The Governments of the U.S. and Bangladesh held their second annual Trade and Investment Cooperation Framework Agreement (TICFA) Council Meeting on Monday, November 23rd. The TICFA is the premier bilateral forum for U.S. and Bangladesh engagement aimed at expanding our trade and investment relationship. The meeting was chaired by Assistant United States Trade Representative Michael Delaney and Secretary of the Bangladesh Ministry of Economy Hedayetullah Al Mamoon.
The discussions focused on a wide range of bilateral trade and investment issues, including labor rights and workplace safety under the GSP Action Plan and the Bangladesh Sustainability Compact; trends in the investment climate in Bangladesh; capital controls; developments in plurilateral and multilateral trade fora; and opportunities for investment in and cooperation with Bangladesh in several areas, including the development of infrastructure and energy resources. A number of sector-specific market access and commercial issues were discussed with the goal of expeditiously resolving them.
The two delegations noted the benefits that bilateral trade and investment continued bring to the people of both nations, and resolved to continue working together to foster an environment that would create jobs and raise standards of living for Bangladeshis and Americans alike.
Annual U.S.-Bangladesh two-way goods trade was valued at $6.4 billion in 2014.
Participants agreed to hold the 3rd TICFA Council meeting in 2016 in Dhaka, Bangladesh at a date to be determined.