ISDS Case Map
Bangladesh
Draft text of the US-Bangladesh Trade and Investment Framework Agreement as of 30 January 2005
The US is firmly against Bangladesh's request to exclude a clause related to bribery and corruption from the proposed Trade and Investment Framework Agreement (TIFA) between the two countries, reports Xinhua.
The proposed trade and investment framework agreement between Dhaka and Washington aims to establish a joint council on trade and investment by passing the political process and entrusting the fate of trade negotiations with bureaucrats.
Dhaka and Washington through a two-day negotiation ending yesterday finalised the draft of Trade and Investment Framework Agreement (Tifa) paving the way further for creating a platform to talk bilateral trade issues.
The postponement of the Dhaka Summit of Saarc, twice over the past two months, is a setback for the fledgling process of economic integration in South Asia. But that should not prevent India from taking unilateral initiatives for promoting industry and supply capacities in its neighbours, especially Bangladesh.
Bangladesh and US trade officials are close to finalising a draft for a trade and investment framework agreement (TIFA), as Dhaka softened its positions on key debated issues.
Dhaka is likely to soften its position on inclusion of a clause related to bribery and corruption as it enters into the third round of talks with Washington today on a trade and investment framework agreement, sources in the commerce ministry have told New Age.
The US ambassador Harry K Thomas said that his government and Bangladesh would sign a bilateral free trade agreement following the signing of the proposed Trade and Investment Facilitation Agreement (TIFA) that may take place shortly to exploit the business and economic potentials on both sides.
The US has agreed to Bangladesh's proposal for exclusion of issues related to labour laws, environment and intellectual property rights from the main text of a proposed trade and investment framework agreement the two countries are likely to sign some time this year.
The stalled talks for signing a trade and investment framework agreement between Dhaka and Washington will resume soon since the new Bush administration has already set its agenda for coming days, said sources in the government.
