VOL NO REGD NO DA 1589

Thursday, December 29, 2005

HEADLINE

POLITICS & POLICIES

METRO & COUNTRY

VIEWS & REVIEWS

EDITORIAL

LETTER TO EDITOR

COMPANY & FINANCE

BUSINESS & FINANCE

TRADE/ECONOMY

LEISURE & ENTERTAINMENT

MARKET & COMMODITIES

SPORTS

WORLD

 

FE Specials

FE Education

Urban Property

Monthly Roundup

Saturday Feature

Asia/South Asia

 

Feature

13th SAARC SUMMIT DHAKA-2005

WOMEN & ECONOMY

57th Republic Day of India

US TRADE SHOW

 

 

 

Archive

Site Search

 

HOME

COMPANY & FINANCE
 
Looking for ways to ensure duty-free access of some 'less important' RMG products to US mkt
Refayet Ullah Mirdha
12/29/2005
 

          Local readymade garment (RMG) exporters and experts are conducting research on ways to ensure duty-free access of some less important RMG products into the US markets.
They said under the new World Trade Organisation (WTO) deal, there is no chance of duty-free access of the major RMG products of Bangladesh into the US.
But, if the US buyers relax their import approach, there could be some chances of getting duty-free access of less important garment items.
Hoping against hope, the RMG exporters and experts are taking preparation to select the suitable digits under which Bangladeshi garment products can still get duty-free access into the US market to a limited extent.
"We are doing homework to select the digits that may be suitable for the Bangladeshi RMG products for entering into the US market under duty-free category. Both 8 and 10 digits may be suitable for Bangladesh, as the matter is still under consideration," said research director of the Centre for Policy Dialogue (CPD) Mustafizur Rahman while talking to the FE.
"So far I know, the US buyers import RMG products under both 8 and 10 digit categories, but which is suitable for Bangladesh, it is yet to be known," Mustafiz said.
He said after concluding the research, Bangladesh would propose its suitable digit to the US authorities for getting duty-free access at the first follow-up meeting of WTO Hong Kong Ministerial, which is scheduled to be held in Geneva next year.
Former president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Annisul Huq said the higher numerical digit like 10-digit might be suitable for Bangladesh as there is still a chance for duty-free access of some less important RMG products into the US market under this category.
But the entire matter should be reviewed thoroughly to fix the suitable digit for the interest of the country, he said.
On return from the recently-concluded Hong Kong Ministerial, Annisul at a press conference, said if the US keeps the import at 8-digit level then Bangladeshi garment products have no chance of duty exemption though other products enjoy the privilege, he added.
Huq said under the 10-digit level at least 16,000 products will come under import tariff line.
If this is the case, then some less important Bangladeshi garment items could enjoy duty-free access to the US markets, he said.

 

 
  More Headline
Looking for ways to ensure duty-free access of some 'less important' RMG products to US mkt
Rahimafrooz CNG signs MoU with StanChart
Price indices on both bourses rise
Prime Bank opens Laldighi East branch
Dollar, call rate remain steady
China begins construction of first hydropower plant
Shoppers pour into Harrods as post-Christmas sale starts
New law likely soon to monitor funding, spending of micro finance
KCCI urges Dhaka to sign free trade deal
Int'l Confce on Mechanical Engg begins in city
DBBL opens its 27th branch at Barisal
HSBC buys stake in Vietnamese bank for $17.3m
BRAC Bank signs MoU with Navana CNG
Siemens, Doosan win $1.8b contract in Saudi Arabia
Asian stocks close mixed, Tokyo shines
Anlima Yarn Dyeing approves 5pc dividend
Shahjalal Bank’s branch at Baipail
 

Print this page | Mail this page | Save this page | Make this page my home page

About us  |  Contact us  |  Editor's panel  |  Career opportunity | Web Mail

 

 

 

 

Copy right @ financialexpress.com