No cause for concern over Bangladesh-US trade deal: Commerce minister

Emphasising the use of the trade deal between Bangladesh and the United States for mutual benefit, Commerce Minister Khandaker Abdul Muktadir has said that any international agreement is formed by the coordination of the two parties. In this process, a win-win situation is created by keeping in mind the interests of both parties. Therefore, there is no cause for undue concern about this agreement. 

He made the remarks in response to questions from journalists after a meeting with US Assistant Trade Representative for South and Central Asia Brendan Lynch at the conference room of the Commerce Ministry on Tuesday.

The Commerce Minister stated that the current government is not the initiator of this agreement but has inherited it as part of the state continuity. Any agreement concluded between states is not like a personal agreement that can be cancelled at will. This is a reality and the government wants to utilise it to the maximum extent to expand the country’s trade and investment.

He added that recently an investigation has been initiated by the United States, regarding which Bangladesh has sought an explanation and has conveyed its position and observations in the context of the explanation received. 

The minister said that Bangladesh has clearly stated that it would have been more positive if such an investigation had not been initiated in the context of the existing agreement.

Highlighting the production and trade reality of Bangladesh, he said there is no overcapacity in the country and the allegations that Bangladesh is dumping are also baseless. The country imports most of the products. The ones that Bangladesh exports, especially from the ready-made garment sector, are operated within strict international compliance. There is no scope for violation of labour laws or child labour there, he added.

On the question of cancelling the agreement, the Commerce Minister said this government, as the elected representative of the people, always prioritises the interests of the country. If any clause of an agreement is against the interests of Bangladesh, there is an opportunity to amend it within that agreement. He referred to it as a self-correcting element.

The minister further said there are necessary provisions for amendment or adjustment within the agreement. So there is no reason for additional concern or panic about it.

The meeting discussed various issues of mutual interest, including strengthening Bangladesh-US trade and investment relations. Secretary of the Ministry of Commerce (Routine Responsibilities) Md. Abdur Rahim Khan was present at the time.