Adviser Rizwana urges calm over tariff concerns

Business Report:

Environment, Forest and Climate Change Adviser Syeda Rizwana Hassan has called for restraint over repeated concerns about potential tariff hikes, asking stakeholders not to create unnecessary panic.

Speaking as the chief guest at a seminar titled “Fostering Sustainable Investment” organized by the American Chamber of Commerce in Bangladesh (AmCham) at Hotel Sheraton in Dhaka city on Sunday, she said, “There is no need to create anxiety by repeatedly stating that tariffs will increase from August. The government is taking the necessary steps.”

Recalling past crises in the apparel sector, she added, “After the Rana Plaza collapse, it was said that the RMG sector would be destroyed. Many feared it would collapse. But thanks to joint efforts by the government and businesses, the sector managed to recover. If we work together, we can overcome all obstacles.”

In his concluding remarks, AmCham President Syed Ershad Ahmed stated that retaliatory tariffs are not unique to Bangladesh and he emphasised the importance of dialogue.

“If we can engage in meaningful discussions, some positive outcomes can be achieved. This is not happening only to us-many other countries are facing similar situations. As our capabilities grow, our strength in negotiations will increase,” he said.

He also noted that Bangladesh has raised issues such as importing cotton from the US and the need for customs reform and they have also been acknowledged by the Bangladesh Investment Development Authority (BIDA).