Dhaka: Finance Adviser Dr Salehuddin Ahmed announced today that the government intends to rationalize and streamline the tariff structure to foster trade relations between Bangladesh and the United States. “We’ll bring products and other services from the USA. There are some non-tariff barriers as well as official and regulatory advantages and disadvantages.we’ll ensure that the business activities with the USA don’t face such obstacles,” Dr Salehuddin stated during a press briefing following a meeting with stakeholders on the US tariff issue at the Finance Division conference room at Bangladesh Secretariat.
According to Bangladesh Sangbad Sangstha, the meeting focused on taking immediate actions concerning the recently imposed US reciprocal tariff issue. Dr Salehuddin emphasized the importation of necessary products and commodities like LNG from the USA, aiming to enhance bilateral trade volume and strengthen trade relations further.
Chief Adviser’s High Representative on the Rohingya Problem and Priority Issues, Khalilur Rahman, expressed optimism that the government could finalize its position on the US tariff issue within the next one to two days. He stated, “We’ll crystallize it over the next 24 hours to 48 hours,” and highlighted the possibility of increasing imports from the USA while serving national interests.
Planning Adviser Dr Wahiduddin Mahmud noted that the US tariff measures could significantly impact the global economy. He stressed efforts to protect the country’s RMG sector, maintaining its competitive edge and boosting productivity to withstand global competition.
Commerce Adviser Sk. Bashir Uddin mentioned that the meeting resulted in agreements on specific proposals regarding the US tariff issue, with plans to take necessary actions and maintain engagement with the US administration. He acknowledged the presence of tariff and non-tariff barriers and the need to revisit or repeal those hindering trade and commerce.
Energy and Railways Adviser Muhammad Fouzul Kabir Khan described the situation as evolving and emphasized the need for immediate actions and ongoing monitoring to balance expectations between the USA and Bangladesh.
Prominent businessman Tapan Chowdhury highlighted emerging opportunities in sectors beyond RMG due to the imposition of reciprocal US tariffs, citing potential growth for the Bangladesh pharmaceuticals industry following similar actions on Indian Pharma.
Renowned businessman Syed Nasim Manzur acknowledged government assurances to maintain competitiveness for Bangladeshi industries. He emphasized the importance of a level playing field and concerted efforts to ensure mutually beneficial trade relations with the USA.
Several key figures, including Chief Adviser’s Special Envoy for International Affairs Lutfey Siddiqi, Chief Adviser’s Press Secretary Shafiqul Alam, Bangladesh Bank Governor Ahsan H Mansur, and NBR Chairman Md Abdur Rahman Khan, attended the meeting.