Chief Adviser Muhammad Yunus noted that Bangladesh is prepared to scale up imports from the United States during a meeting with Assistant United States Trade Representative (AUSTR) Brendan Lynch, at the Chief Adviser's Office in Tejgaon, Dhaka.
The meeting saw both sides discuss strategies to reduce the trade imbalance between the two countries, as well as Bangladesh's intention to expand imports of US agricultural products such as cotton and soybeans, according to a press release from the chief advisor's press wing.
Yunus also expressed hope that this would pave the way for further tariff reductions.
"Thank you very much for the support. We are very happy about what has happened. This is key to our economy," Yunus said, referring to the USTR's recent decision — announced on 31 July — to lower the reciprocal tariff rate on Bangladeshi exports to the US from 35% to 20%, a move he described as a significant milestone in bilateral trade relations.
Meanwhile, AUSTR Brendan Lynch commended the constructive approach taken by Bangladeshi delegates throughout the trade dialogue.
He cited that Bangladesh began the process back in February when the National Security Adviser met with him and offered to unilaterally reduce the trade gap with the US.
He noted that this early start had a positive impact on smooth negotiations and the outcome of the process.
"You dispatched a tough negotiating team who worked very hard and effectively", Lynch said to the chief advisor, emphasising the importance of the timely implementation of the tariff agreements and the purchase commitments.
Discussions also addressed expanding energy cooperation, including LPG imports from the US, civil aircraft purchases, drug control measures and the ongoing Rohingya humanitarian crisis.
Citing the early signing of the draft bilateral trade agreement currently under negotiation, Yunus emphasised continued progress in bilateral engagement.
"Our interests are closer to those of the United States. That makes this process easier and more promising," he said.
The chief adviser also highlighted Bangladesh's actions in regard to the 11-point Labour Action Plan proposed by the US, underscoring the government's dedication to upholding international labour standards and fair practices.
Looking ahead, Yunus said the Interim Government of Bangladesh expects increased flows of investment and concessional credit in key sectors such as health and education.
"We must make sure the door to US investment in Bangladesh becomes wider," he said, reassuring the visiting USTR team that the Interim Government would improve the climate for foreign direct investment in the country.
Also present at the meeting were Commerce Adviser Sheikh Bashir Uddin, National Security Adviser Khalilur Rahman, USTR Director for South Asia Emily Ashby, Senior Secretary for SDG Affairs Lamiya Murshed, Commerce Secretary Mahbubur Rahman, and US Chargé d'Affaires Tracey Ann Jacobson.
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