United States on Thursday (October 27, 2022) formally opened a new commercial service office at the US Embassy, which will play an important role in strengthening trade ties between the two countries.
US Assistant Secretary of Commerce for Global Markets and Director General of the US and Foreign Commercial Service Arun Venkataraman and US Ambassador to Bangladesh Peter Haas announced the opening of the office.
“As the United States and Bangladesh celebrate 50 years of bilateral relations, it is an opportune moment to expand upon the strong foundation of our bilateral and commercial relationship,” said Venkataraman.
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“The new Commercial Service office here in Bangladesh will play an important role in strengthening trade ties between our countries, and how we support US companies doing business in such a dynamic and fast-growing economy. Trade between our two countries accounts for an estimated $10 billion, showcasing the vast existing and potential opportunities in this country.”
The US Department of Commerce will station a senior Foreign Commercial Service officer at the US Embassy in Dhaka to maximise US export opportunities and work collaboratively with Bangladesh to assist US companies considering entry into or expanding their presence in the Bangladeshi market.
The office will help facilitate one-on-one business counseling, provide tailored export expertise and information on the Bangladeshi market, and work to connect US businesses with potential Bangladeshi partners through business matchmaking and other services.
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The US Foreign Commercial Service is the export promotion arm of the International Trade Administration, a bureau of the US Department of Commerce.
The commercial service has an extensive global network consisting of 122 offices around the world and in over 100 US cities.
The new office in Dhaka will increase the number of international markets to 81. Across Asia, the wing will have a presence in 19 markets, including Bangladesh.
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The International Trade Administration (ITA) at the US Department of Commerce is the premier resource for American companies competing in the global marketplace.
ITA has more than 2,200 employees assisting US exporters in more than 100 US cities and 81 markets worldwide.