Foreign Minister Dr AK Abdul Momen on Thursday said that Bangladesh was not worried about the new US labour policy known as the President Memorandum.
He cited two reasons mainly while replying to a question at the foreign ministry, though he said he had not read the memorandum yet.
"There is no reason to worry about it. But we will be happy with any step taken for the welfare of the workers," he said.
"We do not want our development to be hindered by any factor,” the foreign minister added.
One of the two reasons, the foreign minister mentioned was the style of doing business by the American enterprises and the other is the dynamism of Bangladesh businessmen.
"The garment industry is private and those who buy it are also private. They buy because they get it for cheap and in good quality products on time. Yes, we do have our competitors. Owners of our readymade garments industry are very dynamic," he said.
"I don't know what will happen now. But I have faith in our private sector, and I also believe that in America, things don't stop when the government says so. Because the private sector buys things there. They often ignore the government. They buy because they get things for cheap," he said.
"See how many restrictions have been imposed on China. If you go to any Home Depot in America, everything is made in China. Because the traders are buying it," Dr Momen said, giving an example.
"We expect America to work for the betterment of all our labour sector,” he added.
The United States has rolled out the Presidential Memorandum for advancing workers' rights at home and abroad.
The US administration could impose sanctions, trade penalties and visa restrictions on the violators of labour rights under the new policy titled “Memorandum on Advancing Worker Empowerment, Rights, and High Labour Standards Globally.”
The commercial wing of the Bangladesh embassy in Washington informed the commerce ministry about the policy and said that this could be used as a political tool.
The foreign minister, however, criticized the media for reporting the commercial wing's letter.
"Our problem is lack of patriotism to the country. That is why many secret documents are published by our respected media. It's sad. It does not happen in other countries. I heard it was given to the Ministry of Commerce. They are looking into it. I don't see this issue."
The US ambassador met with the Foreign Secretary Masud Bin Momen on Thursday after returning from his vacation.
Asked about the meeting, the foreign minister said he was briefed about the meeting and it's "routine" in nature.
The US embassy also in a statement said it was a routine meeting.
When asked if ambassadors are prohibited from talking about elections, he said: "We always say that they should do what they are supposed to do in the Vienna Convention and not beyond that. They are very mature diplomats they know what to do."