Trade pact with US to strengthen economy FM Khalilur

Foreign Minister Khalilur Rahman on Tuesday said the recently signed reciprocal tariff agreement with the United States is expected to attract foreign investment, strengthen energy security and reinforce Bangladesh’s position in global supply chains.

He made the remarks in Parliament while responding to a question from Gazipur-5 MP AKM Fazlul Haque Milon, who sought details on diplomatic efforts to expand export markets and attract international investment.

In his reply, the foreign minister outlined a series of initiatives, including trade agreements with multiple countries, expanded business engagement, and the hosting of international investment conferences as part of efforts to promote Bangladesh’s economic interests abroad.

Khalilur Rahman said that under the recently concluded Agreement on Reciprocal Trade (ART) with the United States, Bangladesh has secured duty-free access for ready-made garments produced using American cotton.

He expressed hope that the agreement would contribute to increased foreign investment, improved energy security, and a stronger position for Bangladesh in global supply chains.

The agreement was signed on 9 February by the then interim government, three days before the national parliamentary election.

According to business leaders and analysts, the arrangement also creates obligations for Bangladesh to import a range of US products, including cotton, energy products, soybeans, wheat and aircraft.

Responding to another question from Netrakona-3 MP Rafiqul Islam Hilaly, the foreign minister said Bangladesh’s foreign policy places strong emphasis on diversification of diplomatic relations and maintaining strategic balance.

He said Bangladesh is strengthening relations with traditional partners such as the United States, European Union, United Kingdom, Japan, South Korea, China, Middle Eastern countries, Canada and Australia, while also expanding cooperation with emerging economies across ASEAN, East and Central Asia, Africa and Latin America.

The minister noted that global developments — including geopolitical conflicts, trade realignments, energy and food security concerns, technological competition, climate change and migration — are reshaping international relations and require a flexible, interest-driven foreign policy approach.

He said Bangladesh’s diplomatic stance is guided by principles of mutual respect, sovereignty, non-interference and cooperation, in line with national interests and the “Bangladesh First” vision.

On regional relations, Khalilur Rahman said Bangladesh is pursuing constructive engagement with India on unresolved issues, including water-sharing, border management, connectivity, energy cooperation and trade barriers. He added that efforts are also underway with Myanmar to resolve the Rohingya crisis.

He further said Bangladesh is working to revitalise SAARC and strengthen BIMSTEC to enhance regional cooperation.

The government is also expanding partnerships in emerging sectors such as artificial intelligence, the digital economy, semiconductors, renewable energy, research and development, and the blue economy, while actively identifying new export destinations in the Middle East, Africa, East and Central Asia and Latin America.

“Labour market diversification is also a priority, with efforts to expand skilled worker migration beyond traditional Middle Eastern and European destinations to Japan, South Korea, South America and Eastern Europe,” he added.