The United States has said it looks forward to working with Bangladesh to "enhance economic investment" over the next 50 years and beyond. The visiting US delegation met Salman F Rahman, Private Industry and Investment Adviser to PM Sheikh Hasina, to hear how government and private companies are collaborating. Eileen Laubacher, Special Assistant to the President and Senior Director for South Asia, US National Security Council (NSC); Michael Schiffer, USAID Assistant Administrator, Bureau for Asia; and Afreen Akhter, US Department of State Deputy Assistant Secretary for South and Central Asia, are on a three-day visit to Bangladesh. For over 50 years, the US has partnered with the government and the people of Bangladesh, providing over $8 billion to tackle issues like public health, education, energy, environment, food security, natural disasters, and more. Read: Want to create a new chapter in our relations: Foreign Minister says after meeting with US delegation The United States is one of the largest investors in Bangladesh and its largest single country export market, said the US Embassy in Dhaka. "Our leadership from Washington D.C. joined local economic experts to discuss a range of issues impacting the bilateral trade relationship," said the US Embassy. The United States "stands ready" to help Bangladesh create a business climate that attracts more investment from the US. The delegation discussed ways to improve the business environment, making investment in Bangladesh more attractive to American companies. Read: Bangladesh-US relations will be stronger based on environment, climate actions: Environment Minister The three officials, according to the US side, are visiting Bangladesh to discuss with the government of Bangladesh ways to "strengthen diplomatic ties, address challenges, and promote a shared vision for the advancement of mutual interests in the Indo-Pacific region." They also met Foreign Minister Dr Hasan Mahmud, Foreign Secretary Masud Bin Momen, civil society representatives, labour leaders, youth activists and those engaged in developing a free and uncensored media. "We discussed with the Foreign Minister how our two countries can work on mutual interests, including economic development, security, refugees, climate, labor, and trade," said the US Embassy in a separate message after the meeting. Bangladesh is an important partner in the Indo-Pacific region, it said. Read more: US Deputy Assistant Secretary meets Bangladeshi civil society members including Zillur and Adilur

Commerce Minister Tipu Munshi on Thursday urged the United States to invest more in Bangladesh while the country could import more from the South Asian nation. Munshi said Bangladesh has a strong trade relation with the US and there is scope to expand the bilateral bonding to a greater extent. Munshi made the remarks in a bilateral meeting with a US team led by Arun Venkataraman, Assistant Secretary of Commerce for Global Markets and Director-general of the US Foreign Commercial Service, at the Pan-pacific Sonargaon Hotel. He said that American investors could benefit enormously by investing at special economic zones Bangladesh is readying. Prime Minister Sheikh Hasina has asked the authorities to set up 100 special economic zones across the country to woo foreign investment. The commerce minister said Bangladesh is giving special incentives to the foreign investors. “Bangladesh gives special importance to the US investment. Safety has been ensured for the investors. Bangladesh is emphasising on the skill development in digital commerce,” he said. Read: Time to invest in Bangladesh, Tipu Munshi tells Nordic countries While the US is a major market of Bangladeshi garment products the country can be a good destination of Bangladeshi furniture and pharmaceutical products, he said. Bangladesh needs support from the US in other sectors such as agro-food processing, technology and ICT, the minister said. Arun Venkataraman said Bangladesh is a vital trade partner of the US. He appreciated Bangladesh’s development, saying that the US will continue to strengthen its relations with the country in the fields of investment, trade and technology.

President Abdul Hamid on Tuesday urged newly appointed US Ambassador to Bangladesh Peter D Haas to encourage his country’s entrepreneurs  to investment in various sectors in Bangladesh. He made the request when Peter D Haas presented his credentials to the President in the afternoon. Read: President asks Information Commission to be more active for implementing RTI Act Press Secretary Joynal Abedin briefed reporters after the meeting. Welcoming the new ambassador, President Hamid said that Bangladesh's relation with the United States is very good and the diplomatic relations as well as trade and investment have expanded in various fields. The President hoped that the United States would continue to put pressure on Myanmar to send back Rohingya to their homeland with dignity. The President thanked the Government and the people of the United States for providing assistance to Bangladesh, including vaccine, in the fight against Covid -19. During the meeting, the new US Ambassador sought the full cooperation of the President in discharging his duties. Later, newly appointed High Commissioner of Bangladesh to Maldives Rear Admiral SM Abul Kalam Azad called on President Abdul Hamid at Bangabhaban. Read: President urges transparency and accountability in government spending During the meeting, the new High Commissioner sought the guidance and cooperation of the President in discharging his duties. Secretary to the President's Office Sampad Barua, Military Secretary Major General SM Salah Uddin Islam, Press Secretary Joynal Abedin  were present on the occasion.

