No agreement is “end of life”, commerce minister on trade deal with the US

Commerce Minister Khandaker Abdul Muktadir on Wednesday said the recent trade agreement between Bangladesh and the United States is a state level deal and described the US tariff issue as an evolving situation being closely monitored by the government.

He also said that the deal should not be viewed as “wholesale negative or wholesale positive”.

The Commerce Minister said this after US Assistant Secretary of State for South and Central Asian Affairs S Paul Kapur met him at his office at Bangladesh Secretariat today.

State Minister for Commerce Md Shariful Alam, Commerce Secretary Mahbubur Rahman and US Ambassador to Bangladesh Brent T Christensen were present on the occasion.

Rejecting concerns that the agreement is final and irreversible, he said no agreement is “end of life” and that most deals contain self-correcting or review clauses.

“If at any point any provision appears to require addition, removal or modification, there is always scope for further negotiation,” he said, urging stakeholders not to be overly anxious.

The minister underscored that the US remains Bangladesh’s largest single-country trading partner and that bilateral discussions covered a wide range of issues, including trade, investment and cooperation in developing Bangladesh’s digital infrastructure.

Referring to the reciprocal trade agreement between the US and Bangladesh signed on 9 February, he said no separate or special discussion was held on the signing itself during the latest meeting, as it had already been concluded between the two governments.

Responding to queries about US tariff measures, the minister said the matter relates to a provision under the International Emergency Economic Powers Act through which tariffs had been imposed.

He noted that after a higher US court ruled that the specific provision did not justify the imposition of those tariffs, the overall situation became “evolving.”

“We are observing the evolving situation,” Muktadir said, clarifying that his earlier remarks were limited to this legal development in the United States.

Addressing criticism that the agreement may not have adequately protected Bangladesh’s interests, the commerce minister said any bilateral trade deal involves demands and concessions from both sides.

“In any agreement, some clauses may be more favorable to one side, while others benefit the other side. Both parties negotiate to reach a win-win situation,” he said.

He added that the agreement contains many provisions that could help strengthen bilateral trade relations in the coming days.

The minister emphasised that the agreement is a state deal between the governments of Bangladesh and the United States and that no specific adverse elements have so far been identified by the government.

“If anyone finds any problematic aspects, they may raise them with us. We are also reviewing the matter,” he said.

Speaking on concerns raised by business leaders about visa bond requirements, the minister said the issue falls under the jurisdiction of the Ministry of Foreign Affairs.

However, he added that Bangladesh consistently requests that businesspeople and investors from both countries be able to travel easily and without unnecessary obstacles.

“We always urge that our businesspeople and investors, as well as theirs, can move comfortably between the two countries without barriers,” he said.

The minister said US representatives have expressed their willingness to continue working with the new government and to expand cooperation.

According to him, they highlighted certain non-tariff barriers and other obstacles which, if removed, would make Bangladesh more attractive for American investment.

He said addressing these issues could help Bangladesh become eligible for US development finance facilities and create a more conducive environment for increased US investment.

“The United States remains a major commercial partner. There are many important issues between our two countries, including trade, investment and digital infrastructure development. We are working to further strengthen these ties,” Muktadir added.