Bangladesh ready to scale up imports from US: Prof Yunus

Chief Adviser Prof Muhammad Yunus on Monday said Bangladesh is prepared to scale up its imports from the United States and hoped that this would pave the way for further tariff reductions, contributing to a more sustainable and mutually beneficial trade partnership.

He reaffirmed Bangladesh’s strong commitment to deepening bilateral relations with the United States, particularly in trade, investment, energy and development cooperation.

“Thank you very much for the support. We are very happy about what has happened. This is key to our economy,” Prof Yunus said during a meeting with Assistant United States Trade Representative (AUSTR) Brendan Lynch at the Chief Adviser’s Office in Tejgaon, Dhaka.

He was referring to the USTR’s recent decision—announced on July 31—to lower the reciprocal tariff rate on Bangladeshi exports to the US from 35 percent to 20 percent, a move he described as a significant milestone in bilateral trade relations, said Chief Adviser’s Deputy Press Secretary Abul Kalam Azad Majumder.

During the meeting, both sides discussed strategies to reduce the trade imbalance between the two countries, as well as Bangladesh’s intention to expand imports of US agricultural products such as cotton and soybeans.

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Discussions also covered enhanced energy cooperation, including LPG imports from the US, civil aircraft purchases, drug control measures and the ongoing Rohingya humanitarian crisis.

Emphasising continued progress in bilateral engagement, he voiced optimism regarding the early signing of the draft bilateral trade agreement currently under negotiation.

“Our interests are closer to those of the United States. That makes this process easier and more promising,” he said.

The Chief Adviser also highlighted Bangladesh’s actions in regard to the 11-point Labour Action Plan proposed by the US, underscoring the government’s dedication to upholding international labour standards and fair practices.