US should warrant more support amid BD’s growing imports: FinMin
Finance Minister Amir Khosru Mahmud Chowdhury yesterday said Bangladesh should receive increased support from the United States in view of improving bilateral relations and the country’s growing imports from the US.
Speaking after a meeting with representatives of the US Treasury Department in Bangkok on Wednesday, the finance minister said the discussions covered various issues, including debt management and bilateral relations.
He said Bangladesh expected greater US support in recognition of the progress made in ties between the two countries.
“We strongly pressed the point in talks with the US Treasury: if support does not come now, when will it?” he said.
“Given a relationship in which Bangladesh imports so much, and is reducing the balance-of-payments gap as they have asked, this support should come. They agreed, so let us see what happens.”
He also briefed reporters about discussions with the US Treasury on the sidelines of the ongoing annual meetings of the International Monetary Fund and World Bank Group in Bangkok.
“Bangladesh did not receive much from the United States in the past. But, as Bangladesh-US relations have progressed, we are purchasing several aircraft and importing oil, soybeans and various other products and commodities from the US. Therefore, we should receive additional support from them. They agreed on this. Now, let us see,” Amir Khosru said.
The finance minister said the government’s economic policy prioritises reducing dependence on loans and increasing foreign direct investment (FDI) and joint investment.
Highlighting Bangladesh’s substantial imports from the United States, the minister said purchases of aircraft, oil, soybeans and other commodities had implications for bilateral trade as well as Bangladesh’s external balance of payments.
He also held discussions with representatives of the China Export-Import Bank (EXIM Bank) and other US agencies involved in providing assistance.
The finance minister said the government’s economic policy prioritises reducing dependence on loans and increasing foreign direct investment (FDI) and joint investment.
Khosru said he had held extensive discussions with the China EXIM Bank on the issue and expressed hope that Bangladesh could move forward with this approach.
Highlighting Bangladesh’s substantial imports from the United States, the minister said purchases of aircraft, oil, soybeans and other commodities had implications for bilateral trade as well as Bangladesh’s external balance of payments.
US President Donald Trump’s trade war last year affected Bangladesh. To manage the pressure of his 35 percent tariff, Bangladesh began increasing imports of various American products.
The government has signed agreements in two phases to buy 25 aircraft from US manufacturer Boeing.
If support does not come from the US now, when will it come? The assistance we expect should come now,” he said.
