The Bangladesh government has stated that garments made with cotton produced from the US should be provided with a duty-free access to the American market. The US already provides this facility through agreements with sub-Saharan African and Caribbean countries under an African Growth and Opportunity Act (AGOA) and Caribbean Initiative. On an average, the US charges 15.6 per cent import duty on Bangladeshi products, which tend to be largely garment.
The US is the single biggest export destination for Bangladeshi products. The country recorded earnings of $6.9 billion from exports to America in fiscal 2018-19. Bangladesh's apparel shipments to the US edged up in 2019 -- a heartening development given the inclement condition on the export front.
According to Export Promotion Bureau figures, Bangladesh apparel shipments declined by 6.21 per cent to $16.02 billion between July and December 2019. However, the country’s export revenues increased by 9.47 per cent to $5.69 billion.
