A United States trade delegation met leaders of the Chittagong Chamber of Commerce and Industry (CCCI) in Chattogram on 1 July to explore ways to expand bilateral trade and investment, with US officials highlighting efforts to improve the business environment while local business leaders called for greater American investment in Bangladesh’s infrastructure and Free Trade Zone.
The meeting, held at the World Trade Center conference hall, was led by Paul Frost, Commercial Counsellor at the US Embassy in Bangladesh. CCCI President Mohammad Amirul Haque led the chamber delegation. Discussions focused on strengthening business-to-business engagement, easing trade barriers and identifying new investment opportunities, the chamber said in a press release.
Frost said the primary objective of the visit was to promote trade and investment between the United States and Bangladesh by strengthening connections between businesses in the two countries and understanding the expectations of the private sector.
He encouraged Chattogram’s business community to work jointly with the American Chamber of Commerce to gain a better understanding of commercial opportunities in the United States.
Frost said the US government was working with the Government of Bangladesh and the Bangladesh Investment Development Authority (BIDA) to increase trade and investment, adding that ease of doing business remained a key consideration for investors.
Mohammad Amirul Haque said Bangladesh and the United States enjoy longstanding friendly relations and noted that the United States is the largest export destination for Bangladesh’s ready-made garments.
He said the current period offered an opportunity to deepen commercial ties and highlighted prospects for increased US investment in economic corridors, expressways, MRT, port development and related infrastructure.
The CCCI president invited US businesses to invest in infrastructure projects at the Matarbari and Sonadia deep-sea ports and the Bay Terminal in Chattogram. He also urged American investors to take advantage of the Free Trade Zone announced by the current government for the Chattogram region.
According to Amirul Haque, investors in the Free Trade Zone would be able to conduct business with a single trade licence and without procedural complications.
“Bangladesh does not seek charity from anyone. It seeks a strong economic partnership based on mutual respect and mutual interests,” he said, adding that Bangladesh wanted to work with the United States on a win-win basis that would benefit both countries.
Deputy Political and Economic Counsellor David Moo said the United States was working with Bangladesh to improve the business environment and remove trade barriers. He said many American companies were already operating in Bangladesh while others were interested in entering the market, adding that reducing business obstacles would strengthen bilateral commercial links.
Other participants said US products enjoy a strong reputation in Bangladesh, particularly in industrial technology and machinery. They encouraged greater participation by American companies in business summits in Bangladesh and called for increased US investment in the country’s agriculture sector and in cotton and man-made fibre industries under the government’s bonded warehouse scheme.
The speakers also highlighted the need to simplify visa and passport procedures for Bangladeshi students and US citizens of Bangladeshi origin, establish a US embassy consular office in Chattogram, launch direct Dhaka-New York flights and encourage US investment in the proposed Dhaka-Chattogram Expressway.
