Trade deal with US to boost investment, strengthen energy security: Khalilur tells parliament
Khalilur Rahman said through the recently signed Agreement on Reciprocal Trade (ART) with the United States, Bangladesh had secured duty-free access for ready-made garments produced using American cotton.
Foreign Minister Khalilur Rahman today (17 June) said the reciprocal tariff agreement with the United States will help attract foreign investment, strengthen energy security, and further reinforce Bangladesh's position in global supply chains.
He told parliament this while responding to a question from Gazipur-5 MP AKM Fazlul Haque Milon, who asked whether diplomatic efforts had been intensified to attract new export markets and international investment.
In his reply, the foreign minister highlighted various trade agreements with different countries, expanded business engagement initiatives, and the organisation of international business conferences as part of the government's efforts.
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Khalilur Rahman said through the recently signed Agreement on Reciprocal Trade (ART) with the United States, Bangladesh had secured duty-free access for ready-made garments produced using American cotton.
He expressed hope that the agreement would play a positive role in attracting foreign investment, strengthening energy security, and enhancing Bangladesh's position within global supply chains.
The then interim government signed the agreement with the United States on 9 February, three days before the national parliamentary election.
According to business leaders and experts, the agreement creates obligations for Bangladesh to import various products from the United States, including cotton, energy products, soybeans, wheat and aircraft.
Diversification key to Bangladesh's foreign policy
Meanwhile, responding to another question from Netrakona-3 MP Rafiqul Islam Hilaly today, Khalilur Rahman told parliament that Bangladesh's foreign policy prioritises the diversification of diplomatic relations and the maintenance of strategic balance.
He said Bangladesh is strengthening ties with traditional partners such as the US, EU, UK, Japan, South Korea, China, Middle Eastern countries, Canada and Australia, while expanding cooperation with emerging economies in Asean, East and Central Asia, Africa and Latin America.
He said global shifts, including conflicts, trade realignment, energy and food security concerns, technological competition, climate change and migration, are reshaping international relations, requiring a flexible and interest-driven foreign policy.
The minister emphasized Bangladesh's approach is guided by mutual respect, sovereignty, non-interference and cooperation, aligned with national interest and the "Bangladesh First" vision.
On regional relations, he said Bangladesh is pursuing constructive engagement with India on unresolved issues such as water sharing, border management, connectivity, energy cooperation and trade barriers. Efforts are also ongoing with Myanmar, particularly on resolving the Rohingya crisis.
The minister added that Bangladesh is working to revitalise Saarc and strengthen Bimstec to enhance regional cooperation.
The government is also expanding partnerships in emerging sectors including AI, digital economy, semiconductors, renewable energy, R&D and the blue economy, while identifying new export markets in the Middle East, Africa, East and Central Asia and Latin America, Khalilur said.
"Labour market diversification is also a priority, with efforts to expand skilled worker migration beyond traditional Middle Eastern and European destinations to Japan, South Korea, South America and Eastern Europe," he added.
