The Bangladesh government has approved the import of 220,000 metric tonnes of wheat from the United States under a government-to-government (G2G) agreement, in a strategic move to reduce the country’s growing trade deficit with Washington.
The purchase will cost approximately Tk 817.57 crore, equivalent to around $302.75 per tonne.
The in-principle endorsement came during a meeting of the Advisers Council Committee on Economic Affairs held on Wednesday at the secretariat.
According to official sources, the import will be conducted under Section 68(1) of the Public Procurement Act 2006 and Rule 76(2) of the Public Procurement Rules 2008.
The wheat will be sourced through Agrocorp International Private Limited, an authorized agency of the U.S. Wheat Associates.
A key reason for opting for US wheat is the ongoing trade negotiation effort aimed at easing the proposed retaliatory tariffs on Bangladeshi exports.
In a letter dated June 30, the commerce secretary warned that if the US imposes an additional 37% tariff on top of the existing 15.5% on Bangladeshi goods, it would severely impact exports. Increasing imports from the US is seen as a countermeasure to balance trade relations.
Bangladesh exports goods worth over $8 billion to America, while it imports over $2 billion worth goods and services from the North American country, with around $6 billion trade deficit with it.
Addressing journalists after the meeting, Finance Advisor Dr. Salehuddin Ahmed said, “We are trying to diversify our import sources. There have been uncertainties with the Russian and Ukrainian blocs in the past. US wheat is of good quality, and we’re actively negotiating broader trade terms.”
When asked about the higher cost of US wheat, Dr. Ahmed acknowledged, “Yes, it is slightly more expensive, but it comes with added benefits—such as better quality and higher protein content. Not significantly more, but enough to justify the decision.”
With only eight days left before the proposed US tariffs take effect on August 1, the advisor confirmed that Bangladesh’s Commerce Advisor will travel to Washington, DC, before the deadline to negotiate.
Asked whether Bangladesh will hire lobbyists to influence US policy, Dr. Ahmed ruled out the possibility. “This is not a long-term negotiation that requires a lobbyist. What needs to be done now must happen quickly. Lobbyists wouldn’t even get near the office in time.”
He added that Bangladesh currently enjoys a positive image in the US, citing recent debt repayments to American companies such as Chevron, Excelerate Energy, and MetLife. “The US Chamber of Commerce has sent us a letter expressing their positive attitude towards Bangladesh,” Dr. Ahmed noted.
This wheat import deal marks a significant step in strengthening trade ties with the United States, while ensuring food security and strategic economic positioning in the global market.