Ticfa: US to seek quick profit repatriation for its firms | The Business Standard
Skip to main content
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Monday
June 02, 2025

Sign In
Subscribe
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
MONDAY, JUNE 02, 2025
Ticfa: US to seek quick profit repatriation for its firms

Bangladesh

TBS Report
18 September, 2023, 09:50 am
Last modified: 19 September, 2023, 11:19 am

Related News

  • Rail, waterways trade between India and Bangladesh sees sharp contraction in FY25
  • First Security Islami Bank reports Tk55,920cr in classified loans
  • Islami Bank yet to publish financials for 2024, subsequent quarter
  • China to cooperate with Bangladesh on agriculture, research, visiting minister tells CA
  • No one knows when Ophthalmology Institute will reopen

Ticfa: US to seek quick profit repatriation for its firms

Bangladesh will insist on facilitating the registration of Bangladeshi pharmaceuticals products in the US at the meeting

TBS Report
18 September, 2023, 09:50 am
Last modified: 19 September, 2023, 11:19 am
Photo: Collected
Photo: Collected

The United States at the upcoming meeting of the Trade and Investment Cooperation Forum Agreement (Ticfa) will raise the issue of American companies facing problems in repatriating profits from their investments in Bangladesh.

Several US firms, including MetLife Insurance, are encountering challenges repatriating their profits from Bangladesh due to the dollar crisis in the country, according to commerce ministry officials.

Several US investors in Dhaka met with the governor of the central bank earlier this month and discussed the issue. The US will again raise the issue as an important agenda item in the meeting, the ministry officials said.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The US has also set several other agendas, including market access, labour rights, trade policies, intellectual property issues and investment climate for the meeting, to be held at a Dhaka hotel on 20 September.

Labour rights and freedom of expression are top agendas of the US, Tapan Kanti Ghosh, senior secretary of the commerce ministry, said yesterday after a preparatory meeting for Ticfa.

"They [US] want all applications for trade unions to be granted. They have linked labour rights issues with everything," he added.

The US is also expected to propose amendments to the Agricultural Biotechnology Dialogue and the Seed Act Rules.

On the other hand, Bangladesh will propose to impose tariffs only on the amount of value addition in Bangladesh in the case of garment products made of cotton imported from the US for export to the country's market.

"Since cotton is imported from the US and RMG is made and exported to the US, it is like a buyback. Therefore levy on full value of RMG is not justified," Tapan Kanti Ghosh said.  

"I will also highlight the fact that Bangladesh's exports to the US market have decreased," said the commerce secretary.

Besides, Dhaka will seek US support for LDC Group's proposal in the World Trade Organization (WTO) to continue duty free quota free access facility to the US market and duty free export facility and TRIPS benefit for six years even after LDC graduation.

The commerce secretary said the US objected to the WTO's proposal. The rest of the countries have either supported the proposal or are silent following the US. 

Bangladesh will emphasise that the US supports the LDC proposal at the WTO ministerial meeting next year, he added.

Bangladesh will also insist on facilitating the registration of Bangladeshi pharmaceuticals products in the US and getting financing from the US International Development Finance Corporation. 

Regarding counterfeit issues, the commerce secretary said, "Rights are legally guaranteed in Bangladesh, and if violated, individuals can sue for justice. However, the US wants the government to file a case in this case, which is not feasible. We will present this statement."

Tapan Kanti Ghosh and acting Assistant US Trade Representative for South and Central Asia Brendan Lynch will co-chair the Ticfa meeting. Both delegations will include officials from trade, labour, agriculture, and other relevant ministries.  

This is going to be the 7th round of Ticfa meetings between Bangladesh and the US. 

The US and Bangladesh have formally engaged on trade issues since the US-Bangladesh Ticfa entered into force in 2013.

Top News

Trade and Investment Cooperation Forum Agreement (TICFA) / Bangladesh / USA

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Cartoon: TBS
    A budget meant to fix, not to dream
  • Bangladesh can be a first choice for our investment: Chinese business leaders 
    Bangladesh can be a first choice for our investment: Chinese business leaders 
  • Atik Morshed. Photo: Collected
    ACC finds irregularities in Nagad; Atik Morshed, his wife may be questioned

MOST VIEWED

  • Infographic: TBS
    Govt targets Dec opening of Dhaka airport's 3rd terminal but Japanese consortium wants 2 more months
  • Infograph: TBS
    Low imports, low confidence, low growth: Is Bangladesh in a slow-burning crisis?
  • Representational image. Photo: Reuters
    Remittance hits second-highest monthly record of $2.97b in May ahead of Eid
  • Budget may offer major tax breaks for capital market
    Budget may offer major tax breaks for capital market
  • Teesta River overflowing at one of its gates on 1 June 2025. Photo: UNB
    44 gates opened as water levels in Teesta rise
  • Infographic: TBS
    Jobs drying up as private sector struggles to survive

Related News

  • Rail, waterways trade between India and Bangladesh sees sharp contraction in FY25
  • First Security Islami Bank reports Tk55,920cr in classified loans
  • Islami Bank yet to publish financials for 2024, subsequent quarter
  • China to cooperate with Bangladesh on agriculture, research, visiting minister tells CA
  • No one knows when Ophthalmology Institute will reopen

Features

Photo: Collected

Slice, store, sizzle: Kitchen must-haves for Eid-ul-Adha 2025

17h | Brands
The wide fenders, iconic hood scoop and unmistakable spoiler are not just cosmetic; they symbolise a machine built to grip dirt, asphalt and hearts alike. PHOTO: Akif Hamid

Resurrecting the Hawkeye: A Subaru WRX STI rebuild

23h | Wheels
Babar Ali, Ikramul Hasan Shakil, and Wasfia Nazreen are leading a bold resurgence in Bangladeshi mountaineering, scaling eight-thousanders like Everest, Annapurna I, and K2. Photos: Collected

Back to 8000 metres: How Bangladesh’s mountaineers emerged from a decade-long pause

2d | Panorama
Photos: Courtesy

Behind the looks: Bangladeshi designers shaping celebrity fashion

2d | Mode

More Videos from TBS

Can India replace China in world trade?

Can India replace China in world trade?

8h | Others
Chief Advisor–Party Meet: Consensus or Confrontation?

Chief Advisor–Party Meet: Consensus or Confrontation?

10h | Podcast
What did the BIDA Executive Chairman say about the China-Bangladesh Investment and Trade Summit?

What did the BIDA Executive Chairman say about the China-Bangladesh Investment and Trade Summit?

11h | TBS Today
News of The Day, 01 JUNE 2025

News of The Day, 01 JUNE 2025

12h | TBS News of the day
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net