US trade deal not to be scrapped, govt seeks negotiated amendments: Dr Zahed

The government is not pursuing the path of scrapping the trade agreement with the United States but is rather moving towards necessary amendments through dialogue and negotiation, Prime Minister's Information and Broadcasting Adviser Dr Zahed Ur Rahman has said.

Speaking at a regular press briefing at the Directorate of Information at the Secretariat on Tuesday, May 12, he said although the agreement allows for cancellation with a 60-day notice, the government is prioritising reconsideration and amendment of the deal's terms.

Bangladesh has been facing a trade deficit with the US, and the agreement has been criticised by experts for favouring US interests. The adviser acknowledged that discussions are ongoing in media and expert circles about the potential risks and limitations of the agreement, and the government is monitoring these.

"Bangladesh did not sign the Trade and Investment Cooperation Agreement. We are not obliged to sign it," Dr Zahed said, clarifying the government's position. He also mentioned, "We want to amend the agreement through bilateral discussions."

Dr Zahed said discussions have already been held at the highest levels of government, and further steps will be determined considering national interests. Bilateral relations, tariff policies, and diplomatic realities must always be considered in international agreements. Abruptly cancelling the agreement could have negative consequences, he noted.

The government wants to identify clauses that are against the country's interests or could create future risks, and will sit for discussions with the US if necessary. The goal is to evaluate all important past agreements to ensure state and public interests, he added.