it.   

The first meeting of much-talked-about Trade and Investment Cooperation Forum Agreement (TICFA) between the United States and Bangladesh held at a city hotel on Monday.  

Commerce secretary Mahbub Ahmed led the 21-member Bangladesh team while 12-member US delegation joined the meeting under leadership of Assistant U.S. Trade Representative for South Asia Mike Delaney.

It appears that The United States will not give duty free access and quota facilities to Bangladeshi products showing various obstacles by the World Trade Organization and decisions of many summits in this issue.

The situation came following a joint press conference of the two groups after the first meeting of TICFA.   

In the meeting, Bangladesh mentioned that many countries under least development are getting the duty and quota free facilities but it does not get the facilities as a least developed country.

In response to the argument of Bangladesh, US said those countries are getting duty and quota free facilities they are ultra poor than Bangladesh.

In his welcome speech, at the beginning of the maiden meet, Mahbub Ahmed highlighted several information of socio-economic development of Bangladesh.

The United States-Bangladesh signed the Trade and Investment Cooperation Forum Agreement (TICFA) on November 25, 2013.  

TICFA is a mechanism for dealing with specific trade and investment issues.  The US-Bangladesh TICFA seeks to further bolster annual two-way trade between the United States and Bangladesh, which exceeded $6 billion in 2013.

BDST: 2110 HRS, APR 28, 2014