Symposium on ‘Bangladesh – USA Economic Relations and Investment Prospects – Days Ahead’ held in Washington DC

USA NEWS : To mark the 40 years of the diplomatic relations between Bangladesh and USA, a symposium styled as “Bangladesh – USA Economic Relations and Investment Prospects – Days Ahead” was held April 5 at the Bangabandhu auditorium of Bangladesh Embassy in Washington, DC. A good number of US company representatives, US government departments, think-tanks, and diplomats from other countries attended the event. Ms Linda Droker, Director, South Asia at the US Department of Commerce presented the keynote paper while Ms. Laura Hudson, Manager, International Government Affairs of Chevron Corporation moderated. The panelists included Mr. Edward Gresser (Director, Progressive Economy, a DC based trade research org), Ms. Shamarukh Mohiuddin (Executive Director, US Bangladesh Advisory Council), Mr. Mathew S. Stumpf (Director, Asia Society in DC), Prof Paul Mazzocchi (Emeritus Professor of Chemistry & Biochemistry, University of Maryland), Mr. Stanley Serfling (Consumer Safety Officer, Food Safety Division, US FDA), and Ms. Carolyn L. Brehm (VP, Global Government Relations, Procter & Gamble). Mr. Akramul Qader, Bangladesh Ambassador to USA and State Minister, made the welcome remarks.

 In his remarks referring to the existing friendly relations between the two countries, Ambassador Qader highlighted the different steps taken by the Bangladesh in further improving the investment climate in Bangladesh. He reminded the US companies to take the advantage of investment-friendly policy regime in Bangladesh. Expressing his satisfaction at the growing trade and investment relations between the two countries, he laid stress on the importance of duty-free market access to Bangladesh’s garment items. He urged the US companies to come forward to invest in Bangladesh for the mutual benefits of all the stakeholders.

  In her presentation Ms. Linda Droker focused on the growing commercial relationship between Bangladesh and USA, and highlighted some of the existing challenges and opportunities for the US companies doing business with Bangladesh. She also mentioned about the assistance programs being provided to the US companies to explore markets in the developing countries including Bangladesh.

Mr. Ed Gresser elaborated on the beneficial aspects of Bangladesh-US trade and economic relations, and predicted that the present relationship between the two countries is likely to grow further in the next 10 years time when the two countries will celebrate their 50 years of diplomatic relationship. Ms. Shamaruk Mohiuddin underscored the importance of GSP program and recommended to incorporate in it textile items so that countries like Bangladesh can derive more benefits from such schemes. Mr. Mathew Stumpf of Asia Society urged to undertake steps for more regional trade integration among the South Asian countries. Mr. Stanley Serfling and Prof Paul Mazzocchi spoke on the ongoing cooperation programs from USFDA and joint Institute of Food Safety and Applied Nutrition (JIFSAN) to strengthen capacity building for food safety in Bangladesh. Ms. Carolyn Brehm suggested a revisit of the present tariff structure of consumer products for the benefits of the Bangladeshi consumers. A lively Q&A followed the presentations.

The symposium is a part of the Embassy’s 7-day long program to celebrate the 40^th anniversary of Bangladesh-US diplomatic relations which has created enthusiasm among the captains of industries and policy makers here in Washington DC.