United News of Bangladesh

Foreign Minister Dr Khalilur Rahman on Wednesday rejected claims that the reciprocal trade agreement between Bangladesh and the US was signed abruptly just days before the recently held national election. He said the matter had been discussed in advance with the leadership of the country’s two major political parties - BNP and Jamaat-e-Islami- and both of which had agreed to the deal prior to its signing. "The US Trade Representative spoke to the heads of our two key parties before the elections and they also agreed to it. So it's not like we did this in the dark,” Dr Khalilur said in response to a question on whether there had been any pressure to expedite the signing of the deal ahead of the recently held national election. The Foreign Minister said there are entry and exit clauses and the government can review it if it desires so.  US Assistant Secretary of State for South and Central Asian Affairs Paul Kapur, who met the Foreign Minister at the Ministry of Foreign Affairs, underscored the importance of implementing the provisions of the agreement on ‘reciprocal trade’ to foster greater bilateral trade and investment. The Foreign Minister reiterated the government’s commitment to policy continuity, particularly in the economic domain. Assistant Secretary Kapur, in the meeting, discussed key US priorities in Bangladesh, expanding market access for American businesses, strengthening cooperation on illegal immigration, and deepening collaboration on regional security and counterterrorism. The deal says Bangladesh shall endeavor to increase purchases of US military equipment and limit military equipment purchases from certain countries; and shall endeavor to facilitate the increase of purchases by its national flag carrier (Biman Bangladesh Airline) of U.S. civilian aircraft, parts, and services. Bangladesh will submit a full and complete notification to the WTO of all subsidies that it provides, as required under Article 25.1 of the WTO Agreement on Subsidies and Countervailing Measures within six months of entry into force of this agreement. Biman Bangladesh Airline intends to purchase 14 Boeing aircraft, plus a purchase option of additional aircraft. The deal also says Bangladesh shall endeavor to purchase, or to facilitate the purchase by Bangladeshi companies, of U.S. energy, including long-term offtake agreements for U.S. liquefied natural gas, with an estimated value of $15 billion over 15 years. Khalilur, who played a leading role on Bangladesh's side in negotiations with the US before the agreement, said the deal was not concluded just three days before the elections but a year ago, in February 2025. The Centre for Policy Dialogue (CPD) recently said the reciprocal trade agreement between the US and Bangladesh is “highly discriminatory” and must be revoked. “We are stunned and bewildered….I do not know how a government could enter into such an agreement,” said CPD Research Director Khondaker Golam Moazzem at a media briefing on the social and economic policies of the new government for the first 180 days and beyond.

China's imports of soybeans surged in November following the announcement of an interim trade deal with the United States.