Govt to review Bangladesh-US trade agreement, says PM’s Adviser Zahed
The matter will be examined and investigated, he said at a press conference on the progress of various government activities at the Press Information Department (PID) conference room at Secretariat.
Highlights:
- Government will review the trade agreement with the United States instead of cancelling it immediately
- The deal allows cancellation with a 60-day notice and permits changes through mutual discussion
- The government is reviewing the agreement and may renegotiate parts considered harmful
- Zahed warned that cancellation could create complications in bilateral ties and tariffs
The government will review the trade agreement signed with the United States instead of moving immediately towards cancellation, said Prime Minister's Information and Broadcasting Adviser Zahed Ur Rahman on Tuesday (12 May) .
"If we look at the agreement, we will see there is an option to cancel it. It can be cancelled with a 60-day notice. That is one aspect. Another condition in the agreement is that the two countries can modify different provisions through discussions."
Keep updated, follow The Business Standard's Google news channel
"From my position, I think we can at least first review the agreement at the government level," he added
Referring to public discussions on the agreement, he said newspapers columns and video commentaries highlighting possible problematic aspects should continue.
Zahed said he has discussed the issue with the Prime Minister.
"We are reviewing the agreement within the government. It is a very strong agreement and we understand the impact if it is cancelled, as well as the context in which it was signed," he said.
"However, we can consider revisiting certain problematic areas that we think may be harmful to the state. We would like to enter negotiations with them. Cancelling it may again create complications in bilateral relations or reciprocal tariffs," he added.
Responding to another question, he said there are different types of agreements including contracts and memorandums of understanding (MoUs). "Some agreements are legally binding. In many cases, the legal bindings are so strict that leaving them can be more harmful than staying," he said.
He also said that a democratically elected government considers multiple factors in such decisions.
