Commerce minister calls for increasing US investment in Bangladesh 

Mentioning the US as a major market for Bangladesh's garment exports, Commerce Minister Tipu Munshi has called for increasing US investment in the country.

"The factories in Bangladesh have been made safe and work friendly. The government also amended the Labour Law and made it world class for the sustainable development of the readymade garments sector," the minister said during a meeting with US Ambassador Peter Haas on Thursday.

Bangladesh has 157 certified factories of US Lead Green Garments Factory, Tipu Munshi said, adding that out of the top 10 green factories in the world, nine are in Bangladesh.

He also stated that Bangladesh is now the second largest exporter of readymade garments in the world. 

"Although the production cost of readymade garments in Bangladesh has increased, the buyers have not increased the price in comparison. It is necessary to ensure fair price of readymade garments in Bangladesh," he added.

Tipu Munshi further said as per the prime minister's direction, the work of establishing 100 special economic zones is progressing fast.
 
"US investors will be benefited if they invest in Bangladesh's special economic zone. The government is providing special facilities to the investors," he said.

US Ambassador Peter Haas said the two countries share a long-standing economic and trade relation.

Mentioning US as a development partner of Bangladesh, the US envoy hoped that economic and trade relations between the two countries will be further enhanced in the days to come. 

Tipu Munshi said, "Bangladesh is trying to sign trade agreements like PTA or FTA to facilitate trade with different countries. In this way, even if Bangladesh loses tariff temporarily, Bangladesh will benefit in the long run."

Additional Secretary of the Ministry of Commerce (Exports) Md  Hafizur Rahman, Additional Secretary (FTA) Nur Md Mahbubul Haque, Additional Secretary (Export-2) Md Abdur Rahim Khan were also present.