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

[Saif]

Reforms needed to attract more US investment: Peter Haas

US Ambassador to Bangladesh Peter Haas yesterday stressed stabilising the local macro-economic situation and going for policy reforms to create a comfortable, competitive and business-friendly environment for attracting US investment.

www.thedailystar.net

Reforms needed to attract more US investment: Peter Haas

US Ambassador to Bangladesh Peter Haas yesterday stressed stabilising the local macro-economic situation and going for policy reforms to create a comfortable, competitive and business-friendly environment for attracting US investment.

"Bangladesh's success story attracts investment, but the country needs regulatory improvements to create a truly competitive business environment," he said.

Haas made this comment while addressing the opening session of the three-day "29th US Trade Show", organised by the American Chamber of Commerce in Bangladesh (AmCham) at the InterContinental Dhaka yesterday.

Haas added that positive developments in Bangladesh were already underway.

US companies that are already working in Bangladesh recognise the potential of bilateral trade and providing high-quality products to the local consumers, he added.

According to Haas, the success of American energy companies in Bangladesh demonstrates the positive impact of US investment.

He also said the government's push to streamline business operations through the Bangladesh Investment Development Authority (BIDA) is a welcome step.

Citing how US investors have no shortage of investment destinations, Haas suggested that Bangladesh foster a business-friendly environment to grab their attention. In fact, the environment must be so welcoming that American investors can wake up in the morning and immediately decide where to invest, he said.

Haas informed that the US government and private sector are interested in working together to develop an investment-friendly atmosphere in Bangladesh.

Salman F Rahman, the Prime Minister's adviser on private industry and investment, acknowledged that there are areas that need to be worked on, including regulations, interest rates, and taxes.

Rahman believes digitalisation could be a potential solution for increasing tax collection and the tax-GDP ratio.

However, during the past two decades, Bangladesh has seen visible development of not only its economy, but also in its social index. So now the government is trying hard to create a competitive environment to draw investment, he said.

While expressing concerns about the ease of doing business, Rahman said BIDA is working on addressing the issue by providing all 130 investment services through its digital system.

He also pointed out that the central bank's decision regarding the crawling peg and market-based bank interest rate would help overcome the ongoing challenges.

Rahman said that if the local currencies of countries from which Bangladesh imports products can be used for bilateral trade, then the pressure on the country's US dollar reserves will decrease.

"Increasing the price of the dollar will have a great impact on imports, but remittance income and export-oriented industries will also benefit," he added.

Zunaid Ahmed Palak, the state minister for post, telecommunications and information technology, said the local information technology (IT) companies have built up amazing capacity over the last 15 years.

He said IT entrepreneurs can now proudly present their achievements, having created around 2 million jobs over the last 10 years.

According to him, just during the last decade, around $2 billion was invested in this sector.

"Now is the perfect time to invest in this sector as skilled manpower is available in Bangladesh," he said, adding that around 700 freelancers are contributing to American companies.

Palak claimed that US companies source around 60 percent of their outsourced workforce from Bangladesh.

AmCham President Syed Ershad Ahmed said the US is one of Bangladesh's most significant and flourishing business partners, with growing opportunities in various sectors.

According to statistics, the US is the largest single-country investor in Bangladesh.

According to Ahmed, since the inception of the US Trade Show in 1992, when bilateral trade was worth just a few million USD, the event has played a pivotal role in fostering trade, which now exceeds $10 billion.

"We are confident that this show will serve as a gateway for American businesses to tap into the fast-growing Bangladesh market across diverse sectors, including energy and power, agriculture, heavy industries, consumer goods, healthcare and medical equipment, and various services," Ahmed said.

At the event, a total of 44 exhibitors are showcasing more than 100 top-tier US products and services across 79 booths. The trade show will remain open from 10:00am to 8:00pm every day.

