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27 February, 2020 08:48:34 PM

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Trade show begins to promote Bangladesh-US business ties

Independent Online/ UNB
Trade show begins to promote Bangladesh-US business ties

The 27th annual ‘US Trade Show’ began in the city on Thursday, eyeing new business partnerships and advancing new trade and investment deals between the two countries.

Industries Minister Nurul Majid Mahmud Humayun inaugurated the three-day annual trade show at Sonargaon Hotel along with Chargé d' affaires (CDA) at US Embassy in Dhaka JoAnne Wagner, Executive Chairman of Bangladesh Investment Development Authority (BIDA) Md Sirazul Islam and American Chamber of Commerce in Bangladesh President Syed Ershad Ahmed.

The Industries Minister highlighted the ease of doing business in Bangladesh and investment opportunities that Bangladesh offers for foreign investors. 

He said the bilateral trade between the two countries is growing gradually with a decline in trade gap.

The two-way trade between the United States and Bangladesh totalled $9 billion in 2019, more than double the amount of 10 years ago, and US exports to Bangladesh reached $2.3 billion.

Forty-eight exhibitors operating in Bangladesh, including in the energy, agro-mechanization, and food and beverage sectors, and more, are displaying the products and services of over 100 US brands, according to the US Embassy in Dhaka. 

Wagner said the trade show, jointly organised by the AmCham and the US Embassy, comes at an important moment for Bangladesh-US trade and investment ties.

 “US companies bring cutting edge technology, technology transfer, innovation, the highest quality products, integrity in our business practices, support and partnership with Bangladeshi companies, and the power of the private sector to Bangladesh, and that benefits both of our countries – all things we celebrate today at the Trade Show,” she said. 

US companies also take their corporate responsibilities seriously, she added, noting the examples of corporate social responsibility projects supported by numerous US firms.      

“I hope the Trade Show this weekend facilitates new business partnerships and advances new trade and investment deals.  It underscores the importance of the United States and the U.S. private sector’s commitment to doing business in Bangladesh, and bringing responsible business practices and community outreach to the table,” Wagner said.

During the Trade Show, the US Embassy will host four informational seminars. 

On Friday, Embassy officials will discuss the process for various US visas, including business, investor, and work visas, at 4pm followed by a session at 5:15pm on studying in the United States and the free consultative education services provided by the U.S. Embassy through its EducationUSA Advising Centers across Bangladesh.

On Saturday, the US Agency for International Development (USAID) will lead a discussion on “Private Sector Opportunities in Bangladesh” at 3pm and at 5pm officials from the U.S. government and representatives from the private sector will discuss “America’s Indo-Pacific Economic Vision.” 

The Trade Show will conclude with a sales contract signing between US firm DSC Dredge and Bangladeshi firm Deep Diggers, bringing superb American-made dredges to Bangladesh while supporting local jobs and opportunities.

US Embassy Dhaka’s participation in the annual US Trade Show demonstrates U.S. commitment to supporting Bangladesh’s continued economic growth and development and a strong partnership to help ensure a free and open Indo-Pacific region, promoting market-based economics and free, fair, and reciprocal trade principles, said the Embassy.

HM

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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