Commerce minister, US envoy discuss boosting trade and investment
US Ambassador to Bangladesh Brent T. Christensen held a fruitful meeting with Commerce Minister Khandakar Abdul Muktadir today, focusing on increasing US investment in Bangladesh, ensuring transparency in major infrastructure projects and making the trade environment more business-friendly.
The meeting was held at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) office in the capital, said a press release.
The two sides discussed expanding bilateral trade, partnership in the energy sector and recent policy reforms in Bangladesh.
During the meeting, the US Ambassador raised the issue of floating LNG terminal (FSRU) projects and said maintaining a transparent and competitive environment in major infrastructure initiatives would further strengthen confidence among foreign investors.
He said US companies are highly interested in operating in Bangladesh and stressed ensuring fair opportunities for open competition.
In response, Muktadir welcomed US investors and said proposals from US companies would receive the highest priority if they demonstrate their capacity to deliver FSRUs within the shortest possible time.
He said presenting an effective supply plan within a short timeframe would strengthen their position in the bidding process.
On the import policy, the ambassador appreciated several positive changes introduced in the new policy while noting that some provisions could be made more business-friendly.
The import policy is an ongoing process and necessary reforms are being reviewed regularly in line with market conditions and economic realities, the commerce minister said.
The minister also highlighted the government's decision to remove the longstanding requirement for foreign companies to appoint local agents for procuring strategic equipment.
He said the move has created scope for direct dealings with manufacturers, enhancing transparency and curbing the influence of intermediaries.
On energy cooperation, Ambassador Christensen described the agreement with international energy supplier Gunvor Group, one of the world's largest independent energy commodities trading companies, as a positive step.
The commerce minister assured him that the government is working with the protection of national interests as its highest priority and would continue to do so in the future.
Secretary of the Ministry of Industries Abdun Naser Khan, Joint Secretary of the Ministry of Commerce Md Mustafizur Rahman and Economic Chief of the US Embassy Angelo Palazzolo attended the meeting.
Both sides expressed optimism that regular discussions of this nature would help take Bangladesh-US commercial relations to a new level in the days ahead.
