Commerce Minister Tofail Ahmed on Wednesday said Bangladesh does not need Generalised System of Preference (GSP) facility from the United States as the country will soon be elevated to the group of developing nations.

‘We’ll be elevated to a developing nation from the least developed one very soon. So, we don’t need the GSP facility from the US now,’ he said while talking to reporters at the secretariat after a meeting with Japanese Ambassador to Bangladesh Hiroyasu Izumi, reports the UNB.

‘The USA won’t give us the GSP, no matter how much we achieve…now we don’t expect it either. Our achievements are satisfactory though every year we give $ 900 million to the US as custom duty. I’ll make the mater clear in the next trade fair where US representatives will be present,’

‘Now the question of GSP comes with the European Union (UN), we shall demand for GSP-plus from them,’ Tofail said.

Referring to Japanese investment, Tofail said Bangladesh has signed many agreements with Japan and the country will make 100 per cent investment in one of the 100 special economic zones of the country, the minister said.