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Dhaka sees a ray of hope for Rohingya repatriation and restoring Generalised System of Preferences facilities as new US President Joe Biden is focusing on promoting democratic institutions, human rights and is supportive of the developing countries’ causes. “Our expectation from the Biden administration is indeed reasonably higher and we believe the US will again lead the world in achieving core values and principles,” said Foreign Minister AK Abdul Momen.

Momen said Bangladesh and the US have excellent trade relations and that has been proven even during the pandemic when Bangladesh supplied 6.5 million PPEs to the US market.

Over 90 percent of Bangladesh’s exports to the US is readymade garments, but it faces nearly 15.6 percent tariffs on average.

“Since the pandemic, to assist hard-hit US consumers of garments, the US may put a moratorium on its tariffs to Bangladesh exports for a period of three years and this will surely help,” he said.

BEI President M Humayun Kabir said the US discontinued GSP following the Rana Plaza collapse in 2013. Today, as the US Congress will soon revise the GSP policy, it should reconsider providing facilities to Bangladesh. In that case, both the Bangladesh and the US can benefit.

Source: The Daily Star