Reaching out to expats in US

Bangladeshis in the US form the newest and fastest growing immigrant community, currently more than three million in number. They contribute greatly to the inward remittance flow of Bangladesh, apart from their skills, talents and, above all, capital infusion. The US is the third major source of remittance for Bangladesh.

Recently a big event titled 'NRB Global Convention & Bangladesh Trade Fair 2018' was held in New York City in a bid to reach out to them and other globally-renowned experts in various fields there. The NRB Global Worldwide Inc., a member of Greater New York Chamber of Commerce, and Muktadhara New York Inc, organised the event. The Rupayan City Uttara was the proud sponsor of the event.

Bangladeshi immigrants from states such as California, Connecticut, Florida, Massachusetts, New Jersey, New York, Pennsylvania, Virginia and Washington, D.C. attended the event. Major American chain stores were also there.

The expatriate Bangladeshis are serving as leaders in their newly-adopted communities, they rank among the best doctors, engineers, pharmacists, educators and business entrepreneurs. The average household income for this community ranges from $80,000 to $150,000, said International Chamber of Commerce, Bangladesh (ICCB) president Mahbubur Rahman in the Global Business, a publication that marked the event.

The Financial Express Editor, who attended the event as the special guest, in his piece on the occasion highlighted the potential of non-resident Bangladeshis in development of Bangladesh's economy. He suggested that the government utilise the knowledge and skills of the NRBs. Besides, their rights need to be protected so that they remit home what they earn on a larger scale. They can be also encouraged to invest in the private sector on a greater scale.

The other pieces in the Global Business highlighted the opportunities of investment in different products like bonds, savings certificates and securities as well as the private sector. The area of outsourcing, readymade garments, the culture and heritage of Bangladesh and weighing the scope of Bangladesh-US free trade deal were also in focus.

The economic relations between Bangladesh and the United States are largely trade-dependent, said Asjadul Kibria in his piece.

Currently the US has BFTA with only 20 countries (as of July 31, 2018). No country has negotiated a BFTA with the US after Mr Trump became president. This makes it amply clear how difficult it will be to sign a BFTA with the US.