First GSP, then Ticfa to be effective
04 February 2015, Nirapad News: Commerce minister Tofail Ahmed remarked that the Trade and Investment Cooperation Forum Agreement (Ticfa) would not be effective till the restoration of Generalized System of Preference (GSP) from the United States.
The minister came up with this observation in reply to supplementary question of MP AKM Shamim Osman about GSP during the parliamentary session on Wednesday afternoon.
He further said, ‘We fulfilled all terms and condition set by the US. What will we do more?’
Tofail Ahmed said US cancelled the GSP for Bangladesh after the collapse of Rana Plaza in Savar and later set 16 terms to restore the facilities.
In reply to another question, the minister said, ‘The US is not giving the opportunity though it acknowledged that Bangladesh has fulfilled all 13 terms. Now it may become a political reason’.
On November 25, 2013 Bangladesh signed the much-talked-about Trade and Investment Cooperation Forum Agreement (Ticfa) with the US.