Lutfey Siddiqi, Special Envoy on International Affairs to the Chief Adviser, has said that ongoing high-level economic discussions with the United States could lead to positive progress for Bangladesh regarding non-tariff barriers.
He said a formal decision on the issue is expected either by the end of this week or sometime next week, after which detailed information will be made public.
Siddiqi shared the information at a press briefing held on Tuesday (27 January) at the Foreign Service Academy on Bailey Road in the capital.
He said US Treasury Secretary and cabinet member of President Donald Trump, Scott Bessent, held a direct meeting with Bangladesh’s interim government, describing it as one of the highest-level in-person meetings between Bangladesh and the United States at the cabinet level.
During the meeting, the non-tariff barrier reforms proposed by the United States were found to be largely aligned with Bangladesh’s ongoing reform agenda. Issues such as ease of doing business, improvement of port management, and reform of tax administration featured prominently in the discussions.
The special envoy said that all relevant agencies, including the National Board of Revenue (NBR) and port authorities, are working towards a common goal of improving the business and trade environment. As a result, visible progress has been achieved in a short time, presenting Bangladesh as a constructive partner from the US perspective.
Bangladesh’s trade deficit with the United States, which stood at nearly $6 billion, has already declined significantly. This progress has further strengthened Bangladesh’s position in the discussions, he added.
Siddiqi said the main challenge now is to secure attention at the highest political level in the United States, particularly that of President Trump. However, following the meeting, discussions with the deputy treasury secretary and other relevant officials have provided Bangladesh with encouraging signals.
He said there is a possibility of securing some relief from the existing overall 20 per cent tariff imposed on Bangladesh. In addition, indications have been received that additional benefits may be extended to certain specific sectors. However, details have not been disclosed as the matter is yet to be finalised.
Summing up, the special envoy said Bangladesh’s coordinated economic diplomacy is proving effective, and the likelihood of a positive outcome on the non-tariff barrier issue remains strong.