[🇧🇩] The U.S.A.---A Strategic Partner of Bangladesh

[Saif]

Strategic partner stopped the aid to BD. What is being propagated on forum is exactly opposite of what is happening in reality.

You did not read the news carefully. Trump has stopped financial aid to all poor countries in the world for 3 months. The aid suspension is not Bangladesh specific.

 

[Saif]

Top US businessman wants to invest in Bangladesh

Top US businessman Gentry Beach expressed his interest to invest in Bangladesh during a meeting with Chief Adviser Professor Muhammad Yunus yesterday in Dhaka.

www.thedailystar.net

Top US businessman wants to invest in Bangladesh

Gentry Beach

Top US businessman Gentry Beach expressed his interest to invest in Bangladesh during a meeting with Chief Adviser Professor Muhammad Yunus yesterday in Dhaka.

Beach, chief executive and founder of Highground Holdings, said his company had already acquired multiple assets in Bangladesh and would like to invest more in the country's energy, finance and other sectors, according to a statement.

"You have done a great job," he told the chief adviser, adding that the law and order situation had improved and stability had returned.

Beach, who headed a delegation of US billionaire investors, has close business ties with Trump family.

He came to Dhaka from Pakistan by chartered plane yesterday for a brief visit, and also met with political leaders and top government officials.

"It is time for more investment to come to this country. We are excited to be here," Beach, who is also chairman of Paramount USA, told Professor Yunus.

He said his company was also interested in investing in real estate, especially in low-cost social housing, aerospace and defence.

Professor Yunus welcomed Beach for making investments at "a critical time" for the country.

He said that the interim government was carrying out reforms to attract more foreign direct investment in Bangladesh.

"The country is ready for business. The business conditions are now right. We are beginning a new chapter in our history," the chief adviser said.

Professor Yunus said Bangladesh needed more US investment in many sectors, including gas exploration in onshore and offshore fields.

Beach, whose company has invested in Africa and plans to invest in Pakistan, said more American investment would mean a rise in labour wages.

"We will make Bangladesh great again," he said.

Special Envoy to the Chief Adviser Lutfey Siddiqi, Bangladesh Investment Development Authority (Bida) Chairman Ashik Chowdhury and Senior Secretary to SDG Affairs Lamiya Morshed were also present.

Earlier, in a meeting with political leaders, an adviser to the interim government, and senior Bida officials at the InterContinental Dhaka yesterday, Beach expressed interest in investing in mineral and gas exploration in Bangladesh.

The visit of the delegation of US billionaire investors aims to assess investment opportunities and available facilities in the country, said Syeed Abdullah Muhammad Taher, Nayeb-e-Ameer (vice-president) of Bangladesh Jamaat-e-Islami, at a media briefing after the meeting.

"At the meeting, we highlighted the current political situation, stability, investment opportunities, and avenues for cooperation. We have encouraged them to invest in Bangladesh," he said.

BNP Secretary General Mirza Fakhrul Islam Alamgir was expected to attend the meeting but did not, Taher said.

Responding to a question, the Jamaat leader said that his party does not believe US-Bangladesh relations have worsened following Donald Trump's victory in the US presidential election.

"Although there were concerns that Bangladesh's relationship with the USA might deteriorate, that has not happened," he said.

He emphasised that global policies, politics and business interests do not depend on a single individual and vary from one person to another.

"These matters are driven by international policies. I believe there will be no negative impact. In fact, I think the relationship will improve," he said.

Taher also said that Beach has close ties to the Trump family. "He is a business partner of the Trump family and collaborates with Trump's son. They have business interests in minerals and operate in 44 countries," he said.

Earlier this week, Beach also pledged billions of US dollars in investment in Pakistan during his visit to the South Asian country. However, Beach and Mahfuj Alam, an adviser to the interim government, who attended the meeting, declined to comment afterwards.

An official of the US embassy in Dhaka said Beach came as a private person and his visit was not connected with the US government.​

 

[Bilal9]

The Hindutva folks here should stop getting excited.

USAID foreign assistance to India was also frozen.

ALL USAID assistance disbursed overseas was frozen, not just Bangladesh

And then, today (due to legal challenges) The White House has rescinded the freezing of Federal Aid including that to USAID.

