Bangladesh-US trade, investment prospects still underutilised: Stakeholders
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
MONDAY, MAY 23, 2022
MONDAY, MAY 23, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Bangladesh-US trade, investment prospects still underutilised: Stakeholders

Trade

TBS Report
23 May, 2021, 09:45 pm
Last modified: 23 May, 2021, 09:51 pm

Related News

  • Bangladesh’s ‘deft’ balancing of US, China and India ties stands out, writes South China Morning Post
  • Union Bank holds shariah supervisory committee meeting
  • DSCC mayor wants launch terminal from Lalkuthi-Ruplal House removed 
  • Bangladesh to have its own stall at Cannes next year: Hasan
  • Russia has offered to sell crude oil to Bangladesh: Nasrul

Bangladesh-US trade, investment prospects still underutilised: Stakeholders

Assessment is crucial for identifying where the opportunities lie and what strategic options Bangladesh has to maximise potential with the USA

TBS Report
23 May, 2021, 09:45 pm
Last modified: 23 May, 2021, 09:51 pm
Bangladesh-US trade, investment prospects still underutilised: Stakeholders

The present trade and investment atmosphere between Bangladesh and the United States is yet to reach full potential, and both nations will benefit from a systemic assessment of the available opportunities.

Assessment is crucial for identifying where the opportunities lie, what issues are holding back the potential, how the competitor countries are making headway, and what strategic options Bangladesh has to maximise the potential with US stakeholders.

The American Chamber of Commerce in Bangladesh (AmCham) President Syed Ershad Ahmed made the remarks on Sunday, adding that AmCham will carry out systematic diagnostics to identify opportunities for strengthening Bangladesh's trade and investment ties with the USA.

Participating as session chair at a virtual event titled "US-Bangladesh Economic Relation: Migration to a Developing Nation," Ahmed said, "The bilateral trade between Bangladesh and the USA was only $1 billion, but it exceeded $9 billion in just three decades.

"We are working tirelessly to increase the trade volume further between the two nations. As of today, the USA is the Single largest market for Bangladeshi products in the world, the largest contributor of FDI and the 2nd biggest source of remittance for Bangladeshis since July 2020."

Addressing the event, US Ambassador to Bangladesh Earl R Miller said, "Bangladesh can be a challenging place to do business.  US investors share international concerns over labour rights, workplace safety, corruption, and a lack of transparency in some government transactions.

"I find the Government of Bangladesh increasingly responsive to these concerns.  But we need to see continued improvement to create a welcoming, sustainable, and fair business environment with a level playing field for all."

There were congratulations all around when Bangladesh moved up in the World Bank's annual Ease of Doing Business report, but we all know there is a great opportunity to do better, he added.

Miller then added, "Let us use the commemoration of this extraordinary country's 50th year as a launching pad to a more prosperous future and even stronger economic partnership for both our great nations.

"As pilots say about clear open skies, the future of the US-Bangladesh economic partnership has a ceiling and visibility unlimited."

Managing Director at Coca-Cola Bangladesh Tapas Kumar Mondal said, "Tax policy has to be amended here, which will promote further foreign investment in Bangladesh, including the USA."

Meanwhile, Abdul Monem Economic Zone's Director A Gafur said, "We lag far behind in bilateral trade with the USA than many other developing countries such as Vietnam, Cambodia and Malaysia.

"Very poor infrastructure, corruption, dependence on RMG and unfriendly business environment are the barriers against more US trade and investment in Bangladesh."

Bangladesh Export Processing Zones Authority's (BEPZA) Executive Chairman Md Nazrul Islam said he expects bigger investments from the USA as a new economic zone is coming.

JoAnne Wagner, deputy chief of mission (DCM) at the United States Embassy in Bangladesh also participated in the programme, which was moderated by Syed Mohammad Kamal, vice president of AmCham and Country Manager at Mastercard.

The event was powered by Air Alliance Ltd – a UPS authorised service contractor in Bangladesh.

Bangladesh / Economy / Top News

Bangladesh / US / Trade

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • No document needed to avail cash incentives for remittance over Tk5 lakh
    No document needed to avail cash incentives for remittance over Tk5 lakh
  • File photo of Square Pharma factory
    Square Pharma fire yet to come under control: Fire service
  • File Photo: State Minister for Power, Energy and Mineral Resources Nasrul Hamid/UNB
    Russia has offered to sell crude oil to Bangladesh: Nasrul

MOST VIEWED

  • India to import goods from Bangladesh by rail
    India to import goods from Bangladesh by rail
  • File image
    India allows goods import from Bangladesh by rail, framework set
  • Photo: Mohammad Minhaj Uddin/TBS
    Direct container shipping to the United Kingdom starts on Friday
  • Photo: Collected
    No barrier in wheat import from India: Tipu Munshi
  • Photo: Courtesy
    Ctg Chamber president slams edible oil hoarders
  • Photo: Mohammad Minhaj Uddin/TBS
    NBR to allow more firms easy release of goods from ports

Related News

  • Bangladesh’s ‘deft’ balancing of US, China and India ties stands out, writes South China Morning Post
  • Union Bank holds shariah supervisory committee meeting
  • DSCC mayor wants launch terminal from Lalkuthi-Ruplal House removed 
  • Bangladesh to have its own stall at Cannes next year: Hasan
  • Russia has offered to sell crude oil to Bangladesh: Nasrul

Features

Musk is denying the sexual harassment allegation that surfaced this week. Photo: Bloomberg

Elon Musk’s crazily banal week 

2h | Panorama
Asus Zenbook 14 Flip OLED: A touch of brilliance to your life

Asus Zenbook 14 Flip OLED: A touch of brilliance to your life

5h | Brands
Keep your phone by your side with this armband

Keep your phone by your side with this armband

3h | Brands
Are Focallure gel masks worth the hype?

Are Focallure gel masks worth the hype?

4h | Brands

More Videos from TBS

Photo: TBS

Can Sri Lanka bounce back?

6h | Videos
How to apply for a job at Oxfam

How to apply for a job at Oxfam

7h | Videos
Investors, public to suffer from electricity price hike

Investors, public to suffer from electricity price hike

19h | Videos
Health benefits of summer fruits

Health benefits of summer fruits

20h | Videos

Most Read

1
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

2
A packet of US five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron
Banking

Dollar hits Tk100 mark in open market

3
PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire
Crime

PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire

4
Bangladesh at risk of losing ownership of Banglar Samriddhi
Bangladesh

Bangladesh at risk of losing ownership of Banglar Samriddhi

5
BSEC launches probe against Abul Khayer Hero and allies
Stocks

BSEC launches probe against Abul Khayer Hero and allies

6
The story of Bangladesh becoming a major bicycle exporter
Industry

The story of Bangladesh becoming a major bicycle exporter

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab