Hello Steemians,
Today I'm going to tell you about the GSP facilities in Bangladesh.
Recently the USA government has suspended the GSP (Generalised System of Preference) facility for Bangladesh exports. Bangladesh used to export furniture, toys, ceramic table wares,plastic materials, tents, tobacco products etc.Under the GSP facility meant for the least developed and the developing countries.
Bangladesh exported goods valued at USD 35 million to the US under the latter's GSP facility in 2012 against which the former enjoyed a tariff benefit of USD 2.0 million. Goods exported under GSP enjoys 'duty-free' access. On the other hand Bangladesh exported ready-made garments worth USD 4.9 billion to the US retailers which was subjected to 15 per cent tariff.Bangladeshi exporters paid USD 750 million dollars in tariff charges.However, the concerned stakehold apparently a bit panicky about the withdrawal of GSP facility by other countries or territories, especially the European Union (EU),where almost all products, most importantly, the ready-made garments enjoy GSP facility.
Obviously our exporters,especially the relevant exporters, are not happy with the US decision.The suspension may be 'short-lived'; may be for six months only.However, Bangladesh will have to do a good job with regard to meeting certain conditions especially the relevant include
- ensuring better working condition
- making the workplace safe
- ensuring competitive wages and, more importantly
- giving the workers the right to form trade unions.
Following the Rana Plaza tragedy in 2013 building code and workers safety compliance took a 'front seat' President Barak Obama thought Bangladesh needed to show more success with regard to workers safety and right to form union.
Incidentally, Bangladesh is not alone to face the harsh measure like GSP suspension. There were more than dozen countries that had faced this harsh reality in the past.The good part is almost all of those countries took this GSP facility withdrawal issue very seriously and were successful to work together and got back the facility.Therefore, Bangladesh can't be an exception. The country needs to--
- Review its labour law immediately accommodating latest opportunities developments,
- Take some concrete steps with regard to building and work place safety,
- Review the trade union issue in the export processing tic steps, and
- Handle the overall trade union formation or workers' right to form association issue diligently without causing 'much damage' to the indiscipline in the industries sector.
No doubt handling the issue keeping cool an extremely tough job, particularly when the nations is sharply divided on the 'political line'. However, the US is the most important country for Bangladesh.This is all the more important when the US has agreed to work with Bangladesh for improving the labour standards in Bangladesh and restoring back the GSP facility.We need to look forward with confidence and put in place an action team or taskforce at the ministry of commerce.This should be literally driven by the senior officials in the commerce ministry.Commerce ministry must build its core competence; work with other relevant ministries like labour industry, home, foreign and finance; and other stakeholders like -- BGMEA, BKMEA, Bangladesh Employers Federation,BEPZA and Exporters Association.
Workers, owners, political leaders including the opposition,trade union stalwarts,media,law enforcing agencies, regulatory and quasi regulatory bodies all must be in sync and move on with a shared vision.Like the elimination of 'child labour' in the apparel sector, if we can put in our acts together, who knows Bangladesh may be able to restore the GSP facility earlier than anticipated.
I want to say thanks to you my dear reader, that knows what I want to explain.
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I am proud of Bangladesh. Great post.
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