US State Department Under-secretary designate Tom Shannon has said Bangladesh can be a leading economy in South Asia, serving as a manufacturing powerhouse and hub for the movement of goods and people in South and South East Asia.
“United States is an enthusiastic supporter of implementing the vision which we are helping to realise through our Indo-Pacific Economic Initiative,” he said.
Shannon was speaking at a seminar on Bangladesh-US relationship at the Bangladesh Institute of International and Strategic Studies (BIISS) yesterday.
He said that in recent months Bangladesh and India signed merchant shipping agreement which would reduce shipment time and cost while the BBIN initiative would help the countries in moving people and goods without any hindrance.
“We are committed to economic connectivity because it is a key to regional prosperity, stability and opportunity for the American economy,” he said.
Many economists predict that by the year 2050, Asia will contribute 50% of the global GDP, he said.
“It is clear that we are at the beginning of Indo-Pacific century and US as a Pacific nation will play its part in the story.”
He said the United States would continue to drive Bangladesh’s economic growth as it is one of Bangladesh’s largest foreign investors and the two-way trade has grown steadily to more than $6bn.