 

[Bilal9]

Beach, whose company has invested in Africa and plans to invest in Pakistan, said more American investment would mean a rise in labour wages.

"We will make Bangladesh great again," he said.

Wow! A bit unreal.

He didn't make a trip to New Delhi....why?

 

[Saif]

Wow! A bit unreal.

He didn't make a trip to New Delhi....why?

May be Trump forbade him to visit India at this time.

 

[Saif]

US TARIFF ON CANADA, MEXICO, CHINA: A window of opportunity for Bangladesh

THE United States has implemented a series of executive order tariffs, effective from February 4, on key trading partners, including Canada, Mexico and China, as part of its broader trade policy agenda. Additional 25 per cent tariffs on Canadian and Mexican imports, whereas 10 per cent tariffs...

www.newagebd.net

US TARIFF ON CANADA, MEXICO, CHINA: A window of opportunity for Bangladesh
Imran Hossain 11 February, 2025, 00:00

New Age

THE United States has implemented a series of executive order tariffs, effective from February 4, on key trading partners, including Canada, Mexico and China, as part of its broader trade policy agenda. Additional 25 per cent tariffs on Canadian and Mexican imports, whereas 10 per cent tariffs on Chinese goods are also imposed by US president Donald Trump. The orders are considered as bold steps to hold China, Canada and Mexico accountable for their pledges to curb illegal immigration and the flow of poisonous fentanyl and other drugs into the United States. These tariffs, aimed at protecting domestic industries and addressing trade imbalances, have had far-reaching consequences for global trade dynamics. One unintended beneficiary of these policies has been Bangladesh, which has seen an opportunity to enhance its export competitiveness in the global market. This article explores how US tariffs on Canada, Mexico and China have created a favourable environment for Bangladesh to expand its export footprint, particularly in the apparel and textile sectors, as well as leather and agricultural products.

US tariffs on Canada and Mexico

THE US imposition of tariffs on Canadian and Mexican goods, particularly vehicle parts, fruits, vegetables, spirits, beer, lumber, grains, potatoes, steel and aluminium, under Section 232 of the Trade Expansion Act of 1962, initially strained trade relations within North America. While the US-Mexico-Canada Agreement eventually replaced NAFTA and eased some tensions, the tariffs created uncertainty in the short term. This uncertainty prompted US importers to diversify their supply chains and reduce reliance on Canadian and Mexican manufacturers for certain goods.

For Bangladesh, this shift presented an opportunity. As a low-cost manufacturing hub with a strong focus on ready-made garments, Bangladesh was well-positioned to fill the gap. The country’s competitive labour costs, coupled with its duty-free access to the US market under the Generalised System of Preferences for certain products, made it an attractive alternative for US buyers. Additionally, Bangladesh’s growing expertise in non-traditional sectors like leather goods and footwear further enhanced its appeal as a sourcing destination.

US-China trade war

THE US-China trade war, marked by successive rounds of tariffs on billions of dollars’ worth of goods, has been the most significant driver of shifting global trade patterns. The US imposed an additional 10 per cent tariff on a wide range of Chinese products, including textiles, electronics and machinery, to curb China’s dominance in global trade and address intellectual property like Deepseek concerns. These tariffs disrupted established supply chains, forcing US companies to seek alternative sourcing destinations.

Bangladesh emerged as a key beneficiary of this realignment. As Chinese exports to the US become more expensive due to tariffs, global buyers will begin to shift their orders to other low-cost countries. Bangladesh, with its well-established RMG sector, is a natural choice. The country’s apparel exports to the US surged, as it offered competitive pricing and compliance with international labour and environmental standards. Moreover, Bangladesh’s focus on sustainable manufacturing practices resonated with US buyers seeking ethically produced goods.

According to a report on the Asian Development Bank, 2021, the trade war also accelerated the relocation of Chinese manufacturing units to Bangladesh. Facing rising production costs and tariffs, many Chinese investors turned to Bangladesh to take advantage of its low wages and preferential trade agreements. This influx of foreign investment has not only boosted Bangladesh’s export capacity but also facilitated technology transfer and skill development, further enhancing its competitiveness.

