Trade deal with US not final, scope for revision: Commerce Minister

The bilateral trade agreement signed between Bangladesh and the US is not final; there is room for amendment, addition or subtraction if necessary, Commerce Minister Khandaker Abdul Muktadir has said. He said that some clauses of the agreement may be helpful in strengthening the trade relations between the two countries in the future.

He said these things while talking to reporters after a meeting with US Assistant Secretary of State for South and Central Asian Affairs Paul Kapur at the Commerce Ministry on Wednesday (March 4).

The Commerce Minister said that the bilateral trade volume between the two countries is about $8.5 billion, of which imports are about $2.75 billion. The US is one of the largest trading partners of Bangladesh.

The Minister said that the interests of the two parties are not reflected equally in the agreement. Some clauses are advantageous for one party, while others are for the other. The aim is to ensure a 'win-win' situation through negotiations. He added that the agreement cannot be seen as completely positive or negative right now, and that no agreement is final—there is room for change through future negotiations if necessary.

Regarding the US court ruling on tariffs, he said the situation is still evolving; the government is monitoring the issue. Regarding the concerns of business people regarding visa bonds, he said the matter is being looked into by the Ministry of Foreign Affairs and the government wants business people and investors from both countries to travel and invest easily.

The minister assured that the US is keen to work with the new government. If non-tariff barriers are removed and the necessary conditions are met, the opportunities for investment and development financing from the US will increase further.