foreign-affairs
US tariff: Bangladesh must keep focus on domestic economic reforms, says Lutfey
Chief Adviser’s Special Envoy on International Affairs Lutfey Siddiqi has credited exemplary teamwork and hard work for the achievement on trade front, noting that Bangladesh is now no worse off than any of its competitors as far as the US tariffs are concerned.
"Exemplary teamwork and sheer hard work by so many over several months, working ‘round the clock across time zones. What started as 37% is now down to 19% with additional benefits for selected items," he said, soon after the agreement on reciprocal tariff signed between Bangladesh and the United States.
However, the Special Envoy said they must keep focus and follow through on domestic economic reforms - crucially around ports and logistics, digitalisation of government services, banking sector governance, skills and education.
"As the rest of the world accelerate their reforms, failure to improve our performance on these factors will have a much more adverse impact on our competitiveness than tariffs," Siddiqi said.The agreement on reciprocal tariff between Bangladesh and the United States was signed on Monday.
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On the Bangladesh side, the signatories were Commerce Adviser Sheikh Bashir Uddin and National Security Adviser Khalilur Rahman, and on US side Ambassador Jamieson Greer, US Trade Representative.
Negotiations on the agreement spanned over nine months since April last year, said the Chief Adviser’s press wing.
Ambassador Greer lauded Chief Adviser Prof Muhammad Yunus for his overarching leadership of the negotiations process and praised the Bangladesh negotiating team for its "incredible efforts." "This agreement will fit Bangladesh on US trade policy", he said.
After the signing, Commerce Adviser Sheikh Bashir Uddin, who led the Bangladesh side in negotiations, said that the agreement marked a historically new level in our bilateral economic and trade relations.
"It will provide substantially enhanced access of Bangladesh and the US to each other's respective markets", he said.
The US will further reduce reciprocal tariff to 19%, which was originally set at 37% and later reduced to 20% in August last year.
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In addition, the US committed to establishing a mechanism for certain textile and apparel goods from Bangladesh using US produced cotton and man-made fiber to receive zero reciprocal tariff in US market.
"The reduction of reciprocal tariff will grant further advantage to our exporters, while zero reciprocal tariff on specific textile and apparel exports from Bangladesh using US inputs will give substantial added impetus to our garments sector," said NSA Rahman who was Bangladesh's chief negotiator.
The agreement was approved by the Council of Advisers on Monday and will be operational once notifications are issued by the two sides.
Commerce Secretary of Bangladesh Mahbubur Rahman and Assistant US trade Representative Brendan Lynch were present at the signing ceremony.
3 months ago
Iranian Cultural Centre organizes discussion on Iran’s Islamic Revolution
On the occasion of 47th anniversary of the victory of the Islamic Revolution in Iran (National Day), the Cultural Centre of the Embassy of Iran in Dhaka on Monday hosted a discussion, highlighting the Islamic revolution of Iran and the revival of Islam in the contemporary era.
Israfil Amiri, First Counselor, Embassy of the Islamic Republic of Iran in Bangladesh, spoke on the occasion.
Prof Dr Mohammad Siddiqur Rahman Khan, Dean, Faculty of Arts, University of Dhaka was present as special guest at the event held at Kabi Sufia Kamal Auditorium of Bangladesh National Museum.
Maolana Dr Nazrul Islam Al Maruf, Principal, Mohakhali Darul Ulum Hossainia Kamil Madrasa, Dhaka and Hujjatul Islam wal Muslimeen Syed Ibrahim Khalil Razavi, Principal, Islamic Education Centre, Khulna were present as guests of honor.
Seyed Reza Mirmohammadi, Cultural Counsellor, Embassy of Iran, presided over the programme.
3 months ago
Russian Embassy hosts reception marking Diplomat’s Day
The Embassy of Russia in Dhaka hosted a reception on Monday on the occasion of the Diplomat’s Day celebrated on February 10.
