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TICFA Meet Held

US urged to produce C-19 vaccine in BD 

Published : Thursday, 27 August, 2020 at 12:00 AM  Count : 338

The government has urged the United States to produce medicines and vaccines in Bangladesh.
The drugs and vaccines produced in Bangladesh will be allowed to be shipped to the US or exported to any other country.
 At the same time, the US has been asked to allow duty free access for medical accessories including anti-Covid-19 personal protective equipment
(PPE) and masks produced in Bangladesh.
The proposal was made at a virtual meeting of the Trade and Investment Forum Agreement (TICFA) between the two countries on Tuesday.
This was sixth meeting between the countries on TICFA.
The Commerce Secretary Md. Zafar Uddin represented Bangladesh while Chris Wilson, USTR's Assistant Representative for South and Central Asia at the US Department of Commerce represented the US.
A source who attended the meeting said the United States welcomed the agreement's offer on vaccine and pharmaceutical production and said it would discuss the issue with its public and private sectors to work together.
Commerce Ministry officials said the meeting was scheduled to take place in Dhaka last March. To this end, the two sides also finalized the agenda of the talks, among which 18 issues were sterilization of cotton with the help of smoke, subsidy on rice exports, GSP facilities for Bangladeshi products in the US market.
But the severity of the global corona epidemic since March has not only delayed the meeting, it has changed the agenda.
In the changed circumstances, the virtual meeting between the two parties focused on the agreement with the US on the production of corona vaccines and drugs.
The meeting also discussed about the compensation for orders canceled by US buyers due to corona.
Besides, the issue of reinstatement of GSP facility has been raised by Bangladesh but the US reiterated that it would review the issue.
A senior official who participated in the meeting said that Bangladeshi companies are producing quality medicines.
Those drugs are being exported to 107 countries including the United States. With this in mind, it has been proposed to manufacture the drug in the company here in the country.
Various companies in Bangladesh are manufacturing and exporting medical accessories including PPE and masks as per the guidelines of the World Health Organization.
In view of this, zero duty has been proposed on the export of these equipments to the US.








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