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<time class="entry-date published" get_the_author()="" );=""
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<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">Not
that Bangladesh is eligible to join the Trans-Pacific
Partnership (TPP), since it’s still in the dog house with
the United States for its labor standards, but the
Southeast Asian nation has already begun mulling the
benefits and setbacks the 12-nation trade deal could
bring.</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">A
study by the Bangladesh Tariff Commission (BTC) said the
country is neither in a position to join the TPP, nor does
it need to do so.</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">Bangladesh
Ministry of Commerce senior secretary Hedayetullah Al
Mamoon told the Financial Express, “We have been examining
all aspects. We will take a decision on joining the TPP
once it appears necessary for us.”</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">Currently,
Bangladesh has tariff-free access to most of the TPP
member markets under its least developed country (LDC)
status, with the exception of the U.S., which suspended
its trade benefits under the Generalized System of
Preferences (GSP) in June 2013 and so far has not yet
deemed the country fit for reinstatement.</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">Australia,
Canada, Japan, Singapore and New Zealand are among the TPP
member countries that afford Bangladeshi products
tariff-free market access, so joining the TPP would not
have far-reaching benefits in that regard.</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">The
BTC believes that joining the TPP would mean a decline in
revenue from import duties because, as a member of the
bloc, Bangladesh would have to reciprocate the duty breaks
for partner countries.</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">Taking
Singapore and Japan in particular—which together provided
10 percent of Bangladesh’s imports in 2015—earnings from
duties could drop quite a bit. Currently, import duties
account for roughly 27 percent of Bangladesh’s total
revenue earnings, according to the Financial Express.</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">For
now, the country is keeping an eye on Vietnam and the
forthcoming future competition it will face from the
nation expected to benefit the most from the TPP trade
deal.</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">Both
Bangladesh and Vietnam saw the biggest growth in apparel
exports to the U.S. in January, with Bangladesh’s growth
coming in at 11.4% to $498 million and Vietnam exporting
$926 million in apparel to the U.S. in the month, a 16.5%
jump.</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">But
with Vietnam’s membership in the TPP, the country could
soon give Bangladesh an even bigger run for its exports.
Vietnam already pays a lower average duty on apparel
destined for the U.S. than Bangladesh, and with those
duties being overwhelmingly reduced or eliminated once TPP
takes effect, Bangladesh will be at a further
disadvantage.</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">All
that aside, Bangladesh knows its musings about joining the
TPP, at this stage, are just that.</p>
<p style="box-sizing: border-box; margin: 0px 0px 15px;
padding: 0px; border: 0px; outline: 0px; font-size: 15px;
vertical-align: baseline; background: transparent;">“Right
now, Bangladesh is not able to join the TPP bloc,” Centre
for Policy Dialogue executive director Mustafizur Rahman
told the Financial Express. “We need to improve our
standards including addressing the labor issue before
joining the bloc.”</p>
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