UNB, Chittagong :
US Ambassador to Bangladesh Marcia Bernicat on Tuesday laid emphasis on a transparent business environment and to help ensure a level playing field for U.S. businesses in Bangladesh which will ultimately help all businesses.
“I want to work with all of you, our partners in industry, to help promote a level playing field and to help ensure the best US products and services contribute to Bangladesh’s impressive economic growth story,” she said.
Ambassador Bernicat was addressing at a function at Chittagong Chamber of Commerce and Industry (CCCI). CCCI President Mahbhubul Alam also spoke. The United States is the top single-country export destination for Bangladeshi products and the bilateral trade in goods in 2016 reached $6.8 billion which the US views as impressive. “That’s almost double what our trade was just 10 years ago. However, our two-way trade relationship remains heavily in favor of
Bangladesh,” said Ambassador Bernicat. While the United States imported $5.9 billion of products from Bangladesh in 2016, the US exported just $895 million worth of goods the same year. Bernicat said during her nearly three years in Bangladesh, one of her top priorities has been to advocate and fight for U.S. companies and to help counter unfair trade barriers. “U.S. business does well here, but it can do so much better.
Unfair trade barriers manifest themselves in a variety of ways here,” she said mentioning high tariffs; unnecessary or arbitrary regulations; biased tendering processes; cumbersome customs procedures; unreasonable tax audits; corruption; and sanitary and phytosanitary requirements that lack scientific basis. The US envoy said these barriers affect not only U.S. businesses but hinder Bangladesh’s own economic growth. She said promoting proper enforcement of labor rights and worker safety is not only the right thing to do – it is the foundation for free and fair trade.
US Ambassador to Bangladesh Marcia Bernicat on Tuesday laid emphasis on a transparent business environment and to help ensure a level playing field for U.S. businesses in Bangladesh which will ultimately help all businesses.
“I want to work with all of you, our partners in industry, to help promote a level playing field and to help ensure the best US products and services contribute to Bangladesh’s impressive economic growth story,” she said.
Ambassador Bernicat was addressing at a function at Chittagong Chamber of Commerce and Industry (CCCI). CCCI President Mahbhubul Alam also spoke. The United States is the top single-country export destination for Bangladeshi products and the bilateral trade in goods in 2016 reached $6.8 billion which the US views as impressive. “That’s almost double what our trade was just 10 years ago. However, our two-way trade relationship remains heavily in favor of
Bangladesh,” said Ambassador Bernicat. While the United States imported $5.9 billion of products from Bangladesh in 2016, the US exported just $895 million worth of goods the same year. Bernicat said during her nearly three years in Bangladesh, one of her top priorities has been to advocate and fight for U.S. companies and to help counter unfair trade barriers. “U.S. business does well here, but it can do so much better.
Unfair trade barriers manifest themselves in a variety of ways here,” she said mentioning high tariffs; unnecessary or arbitrary regulations; biased tendering processes; cumbersome customs procedures; unreasonable tax audits; corruption; and sanitary and phytosanitary requirements that lack scientific basis. The US envoy said these barriers affect not only U.S. businesses but hinder Bangladesh’s own economic growth. She said promoting proper enforcement of labor rights and worker safety is not only the right thing to do – it is the foundation for free and fair trade.
