United News of Bangladesh

Bangladesh and the United States (US) on Wednesday emphasised the importance of further strengthening bilateral economic relations by deepening communication and partnerships between the business communities of the two countries. A high-level US business delegation led by US-Bangladesh Business Council President Atul Keshap paid a courtesy call on Prime Minister’s Foreign Affairs Adviser Humaiun Kobir at the Prime Minister’s Office and discussed the issues of mutual interest. During the meeting, they held detailed discussions on further strengthening bilateral trade and investment relations between Bangladesh and the United States, as well as expanding mutual economic cooperation and investment opportunities in Bangladesh. Adviser Kobir welcomed the delegation and said Bangladesh-US relations are long-standing and multidimensional. He said economic cooperation, including trade and investment, can play an important role in further strengthening the bilateral relationship. Highlighting existing opportunities and potential sectors for US investors in Bangladesh, Kobir said the government is committed to ensuring a business- and investment-friendly environment. He said Bangladesh is currently going through a crucial phase of economic transformation, creating new opportunities. The Adviser said, closer partnership with US businesses and investors can make a significant contribution to Bangladesh’s economic growth, job creation, and technology and knowledge exchange. Atul Keshap expressed interest in Bangladesh’s economic potential and investment opportunities, said the Ministry of Foreign Affairs. He emphasised the need to further expand cooperation between the private sectors of Bangladesh and the United States and expressed the council’s interest in taking the business relationship between the two countries to new heights. They exchanged views on increasing trade and investment, cooperation in the industrial and infrastructure sectors, and opportunities for US investment in energy, technology, the digital economy, healthcare and other promising sectors. The business delegation from the United States is currently visiting Bangladesh to explore opportunities in a number of sectors including energy and technology.  

Finance and Planning Minister Amir Khosru Mahmud Chowdhury has said Bangladesh is looking forward to deeper engagement from American investors and institutions including the US International Development Finance Corporation (DFC), particularly in infrastructure, energy, digital connectivity, logistics and services sectors. He said Bangladesh welcomed increased American investment and stronger supply chain cooperation between the two countries. “We envision deeper cooperation between our universities, researchers, entrepreneurs and diaspora communities living across different states of the United States,” he said while speaking as the chief guest at the US National Day reception held at United Convention Center in Dhaka on Wednesday evening. US Ambassador to Bangladesh Brent T. Christensen hosted the reception where ministers, senior political leaders, diplomats stationed in Dhaka, business leaders, senior journalists and civil society members, among others, were present. The theme at the celebration was - Revolutionary America, an homage to the brave men and women who fought against English colonial rule and won, leading to democratic governance based on liberty, self-determination, and the rights of individuals. To mark America's 250th anniversary, Ambassador Christensen launched 50 red, white, and blue rickshaws to honor American independence and highlight the strong US-Bangladesh partnership. The Finance Minister said Bangladesh and the United States have built strong bridges through diplomacy, trade and educational exchanges over the years. “Our responsibility now is to deepen that partnership for future generations. I remain confident that the best chapters of Bangladesh-United States relations are still ahead of us,” he added. Investing in Future of Bangladesh Then and now, the US Ambassador said America First does not mean America alone and often, they find things that are mutually beneficial. "This is the nature of diplomacy. For example, the recent deal between Boeing and Biman Airlines. This deal represents American investment in the modernisation of Bangladesh’s civil aviation sector," said the US envoy, noting that Boeing is not just providing planes, but helping Bangladesh develop its pilots, engineers, and systems. Ambassador Christensen said Boeing and Biman are investing in the future of Bangladesh. On the Agreement on Reciprocal Trade, also known as the ART, the envoy said it is a joint investment in both American and Bangladeshi prosperity. "This agreement allows for a modern, balanced trade and investment partnership," Ambassador Christensen said, adding that the ART includes numerous provisions that will benefit most of the people in this room. He said it preserves Bangladesh’s access to the US market with competitive 19 percent tariffs, down from 37 percent without the agreement, while supporting a level playing field where businesses and workers in both our economies can prosper and thrive. "This is really just common sense." Strategic Cooperation Last week, the two countries signed a new memorandum of understanding on strategic cooperation in the field of energy, an agreement that enables millions of dollars in energy projects and enhances Bangladesh’s energy security, industrial development, and fuel diversification.