The US has lauded Bangladesh’s meantime executive for its viewed initiatives and qualitative changes in assorted sectors, namely in labour rights, the funding native climate, and the industrial surroundings.
The appreciation was once made when a US Alternate Representative (USTR) delegation led by Brendan Lynch, the assistant USTR for South and Central Asia, known as on International Secretary Md Jashim Uddin on the latter’s goal of industrial in Dhaka on Tuesday (10 December), said a out of the country ministry press open issued on the present time (12 December).
For the duration of the assembly, the delegation expressed hope that the next session of the US-Bangladesh Alternate and Investment Cooperation Forum Settlement (TICFA) assembly will seemingly be held in Washington, DC, early next 365 days.
At the TICFA assembly, all aspects will focus on about deepening, strengthening, and broadening collaboration for mutual hobby, including in the areas of bilateral commerce, funding and pattern.
Megan Bouldin, chargé d’affaires in Bangladesh, and Emily Ashby, commerce protection analyst for South and Central Asia, Economic and labour attaches of the US Embassy in Dhaka accompanied Lynch.
Flagging the progress in good mandatory labour reforms, the out of the country secretary expressed excessive optimism about getting assist the GSP facility and financing from the Constructing Finance Corporation (DFC).
The visiting delegation up so some distance the out of the country secretary concerning the pre-TICFA discussions with the Ministry of Commerce, Ministry of Labour and Employment, Bangladesh Investment Constructing Authority, ICT Division, and various relevant stakeholders.
Lynch reiterated the USTR Office’s dedication to working with the meantime executive to mark a clear, predictable, stable, and regulated industrial surroundings in Bangladesh.
The USTR delegation highlighted their readiness to cooperate and toughen all the vital labour reforms, IP regulation, and customs modernisation.
Lynch harassed out that implementing the 11-level Labour Action Concept proposed by the US side is a key component for reinstating the GSP facility in the US market and obtaining finance from the DFC.
The out of the country secretary thanked the US executive for his or her continued partnership with the meantime executive in commerce, funding, and pattern.
He reaffirmed the dedication of the meantime executive to increase the domestic labour surroundings aligned with global standards and to increase the industrial native climate for more out of the country investments.
The out of the country secretary highlighted the progress accomplished in labour sector reforms by, among others, rising the wage increment by 9% each and every year, implementing an 18-level labour settlement and revising the Bangladesh Labour Act by the major quarter of 2025.
Jashim Uddin also highlighted the reform initiatives taken by major regulatory bodies to ease doing industrial in Bangladesh.
