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Published on 02:51 PM, June 03, 2022
Star Digital Report
Bangladesh has the potential to be a regional leader in digital trade, according to the United States.
The US representatives in a consultation meeting with Bangladesh also stressed on adopting transparent regulatory environment and reforms in labour sector for securing foreign investments as sought by Bangladesh.
The US also highlighted Bangladesh's role as a global climate leader, while Bangladesh sought US companies to invest in clean energy to help Bangladesh advance on its nationally determined contribution (reduction carbon emission) targets for climate.
Salman F Rahman, adviser to the prime minister for private industry and investment, and Jose W Fernandez, US State Department Under Secretary for Economic Growth, Energy, and the Environment, co-chaired the second High-Level Economic Consultation (HLEC) in Washington DC.
The consultation is the fourth in a series that began in March following two years of pause. Since March, the two countries held Partnership Dialogue, Security Dialogue and Defence Dialogue. Sanctions on Rab and some of its officials put some strain in the relations but both the countries want to further the tie that is based on wide range of cooperation.
Salman F Rahman underscored business-to-business and people-to-people contacts as the key elements for enhanced cooperation and urged preferential market access of Bangladeshi products to the US, which buys annually $8 billion worth of products from Bangladesh. The US suspended GSP facility in 2013 following Rana Plaza collapse.
He also sought enhanced US investment in manufacturing and technology transfer, renewable energy, telecommunications, and agricultural and food processing sectors and to its economic zones.
"Salman F Rahman also sought International Development Finance Corporation funding for infrastructural development and reiterated Dhaka's earlier offer of dedicated Economic Zone for the US investors and investment opportunities in the Hi-Tech Parks."
ILO Country Director in Bangladesh Tuomo Poutiainen made an independent presentation on the progress Bangladesh made in the labour sector. US Under Secretary Jose W Fernandez acknowledged the progress in the areas of safety reforms in the garment export sector, simplifying trade-union registration, developing publicly accessible trade-union database, establishment of helplines to receive complaints, digitalising labor inspection and strengthening labor courts.
The US urged Bangladesh to take further steps to adhere to internationally recognised labor rights standards, including those developed by Bangladesh for its ILO road map. Bangladesh expressed its commitment to swiftly pass necessary reforms and fully implement the four priority areas of the ILO road map.
Bangladesh also expressed a commitment to address other areas of labor reform including improving workers' rights to freedom of association and collective bargaining in export processing zones (EPZs) and gradually in other sectors across Bangladesh's economy.
Both sides agreed that implementing these can help the economies of both the countries recover from the pandemic, broaden economic gains, and unlock further economic potential with other trade partners by creating an attractive business environment.
Bangladesh warmly welcomed a US concept of a US-Bangladesh Women's Council to enhance female employment, entrepreneurship, and access to educational opportunities in support of a more equitable future.
According to the joint statement, both sides decided to coordinate more on implementing existing transparent commercial policies and consistent enforcement of intellectual property rights in Bangladesh.
www.thedailystar.net
Bangladesh urges US to invest in clean energy, seeks trade preference
Star Digital Report
Bangladesh has the potential to be a regional leader in digital trade, according to the United States.
The US representatives in a consultation meeting with Bangladesh also stressed on adopting transparent regulatory environment and reforms in labour sector for securing foreign investments as sought by Bangladesh.
The US also highlighted Bangladesh's role as a global climate leader, while Bangladesh sought US companies to invest in clean energy to help Bangladesh advance on its nationally determined contribution (reduction carbon emission) targets for climate.
Salman F Rahman, adviser to the prime minister for private industry and investment, and Jose W Fernandez, US State Department Under Secretary for Economic Growth, Energy, and the Environment, co-chaired the second High-Level Economic Consultation (HLEC) in Washington DC.
The consultation is the fourth in a series that began in March following two years of pause. Since March, the two countries held Partnership Dialogue, Security Dialogue and Defence Dialogue. Sanctions on Rab and some of its officials put some strain in the relations but both the countries want to further the tie that is based on wide range of cooperation.
Salman F Rahman underscored business-to-business and people-to-people contacts as the key elements for enhanced cooperation and urged preferential market access of Bangladeshi products to the US, which buys annually $8 billion worth of products from Bangladesh. The US suspended GSP facility in 2013 following Rana Plaza collapse.
He also sought enhanced US investment in manufacturing and technology transfer, renewable energy, telecommunications, and agricultural and food processing sectors and to its economic zones.
"Salman F Rahman also sought International Development Finance Corporation funding for infrastructural development and reiterated Dhaka's earlier offer of dedicated Economic Zone for the US investors and investment opportunities in the Hi-Tech Parks."
ILO Country Director in Bangladesh Tuomo Poutiainen made an independent presentation on the progress Bangladesh made in the labour sector. US Under Secretary Jose W Fernandez acknowledged the progress in the areas of safety reforms in the garment export sector, simplifying trade-union registration, developing publicly accessible trade-union database, establishment of helplines to receive complaints, digitalising labor inspection and strengthening labor courts.
The US urged Bangladesh to take further steps to adhere to internationally recognised labor rights standards, including those developed by Bangladesh for its ILO road map. Bangladesh expressed its commitment to swiftly pass necessary reforms and fully implement the four priority areas of the ILO road map.
Bangladesh also expressed a commitment to address other areas of labor reform including improving workers' rights to freedom of association and collective bargaining in export processing zones (EPZs) and gradually in other sectors across Bangladesh's economy.
Both sides agreed that implementing these can help the economies of both the countries recover from the pandemic, broaden economic gains, and unlock further economic potential with other trade partners by creating an attractive business environment.
Bangladesh warmly welcomed a US concept of a US-Bangladesh Women's Council to enhance female employment, entrepreneurship, and access to educational opportunities in support of a more equitable future.
According to the joint statement, both sides decided to coordinate more on implementing existing transparent commercial policies and consistent enforcement of intellectual property rights in Bangladesh.
Bangladesh urges US to invest in clean energy, seeks trade preference
Bangladesh has the potential to be a regional leader in digital trade, according to the United States.
