US Ambassador to Dhaka Brent Christensen emphasized the critical role of transparency, predictability, and efficiency in tax and customs administration for boosting trade and investment. He called for continued efforts to improve the business environment, enhance competitiveness, and develop the private sector.
Christensen made these remarks during a meeting with leaders of the International Chamber of Commerce, Bangladesh (ICC Bangladesh) on Monday. The meeting took place at the ICC Bangladesh secretariat, as stated in a press release issued by ICC Bangladesh.
Welcoming the ambassador, ICC Bangladesh President Mahbubur Rahman highlighted the long-standing strong economic ties between Bangladesh and the United States. He stressed the need to further enhance trade, investment, and private sector cooperation between the two countries.
Regarding the recently concluded Bangladesh-US Agreement on Reciprocal Trade (ART), Rahman mentioned that Bangladesh has taken initiatives to purchase significant amounts of goods and services from the US, including the procurement of 14 Boeing aircraft, increased imports of agricultural products and cotton, and long-term initiatives in the fuel sector.
Mahbubur Rahman also noted the growing demand for US cotton in Bangladesh and emphasized the importance of supply chain transparency, traceability of product sources, and sustainable production in the ready-made garment sector.
Ambassador Christensen commented on the Bangladesh-US agreement, stating that public discussion and media review of any policy decision is natural. Despite differing opinions, the main goal of the agreement is to create a more balanced, sustainable, and mutually beneficial economic partnership between Bangladesh and the US. He expressed hope that the agreement would create new opportunities for businesses and consumers in both countries.
The US ambassador highlighted the importance of removing non-tariff barriers and strengthening the policy environment for business and investment to further expand economic relations between the two countries. He emphasized the need for countries and businesses to adapt to the changing global economy, trade policies, and market demands.
Rupali Chowdhury, President of the Foreign Investors' Chamber of Commerce and Industry (FICCI), noted that governance and regulatory challenges are not unique to any one country but exist to varying degrees in both developing and developed nations. She expressed hope for deeper trade and investment cooperation between Bangladesh and the US.
Rubana Huq, former President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), stated that Bangladesh remains one of the world's most important sourcing destinations for ready-made garments and textiles. She emphasized the need for continuous improvement in labor standards, transparency, and sustainable production systems to enhance Bangladesh's competitiveness in the global market.
Mohammad Fazlul Haque, former President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), highlighted the challenges of achieving self-reliance in the industry's raw material and supply chain overnight. He stressed the need for long-term planning, investment, and policy support. Haque also emphasized the growing demand for man-made fiber (MMF) based garments in the global market and the need for US investment in cotton conservation and facilities in Bangladesh to facilitate easier access to high-quality US cotton for local garment manufacturers.
The meeting provided an opportunity for both sides to discuss ways to strengthen economic ties, address challenges, and explore new avenues for cooperation.
