Chief Adviser Professor Muhammad Yunus on Monday reaffirmed Bangladesh’s strong commitment to strengthening bilateral relations with the United States, particularly in trade, investment, energy, and development cooperation, according to the Chief Adviser’s verified Facebook page.
“Thank you very much for the support. We are very happy about what has happened. This is key to our economy,” Professor Yunus said during a meeting with Assistant United States Trade Representative (AUSTR) Brendan Lynch at the Chief Adviser’s Office in Tejgaon, Dhaka today.
He was referring to the USTR’s recent decision—announced on July 31—to lower the reciprocal tariff rate on Bangladeshi exports to the US from 35 percent to 20 percent, which he described as a significant milestone in bilateral trade relations.
During the meeting, both sides discussed strategies to reduce the trade imbalance between the two countries and Bangladesh’s plan to expand imports of US agricultural products such as cotton and soybeans.
The discussions also touched on enhanced energy cooperation—including LPG imports from the US—civil aircraft purchases, drug control measures, and the ongoing Rohingya humanitarian crisis.
Professor Yunus noted that Bangladesh is ready to scale up imports from the United States and expressed hope that this would pave the way for further tariff reductions, contributing to a more sustainable and mutually beneficial trade partnership.
Emphasizing continued progress in bilateral engagement, he voiced optimism about the early signing of the draft bilateral trade agreement currently under negotiation.
“Our interests are closer to those of the United States. That makes this process easier and more promising,” he said.
The Chief Adviser also highlighted Bangladesh’s progress on the 11-point Labour Action Plan proposed by the US, underscoring the government’s commitment to upholding international labor standards and fair practices.
Looking ahead, Professor Yunus said the Interim Government expects increased flows of investment and concessional credit in key sectors such as health and education.
“We must make sure the door to US investment in Bangladesh becomes wider,” he said, assuring the visiting USTR team that the Interim Government is determined to improve the climate for foreign direct investment.
AUSTR Brendan Lynch commended Bangladesh’s constructive approach throughout the trade dialogue and welcomed the strengthening partnership between the two nations.
He noted that the process had begun in February when the National Security Adviser met him and pledged to unilaterally reduce the trade gap with the US—a move that, he said, helped smooth negotiations and secure positive outcomes.
“You dispatched a tough negotiating team who worked very hard and effectively,” Lynch told the Chief Adviser, while stressing the importance of timely implementation of the tariff agreements and purchase commitments.
Also present at the meeting were Commerce Adviser Sheikh Bashir Uddin, National Security Adviser Khalilur Rahman, USTR Director for South Asia Emily Ashby, Senior Secretary for SDG Affairs Lamiya Morshed, Commerce Secretary Mahbubur Rahman, and US Chargé d’Affaires Tracey Ann Jacobson.