Written by The Banking Post
Bangladesh has reaffirmed its commitment to strengthening trade and investment ties with the United States, with hopes of securing further tariff cuts as negotiations on a bilateral trade agreement near completion.
Chief Adviser Prof Muhammad Yunus, in a meeting with visiting US Assistant Trade Representative Brendan Lynch in Dhaka on Monday, welcomed Washington’s recent move to lower reciprocal tariffs on Bangladeshi exports from 35 percent to 20 percent. He called it a “key milestone” for the country’s economy but urged further reductions to ensure a sustainable trade balance.
Talks focused on narrowing the trade gap, with Bangladesh offering to expand imports of US agricultural products such as cotton and soybeans, alongside discussions on civil aircraft purchases, LPG imports, drug-control measures, and cooperation on the Rohingya crisis.
“We must make sure the door to US investment in Bangladesh becomes wider,” the Chief Adviser said, adding that the interim government is committed to improving the climate for foreign direct investment.
He also highlighted Bangladesh’s steps under the US-proposed 11-point Labour Action Plan, reaffirming Dhaka’s dedication to international labour standards. Looking ahead, he said Bangladesh expects more investment and concessional credit in health, education, and energy.
Brendan Lynch praised Bangladesh’s “constructive approach” to negotiations and acknowledged its early commitment to reducing the trade gap. “You dispatched a tough negotiating team who worked very hard and effectively,” he said, stressing the importance of timely implementation of tariff agreements and purchase commitments.
Officials from both sides expressed optimism that the bilateral trade agreement would be signed soon, marking a new phase in Bangladesh-US economic cooperation.
