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Uncertainty over GSP for RMG export to EU

Tofael leaves for Brussels to find way out
Commerce and Industries Minister Tofael Ahmed left Dhaka for Brussels fester day on a 5-day official visit to Belgium, reports BSS.
The main purpose of the visit is to And a way out of the uncertain future in getting Gen eralised System of Preference (GSP) for Bangladesh garments export to European Union (EU).
LDCs including Bangladesh are enjoying GSP in exporting ready-made garments to EU countries for long as the compensatory measures taken by the developed countries under the General Agreement of Trade and Tariff (GATT) for abiding LDCs by the rules of GATT. Due to GSP provided by the EU. RMG exporters from Bangladesh are getting 12.5 per cent duty ex emption in exporting to EU.
EU is the single largest mar-
ket of Bangladeshi RMG. which consumes 54 per cent of the total RMG export. This year. Bangladesh has the target of total RMG export amounting to 2.8 billion US dollars.
For qualifying for GSP. EU states are trying to impose re striction since eighties Their only condition is related to the rules of origin criteria. They ar gued that for getting GSP three stage transformation-from fiber to yarn, yarn to fabric and fabric to garments will be required for knitted items and two stage transformation from yarn to fabric and fabric to garments will be needed for woven products.
The need for three stage criteria for knitted items is a seri-ous problem because Bangladesh does not produce cotton and sufficient number of spinning mills are yet to be es-
tablished to meet the growing demand to knitwear industries
Although the present government stressing the setting up to back up industries in gar ments sector. As a result, local and foreign investors are now Investing in this sector. But this could meet only about one-third of the total demand at present.
In order to malrftain uninterrupted export growth In gar ments sector, continuation of GSP is badly needed at least for another three years. Government and entrepreneurs in this sector hoped that the Bangladesh could achieve self sufficiency in producing yarn for knitted items by this time.
The minister's visit to Brussels. the European Commission headquarters is to pursue the EU members to continue GSP to Bangladesh exporters fbr an-
other 3 to 5 years. Otherwise, export earning will fall drastically resulting in the closure of garments factories and unemployment of a million women. This may also affect the present government's poverty alleviation programme.
During the visit, besides this negotiation, the minister will hold meeting with Sir Leon Britlon. Manuel Marin Vice-President of EC, Philippe Mayastadat, Vice Prime Minister and Minister for Finance and Foreign Trade of Belgium and Erir Derycre, Foreign Min ister of Belgium.
The minister is accompanied by the official and en trepreneurs including BGMEA President Anisur Rahman Sinha. He is expected to return to Dhaka on January 30 via London.