Written by The Banking Post
A Bangladeshi delegation is set to leave for the United States tomorrow (Monday) evening to engage in discussions aimed at resolving tariff issues and reducing the trade deficit.
Commerce Secretary Mahbubur Rahman shared the information with journalists at his office in the Secretariat on Sunday (27 July).
He stated, “Previously, we had 14 orders, which have now been increased to 25. This decision has been made to further reduce the tariff gap. The orders will be delivered based on Boeing’s capacity, which may take one to two years.”
On the other hand, the United States Trade Representative (USTR), the country’s main trade negotiation body, has invited Bangladesh for the third and final round of tariff negotiations, scheduled for July 29 and 30, Rahman added.
“We submitted our position paper on the 23rd. This time, there will be in-person discussions on the key issues. The meetings will take place at the USTR office in Washington on July 29–30. Trade Adviser Sheikh Bashir Uddin and Chief Adviser’s Representative Khalilur Rahman will be present at the meetings,” he said.
Regarding the upcoming discussions, Rahman also mentioned initiatives related to the import of soybean and cotton.
He said, “Private importers of soybean are now trying to source from U.S. exporters. When we sit with USTR, the private importers will simultaneously hold discussions with U.S. soybean exporters. We hope both sides will reach an understanding.”
As for cotton imports, the secretary noted that an agreement had already been reached. “Three years ago, we used to import cotton worth $1.8 billion. That amount has since declined. If we can restore it to previous levels, it would help reduce the trade deficit by $1 billion.”
