DHAKA: The United States has expressed commendation for Bangladesh’s interim government, recognizing significant improvements in labor rights and the business climate. The acknowledgment came during a meeting between a U.S. Trade Representative delegation and Bangladesh’s Foreign Secretary, Md. Jashim Uddin, at the foreign ministry.
According to Bangladesh Sangbad Sangstha, Brendan Lynch, Assistant U.S. Trade Representative for South and Central Asia, led the USTR delegation, which expressed optimism about the upcoming United States-Bangladesh Trade and Investment Cooperation Forum Agreement (TICFA) meeting. This session is expected to take place in Washington, DC, early next year, focusing on enhancing bilateral trade, investment, and development cooperation.
The delegation included Megan Bouldin, Chargé D’affaires in Bangladesh, and Emily Ashby, Trade Policy Analyst for South and Central Asia, as well as economic and labor attaches from the U.S. Embassy in Dhaka. They discussed progress in labor reforms w
ith the foreign secretary and the potential reinstatement of the Generalized System of Preferences (GSP) facility and financing from the Development Finance Corporation (DFC).
The USTR delegation updated the foreign secretary on pre-TICFA discussions held with several Bangladeshi ministries and stakeholders. Lynch emphasized the USTR Office’s dedication to working with the interim government to establish a transparent and stable business environment. He also highlighted the importance of implementing the 11-point Labor Action Plan to reinstate the GSP facility and secure DFC financing.
The foreign secretary expressed gratitude for the U.S. government’s ongoing partnership and reaffirmed Bangladesh’s commitment to enhancing labor standards and improving the business climate. He noted progress in labor reforms, including a 9% annual wage increase, the implementation of an 18-point labor agreement, and plans to revise the Bangladesh Labor Act by early 2025. Jashim Uddin also mentioned initiatives by regulatory
bodies to facilitate business operations in the country.