Trade deal a joint investment in US-Bangladesh prosperity: US envoy

US Ambassador to Bangladesh Brent T Christensen today (20 May) described the Agreement on Reciprocal Trade (ART) signed in February as a "joint investment" in the prosperity of both Bangladesh and the US, saying it will help build a modern, balanced trade and investment partnership between the two countries.

"The agreement on reciprocal trade, also known as the ART, is a joint investment in both American and Bangladeshi prosperity. This agreement allows for a modern, balanced trade and investment partnership," he said, while addressing the US National Day Reception at the United Convention Centre in Dhaka.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury spoke as the chief guest at the programme.

The ART includes numerous provisions that will benefit most of the people in this room. "It preserves Bangladesh's access to the US market with competitive 19 percent tariffs – down from 37 percent without the agreement – while supporting a level playing field where businesses and workers in both economies can prosper and thrive."

He said just last week, the US and Bangladesh signed a new memorandum of understanding on strategic cooperation in the field of energy – an agreement that enables millions of dollars in energy projects and enhances Bangladesh's energy security, industrial development, and fuel diversification. "The United States remains a reliable partner for Bangladesh's energy needs."

The Ambassador said in Bangladesh, they have worked together to address health security challenges such as the recent measles outbreak and to deliver effective lifesaving assistance, including a measles vaccination campaign. "Our partnership strengthens both our nations and showcases American leadership."

Mentioning that "America First" does not mean America alone, he said during the Revolutionary War, Americans received critical help from France, Spain, and even from Native American groups.

"Today, in the same way, we are pursuing policies that make sense for the American people—just as all of you are pursuing policies that make sense for the people of your nation. And often, we find things that are mutually beneficial. This is the nature of diplomacy."

Citing the recent deal between Boeing and Biman Bangladesh Airlines, Christensen said the deal represents American investment in the modernisation of Bangladesh's civil aviation sector. "Boeing is not just providing planes, but helping Bangladesh develop its pilots, its engineers, and its systems.  Boeing and Biman are investing in the future of Bangladesh."

Ministers, senior political leaders, diplomats stationed in Dhaka, business leaders, senior journalists and civil society members, among others, were present.

On the occasion of 250 years of freedom, the US Embassy here launched 50 red-white-and-blue rickshaws in Gulshan and Banani.  

During America Week, the first week of July, they will travel across Bangladesh with an American Roadshow, featuring a US military band, to celebrate America's Independence in Dhaka, Chattogram, Rajshahi and Sylhet.