State Minister for Foreign Affairs M Shahriar Alam has invited US investment in Bangladesh and requested the USA authorities for providing duty-free market access to Bangladesh products. The State Minister participated in a meeting with Wendy Sherman, Deputy Secretary of State of the USA on Wednesday and discussed the issues of mutual interest. State Minister Alam called upon the international community, including the USA, to take urgent steps for ensuring safe, dignified and sustainable return of the Rohingyas to their homeland. On bilateral issue, he raised the issue of deportation of Rashed Chowdhury, the self-confessed killer of Bangabandhu now living in the USA. Recalling the earlier visit of Wendy Sherman to Bangladesh as the Assistant Secretary of State, State Minister Alam invited her to visit Bangladesh again in her new capacity.

Prime Minister Sheikh Hasina has sought US investment in various potential sectors apart from the existing energy, banking and insurance sectors as Bangladesh is developing its infrastructure and power supply systems to facilitate FDI. “The US is, of course, the largest investor in Bangladesh with stakes in energy, banking and insurance sectors. We invite US investment in other lucrative sectors like ICT, renewable energy, shipbuilding, automobile, light engineering, agro-processing, blue economy, tourism, knowledge based hi-tech industries,” she said. Hasina made the call while delivering her speech at the Executive Business Roundtable of US-Bangladesh Business Council at Lotte Palace here on Tuesday. US-Bangladesh Business Council president Nisha Biswal presided over the event. Hasina said Bangladesh is investing heavily on infrastructure development and power supply to facilitate FDI in those areas and other promising sectors in Bangladesh. The Prime Minister said Bangladesh is ready to start Free Trade Agreement (FTA) negotiations with the US at an appropriate time. Read: Act quickly to stop rollback of women’s progress: Hasina As per the ADB Outlook 2019, she said, Bangladesh is the fastest growing economy in the Asia-Pacific region due to strong leadership, good governance, stable government, political stability, sound macroeconomic policy and right development priorities. “Rapid urbanization, increasing consumption of electricity, rapid growth of the middle class, growing connectivity with a massive regional market make Bangladesh an attractive investment destination,” Hasina said. She said Bangladesh is ready to offer from its 100 Economic Zones, one exclusively for American companies, and also invites US investment in its 28 High-Tech Parks. “We’re constantly improving our physical, legal and financial infrastructures, and also connectivity as with Padma Bridge and Dhaka Metro-Rail.” Hasina mentioned that Bangladesh has the most liberal investment policy in South Asia and that foreign investment is protected by acts of parliament and bilateral treaties. “Bangladesh recognizes US’s energy sector cooperation and investment, which has contributed towards building our power generation capacity, now over 25,000 Megawatt.” She also said Bangladesh is looking forward to US investment in renewable energy. “Our ICT sector is growing fast now with a billion-dollar export to 60 countries, with the US being the top destination. The ICT industry is expected to grow nearly five fold to reach the five-billion-dollar mark with more than 600,000 free-lance IT professionals, Bangladesh is the right place to invest in the ICT sector.” Talking about the demographic dividend and government’s focus on developing skilled manpower, she said, it ensures that investors here get skilled human resources at competitive wages. Read: Hasina seeks SDGs roadmap for countries falling behind The Prime Minister also stressed the importance of mutual cooperation and collective efforts to attain shared prosperity in the post-Covid economic recovery. “I assure Bangladesh government’s whole hearted support to expand economic partnership between our two nations. We also expect that the Business Council would convince the US government to undertake favourable economic and trade policies for Bangladesh.” Regarding the Bangladesh-US friendship is based on common values and shared interests, Hasina said, “It’s reflected in our expanding overall business relations. Our trade relations can be further strengthened with duty free access and other trade privileges in the US market. Bangladesh is ready to commence FTA negotiations with the US at an appropriate time.” Since Bangladesh will graduate from LDC status in 2026 to enhance its global competitiveness and expansion of its export base, it will appreciate US support, Hasina said. Meanwhile, she said, the US-Bangladesh Business Council may continue to play a catalytic role in raising the present annual bilateral trade of US$ 9 billion to higher figures. High-level representatives from US leading business companies, including Boeing, Coca-Cola, Exxon Mobil, Chevron and Mastercard were present at the roundtable. From Bangladesh side, PM’s ICT Affairs adviser Sajeeb Ahmed Wazed Joy, FBCCI President Jashim Uddin, MCCI president Nihad Kabir and BGMEA president Faruque Hassan, attended the programme. Read: Hasina seeks stronger steps to address ‘planetary emergency’ The event was presided over by Jay R. Pryor, Vice President of Business Development at Chevron and the Council’s Chair of Board of Directors, and Nisha Biswal, President, U.S.-Bangladesh Business Council and Senior Vice President - South Asia, International Strategy and Global Initiatives at the U.S. Chamber of Commerce.    The roundtable, which coincides with Bangladesh’s 50th anniversary of independence and the inaugural engagement with Prime Minister Hasina of the recently launched Council – also featured the launch of the U.S.-Bangladesh Energy Taskforce, co-chaired by Excelerate Energy and General Electric (GE), which will provide recommendations to both governments on the role the private sector can play to strengthen bilateral energy cooperation and development, according to US-Bangladesh Business Council.  The virtual roundtable –  supported by Chevron, Excelerate Energy, General Electric, MetLife and Visa – convened high-level Bangladesh government officials as well as major U.S. and Bangladeshi companies across sectors like energy, financial services, manufacturing, food and beverage, aerospace and defense, agriculture, healthcare, water, and supply chain as well as major Bangladeshi business associations.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is exploring avenues of attracting investment from US businessmen and non-resident Bangladeshis in textile industries. BGMEA has sought support from the Bangladesh mission in Washington in this regard. Read: BGMEA President calls for fair prices from US buyers BGMEA President Faruque Hassan and Vice President Miran Ali met with Bangladesh Ambassador to the USA M Shahidul Islam in Washington D.C recently and discussed the issues.  During the meeting, Faruwue sought support and cooperation of the Embassy in promoting bilateral trade between Bangladesh and the USA, including increasing apparel exports to the US market, said the BGMEA on Tuesday.  Read:BGMEA urges AAFA to promote Bangladesh’s business interests in US market He expressed thanks to Ambassador Shahidul Islam for his support and endeavor in ensuring a positive bilateral trade relation of Bangladesh with the USA. The BGMEA leaders paid tributes to Father of the Nation, Bangabandhu Sheikh Mujibur Rahman in front of his memorial at the Embassy.

