Foreign affairs minister Dipu Moni is optimistic that Bangladeshi products would get more facilities to enter the US with or without a Trade and Investment Framework Agreement between the two countries. She also stressed that Bangladesh wanted "trade, not aid." "TIFA or not TIFA, I am very hopeful that we will have to better access to the US market," she said at a seminar organised by Bangladesh Garment Manufacturers and Exporters Association at Sonargaon Hotel on Thursday.

The foreign minister referred to the five-day visit of US assistant trade representative for South Asia, Michael J Delaney, in October, who pushed for the TIFA while here. "Both sides are considering the issues. There are some gaps here. We need to bridge the gap and need more talks." "This is not the only framework. If we cannot reach a consensus then let us look for another method," she said.

US ambassador to Bangladesh James F Moriarty raised the TIFA issue at a seminar on 'Market Access and Diversification' organised by BGMEA. "Bilateral trade rose by 11 percent to roughly $4.2 billion in 2008, even as global trade declined in the wake of the global recession. I am happy to see our trade increasing, but I believe that we can do even better," Moriarty said. "One way we can increase bilateral trade and investment is to sign a TIFA." "I understand that there are some concerns over language in the draft TIFA on labour, environment and intellectual property rights. I believe these concerns are unwarranted for several reasons."

Since TIFAs are non-binding agreements, said Moriarty, the language of the document would have no effect on existing international commitments in these areas. Rather it would simply reaffirm our common interest in discussing any trade issues with respect to labour, environment and intellectual property rights." He also suggested clarifying any confusion through discussions with other TIFA partners of the US in South Asia. Signing a Trade and Investment Framework Agreement with the US is a controversial issue in Bangladesh, considered as an agreement that would benefit the more powerful country.

Many are particularly concerned that Bangladesh would be in a weaker position in multilateral forums on trade liberalisation like the WTO if it is a signatory to a TIFA with the US. Senior research fellow Khandaker Golam Moazzem of Centre for Policy Dialogue presented the keynote paper in the seminar.He said 79.3 percent of Bangladesh's exports are readymade garments, of which 43 percent head to Europe and US.

He suggested searching out new markets. "There is great potential in the Japanese market for Bangladeshi clothing." "Other than this, clothing exports will have to be increased to Hong Kong, Korea, Mexico, Taiwan, Russia, United Arab Emirates, South Africa and Brazil." Moazzem mentioned the importance of economic diplomacy. "Foreign affairs ministry, commerce ministry, export promotion bureau, embassies of Bangladesh in other countries, BGMEA and BKMEA will have to work together for better market access and diversification."

Dipu Moni said Bangladesh missions had already been instructed to search for new markets and work to increase exports. She said, "We do not want aid. We want trade and more access." BGMEA president Abdus Salam Murshedi presided over the seminar on the first day of BATEXPO – 2009, the biggest exposition of the readymade garments industry in Bangladesh. Prime minister Sheikh Hasina inaugurated the three-day fair on Thursday morning.

-bdnews