US not interested in free trade deal with Bangladesh: Adviser

Commerce Adviser Sheikh Bashiruddin has said that the United States is not interested in a free trade agreement with Bangladesh, but highlighted that reducing US tariffs on Bangladeshi products to 19% is a significant achievement.

Speaking at a briefing at the Ministry of Commerce on Tuesday (February 10), Sheikh Bashiruddin said the agreement will grant zero-tariff access on about 90% of Bangladesh’s exports to the US, adding that he is unaware of any other country achieving a similar deal.

He noted that Bangladesh exports over Tk 100,000 crore worth of goods annually to the US, with 86% being ready-made garments.

Under the arrangement, US tariffs on garments made from cotton and synthetic fibers are waived, which he described as a major commercial gain.

The adviser also said the tariff deal could boost exports of garments, textiles, and yarn, while allowing the next elected government the option to withdraw from the agreement if desired.

On domestic prices and inflation ahead of Ramadan, Sheikh Bashiruddin said the government has taken measures to control edible oil prices and keep essential commodities affordable, criticizing some companies for attempting to monopolise the market.

He added that authorities have acted jointly against corrupt actors.