Describing Bangladesh as a middle-income state, Commerce Minister Tofail Ahmed firmly said that Bangladesh doesn’t need the Generalised Scheme of Preferences (GSP) facility from the United States anymore.
“We are already a middle-income state; the GSP privilege will eventually be abolished after we officially get the note. We don’t want the GSP anymore from the US.”
The minister made the remark to the media after holding a meeting with a business delegation of US government’s Asia region at his office on Thursday.
Terming Bangladesh as a role model of development, Mr Ahmed said, “We will form a Free Trade Agreement (FTA) with the USA to boost up bilateral trade relations.”
Talks have also been held to set up a commercial wing in the US embassy, he added.
The minister also said that the United States is the principal market for the country with $ 6 billion export business which is being still expanding.
US government’s Commercial Executive Director of the Asia Pacific region James Golsen also echoed Tofail Ahmed saying, “Bangladesh and USA are good friends and we are looking forward to enhancing the trades.”
Bangladesh is marching ahead, he added.
In the fiscal year 2017-18, Bangladesh attained the targeted $ 41 billion export income and it fixed the target to reach $44 billion for the running year.