Commerce minister meets US ambassador to boost trade and investment

A meeting held on Monday at the FBCCI office in the capital discussed expansion of bilateral trade between the two countries, partnership in the energy sector, and recent policy reforms.

Referring to the floating LNG terminal project, the US ambassador said that if transparency and a competitive environment can be ensured in large infrastructure projects, foreign investors' confidence will increase further. He also said that US companies are interested in working in Bangladesh.

In response, the commerce minister said Bangladesh welcomes US investors. If the ability to deliver the floating LNG terminal quickly can be demonstrated, proposals from US companies will be given importance.

The import policy was also discussed at the meeting. The ambassador praised some positive changes in the new policy but remarked that there is room to make several provisions more business-friendly. The commerce minister said the import policy is being regularly reviewed and reformed in line with market and economic realities.

The minister also raised the issue of abolishing the requirement for local agents of foreign companies in the procurement of strategic equipment. According to him, the opportunity to work directly with manufacturers has increased transparency in the process and reduced the dominance of intermediaries.

Regarding energy cooperation, the US ambassador referred to the contract with international supplier Gunvor as a positive step. The commerce minister said the government is giving the highest priority to national interest in every sector.

The meeting was attended by Industries Ministry Secretary Abdun Naser Khan, Commerce Ministry Joint Secretary Md. Mustafizur Rahman, and US Embassy Economic Chief Angelo Palazzelo.

Both sides expressed hope that commercial relations between Bangladesh and the United States will be further strengthened through such regular discussions.