Dhaka to place trade commitments at USTR meet

In response to Washington's reciprocal tariff measures, Bangladesh is going to place its commitments, including duty-free access for a wider range of American goods and introduce a warehousing facility for US cotton.

As part of efforts to reduce the trade imbalance between the two countries, the government is expected to place these commitments during a meeting with officials from the United States Trade Representative (USTR) on 23 April at the USTR's headquarters in Washington, DC.

For reducing the trade gap with the US, Bangladesh will also increase purchases of Boeing aircraft, liquefied natural gas, gas turbines, and cotton, said Commerce Secretary Mahbubur Rahman.

At the same time, the private sector will also be encouraged to import more from the United States, he added.

Rahman is scheduled to meet Brendan Lynch, the assistant USTR for South and Central Asia, at his office in Washington, DC.

Lutfey Siddiqi, the chief adviser's special envoy for international affairs, is set to lead the Bangladesh delegation at the meeting.

Rahman informed that they will also highlight the country's intent to import more soybean oil, soybean seeds, consumer goods and industrial raw materials in bulk to reduce the trade gap.

Furthermore, issues regarding child labour and improving labour rights in Bangladesh will be discussed with the USTR officials, he said.

He also said representatives of the finance ministry and the National Board of Revenue (NBR), who are currently in the US for meetings with the International Monetary Fund (IMF), will be present at the USTR discussion.

Finance Adviser Salehuddin Ahmed and Finance Secretary Md Khairuzzaman Mozumder are already in Washington to participate in the IMF meeting, Rahman said, adding that issues related to customs will also be discussed with the USTR.

The commerce secretary further said that Bangladesh has already withdrawn the longstanding issue of requiring double fumigation of American cotton.

Also, Bangladesh will provide warehousing for US cotton and facilitate imports of soybean products by the private sector, he added.

In a quick response to Trump's reciprocal tariff, Commerce Adviser Sk Bashir Uddin had sent a letter to US Trade Representative Jamieson Lee Greer on April 7.

In it, he committed to removing the duties for importing another 100 goods from the US, along with the existing 190.

The letter stated that Bangladesh has been examining ways to reduce the tariff rates and eliminate all kinds of non-tariff barriers.