In his speech, Russian Ambassador to Bangladesh Alexander Khozin explained the origins of this professional holiday, which dates back to the earliest mention of the first public foreign policy institution in Russia, known as the Ambassadorial Department, in 1549.
The head of the Russian diplomatic mission also emphasised the importance of preserving historical heritage, and underlined that Russia finds inspiration in the history of our cordial relations with friendly nations, such as Bangladesh.
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The reception was marked by the participation of foreign diplomats posted in Dhaka, officials of the Ministry of Foreign Affairs of Bangladesh, and other representatives of Bangladeshi authorities.
The guests of the Embassy could get a closer look at the history and contemporary realities of Russian diplomacy through the lenses of an exhibition, highlighting the most interesting facts of the country’s Foreign Service.
3 months ago
Dhaka eyes stronger economic, technological cooperation with Tokyo
Chief Adviser Prof Muhammad Yunus on Monday congratulated Japanese Prime Minister Sanae Takaichi on the historic and landslide victory of Liberal Democratic Party (LDP), noting that the Bangladesh government looks forward to working closely with her administration to strengthen Dhaka-Tokyo partnership further.
“The government of Bangladesh looks forward to working closely with your administration to further strengthen our partnership, deepen economic and technological cooperation, and advance our shared priorities for mutual benefit,” he said in a message to Takaichi.
Takaichi’s governing party secured a two-thirds supermajority in parliamentary elections.
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The landslide victory was due, in large part, to the extraordinary popularity of Japan’s first female prime minister, and allowed her to pursue a significant conservative shift in Japan’s security, immigration and other policies.
“On behalf of the government and the people of Bangladesh, and on my own behalf, I extend my warmest congratulations on the historic and landslide victory of Liberal Democratic Party (LDP) under your leadership in the election to the House of Representatives held on 8 February 2026,” Prof Yunus said.
He said this decisive mandate reflects the strong confidence and trust placed in her leadership and vision by the people of Japan.
“I am confident that, under your continued stewardship, Japan will further advance stability, prosperity, and constructive engagement both regionally and globally,” Prof Yunus said.
He said Bangladesh attaches highest importance to its long-standing and trusted partnership with Japan.
“We remain deeply appreciative of Japan's consistent support for Bangladesh's development, including our cooperation in quality infrastructure and connectivity, which has made a lasting contribution to our people and economy,” said the Chief Adviser.
Prof Yunus conveyed her best wishes for her good health and success, and for the continued peace, progress, and well-being of the people of Japan.
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3 months ago
Youth participation vital to Bangladesh’s democratic future: Commonwealth Observer Group Chief
Commonwealth Observer Group Chairperson Nana Akufo-Addo has underscored the importance of youth participation, noting that Bangladesh has a predominantly youthful population, with a significant proportion of citizens under the age of 35.
“Their engagement in the electoral process is vital to the country’s democratic future and will serve as an inspiration to young people across the Commonwealth who stand in solidarity” he said on Sunday.
The Commonwealth Observer Group to Bangladesh has commenced its observation of pre-poll arrangements and preparations for the forthcoming national election and referendum, reaffirming the Commonwealth’s solidarity with the people of Bangladesh at this important moment in the country’s democratic journey.
The Group arrived in Bangladesh on February 4 and will remain in the country until February 18.
As independent observers, the Group will assess the pre-election environment, polling day, and the post-election period.
Members will deploy to selected divisions on February 10 to observe the opening of polls, voting, closing, counting, and the management of results.
Nana Akufo-Addo said he was honoured to have been invited by the Commonwealth Secretary-General Shirley Botchwey, to serve as Chairperson of the Commonwealth Observer Group for the elections and referendum.
Releasing his arrival statement in Dhaka, he noted that the elections are taking place at a significant time, following a period of political contestation, public debate on governance and institutional reform, and the continued aspirations of citizens for transparent, inclusive, and credible democratic processes.
