Bangladesh seeks more US investment, preferential access to its market

Bangladesh sought more US investment, especially in the field of manufacturing, technology transfer and infrastructure development, and preferential access of its products to the US market, at the second high-level economic partnership consultation held in Washington DC on Thursday.

Highlighting the strong and growing economic partnership between the two countries, the meeting discussed different bilateral issues including cooperation on climate change, renewable energy, maritime and blue economy, Covid-19, tourism and hospitality, and civil aviation, said a joint statement.

Prime Minister's Adviser for Private Industry and Investment Salman F Rahman and US State Department Under Secretary for Economic Growth, Energy, and the Environment Jose W Fernandez co-chaired the day-long meeting.

Appreciating US firms' investment in Bangladesh's renewable energy, telecommunications, agriculture and food processing sectors, Salman F Rahman underscored increased business to business and people to people contacts between the two countries.

He also sought US technical assistance to sustainably explore the Bangladesh's ocean resources and further develop its blue economy.

Mentioning that the resumption of Dhaka-New York direct Biman flights is a priority for the government, Salman F Rahman drew US attention for expeditious action on the matter. They agreed to work in close cooperation to resume the flight as early as possible.

The United States highlighted Bangladesh's potential to be a regional leader in digital trade.

Applauding Bangladesh's remarkable economic growth, tremendous success in Covid-19 vaccination, and progress in the labour sector, Jose W Fernandez emphasised regular consultation between the two friendly countries.

According to the joint statement, both countries shared a common vision of a free, open, inclusive, peaceful, and secure Indo-Pacific region with shared prosperity for all. The United States briefed Bangladesh on the Indo-Pacific Economic Framework (IPEF), while Bangladesh welcomed it.

State Minister for Foreign Affairs Md Shahriar Alam, Principal Secretary to Prime Minister Dr Ahmad Kaikaus, Bangladesh Ambassador to the United States M Shahidul Islam and lawmakers Shafiul Islam Mohiuddin and Begum Shamsun Nahar were present at the event.