The entry fee is Tk 30 per visitor, but invitees and students can enter for free.​

 

[Saif]

https://thedailynewnation.com/lu-to-discuss-bd-us-co-op/

Lu to discuss BD-US co-op
11 May 2024, 12:00 am

Staff Reporter :

The State Department announced that Assistant Secretary of State for South and Central Asian Affairs Donald Lu will be visiting Bangladesh to discuss U.S.-Bangladesh cooperation, including initiatives on climate change and enhancing economic ties.

According to the State Department's website, Lu's trip to India, Sri Lanka, and Bangladesh is scheduled for May 10—15.

The statement emphasized that Lu's visit aims to "strengthen bilateral cooperation with each country and demonstrate U.S. support for a free, open, and prosperous Indo-Pacific region." In Dhaka, Lu plans to meet with government officials, civil society leaders, and other stakeholders to discuss various cooperation topics.

Foreign Minister Hasan Mahmud of Bangladesh earlier mentioned that Lu's visit would also include a trip to the Rohingya camps and cover other aspects of bilateral cooperation.

During a State Department press briefing, Spokesperson Mathew Miller addressed a recent incident where two Bangladeshi citizens were shot by the Indian Border Security Forces (BSF).

He stated, "We are aware of the reports about this incident. We understand that the Indian and Bangladeshi border security agencies are communicating with one another." Miller deferred further comment to the ongoing investigations by the respective countries.

The shooting incident coincided with the visit of Indian Foreign Secretary Vinay Mohan Kwatra to Dhaka for discussions on various bilateral issues, including an invitation to Prime Minister Sheikh Hasina to visit Delhi after India's Lok Sabha election.

Post-discussion, Foreign Minister Hasan Mahmud relayed, "We have emphasized not to use lethal weapons. Mr. Kwatra informed us that India has instructed their border security force accordingly.

There is no lack of sincerity between the two countries at governmental and political levels regarding this."

In the same briefing, a journalist questioned the U.S. visa policy for Bangladeshis following alleged democratic irregularities in local elections. Miller responded, "I don't have any updates to announce.

We obviously made that policy public. At times we make designations under that policy public; at times we keep them private. I don't have anything to announce today."​

 

[Saif]

Donald Lu arrives today

Foreign minister Hasan Mahmud said that the issues relating to the United States’ visa policy for Bangladesh announced before the January 7 elections and...

www.newagebd.net

Donald Lu arrives today
Staff Correspondent 14 May, 2024, 00:38

Donald Lu

Foreign minister Hasan Mahmud said that the issues relating to the United States' visa policy for Bangladesh announced before the January 7 elections and Dhaka's call for withdrawal of restrictions on Rapid Action Battalion might come up during the visit of Donald Lu, the US assistant secretary of state for South and Central Asian affairs.

He, however, said Bangladesh had a very good relation with the US and the US president Joe Biden had conveyed in a message to prime minister Sheikh Hasina, on her assumption to office for the fourth consecutive term in January, to take the relation to a new height.

'As these issues left some marks on our relation, easing the US visa policy and withdrawal of their restrictions on RAB may naturally come up for discussion during the visit of Donald Lu,' the foreign minister told reporters at his Segunbagicha office on Monday.

He said that both sides would also discuss economic ties and ways to enhance the relation further.

Donald Lu is expected to arrive in Dhaka today as per the schedule announced by the US Department of State on May 9.

'Assistant Secretary of State for South and Central Asian Affairs Donald Lu will travel to India, Sri Lanka, and Bangladesh May 10—15. His trip will strengthen bilateral cooperation with each country and demonstrate U.S. support for a free, open, and prosperous Indo-Pacific region,' said the US Department of State in a release.

Assistant secretary Lu will conclude his tri-nation trip in Dhaka, where he will meet with government officials, civil society leaders, and other Bangladeshis to discuss US-Bangladesh cooperation, including addressing the climate crisis and deepening economic ties, said the release.

