US-Bangladesh trade deal: No need for concern, says Commerce Minister

Commerce Minister Khandakar Abdul Muktadir commented that there is no need for concern regarding the “United States–Bangladesh Agreement on Reciprocal Trade.”

He said that if any provision of the agreement goes against Bangladesh’s interests, there is scope within the agreement itself to amend it.

The Commerce Minister made these remarks after a meeting with a delegation, led by US Assistant Trade Representative for South and Central Asia Brendan Lynch, at the Secretariat in Dhaka today, Tuesday.

Replying to a query that the agreement is not favorable to Bangladesh’s interests, and it states that Bangladesh can cancel it if it wishes. Will Bangladesh move toward canceling the agreement? The Commerce Minister gave no direct answer.

Khandakar Abdul Muktadir said, “A clear answer to your question is that this government is an elected government of the people. We represent the people of the country. Like all agreements, this agreement also contains a ‘self-correcting element.’”

“If at any time we feel that any clause or clauses of this agreement are not in favour of Bangladesh, there is an opportunity within the agreement to amend them. Therefore, I request you not to be concerned about this,” he added.

The Commerce Minister said that any international agreement is formed through coordination between two parties, considering the interests of both sides to create a ‘win-win’ situation.

He further said, “The current government did not initiate this agreement, but has inherited it as part of state continuity. Agreements made by the state are not like personal agreements that can be cancelled at will. This is a reality, and we want to utilise it to the fullest extent for expanding the country’s trade and investment.”

When asked what other issues were discussed with the US delegation, the Commerce Minister said, “Recently, a probe has been initiated by the United States. Bangladesh has sought clarification on this matter. We have clearly stated that it would have been more positive if such an investigation had not been initiated in the context of the existing agreement.”

Rejecting allegations that Bangladesh engages in dumping products, Khandakar Abdul Muktadir said, “We import most of our goods. The products we export, especially in the ready-made garments sector, are produced under strict international compliance. There is no scope for violating labour laws or engaging in child labour there.”