Bangladesh, US agree to deepen economic cooperation: Titumir
Government remains committed to upholding the trade agreement with the US, he said.
Bangladesh and the United States have agreed to enhance economic cooperation through a structured consultation process while respecting their existing trade agreement, Finance Adviser to the Prime Minister Rashed Al Titumir has said.
Speaking to reporters after a meeting at the Secretariat today (6 May) with a visiting US delegation led by Assistant Trade Representative for South and Central Asia Brendan Lynch, Titumir said the government remains committed to upholding the trade agreement with the US.
"Both sides have reached a consensus on gradually expanding collaboration through dialogue mechanisms."
He said the discussions placed particular emphasis on economic diversification, strengthening production capacity and building technological expertise through joint efforts.
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Titumir noted that Bangladesh is continuing talks with multiple countries to boost its competitiveness in global trade and expand export markets, with ongoing dialogue with the United States forming part of that broader strategy.
"Bangladesh is not in favour of exclusive relationships with any country; we seek inclusive partnerships," he said. "In the current global context, we are enhancing engagement with the United States, Europe, Japan and China."
He added that the pharmaceutical industry had been identified as a promising sector in discussions with the United States, alongside opportunities to leverage American expertise in technology, innovation, agriculture and education to improve domestic productivity.
Titumir also pointed to the need for new mechanisms of economic engagement in light of administrative changes in the United States, particularly structural reforms within its development agency, USAID.
Labour law reforms and improvements in factory standards were also discussed during the meeting, with the government asserting that "visible progress" had been achieved in coordination with local entrepreneurs, which would help strengthen Bangladesh's position in international markets.
Officials said that while adherence to international agreements remains a core principle, the priority now is to make consultation processes within those agreements more effective to safeguard national interests.
Discussions are set to continue on diversifying Bangladesh's export basket beyond its existing key products in the US market, as well as enhancing cooperation in the education and healthcare sectors, with the aim of elevating overall economic ties to a new level, officials added.
