CA seeks deeper trade ties with US

Bangladesh’s Chief Adviser Professor Muhammad Yunus on Monday reaffirmed Dhaka’s strong commitment to deepening ties with the United States, with a focus on trade, investment, energy cooperation, and development partnerships. He conveyed the message during a meeting with Assistant United States Trade Representative (AUSTR) Brendan Lynch at the Chief Adviser’s Office in Tejgaon, Dhaka.

Professor Yunus welcomed the United States Trade Representative’s decision, announced on July 31, to reduce the reciprocal tariff on Bangladeshi exports to the US from 35 percent to 20 percent. He described the move as a milestone for bilateral commerce and a boost for Bangladesh’s economy.

Both sides discussed practical steps to narrow the existing trade imbalance. Bangladesh indicated readiness to increase imports of US agricultural products, including cotton and soybeans, as part of a broader effort to build a more balanced and resilient trade relationship.

The talks also covered expanded energy cooperation—particularly the import of LPG from the United States—alongside potential purchases of civil aircraft. In addition, the two sides exchanged views on cooperation in drug control efforts and discussed the ongoing Rohingya humanitarian crisis.

Professor Yunus noted that Bangladesh is prepared to scale up purchases from the United States, expressing hope that higher import volumes will help pave the way for further tariff reductions and deepen commercial ties on a sustainable and mutually beneficial basis.

Looking to formalize progress, he voiced optimism about the early signing of a draft bilateral trade agreement currently under negotiation, emphasizing that the two countries’ interests are closely aligned and that this alignment is facilitating steady progress.

He also highlighted Bangladesh’s ongoing actions under the 11-point Labour Action Plan proposed by the United States, underscoring the government’s commitment to international labor standards and fair practices across industries.

Turning to future priorities, Professor Yunus said the interim government expects increased investment flows and concessional financing in essential sectors such as health and education. He stressed the importance of widening the door for US investment and reiterated the government’s intention to strengthen the overall climate for foreign direct investment.

AUSTR Brendan Lynch commended Bangladesh’s constructive approach throughout the trade dialogue and welcomed the growing partnership. He noted that the process gained momentum after initial discussions in February, when Bangladesh’s National Security Adviser signaled a willingness to unilaterally reduce the bilateral trade gap—an early step that helped smooth negotiations and contributed to the successful outcome.

Lynch praised the effectiveness of the Bangladeshi negotiating team and underscored the importance of timely implementation of the agreed tariff changes and associated purchase commitments to translate the agreements into tangible results.

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 Charge d’Affaires Tracey Ann Jacobson.