“Democracy remains one of the most important pillars of the Commonwealth, enshrined in its Charter, a fundamental global value rooted in the principle that people have the right to freely express their will and determine their own political, economic, social, and cultural systems," he said.
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"I enjoin all stakeholders to uphold these important values for the benefit and prosperity of the people of Bangladesh.”
Since the Group’s arrival, members have met with representatives of the media, civil society, youth and women’s groups, political parties, and other stakeholders.
The team will continue its engagements, including meetings with the Bangladesh Electoral Commission, ahead of election day.
The Commonwealth Observer Group comprises the Chairperson and 12 other eminent persons drawn from Asia, Africa, the Caribbean, Europe, and the Pacific. Members bring diverse professional backgrounds, including politics, civil society, election management, diplomacy, and law.
The Group will issue its interim statement on its preliminary findings on 14 February.
3 months ago
Foreign Affairs Adviser seeks more investment from Muslim world in education and science
Foreign Affairs Adviser Md Touhid Hossain on Sunday sought more investment in the areas of education, science and technology.
Adviser Hossain was speaking at the signing ceremony of a Memorandum of Understanding between the Islamic University of Technology (IUT) and SEACO Universities Network (SUN) held at the State Guest House, Padma.
"One of the shortcomings of the Muslim World is its backwardness in the areas of education, science and technology, despite possessing immense human potential and a rich intellectual heritage. It must invest more to transform its education system and bring meaningful change in the lives of the people," he said.
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3 months ago
US Ambassador meets Adviser Hossain, discusses bilateral relations
US Ambassador to Bangladesh Brent T Christensen met Foreign Affairs Adviser Md Touhid Hossain on Sunday and discussed issues of bilateral relations.
Ambassador Christensen described the meeting with Adviser Hossain as ‘excellent and productive’.
"Excellent meeting with the Adviser for Foreign Affairs Md. Touhid Hossain...we had a productive discussion on key elements of our bilateral relationship," said Ambassador Christensen after the meeting.
Bangladesh and the United States are likely to sign a trade agreement on Monday.
Dhaka eyes a reducing reciprocal tariff.
Bangladesh has achieved an 'important step forward' towards strengthening its mutually beneficial trade relationship with the United States, opening the door to greater market access and new opportunities for its vital textile and apparel sector, said the Chief Adviser’s press wing last month.
In response to a request from National Security Adviser Dr Khalilur Rahman who recently visited Washington DC, US Trade Representative Ambassador Jamieson Greer has agreed to raise with US President Donald Trump the possibility of reducing Bangladesh’s current 20% reciprocal tariff rate, bringing it more in line with regional competitors.
3 months ago
Bangladesh–Ireland Chamber of Commerce and Industries holds first meeting
The Bangladesh–Ireland Chamber of Commerce and Industries held its first meeting on Saturday, marking the formal launch of the chamber’s activities in Bangladesh.
The meeting was hosted by Masud Jamil Khan, Deputy Managing Director (DMD) of Cosmos Group and Honorary Consul of Ireland in Bangladesh.
Around 20 business representatives from different sectors in Bangladesh attended the meeting. The participants included entrepreneurs and professionals from the IT, education, garments and pharmaceutical sectors etc.
3 months ago
EuroCham wants immediate resumption of Ctg Port operations
The European Union Chamber of Commerce in Bangladesh (EuroCham Bangladesh) on Saturday reiterated grave concern over ongoing disruptions at Chattogram Port, which are inflicting mounting economic losses, jeopardising export performance and undermining confidence in Bangladesh’s supply chain reliability.
EuroCham Bangladesh stressed that predictable, uninterrupted and efficient port operations are essential for safeguarding export performance, protecting millions of jobs indirectly supported by overseas demand, and maintaining Bangladesh’s reputation as a reliable sourcing destination for European and global markets.
EU apparel imports from Bangladesh recently exceeded US$9.6bn.
EuroCham Bangladesh urged all relevant stakeholders to take immediate steps to ensure the full resumption of normal port operations.
