Chief Adviser's Press Secretary Shafiqul Alam on Saturday termed the recent outcome of tariff negotiations with the United States, securing a 20% tariff, as one of the interim government's major achievements.
"This negotiation was the government's biggest foreign policy-related challenge, but with the right preparation and confidence, Bangladesh has achieved the desired outcome," he said.
The press secretary said this at a roundtable discussion titled "Bangladesh and Trump Tariffs: Economic Diplomacy in a World after Trade Regime" held in the capital.
Bangladesh Research Analysis and Information Network (BRAIN) organised the event while Dhaka University Professor Rashed Al Titumir and economists Jyoti Rahman and Zia Hasan spoke, among others.
Shafiqul Alam said, "Many claimed that the interim government is weak, inexperienced, and incapable of securing a good deal with the US. But we have proven that with proper preparation and self-confidence, even an interim government can achieve a major success."
He explained that from the outset, the government was aware of its interim nature and, therefore, it focused on areas where realistic and immediate results could be gained.
"We were confident from the very beginning that a good agreement with the United States was possible," the press secretary added.
Shafiqul Alam pointed out that Bangladesh faced tough challenges both on the Rohingya issue and the US tariff policies.
"Though the media of a neighbouring country widely circulated misleading information soon after the interim government assumed office, Bangladesh managed to counter this through accurate diplomatic preparations," he said.
The press secretary said visiting the US, National Security Adviser Khalilur Rahman initially could understand that the Trump administration was diverging from global consensus and adopting a unilateral tariff policy.
After that visit, Bangladesh took necessary preparations, he said, adding that three main strengths drove the negotiations- Chief Adviser Muhammad Yunus' personal connections and credibility to the US, Khalilur Rahman's long-standing experience, and Commerce Adviser Sk Bashir Uddin's clear insights into global markets.
Shafiqul Alam said that Bangladesh's main advantage is its position as a major consumer and importer in the global market.
"Cotton, oil, poultry feed, or edible oil- Bangladesh is now a significant player in almost every sector. This reality was used as leverage in the negotiations," he explained.
The press secretary said along with the US, Bangladesh's exports to markets in Japan, South Korea, Brazil, South Africa, and the Middle East are also increasing rapidly.
Thus, while success was achieved in talks with the US, he added, the government is simultaneously keeping an eye on diversifying markets.
Noting that making Chattogram Port more efficient and reforming the logistics system are the prerequisites to increase foreign investment, Shafiqul Alam said, "If Chattogram Port can be made as efficient as Singapore's, foreign investment cannot be stopped."
He said that the steps taken by the interim government so far have helped bring inflation under control to some extent, increase foreign exchange reserves and return stability to the economy.
"We may not have achieved 8% growth, but achieving 4% growth in this post-uprising period is not insignificant," the press secretary further said.
Expressing optimism, Shafiqul Alam said the success of the tariff negotiations has placed Bangladesh's economy on a new platform for prosperity, and trade ties with the US will deepen further in the future.
"We want more access to the vast US market. Like Japan, South Korea, Taiwan, or Vietnam, we, too, believe that by expanding exports to the US, Bangladesh will advance towards a new path of prosperity," he added.
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