The United States briefed Bangladesh on the Indo-Pacific Economic Framework (IPEF) and Dhaka welcomed additional information on supply-chain resilience and decarbonisation pillars of the bloc in the making.
"Both countries share a common vision of a free, open, inclusive, peaceful and secure Indo-Pacific region with shared prosperity for all," says a joint statement issued after a High-Level Economic Consultation (HLEC) between Bangladesh and the US held in Washington on Thursday.
The United States recently launched the IPEF with 12 other countries drawn from the Indo-Pacific region, including India, with the avowed prime objective of closer economic cooperation towards shared prosperity.
Dhaka at the Washington parley sought US technical assistance to sustainably explore its ocean resources and further develop its blue economy in pursuit of environmental protection and economic prosperity, apart from inviting investment in other potential sectors.
On another major topic of consultation, Bangladesh expressed commitment to address issues related to improving workers' rights to freedom of association and collective bargaining in export-processing zones (EPZs) and gradually in other sectors across Bangladesh's economy.
Salman F. Rahman, Adviser to the Prime Minister for Private Industry and Investment, and Jose W. Fernandez, US State Department Under-Secretary for Economic Growth, Energy, and the Environment, co-chaired the daylong meeting held in the State Department.
In response to Bangladesh's request for providing U.S. development finance from DFC for a wide range of infrastructure opportunities, the US side assured of considering the request while emphasizing the need for Bangladesh to implement the ILO roadmap.
Apart from labour issues, the meeting discussed matters related to expansion of bilateral trade and investment, climate change, energy cooperation and infrastructure development.
Lauding the government of Bangladesh for making progress with respect to workers' rights, the United States urged Bangladesh to take further steps to adhere to internationally recognized labour-rights standards, including those developed by Bangladesh for its International Labour Organization (ILO) roadmap.
Bangladesh expressed its commitment to swiftly pass necessary reforms and fully implement the four priority dos laid down in the ILO roadmap, the joint statement says.
Both sides decided that effective implementation and enforcement of international labour standards can help the economies of both the countries recover from the pandemic shocks, broaden economic gains, and unlock further economic potential with other trade partners by creating an attractive business environment.
The United States highlighted Bangladesh's evident potential to be a regional leader in digital trade and noted with appreciation steps taken by Bangladesh to adopt a transparent regulatory environment to secure broad-based foreign investment in its bourgeoning digital-economy sector.
At the meeting Bangladesh invited investment from U.S. firms in Bangladesh, including in the renewable energy, telecommunications, and agricultural and food-processing sectors and in its economic zones.
Bangladesh also welcomed a U.S. concept of a U.S.-Bangladesh Women's Council, which would enhance women's employment, entrepreneurship, and access to educational opportunities in support of a more equitable future.
The two sides decided to coordinate more on implementing existing transparent commercial policies and consistent enforcement of intellectual-property rights in Bangladesh, the joint statement says.
The United States also highlighted Bangladesh's role as a global climate leader and both sides emphasized delivering on and strengthening existing commitments in the lead-up to COP 27.
The US encouraged Bangladesh to consider joining the Global Methane Pledge, urge major emitting countries to do more on climate initiatives, and continue outlining adaptation priorities.
Bangladesh welcomed USAID's climate support, including a review of embankments to assess the feasibility of nature-based solutions to protect critical biodiverse areas from degradation.
The country highlighted that restarting nonstop flights between New York City and Dhaka is a high priority and both sides are committed to taking the next steps to move this forward at the earliest.
The delegation included Md. Shahriar Alam, State Minister for Foreign Affairs, Dr Ahmad Kaikaus, Principal Secretary to the Prime Minister, Shafiul Islam Mohiuddin MP, Begum Shamsun Nahar MP, M Shahidul Islam, Bangladesh Ambassador to the United States, and other senior officials of the government.
Deputy Assistant Secretary for South and Central Asia Ambassador Kelly Keiderling, Assistant US Trade Representative Christopher Wilson, Deputy Under-Secretary for International Affairs, the Department of Labour, Ms. Thea Lee and other senior officials of the relevant US departments were on the host side.
Adviser Salman F. Rahman underscored business- to-business and people-to-people contacts as key elements for enhanced economic cooperation between the two countries.
State Minister for Foreign Affairs Md. Shahriar Alam stated that "continuity of coherent policies under the visionary leadership of Prime Minister Sheikh Hasina is the key to Bangladesh's tremendous socioeconomic progress during past 13 years".
Under-Secretary Jose W. Fernandez applauded Bangladesh's remarkable economic growth and tremendous success in COVID-19 vaccination, it says.
Recognizing the progress made in Bangladesh's labour sector, Under- Secretary Fernandez proposed a regular consultation mechanism to remain engaged on the labour issues.
In the second session on labour issues, ILO Country Director in Bangladesh Tuomo Poutiainen made an independent presentation on the progress Bangladesh made in the labour sector. Workers' Rights Coordinator of AFL-CIO Laura Gutierrez, Solidarity Center Executive Director Shawna Bader-Blau and Bangladesh labour representative Kazi Rahima Akter attended this session.
Foreign ministry said both the sides agreed to hold the 3rd round of consultation in 2023 in Dhaka at a mutually convenient time.