Prime Minister's Adviser for Power, Energy and Mineral Resources Dr Tawfiq-E-Elahi Chowdhury has encouraged the US companies, including ExxonMobil, to invest in oil and gas explorations in Bangladesh, particularly the offshore ones. He held a meeting with the senior officials of ExxonMobil, one of the world's largest publicly traded international oil and gas companies, Friday at the Bangladesh Embassy in Washington DC and welcomed their contributions to Bangladesh's energy sector, highlighting the crucial role of the US companies in this area. Also, the adviser focused on the need for investment in building storage facilities for renewable energy in Bangladesh. Having a balanced mix of energy sources is critical for Bangladesh and its development, he said. Read: Bangladesh seeks US investment for regional power distribution Dr Tawfiq acknowledged that the companies like ExxonMobil, which are looking for liquefied natural gas (LNG) businesses in Bangladesh, require guarantying hedges against the price volatilities. He asked ExxonMobil to expedite deep-sea exploration and to invest in upgrading transmission networks and land-based facilities. ExxonMobil expressed a keen interest in working with Bangladesh to support the country's current pace of development and ensure access to energy. Read: US investors: Bangladesh showcases its capital market potential Bangladesh Ambassador to the USA M Shahidul Islam and senior officials from Bangladesh Embassy and ExxonMobil were present at the meeting. Later, a memorandum of understanding (MoU) was signed between Summit Oil and Shipping Co. Ltd and Commonwealth LNG at the Bangladesh Embassy in Washington DC in the presence of Dr Tawfiq. The adviser welcomed the signing of the MoU as an important step towards further expanding the existing energy cooperation between Bangladesh and the US.

Bangladesh wants to partner with the US private sector in the research and development of uninterrupted and affordable renewable energy sources.  Speaking at an ‘Energy Roundtable’ organized by the US-Bangladesh Business Council (USBBC) in Washington, DC on Thursday, PM’s Adviser for Power, Energy and Mineral Resources Dr Tawfiq-E-Elahi Chowdhury urged the US companies to explore the prospects of nuclear power modular reactors in Bangladesh.  He mentioned that Bangladesh has been working closely with its neighbours --India, Nepal, and Bhutan -- on regional power distribution, and the US companies may explore opportunities for investment there.   Also read: US for upholding labour rights with economic progress in Bangladesh Chowdhury termed the private sector the main driving force in the Bangladesh-US relations on energy and power.