CA hails ‘Landmark’ US trade deal
Staff Reporter :
Chief Adviser Professor Muhammad Yunus on Friday congratulated Bangladesh’s trade negotiation team for securing what he described as a “landmark trade agreement” with the United States – calling it a significant diplomatic and economic milestone for the country.
“We proudly commend the Bangladesh tariff negotiation team for achieving a landmark trade deal with the United States – a decisive diplomatic success,” Yunus said in a statement issued by his press wing, following the conclusion of months-long negotiations.
Finalised after intensive discussions that began in February, the agreement reduces US tariffs on key Bangladeshi exports to 20 percent – 17 percentage points lower than initially projected. According to Professor Yunus, the favourable outcome reflects the team’s “remarkable strategic acumen and steadfast commitment to protecting and advancing Bangladesh’s economic interests.”
Describing the negotiations as “highly complex,” Yunus noted that the process involved not only economic considerations such as tariff and non-tariff barriers, but also national security concerns raised by the US side. “The team worked tirelessly and navigated a challenging process that required clarity, resilience, and determination,” he remarked.
The deal is expected to reinforce Bangladesh’s competitive edge in global markets and facilitate improved access to the United States – the world’s largest consumer economy and Bangladesh’s largest single export destination. Yunus characterised the agreement as a “turning point” in the country’s economic transformation journey.
“This achievement not only signals Bangladesh’s growing stature on the international stage but also lays the groundwork for expanded opportunities, accelerated economic growth, and sustained prosperity,” he added.
Terming the deal a symbol of national resilience and forward-thinking leadership, the Chief Adviser concluded: “Bangladesh’s future is undeniably bright. Today’s success stands as a powerful testament to our strategic resolve and bold economic vision.”
The agreement is expected to significantly benefit key sectors including garments, pharmaceuticals, and ICT services. While the implementation timeline has yet to be disclosed, officials anticipate that the tariff reductions will come into effect within the next fiscal quarter.