The Bangladesh government has announced plans to expand trade with the United States by increasing imports from the US while ensuring the protection of its own economic interests.
Alongside this initiative, efforts are underway to address and eliminate non-tariff barriers that hinder smoother trade relations between the two nations.
This decision was disclosed during a press briefing following a meeting held at the Finance Ministry’s meeting room in the Secretariat on Sunday (April 6).
The meeting, chaired by Finance Adviser Salehuddin Ahmed, was attended by three other government advisors, several secretaries, business representatives, and economists. The discussion focused on strategies to mitigate the impact of reciprocal tariffs imposed by US President Donald Trump’s administration.
Salehuddin Ahmed emphasised the importance of strengthening trade ties with the US. "First, we will expand trade between Bangladesh and America," he said. "We will import essential goods such as LNG and other products from the US to bolster our commercial relations. At the same time, we will continue to focus on what we export to them."
He highlighted the need to enhance Bangladesh's competitiveness in key sectors, particularly the garment industry, which remains the backbone of the country’s exports.
"We aim to boost the capacity of our garment industry and other sectors so they can compete more effectively with global rivals. Americans already view Bangladeshi products as superior to those of many other countries. We will work to further enhance this perception," he added.
The Finance Adviser also mentioned the potential for importing additional services from the US, signalling opportunities for broader economic collaboration.
Salehuddin Ahmed acknowledged the challenges posed by non-tariff barriers, which include regulatory advantages and disadvantages beyond the 52-54% tariff figures often cited. "There are many official regulatory hurdles that American businessmen face when trading with us. We will rationalise these barriers as soon as possible to create a smoother trade environment," he explained.
Efforts to streamline these obstacles are expected to significantly boost bilateral trade, fostering stronger economic ties between Bangladesh and the US.
Planning Adviser Wahiduddin Mahmud noted that the recent US tariff hikes could prompt retaliatory measures from other major economic powers, including China and Europe. "We do not know where this will end, but there is no doubt that it will lead to significant shifts in the global economy," he remarked.
Despite uncertainties, Mahmud expressed confidence in Bangladesh’s ability to protect its primary export sector—ready-made garments. "Our main export product, ready-made garments, enjoys a substantial market in the US. We are working to ensure that our competitiveness increases so that we can survive alongside competing countries," he said.
Mahmud also pointed out that the increased tariffs would primarily impact American consumers and intermediaries rather than Bangladeshi workers. "We are at the very bottom in terms of worker wages, and labour costs cannot be reduced any further here. Therefore, any additional tax burden will likely shift elsewhere," he explained.
To maintain Bangladesh’s edge in the global market, the government is prioritizing productivity improvements within key industries, particularly the ready-made garment sector. "Many of our garment factories are capable of world-class productivity, and we believe this will enable us to compete effectively," Mahmud said.
Commerce Adviser Sheikh Bashiruddin echoed this sentiment, emphasizing the importance of presenting Bangladesh’s trade case appropriately to the US. "Our discussion today focused on how we can present our position in a way that supports the growth of trade with the United States," he said.
Khalilur Rahman, High Representative of the Chief Adviser, expressed optimism about finding solutions that align with Bangladesh’s interests. "It is possible to significantly increase our imports from the United States while maintaining our interests. We are exploring ways to do so and will make every effort to resolve this issue as soon as possible," he said.
Rahman revealed that discussions with local businessmen and signals received from the US Trade Representative’s office indicate alignment with Bangladesh’s objectives. "In the discussion that took place with businessmen today, we are all on the same page. Our ambassador in the United States spoke to the US Trade Representative's Office yesterday, and the feedback we are receiving aligns with our thinking. We believe we will be able to finalise our projections in the next one or two days," he added.
These discussions have been ongoing for some time, and Rahman assured that tangible outcomes would be visible within the next 24 to 48 hours.