Bangladesh urges for investment from US firms
Bangladesh also expressed interest in receiving US development finance from the International Development Finance Corporation (DFC) for a wide range of infrastructure opportunities
Bangladesh welcomed investment from US firms in Bangladesh, including in the renewable energy, telecommunications, and agricultural and food processing sectors and to its economic zones.
Salman F Rahman, adviser for Private Industry and Investment to Prime Minister Sheikh Hasina, made the remarks during the Second US-Bangladesh High-Level Economic Consultation in Washington, DC with Jose W Fernandez, US Under Secretary of State for Economic Growth, Energy, and the Environment, on Thursday.
The meeting participants celebrated the strong and growing economic partnership between the United States and Bangladesh, a highlight of our 50 years of bilateral relations, reads a press release from the US Department of State.
The United States highlighted Bangladesh's evident potential to be a regional leader in digital trade and noted with appreciation steps taken by Bangladesh to adopt a transparent regulatory environment to secure broad-based foreign investment in its bourgeoning digital economy sector.
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Both sides decided to coordinate more on implementing existing transparent commercial policies and consistent enforcement of intellectual property rights in Bangladesh.
Bangladesh warmly welcomed a US concept of a US-Bangladesh Women's Council, which would enhance women's employment, entrepreneurship, and access to educational opportunities in support of a more equitable future.
The United States acknowledged the Government of Bangladesh's progress with respect to workers' rights in Bangladesh in, for example, instituting safety reforms in the garment export sector, simplifying trade-union registration, developing a publicly accessible trade-union database, establishing helplines to receive complaints, digitalising labour inspection and strengthening labour courts.
The United States urged Bangladesh to take further steps to adhere to internationally recognised labour rights standards, including those developed by Bangladesh for its International Labour Organization (ILO) road map.
Bangladesh expressed its commitment to swiftly pass necessary reforms and fully implement the four priority areas of the ILO road map, reads the release.
Bangladesh expressed interest in receiving US development finance from the International Development Finance Corporation (DFC) for a wide range of infrastructure opportunities. The United States affirmed it would consider Bangladesh's request while emphasising the need for Bangladesh to implement the ILO road map.
The United States commended Bangladesh on its admirable response to the Covid-19 pandemic. Bangladesh has fully vaccinated over 76% of its population and partially vaccinated over 99% of the eligible population.
Bangladesh expressed gratitude for the over 64 million vaccine doses the United States donated, in partnership with Covax, to support Bangladesh's Covid-19 response efforts.
The United States welcomed Bangladesh's interest in the United States-developed Covid-19 Prioritized Global Action Plan for Enhanced Engagement so that Bangladesh could share best practices with the world on its effective vaccination of its population and Forcibly Displaced Myanmar Nationals (FDMN).
Bangladesh also highlighted that re-starting non-stop flights between New York City and Dhaka is a high priority. Both sides are committed to taking the next steps to move this forward at the earliest, reads the statement.