Prospects for Bangladesh

WHILE US tariffs on Canada, Mexico and China have created opportunities for Bangladesh, the country must address several challenges to fully capitalise on these developments. Infrastructure bottlenecks, such as port congestion and inadequate transportation networks, remain significant hurdles. Additionally, Bangladesh must improve its ease of doing business rankings to attract more foreign investment and diversify its export basket beyond RMG.

To sustain its export growth, Bangladesh should focus on innovation, value addition and compliance with international standards. Investing in technology and automation will be crucial to maintaining cost competitiveness as wages rise. Besides, the interim government needs to find long-term solutions for electricity shortages and banking sector concerns by forming the Export Development Fund to ensure sustainability in the export industry. Furthermore, the government should negotiate free trade agreements with key markets, including the US, to secure long-term trade benefits.

The US tariffs on Canada, Mexico and China have reshaped global trade dynamics, creating a window of opportunity for Bangladesh to enhance its export competitiveness. By leveraging its cost advantages, expanding its manufacturing capabilities and addressing structural challenges, Bangladesh can solidify its position as a preferred sourcing destination for global buyers. As the global economy continues to evolve, Bangladesh must adopt a proactive approach to trade policy and industrial development to ensure sustained growth and prosperity. In the end, we can expect that the impact of US tariffs has inadvertently boosted Bangladesh’s export competitiveness, underscoring the country’s potential as a strategic partner for global brands navigating an evolving trade landscape.

Imran Hossain is a lecturer in business administration at the Rabindra Maitree University, Kushtia.​

 

[Saif]

Bangladesh to import more US cotton to ward off Trump tariff

Bangladesh looks to import more cotton from the US so that both American suppliers and local businesses can benefit and the country can get immunity from Trump’s tariff war, Foreign Adviser Md Touhid Hossain said yesterday.

www.thedailystar.net

Bangladesh to import more US cotton to ward off Trump tariff

File photoi: BSS

Bangladesh looks to import more cotton from the US so that both American suppliers and local businesses can benefit and the country can get immunity from Trump's tariff war, Foreign Adviser Md Touhid Hossain said yesterday.

The Trump administration has been imposing high tariffs on different countries, but Bangladeshi goods have not been targeted by such measures so far.

If Bangladesh imports more cotton from the US, the American government will hesitate to impose tariffs on goods made in Bangladesh, which has been performing well in the US markets despite facing high duties of 15.62 percent, according to Hossain.

The adviser made these comments at a workshop on the importance and potential of cotton cultivation in Bangladesh to save foreign currency.

The session was jointly organised by the Economic Reporters' Forum (ERF), the Bangladesh Cotton Ginners Association, and Bangladesh Sudan Ginning Cotton Co Ltd (Sudan) at the ERF auditorium in Dhaka.

Hossain added that the government would offer bonded warehouse facilities to cotton ginners so they can receive fair prices. This will be part of a greater process to ensure the adequate and timely supply of cotton.

Bonded warehouse facilities would allow ginners -- which are individuals or entities that operate a cotton gin, a machine that separates cotton fibres from their seeds and other impurities -- to supply cotton to spinners for at least 10 fewer cents per pound, which will ultimately benefit the industries.

He revealed that Bangladesh sometimes imports lower-grade cotton at higher prices due to a lack of bonded warehouse facilities.

Hossain also stated that the government would consider classifying cotton as an agricultural product so that growers can benefit from subsidies are encouraged to cultivate more.

"If cotton is recognised as an agricultural product, farmers can be given subsidies to encourage cultivation. They can also avail bank loans."

He said he would urge the government to extend policy support for the cotton cultivators since both the production and import of cotton are important for the textile and garment sectors.

Moreover, Hossain said he wanted to increase cotton production so that it could meet 20 percent of Bangladesh's annual requirement of roughly 90 lakh bales. At present, domestically grown cotton meets only 2 percent of the domestic demand.

Additionally, the adviser assured he would try to remove the 4 percent advanced income tax on cotton ginning.

Land that is being used for tobacco cultivation should be repurposed for cotton cultivation, the adviser said, adding that he did not oppose tobacco cultivation.

He assured that he would raise a proposal which would allow cotton ginners to seek soft loans like the tannery and rawhide sectors to the advisory council soon.

