Business leaders seek GSP revival with CA Dr Yunus's help
With Prof Muhammad Yunus recently appointed as chief advisor to the interim government, business leaders are hopeful that his global reputation might help restore the GSP benefits
A decade has passed since the US suspended the Generalised System of Preferences (GSP) for Bangladesh, and the country has yet to regain this trade benefit.
With Prof Muhammad Yunus recently appointed as chief advisor to the interim government, business leaders are hopeful that his global reputation might help restore the GSP benefits.
Today (27 August), key business leaders met with Finance and Commerce Adviser Salehuddin Ahmed at the Economic Relations Department in Sher-e-Bangla Nagar, Dhaka, to discuss the issue.
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Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said, "We have discussed this with the chief advisor. Prof Yunus is well-known worldwide, and we hope his image can help us regain GSP benefits in the US."
Hatem also highlighted that six banks are requiring margins for opening Letters of Credit, and the advisor plans to address this with the governor.
Additionally, Hatem discussed factory security and noted that current issues are being addressed.
He reported improving confidence among buyers, partly due to the chief advisor's involvement.
Regarding business challenges, Hatem mentioned that recent floods have caused significant disruptions in production. Hundreds of trucks are stranded in the Mirsarai area due to safety issues, and there are supply chain problems affecting the Dhaka-Chattogram route.
He stressed the urgent need to develop or reopen Pangaon Port in Narayanganj to alleviate these issues.