US assistant secretary of state Donald Lu during his last visit to Bangladesh in January 2023 conveyed to the government that the US wanted the general elections in Bangladesh to be held in a free and fair manner while expressing its commitment to democracy.

In September, 2023, the US Department of State announced that it had started imposing visa restrictions on individuals involved in undermining the democratic election process in Bangladesh.

The announcement came at a time when the Election Commission of Bangladesh started making preparations for the January 7 election.

In December 2021, the US imposed sanctions against seven former and serving officials of the RAB and the force itself over allegations of rights abuse.

Dhaka on several occasions called upon the US authorities for the withdrawal of the sanctions.​

 

[Saif]

Sanctions on RAB, visa policy affected relations with the US: Foreign minister

Sanctions on RAB officials and US visa policy affecting relations discussed by Bangladesh Foreign Minister with upcoming US official visit

en.prothomalo.com

Sanctions on RAB, visa policy affected relations with the US: Foreign minister
Diplomatic CorrespondentDhaka
Published: 13 May 2024, 21: 50

Foreign Minister Hasan Mahmud addresses an event

The US visa policy for the citizens of Bangladesh and sanctions on Rapid Action Battalion (RAB) officials have affected the relations between Dhaka and Washington, thinks foreign minister Hasan Mahmud.

He said the issues will be discussed during the visit of US Assistant Secretary of State for South and Central Asian Affairs Donald Lu.

The foreign minister on Monday made the remarks while responding to a question of a newsperson on the upcoming visit of Donald Lu in Bangladesh.

Asked about the thorny issues in the bilateral relations of the two countries, Hasan Mahmud, also joint general secretary of governing Bangladesh Awami League said relations between Bangladesh and the US are very sound. When Sheikh Hasina was elected Prime Minister for the fourth straight term, the US President wrote a letter to her expressing his interest to advance the relations to a new height. Dhaka will work together with whoever visits here from the US administration. There are economic relations and we have cooperation in many sectors.

Speaking about the sanctions on RAB officials and the visa policy, the foreign minister said, "We will discuss US Visa policy and sanctions on RAB officials. We have already discussed the matter of withdrawing or relaxing those when US White House and state department officials visited here earlier … so these issues will come up naturally (this time). Both the countries are working to advance the relations" he said.

The US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, is scheduled to arrive on a two-day visit in Dhaka Tuesday.

On the second day of his visit, Lu will hold a bilateral meeting with foreign secretary Masud Bin Momen. Later, he will pay a courtesy call on foreign minister Hasan Mahmud, and prime minister's private industry and investment advisor Salman F Rahman.

Replying to a question on Rohingya repatriation, the foreign minister said Dhaka wants to begin Rohingya repatriation as Myanmar's internal conflict cannot be an excuse for delaying the repatriation process.

However, he said it is true that the current situation in Arakan creates a barrier to repatriation to some extent, but conflict is always there in Myanmar.

"We are always in engagement with Myanmar. We want to see the commencement of repatriation at least. I made the same urge to the Myanmar foreign minister at a meeting during his Uganda visit. The minister expressed his goodwill in this regard," he added.

When asked about key opposition BNP's politics over the call for boycotting Indian products, Hasan Mahmud said this call of the BNP has stumbled. The country that shares a border of several thousand kilometres with Bangladesh, our development is never possible without maintaining good relations with that country. It is also not possible either to maintain peace and stability.​

 

[Saif]

Donald Lu in city: Dhaka to focus on economy, trade

Dhaka’s priority will be trade and economy, while Washington’s will be security, especially advancing partnership under its Indo-Pacific Strategy, as US Assistant Secretary of State for South and Central Asia Donald Lu holds meetings with the government high-ups today.

www.thedailystar.net

Donald Lu in city: Dhaka to focus on economy, trade

US Assistant Secretary Donald Lu. Photo: Reuters

Dhaka's priority will be trade and economy, while Washington's will be security, especially advancing partnership under its Indo-Pacific Strategy, as US Assistant Secretary of State for South and Central Asia Donald Lu holds meetings with the government high-ups today.

