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.
Speakers at a business session yesterday said Bangladesh and Malaysia can strike a bilateral free trade agreement (FTA) after taking into account the strengths and needs of both these countries.
Bangladesh Finance Minister Saifur proposed to initiate Bangladesh-Malaysia free trade agreement if sub-regional economic bloc among the OIC [Organisation of the Islamic Conference] member-states is not possible.
A report on the status of FTA fever in 12 Asian countries: Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand and Vietnam.
Pakistan President General Pervez Musharraf has expressed his keenness for early conclusion of bilateral free trade agreement between Bangladesh and Pakistan for further expansion of economic cooperation between the two countries.
Pakistan is keen to enter into a Free Trade Agreement (FTA) with Bangladesh to foster bilateral trade and economic cooperation, Pakistan Prime Minister Shaukat Aziz said here on Thursday.
The government has started a series of consultations with industries to have a clear-cut idea about the sectors that can enjoy the benefits of the SAFTA and BIMSTEC deals.
Bangladesh is set to sign its first bilateral free trade agreement (FTA) - with Morocco - despite reservations by its own research wing.
Excerpts from the welcome address of H.E. Huyamun Kabir, Ambassador of Bangladesh to Nepal, at the Bangladesh Trade Fair, 8 October 2004
Bangladesh is yet to make any clear headway in its bilateral talks in free trade agreements with India, Pakistan and Sri Lanka as well as trade and investment framework agreement with the United States.
A consultative committee on free trade has suggested the government to make urgent political decision regarding its position on bilateral free trade agreement (FTA).
Dhaka is finally going to sign the Bangladesh, India, Myanmar, Sri Lanka, Thailand — Economic Cooperation (BIMST-EC) Free Trade Agreement (FTA).