Bangladesh to Utilize GSP Facilities

Dhaka, Bangladesh (AHN) - The Bangladesh government has taken measures to increase utilization of Generalized System of Preferences (GSP) facilities to boost export earnings, officials said in the capital, Dhaka.

The state-run Export Promotion Bureau (EPB) has already formed a four-member committee headed by its director, M. Abdur Rahman, in line with the commerce ministry's decision.

"We have already started preparation of the report through consultations with stakeholders," an EPB senior official told AHN in Dhaka. He also said the committee discussed the matter with the representatives of trade bodies on May 14.

In 2005, Bangladesh utilized an average of 65.7 percent of GSP facilities. The rate of utilization was 60.1 per cent in 2004, according to the official statistics.

Under the GSP scheme, the country exports mainly jute and jute goods, leather and leather goods, handicrafts, ceramic products, vegetables and fruits, frozen foods, footwear and textiles. Bangladesh enjoys GSP facilities as an underdeveloped country.