According to diplomatic sources and analysts, Washington is focused on strengthening its relations with the Indo-Pacific nations keeping China in mind, though it says it does not target any specific country.

Following the visits to India and Sri Lanka since May 10, Lu arrived in Dhaka yesterday morning and held a meeting with civil society members where he discussed human rights, labour rights, environment, gender, and media freedom.

Last night, he also met Prime Minister's Adviser on Private Industry and Investment Salman F Rahman at his residence. Today, he will hold a meeting with Foreign Secretary Masud Bin Momen and call on Foreign Minister Hasan Mahmud and Environment, Forest, and Climate Change Minister Saber Hossain Chowdhury.

"His trip will strengthen bilateral cooperation with each country and demonstrate US support for a free, open, and prosperous Indo-Pacific region," according to a statement issued by the US State Department ahead of Lu's visit to India, Sri Lanka, and Bangladesh.

At a recent briefing in Dhaka, Maxwell Martin, political officer at the US embassy in Dhaka, said Washington wants to see Bangladesh as a net security provider, meaning that the country can support regional countries in terms of security as the country has the capacity.

"We would hope that Bangladesh sees the Indo-Pacific Strategy (IPS) as an opportunity to cooperate with us and our partners to help address some of Bangladesh's security concerns," he said.

Washington's push for democracy, human rights, and good governance is also part of the US-led IPS, Martin said, referring to last year's US public statements on free and fair elections.

The US last year announced a visa policy for Bangladesh, saying those undermining democratic elections would be denied US visas. Earlier in 2021, it imposed sanctions on Rab and some of its officials.

Nilanthi Samaranayake, a visiting expert at the US Institute of Peace (USIP) and adjunct fellow at the East-West Center in Washington, in an article on April 30 said while the US raised the temperature on Bangladesh regarding the conduct of its election process before January, it appears to now be focused on the way forward in the relationship.

"As a result, a discussion about Dhaka signing the ACSA and the GSOMIA is worth reengaging on ahead of annual partner dialogues between the two countries," she wrote.

Prof Obaidul Haque, of Dhaka University's international relations department, said Lu may press for signing the two agreements -- Acquisition and Cross-Servicing Agreement (ACSA) on logistics and the General Security of Military Information Agreement (GSOMIA) -- to advance security and defence relationship.

"I don't think that Dhaka will sign the agreements now. It has a certain level of reluctance about it," he told The Daily Star yesterday.

In an email interview, Samaranayake said Dhaka is likely taking its time to study the specifics of the agreements and understand its options.

"The US agreements are bilateral and do not prevent Bangladesh from having partnerships with other countries such as China. Bangladesh's foreign policy approach is seen as open to multiple partnerships."

Meanwhile, Dhaka would be seeking funding under the US International Finance Corporation (IFC) amid challenges of depleting foreign currency reserves. Bangladesh is already getting funding from the IMF.

Washington earlier told Dhaka that funding from the DFC is conditioned to the improvement of labour rights. Dhaka recently amended the labour law and is working on more reforms, said foreign ministry officials.

Besides, as a climate vulnerable country, Bangladesh needs huge funding from the developed countries. Bangladesh's annual funding requirement is of $9 billion for climate change initiatives, but the government allocates only $3 billion, resulting in a shortfall of $6 billion.

"We need funding as well as technologies. We would seek greater US contribution towards this. Also, the US has been the largest donor for Rohingyas, and we would seek their support for them," said a government official.

Bangladesh would also seek investments from the US, the single largest export market for Bangladesh.

Former ambassador M Humayun Kabir said Washington has great economic interests in Bangladesh, including in the oil and gas sectors.

US oil-gas company ExxonMobil has expressed interest in exploring oil and gas reserves in Bangladesh's offshore blocks.

"We need to decide everything from the view of our national interest," said Humayun.​