EuroCham Bangladesh urged resolve ongoing disputes through constructive dialogue in a manner that safeguards national economic interests and advance port modernisation initiatives that enhance efficiency, reliability and long-term competitiveness as well as predictability.
EuroCham Bangladesh said it remains committed to supporting business growth thus strengthening Bangladesh’s trade infrastructure and stands ready to engage constructively with authorities and stakeholders to help ensure a stable, efficient and future-ready port system.
Chattogram Port handles more than 90 per cent of Bangladesh’s international trade and is the primary gateway for the country’s export-oriented industries.
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Under normal conditions, the port moves around 2,000-2,500 export containers daily. Over recent days, however, work stoppages have brought operations almost entirely to a standstill, leaving export goods and container movements in limbo.
EuroCham members and European brands sourcing from Bangladesh are reporting growing concern.
With export schedules collapsing, delivery windows are being missed and additional logistics costs are accruing.
In monetary terms, export goods valued at an estimated US$660m (around Tk 80 billion) are currently stuck in around 13,000 containers at port facilities, private depots and ships unable to berth or depart.
Approximately 13,000 export containers carrying US$660m in goods are currently stuck due to work stoppages.
In 2024–25 the port handled more than 831,000 export container units valued at US$42.3bn.
Textiles and RMG account for around 80 per cent of Bangladesh’s exports, making the country the world’s second-largest garment exporter.
3 months ago
Bangladesh, Japan sign historic EPA
Bangladesh and Japan on Thursday signed a historic Economic Partnership Agreement (EPA), marking a major milestone in their bilateral ties and giving duty free access to 7,379 Bangladeshi products to the Japanese market.
This is the first time Bangladesh has signed an Economic Partnership Agreement with any country.
Commerce Adviser Sk Bashir Uddin and Japan’s State Minister for Foreign Affairs HORII Iwao signed the agreement on behalf of their respective governments at a formal ceremony at Japan’s Ministry of Foreign Affairs in Tokyo.
Commerce Secretary Mahbubur Rahman, Bangladesh Ambassador to Japan Md Daud Ali, Japanese Ambassador to Bangladesh SAIDA Shinichi and senior officials from both countries were present at the event.
The agreement is the result of seven rounds of negotiations held in Dhaka and Tokyo on trade in goods and services, investment and economic cooperation.
Speaking at the ceremony, Commerce Adviser Sheikh Bashir Uddin said the EPA reflects the long standing friendship between Bangladesh and Japan.
He also said the agreement is not just a trade document but a sign of Bangladesh’s strong economic future and deep mutual trust between the two countries.
He expressed hope that proper implementation of the agreement would open a new chapter of shared prosperity.
Under the agreement, Bangladesh will enjoy major benefits in both goods and services trade.
A total of 7,379 Bangladeshi products, including ready made garments, will receive 100 percent duty free access to the Japanese market.
In return, Bangladesh will gradually expand market access for Japan, allowing 1,039 Japanese products to enjoy duty free or preferential treatment.
In the garment sector, the inclusion of single stage transformation will allow Bangladeshi apparel to enter Japan easily without complex conditions related to raw materials.
Alongside this, the agreement will open opportunities for Bangladeshi skilled professionals to work in Japan in about 120 service areas across nearly 16 sectors, including IT, engineering, education, caregiving and nursing.
This is expected to create more employment opportunities for Bangladeshis in Japan.
In return, Bangladesh has agreed to open 98 sub sectors under 12 service categories for Japan.
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Officials expect the agreement to boost bilateral trade as well as Japanese foreign direct investment in manufacturing, infrastructure, energy and logistics.
With advanced Japanese technology and investment, the quality of Bangladeshi products is expected to improve, making the country more competitive globally.
The EPA is also expected to support small and medium enterprises, develop a skilled workforce and contribute to inclusive economic growth and overall socio economic development of Bangladesh.
3 months ago