DHAKA, Feb 28 (NNN-BSS) — A three-day ‘US Trade Show’ began here showcasing high quality, cutting-edge American products and services to promote US-Bangladesh economic ties.
Forty-eight organizations including energy, agro-mechanization, food and beverage sectors are displaying their products and services at 78 stalls in the 27th annual show, organised by US Embassy here in partnership with American Chamber of Commerce (AmCham) at Pan Pacific Sonargaon Hotel in the capital.
Industries Minister Nurul Majid Mahmud Humayun inaugurated the show as the chief guest while Charge d’ Affairs of the US Embassy in Dhaka JoAnne Wagner, Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Md Sirazul Islam and AmCham President Syed Ershad Ahmed, were present, among others.
The industries minister urged the entrepreneurs of the United States (US) to invest in Bangladesh’s different sectors, including energy, infrastructure, communication, agro-business, ICT, education, tourism and real estate.
“Our government’s industrial policy provides extensive incentives and facilities to attract FDI anywhere in Bangladesh, especially at the Export Processing Zones (EPZs). I’m happy to see the USA at the top of this investors’ list already,” Humayun said.
He said Bangladesh is moving ahead towards the development super highway under the prudent leadership of Prime Minister Sheikh Hasina.
The minister informed that Bangladesh achieved 8.15 per cent GDP growth in the fiscal 2018-19, exceeding all the previous records.
He said there is scope to raise the GDP to double digit, even more, and again this can create great opportunities for domestic as well as international investment.
“There are many multinational companies and banks are operating in the country and they are posting quite an appreciable amount of profit for the owning companies. US investors can avail these opportunities as well,” he added.
The Us embassy’s Charge, d’ Affairs said the show underscores importance of the United States and the US private sector’s commitment to doing business in Bangladesh, as well as bringing responsible business practices.
“US companies bring cutting edge technology, technology transfer, innovation, the highest quality products, integrity in our business practices, support and partnership with Bangladeshi companies, and the power of the private sector to Bangladesh, and that benefits both of our countries – all things we celebrate today at the Trade Show,” she said.
Noting that the USA is the number one export destination for Bangladeshi products, Wagner said the two-way trade between the USA and Bangladesh totalled $9 billion in 2019, more than double the amount of 10 years ago, and US exports to Bangladesh reached $2.3 billion.
“I hope the Trade Show this weekend facilitates new business partnerships and advances new trade and investment deals,” she said.
During the fair, the US companies will highlight the US business community’s contributions to Bangladesh’s impressive economic growth story and demonstrate US commitment to deepening and broadening US-Bangladesh economic and commercial relations.
Apart from that US embassy officials will discuss the process for various US visas, including business, investor, work and student on Friday while the US Agency for International Development (USAID) will lead a discussion on “Private Sector Opportunities in Bangladesh” on Saturday.
The US government officials and private sector representatives will also discuss on “America’s Indo-Pacific Economic Vision” on Saturday afternoon.
The Trade Show will conclude with a sales contract signing between US firm DSC Dredge and Bangladeshi firm Deep Diggers, bringing superb American-made dredges to Bangladesh while supporting local jobs and opportunities, a US embassy press release said.
The US Embassy Dhaka’s participation in the annual US Trade Show demonstrates US commitment to supporting Bangladesh’s continued economic growth and development and a strong partnership to help ensure a free and open Indo-Pacific region, promoting market-based economics and free, fair, and reciprocal trade principles, it added. — NNN-BSS