Hossain further said he was not in favour of deferring Bangladesh's status graduation from the group of least developed countries (LDCs).

Since the EU and a few other countries will continue LDC trade benefits for Bangladesh up to 2029, he reasoned that it is a good time to prepare for graduation.

Preparation is very important as the EU has already given a list of actions to qualify for obtaining GSP Plus facilities in EU markets.

"Many taxable people are not paying taxes, so Bangladesh's current tax to gross domestic product ratio stands at around 8 percent, which is even lower than Nepal's. It is shameful," he said.

Bangladesh must increase the tax-GDP ratio to ensure social benefits, he added.

Md Fakhre Alam Ibne Tabib, executive director of the Cotton Development Board, said it is possible to produce 20 to 25 lakh tonnes of cotton in the country if proper policy support is given.

Golam Sarwar, general secretary of the Bangladesh Cotton Ginners Association, said cotton is a subsidised product worldwide, but not in Bangladesh.

Abul Khayer, a Bangladeshi cotton grower in Sudan, said he produces cotton on 32,000 acres of land. He urged Bangladeshis to go to Sudan and cultivate cotton.

Moazzem Hossain, member of the National Board of Revenue, said ginners can be incentivised as they are supplying to the local industrial sector.

ERF President Doulot Akter Mala and General Secretary Abul Kashem also spoke.​

 

[Saif]

Trump’s 2 deputy assistant secretaries to arrive Wed; democratic transition, tariffs, Myanmar issues to dominate meeting

This will be the first delegation from the US President Trump administration to visit Bangladesh.

en.prothomalo.com

Trump’s 2 deputy assistant secretaries to arrive Wed; democratic transition, tariffs, Myanmar issues to dominate meeting
Diplomatic CorrespondentDhaka
Published: 14 Apr 2025, 22: 29

Nicole Ann Chulick, deputy assistant secretary in the Bureau of South and Central Asian Affairs (SCA) of US Department of State, and Andrew R Herrup, deputy assistant secretary in the Bureau of East Asian and Pacific Affairs. US Department of State

Nicole Ann Chulick, deputy assistant secretary in the Bureau of South and Central Asian Affairs (SCA) of US Department of State, and Andrew R Herrup, deputy assistant secretary in the Bureau of East Asian and Pacific Affairs, will arrive in Dhaka early Wednesday on a three-day visit.

This will be the first delegation from the US President Trump administration to visit Bangladesh.

Various issues related to the Dhaka-Washington relations including reforms and democratic transition in Bangladesh, reciprocal tariffs imposed by Donald Trump, US assistance in Rohingya crisis and situation in Myanmar will be discussed during their visit.

According to officials from the foreign ministry and Bangladesh’s mission in Washington, Nicole Chulick will arrive in Dhaka first on Wednesday and Andrew Herrup will arrive later. Susan Stevenson, US chargé d’affaires in Myanmar, is likely to join Andrew Herrup.

According to diplomatic sources, the two deputy assistant secretaries will meet the US embassy officials in Dhaka on the first day to discuss current political situation in Bangladesh.

They will then hold separate meetings with leaders of various political parties, including the BNP and Jamaat-e-Islami, as well as representatives of civil society. The US officials will meet with foreign adviser Md Touhid Hossain, National security adviser Khalilur Rahman and other senior government representatives on Thursday.

Regarding this, , foreign adviser Md Touhid Hossain told Prothom Alo this would be the first high-level visit from the US since Donald Trump took office as president. As a result, various issues of the bilateral relations will be discussed. Relevantly, the issue of reciprocal tariffs imposed by Donald Trump might arise during discussions, he added.

Diplomatic sources said Nicole Chulick will focus on discussions with high-level interim government representatives on reform processes, especially on the US assistance to Bangladesh in its democratic transition. She might exchange views with leaders of various political parties including BNP and Jamaat-e-Islami, as well as representatives of civil society.

On the other hand, Andrew Herrup’s visit will emphasise the Myanmar and Rohingya situations. The Myanmar junta has no control over the country except for a few areas. Myanmar has become a hub for drug trafficking, illegal arms trade, abductions of foreign nationals, and human trafficking, including women and children, along with the persisting Rohingya issue.​