Fire fighting equipment import duty waived

Fire fighting equipment import duty waived

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Bangladesh has announced the waiver of duty on the import of fire-safety equipment in the first US-Bangladesh Ticfa meeting in Dhaka on Monday with a view to “solving problems”.
Assistant US Trade Representative for South Asia Michael Delaney, who led the US side, described the meeting at a joint press briefing as “very productive” and “very pragmatic”. He said the promise on which Ticfa was based was “100 percent” intact.
Dhaka and Washington singed the Trade and Investment Cooperation Forum Agreement (TICFA) on Nov 25 last year, effective from Jan 13 this year, following more than a decade of talks.Commerce Secretary Mahbub Ahmed led the Bangladesh side. The two sides ironed out issues that Delaney said “inhibit” trade and investment.
He said Ticfa was aimed at removing obstacles that stand in the way of boosting two-way trade.
Delaney said the meeting gave them better understanding that he believed “would be a good foundation to solve problems on the way”.
“We learnt a lot. Our delegation learnt a lot”.
He said they were gratified to hear Bangladesh’s announcement that it was going to eliminate tariff on equipment necessary to improve fire safety in the ready-made clothes industry.
The Commerce Secretary said they had reviewed bilateral trade and investment situation, GSP action plans, and discussed market access of goods and services, US investment in Bangladesh, transfer of technology, implementation of the Bali package and progress of the Istanbul plan of action.
He said the US side raised the issues of tariff on fire, electricity and structural safety equipment, public tender specifications, double fumigation of cotton from the US, diabetes drugs, currency issue, delayed payment, intellectual property rights and regional cooperation.
He said they had also discussed labour affairs and women employment raised by the US delegation.-bdnews24.com

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