Bangladesh an attractive business hub, says US envoy

Terming Bangladesh attractive as a trade destination, US Ambassador in Dhaka Peter D Haas said the more US companies explore Bangladesh market, the better the possibility of investment from them.

US investors are very keen on sectors like digital economy, renewable energy, infrastructure, agricultural technology and service sector here, he cited.

He said this at a press conference, hosted by the American Chamber of Commerce in Bangladesh (AmCham) at a city hotel on Tuesday, on the upcoming three-day 'US Trade Show-2022'.

With AmCham president Syed Ershad Ahmed in the chair, AmCham vice-president Syed Mohammad Kamal, executive director Md Shahadat Hossen and member Mirza Shajib Raihan also addressed the event.

The 28th trade show, co-sponsored by the AmCham and the US Embassy, will be held at Pan Pacific Sonargaon Hotel from October 27-29.

The envoy said the trade show is quite significant as both Bangladesh and the USA are celebrating 50 years of their diplomatic relationship.

Citing Bangladesh as the 46th-largest trade partner of the US, he said the US-Bangla bilateral trade reached about $11 billion in 2021 which was just $1.0 billion two decades ago.

The US is the top export destination for Bangladeshi products, Mr Haas said, adding that there is scope to increase the trade volume between the two countries.

Referring to high potential of boosting bilateral trade, he said Bangladesh is the eighth-largest populous country with a homogenous market, making a good place for business.

About US investment prospects in economic zones, Mr Haas said it is great that there is a mindset of attracting US investments here, but it is the individual companies that make such decision.

Meanwhile, AmCham president said this year's trade show is significant because it is the first in-person show in Dhaka since the start of the Covid-19 pandemic.

Started in 1992, this three-day exhibition has emerged as Bangladesh's pristine annual business event which draws thousands of visitors each edition, he added.

Commerce minister Tipu Munshi, the US envoy, and assistant secretary of commerce for global markets and director general of US and Foreign Commercial Service Arun Venkataraman, among others, will attend the inaugural session of the show.

This year, hundreds of US products of 44 exhibitors from home and abroad will be on display at 76 booths during at the event.

The AmCham will host five seminars on the sidelines of the show.

The titles of the seminars are 'Logistics for Regional Connectivity', 'Intellectual Property Rights and Impact on Cross-border Business', 'Education USA', 'Business/Investor Visa', and 'USAID: Support for Private Sector Growth'.

The show and the seminars will remain open to visitors from 10:00 am to 8:00 pm.

The entry fee for the show is Tk 30 per person. However, students in uniform or with identity cards will get free entry.

A raffle draw will also take place on the ticket coupons at the closing of the show where participants will get a chance to win attractive prizes.

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