A recent meeting of the U.S.-Bangladesh Trade and Investment Cooperation Forum Agreement Council, the first since March 2020, highlighted some of the continuing concerns affecting trade between the U.S. and one of its top ten suppliers of textile and apparel goods. This meeting followed high-level talks the two sides held in June.
According to a press release from the Office of the U.S. Trade Representative, Bangladesh expressed interest in the restoration of its beneficiary status under the Generalized System of Preferences (though GSP expired nearly two years ago and has no immediate prospects for reinstatement). The U.S. responded by emphasizing the need for greater alignment between Bangladesh’s labor laws and international labor standards, particularly by extending the rights of freedom of association and collective bargaining to the country’s export processing zones and special economic zones. The U.S. also expressed an interest in bilateral collaboration on forced labor in global supply chains.
Digital trade policies were another area of concern for the U.S., which urged Bangladesh to develop such policies that (1) support small business participation in the digital economy; increase trust for consumers, businesses, and workers; and facilitate secure cross-border data flows but (2) do not disadvantage foreign and domestic suppliers, disclose proprietary data, or increase cybersecurity risks. The U.S. also said such policies should be developed in an open and transparent manner with opportunities for public input.
Other areas of interest for the U.S. included improving the business environment (specifically with respect to predictability and transparency) for domestic and foreign companies operating in Bangladesh, further reforming the country’s intellectual property laws, and facilitating trade in food and agricultural products by using science and risk-based policies.
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