US trade deal against national interest, new govt must scrap it: Bangladesh media​

New Delhi, Feb 17 (SocialNews.XYZ) Bangladesh’s newly elected government should take the initiative to cancel a trade deal inked by the Muhammad Yunus-led interim government with the US, as the agreement is against national interest and violates its independence and sovereignty, opined an article in Dhaka’s media. ​

The agreement, signed on February 9, “just three days before the national election by a temporary interim government, while maintaining strict secrecy, has raised concerns for various reasons,” stated an opinion piece in Bangladesh daily The Daily Star on Tuesday. ​

“In particular, the inclusion of strategic conditions related to national security and geopolitics in addition to tariff concessions has raised questions about how far Bangladesh’s interests have been protected in the agreement,” it said. ​

The article pointed out that the interim government did not disclose the concessions Bangladesh must provide, “But a contract released by the Office of the United States Trade Representative (USTR) shows that the country has been entangled in a wide range of conditions in exchange for a small tariff concession,” it added. ​

Dhaka's compliance included extensive tariff concessions for the United States, the removal of non-tariff barriers to Washington’s industrial exports, the removal of non-tariff barriers to agricultural and biotechnology products, and the mandatory import of costly goods.​

In the end, it raised a diplomatic conundrum that the new government is likely to face, owing to the agreement. ​

“To prioritise US interests, the agreement includes provisions that may hinder Bangladesh’s independent sovereign decision-making. It restricts Bangladesh from entering into any agreement or understanding with a third country that contains scientifically unsubstantiated, discriminatory, or biased technical standards that could harm US exports,” it claimed, quoting Article 2.3 (3), Section 2 of the agreement. ​

It stressed that, as per Article 3.2, Section 3, “Bangladesh will not be able to sign any digital trade agreement with another country that undermines US interests.” ​

Additionally, “If Bangladesh enters into any free trade or preferential economic agreement with a non-market-based country (China and Russia, as considered by the US) that undermines this agreement, the US will be able to cancel the agreement and reimpose punitive tariffs (Article 4.3 (4), Section 4).” ​

The article also stated that Bangladesh will not be able to purchase nuclear reactors, fuel rods, or enriched uranium from countries considered “risky to US interests”. The only exemption that may apply is when there is no alternative supplier or technology, or where agreements had already been signed before this agreement took effect. ​

“Therefore, through this so-called trade agreement, arrangements have effectively been made to establish US dominance over Bangladesh’s economy, trade, and foreign policy. From industry and agriculture to energy and infrastructure, all sectors of Bangladesh have been subordinated to US commercial interests. Bangladesh has been drawn into US geopolitical projects, and its ability to build relationships with third countries has been restricted,” it argued. ​

“In short, this agreement is against the national interest and violates Bangladesh’s independence and sovereignty,” it alleged, stressing, “An agreement signed by a temporary interim government while keeping the people of the country in the dark cannot be considered legitimate.” ​

Stating that according to Article 6.6 of the agreement, it is supposed to come into effect 60 days after the completion of all legal processes. “It is hoped that the newly elected government will take the initiative to cancel this agreement through discussion in the national parliament, as it runs contrary to national interests,” the opinion piece concluded.

Source: IANS