Mutual cooperation to attract more US investment

Mutual cooperation between Bangladesh and the US may attract more investment in diversified segments and contribute to the former's transition to a developing nation, said AmCham President Syed Ershad Ahmed at a discussion.

The US is the single largest export market for Bangladeshi goods in the world and the bilateral trade volume in fiscal year 2022-23 was approximately $14 billion, he informed.

The American Chamber of Commerce in Bangladesh (AmCham) organised the discussion styled "Bilateral Trade Relations for Driving Growth" at The Westin Dhaka on Monday.

The US is still the largest contributor to foreign direct investment in Bangladesh and the biggest source of remittance too, he added.

"The fact is that partnerships are critical and we value the mutual cooperation between the US and Bangladesh," said Ahmed.

Policy Research Institute of Bangladesh Chairman Zaidi Sattar supplemented on the role of World Trade Organization and how both the US and Bangladesh could act in the days ahead in the evolving geo-political environment.

Bangladesh Garment Manufacturers and Exporters Association President Faruque Hassan shared improvements Bangladesh made in the last decade on ensuring a safe working place.

He suggested considering a preferential tariff regime similar to the generalized system of preferences for Bangladesh once it makes the United Nations status graduation from a least developed country to a developing nation in 2026.

Coca-Cola Bangladesh Managing Director Ta Duy Tung shared suggestions on the ease of doing business with regard to taxation policies and the energy situation in Bangladesh and their future investment plans to expand operations.