Dhaka urges US to allow preferential market access, DFC funding

Dhaka has urged Washington for preferential market access of Bangladeshi products to US market and funding from its International Development Finance Corporation (DFC) for infrastructural development in Bangladesh.

It simultaneously sought enhanced United States (US) investment and technology transfer in the manufacturing sector of Bangladesh.

Bangladesh made the request during the 2nd High-Level Economic Consultation (HLEC) between the two countries held on Thursday at the US Department of State in Washington DC, according to a press release, issued by Bangladesh mission in Washington, received here on Friday.

Bangladesh prime minister’s private industry and investment adviser Salman F Rahman, MP, and US State Department Under Secretary for Economic Growth, Energy, and the Environment Jose W Fernandez co-chaired the daylong meeting.

The Bangladesh delegation included State Minister for Foreign Affairs Shahriar Alam, Principal Secretary to the Prime Minister Dr Ahmad Kaikaus, Shafiul Islam Mohiuddin, MP; Begum Shamsun Nahar, MP; M Shahidul Islam, Bangladesh Ambassador to the United States, and other senior officials.

US Deputy Assistant Secretary for South and Central Asia Ambassador Kelly Keiderling, Assistant US Trade Representative Christopher Wilson, Deputy Under Secretary for International Affairs, Department of Labour Thea Lee and other senior officials of the relevant US departments were in the US side.

During the meeting, Adviser Rahman underscored business-to-business and people-to-people contacts as the key elements for enhanced economic cooperation between the two countries.

He reiterated Prime Minister Sheikh Hasina’s earlier offer of dedicated Economic Zone for the US investors.

The adviser also encouraged the US IT companies to invest in the Hi-Tech Parks taking advantage of the large pool of freelancers in Bangladesh.

State Minister for Foreign Affairs Md. Shahriar Alam stated that continuity of coherent policies under the visionary leadership of Prime Minister Sheikh Hasina was the key to Bangladesh’s tremendous socioeconomic progress during the past 13 years.

Under Secretary Jose W. Fernandez applauded Bangladesh’s remarkable economic growth and tremendous success in COVID-19 vaccination.

Recognizing the progress made in Bangladesh’s labour sector, Fernandez proposed for a regular consultation mechanism to remain engaged on the labour issues.

In the 2nd session on the Labour issues, ILO Country Director in Bangladesh Tuomo Poutiainen made an independent presentation on the progress Bangladesh made in the labour sector.