On April 29, 2014, the Office of the United States Trade Representative (USTR) issued a press release summarizing the inaugural meeting between the U.S. and Bangladesh, held in accordance with the Trade and Investment Cooperation Forum Agreement (TICFA) on April 28, 2014. The TICFA came into force on January 30, 2014, and is aimed to improve bilateral trade and investment between the two economies.
According to the release, “Both governments reaffirmed their commitment to increase bilateral trade and investment as well as to address worker rights and worker safety issues in Bangladesh. The Forum also reviewed Bangladesh’s efforts to date to address the worker rights and worker safety issues in the Generalized System of Preferences (GSP) Action Plan.”
Additional topics of concern and discussion included the following:
- Investment rules
- Intellectual property protection
- Tariffs on fire safety and prevention equipment
- Fumigation requirements for cotton imports into Bangladesh
- Regional economic development and cooperation in the South and Southeast Asia region
The two countries will evaluate and engage on the action points throughout the year.
The press release can be accessed here
