US Commercial Service opens office in Dhaka

US Commercial Service, the trade promotion arm of the US Department of Commerce's International Trade Administration, has opened its office in Dhaka for the first time to facilitate trade services between the two countries.

Commerce Minister Tipu Munshi and Arun Venkataraman, assistant secretary of Commerce for Global Markets and director general of the US and Foreign Commercial Service, jointly inaugurated the new office at an event held in the capital's Pan Pacific Sonargaon on Thursday.

Tipu Munshi said a Trade and Investment Cooperation Forum Agreement (Ticfa) meeting will be held soon to discuss cotton and GSP issues between the two countries.

Arun Venkataraman said the opening of the commercial service office in Dhaka indicates the growing importance of Bangladesh as a trade partner of the United States.

"As the United States and Bangladesh celebrate 50 years of bilateral relations, it is an opportune moment to expand the strong foundation of our bilateral and commercial relationship," he said.

"The new office here in Bangladesh will play an important role in strengthening trade ties between our countries, and how we support US companies doing business in such a dynamic and fast-growing economy. Trade between our two countries accounts for an estimated $10 billion, showcasing the vast existing and potential opportunities in this country," Arun Venkataraman added.

Beginning today, the US Department of Commerce will station a senior Foreign Commercial Service officer at the US Embassy in Dhaka to maximise US export opportunities. The office will work collaboratively with Bangladesh to assist US companies considering their entry or expanding their presence in the Bangladeshi market.

The office will help facilitate one-on-one business counseling, provide tailored export expertise and information on the Bangladeshi market, and work to connect US businesses with potential Bangladeshi partners through business matchmaking and other services.

The US Foreign Commercial Service is the export promotion arm of the International Trade Administration, a bureau of the US Department of Commerce. It has an extensive global network consisting of 122 offices around the world and in over 100 US cities.

Across Asia, it will have a presence in 19 markets, including Bangladesh.  

The International Trade Administration (ITA) at the US Department of Commerce is the premier resource for American companies competing in the global marketplace. ITA has more than 2,200 employees assisting US exporters in more than 100 US cities and 81 markets worldwide.