• Tuesday, August 4, 2020

Bangladesh to reap benefits from US ending GSP for India

Discussion in 'Bangladesh Defence Forum' started by Homo Sapiens, Jun 3, 2019.

  1. Homo Sapiens

    Homo Sapiens ELITE MEMBER

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    Bangladesh to reap benefits from US ending GSP for India
    Ibrahim Hossain Ovi
    • Published at 09:39 pm June 2nd, 2019
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    Trade analysts and economists think that the impact of the scrapped preferential trade facilities will be temporary

    Bangladesh may see increased exports to US markets as the Donald Trump administration terminates preferential trade facilities for India, a close competitor of the country.

    On May 31, the US government announced its decision to end preferential tariffs for $5.6 billion of Indian exports from June 5 after determining that it has not assured the US that it will provide "equitable and reasonable access to its markets.

    Bangladesh already has registered double digit growth in the US market due to the US-China trade war, which opened up opportunities for Bangladeshi exporters.

    According to Export Promotion Bureau (EPB) data, during July-April period of the current fiscal year Bangladesh exports to the US market rose by 16.17% to $5.71 billion, which was $4.92 billion in the same period a year ago.

    India is the third largest exporters of textile apparel goods to the US marker after Indonesia with an export of $7.67 billion as of 2018, while Bangladesh is the fourth largest exporter of apparel and textile goods worth $5.60 billion.

    “There were about 2,000 products including textile goods from India, which enjoyed duty-free market access to USA under Generalized System of Preference (GSP). Since the preferential trade facilities are gone, Bangladesh apparel sector may gain,” Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Rubana Huq has told Dhaka Tribune.

    "But the Indian side thinks that they are losing less than $200 million dollar worth of apparel opportunity. So we will have to wait and see," she says.

    Trade analysts and economists think that the impact of the scrapped preferential trade facilities will be temporary.

    “In any trade tariff conflicts, there remains uncertainty among the business people. As a result, in placing work orders they shift a portion of orders to remain safe though the item is not included in the tariff list,” Centre for Policy Dialogue (CPD) Khondaker Golam Moazzem tells Dhaka Tribune.

    So, there will be positive impact on Bangladesh exports to US market but it may be temporary, says Moazzem, adding that the US is cutting trade facilities to renegotiate the trade benefits bilaterally.

    Bangladesh has to think of diversifying its goods and concentrating on connecting the buyers who are currently sourcing from the Indian manufacturers to reap the full benefits, suggests the economist.

    He also notes that Bangladeshi importers from India can benefit from the cut of trade facilities as there will be scope for price negotiation.

    Beyond the apparel sector, there is opportunity to grow in the leather and footwear exports, which have already seen sharp rise due to US-China tariff war.

    “Since India is a close competitor of Bangladesh in leather goods and footwear, it will bring benefits for us,” Md Saiful Islam, managing director of PICARD Bangladesh Limited, an export-oriented leather products manufacturer, tells Dhaka Tribune.

    Besides, he says, Bangladesh has increased capacity and trade diplomacy is doing better in branding Bangladesh, which is a positive indicator in grabbing more market share in the US market.

    https://www.dhakatribune.com/busine...to-reap-benefits-from-us-ending-gsp-for-india
     
  2. Homo Sapiens

    Homo Sapiens ELITE MEMBER

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    Some PDF posters here are fervently wishing that Bangladesh's garments export will grind to a halt after EU preferetial tariff end for BD after LDC graduation, they should take note. Here in US market, our main competitors get GSP facilities, but Bangladesh do not. And US imposed higher tariff on Bangladeshi apparel then those from Vietnam, Cambodia or India, still US is our 2nd largest market for garments export and registering double digit growth. With equal opportunity from US govt., our export there could flourish even more. So, it seems our garments sector is not as vulnerable as projected here.
     
    Last edited: Jun 3, 2019
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  3. Rusty

    Rusty ELITE MEMBER

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    Most PDF posters (and Pakistanis in general) don't really care about Bangladesh.
    I personally have Bangladeshi made underwear and when I put them on, it is the one and only time I think of Bangladesh.
     
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  4. Homo Sapiens

    Homo Sapiens ELITE MEMBER

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    And another time when you posts here. But we are grateful that you remember Bangladesh at least on two occasion daily.
     
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  5. Michael Corleone

    Michael Corleone SENIOR MEMBER

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    good, keeping your nunu safe. try on those indian made ones... your nunu would be on gangrene
     
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  6. Rusty

    Rusty ELITE MEMBER

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    I don't count this because it shows up on my feed.
    If you guys were not infesting PDF, I would never see any Bangladeshi threads.

    Is that English?
     
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  7. Michael Corleone

    Michael Corleone SENIOR MEMBER

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    and yet you bother to reply... cba
     
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  8. Wikki019

    Wikki019 FULL MEMBER

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    Believe me any piece of clothing made in bangladesh is of worst Quality as compared to made in Turkey, india, Pak or China. I have tried them all.
     
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  9. Michael Corleone

    Michael Corleone SENIOR MEMBER

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    no it's your language
     
  10. Homo Sapiens

    Homo Sapiens ELITE MEMBER

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    You are free to ignore. Or are you forced to visit here ?
     
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  11. Michael Corleone

    Michael Corleone SENIOR MEMBER

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    yet here i'm in europe buying shit quality bd products that last me twice as long as something turkish, indian or chinese...

    i'll give it to pakistani garments... they're good... but they lost all their market to bd

    so the funny curiousity is why something as good lost it's market share to something trashy according to your opinion
     
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  12. Homo Sapiens

    Homo Sapiens ELITE MEMBER

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    We respect your choice not to buy anything made in Bangladesh.
     
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  13. Rusty

    Rusty ELITE MEMBER

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    I only commented since you felt the need to mention us.
    I normally ignore these types of posts.

    I have no idea what you are talking about, the cow dung getting to you?
     
  14. Homo Sapiens

    Homo Sapiens ELITE MEMBER

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    So you are one of those person who fervently wishing collapse of Bangladesh's garments industry after EU preferential tariff termination for Bangladesh? I did not know about that. Thank you for exposing yourself voluntarily.
     
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  15. war&peace

    war&peace ELITE MEMBER

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    Well. it is a good news for Bd and other countries of the region.
     
    Last edited: Jun 3, 2019
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