Written by The Banking Post
Bangladesh has placed an order to purchase 25 Boeing aircraft from a U.S.-based company as part of its strategy to reduce the trade deficit with the United States.
Commerce Secretary Mahbubur Rahman shared the information while speaking with journalists at his office in the Secretariat on Sunday (July 27).
“The U.S. government itself does not run Boeing’s business—private Boeing companies do,” the secretary explained. “India and Vietnam are each purchasing 100 Boeings from the U.S., while Indonesia is buying 50.”
He added that Bangladesh had previously placed an order for 14 aircraft, but the number has now been increased to 25 to further reduce the trade imbalance. Boeing will deliver the aircraft based on its production capacity, which could take one to two years, he noted.
On a related note, Mahbubur Rahman announced that the third and final round of tariff negotiations with the United States Trade Representative (USTR) is scheduled for July 29 and 30 in Washington, D.C.
“We submitted our position paper on July 23. The upcoming meetings will involve in-depth, face-to-face discussions based on those issues,” he said. “The meetings will be attended by Trade Adviser Sheikh Bashir Uddin, Chief Adviser’s Representative Khalilur Rahman, and myself.”
The secretary confirmed that the Bangladeshi delegation will depart for the United States on Monday evening (July 28).
He also mentioned that discussions on soybean and cotton imports will take place during the visit. Private soybean importers from Bangladesh are attempting to secure supply agreements with U.S. exporters.
“While we engage in discussions with USTR, our private importers will simultaneously meet with U.S. soybean exporters. We hope a mutual understanding will be reached,” the secretary said.
As for cotton imports, an agreement has already been finalized. “Three years ago, we imported $1.8 billion worth of cotton. That figure has since declined. If we can restore imports to previous levels, it will reduce the trade deficit by $1 billion,” he added.
