FBCCI expresses keenness to bolster trade with US

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has expressed its interest to work with the US to increase exports of non-traditional products.

FBCCI President Mahbubul Alam expressed the willingness during a meeting with Commercial Counselor John Fay of the US Embassy in Dhaka at the FBCCI Icon in Dhaka on Wednesday, said a press release.

BSS adds: FBCCI president said, "The US has always been a great friend of Bangladesh. The year 2022 has been a landmark for us, as both Bangladesh and the USA celebrated 50 years of their diplomatic relationship and proud partnership since 1972. Over the past 50 years, the United States Government has given assistance of over eight billion dollars to improve the lives of Bangladeshis. The country is now the largest recipient of US assistance in Asia."

"Even during the Covid-19 Pandemic, Bangladesh has been one of the top recipients of U.S.-donated coronavirus vaccines worldwide. Thanks to the USA for their humanitarian assistance and cooperation extended to us over the years," he added.

Mahbubul Alam said, "Our major export items are woven garments, knitwear, home textile, footwear, leather, agriculture, and frozen food, etc., which account for most of our exports to the US. As the US is the single largest export destination of Bangladesh, we believe that this is the right time to take the initiative for an FTA between our two countries in order to take advantage of our value and supply chains for enhanced mutual benefit.' FBCCI is hopeful about a more diversified portfolio in our trade relations with the USA in the coming days."

"As the apex trade body of Bangladesh, the FBCCI is ready to launch a platform for networking and business contacts and to arrange meetings and trade fairs for the entrepreneurs of both Bangladesh and the USA to strengthen our trade cooperation between the two countries," Mahbubul Alam added.

John Fay highlighted the significant presence of American investment within Bangladesh.

Emphasizing the fruitful operations of numerous American enterprises in the country, John Fay emphasized the collaborative efforts of the Commerce Office and the Embassy in reinforcing the business ties linking Bangladesh and the USA.

"In addition to acknowledging the noteworthy progress of Bangladesh's development, he further lauded the ongoing partnership between the two nations as a driving force for mutual growth," he added.