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The Financial Express

US commercial office in Dhaka to boost trade

| Updated: September 03, 2018 10:45:50


US commercial office in Dhaka to boost trade

The USA has decided to open a commercial office in its embassy in Dhaka to help build linkage among businesses of the two countries.

It has such offices in various countries to boost bilateral trade and investment.

"The purpose of commercial office is to help companies of both countries to find business partners," James Golsen, executive director of US Department of Commerce for Asia office.

He was talking to the media after a meeting with commerce minister Tofail Ahmed at Bangladesh secretariat on Thursday.

"Our goal is to bring more US companies to explore opportunities, find partnership and foster trade ties between the two countries," Mr Golsen said.

Lauding Bangladesh's achievements, he said, "We came here because of the economic growth and dynamism we heard about. We're very excited about the opportunities we see on the ground."

The visiting US dignitary led a six-member delegation during the high-profile meeting.

Briefing the press, Mr Ahmed said the USA has started to accord importance to Bangladesh as a business partner.

The opening of a commercial office in Dhaka proves the matter, he added.

"The US-Bangla trade relations are very sound. The USA is the number-one destination of Bangladesh's exports," the minister mentioned.

Last year, Bangladesh exported goods worth $5.98 billion to the USA, he said, adding that the volume of exports is increasing per annum.

"Although we don't enjoy benefit of duty-free and quota-free market access, the USA is our number-one export destination," the minister said.

Bangladesh had been enjoying duty benefits in the USA market on products like ceramics, tobacco and plastic goods.

Their total export volume was $25 million annually before the generalised system of preferences (GSP) was suspended for Dhaka in 2013.

Later, the USA set some conditions to get back the GSP facility.

Despite fulfilling the terms, the USA has not lifted the suspension for Bangladesh, Mr Ahmed said.

"We won't make appeal any more for the restoration of the GSP benefit," he said categorically.

Mr Ahmed invited the delegates to invest in any of the 100 economic zones Bangladesh is developing.

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