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But the coup de grace was delivered by the world’s richest country, the United States, which once again decided to demonstrate its hypocrisy. The US ostensibly agreed to a 97% opening of its markets to the poorest countries. The developing countries were disappointed with the results of Europe’s EBA initiative, and Europe has responded by committing itself to dealing with at least part of the problem that arises from the rules of origin tests. America’s intention was, to the contrary, to seem to be opening up its markets, while doing nothing of the sort, for it appears to allow the US to select a different 3% for each country. The result is what is mockingly coming to be called the EBP initiative: developing countries will be allowed freely to export everything but what they produce. They can export jet engines, supercomputers, airplanes, computer chips of all kinds – just not textiles, agricultural products, or processed foods, the goods they can and do produce. Consider Bangladesh. If we go by the most widely used six-digit tariff lines, Bangladesh exported 409 tariff lines to the US in 2004, from which it earned about $2.3 billion. But its top 12 tariff lines – 3% of all tariff lines – accounted for 59.7% of the total value of its exports to the US. This means that the US could erect barriers to almost three-fifths of Bangladeshi exports. For Cambodia, the figure would be about 62%.

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Source : IIPM Editorial, 2006, Editor - Prof. Arindam Chaudhuri

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