• Tuesday, Aug 11, 2020
  • Last Update : 01:08 am

US investment in Bangladesh rise 43% in 2018

  • Published at 10:50 pm March 12th, 2019
File photo of U.S. Ambassador to Bangladesh Earl R. Miller Courtesy

US exports to Bangladesh had a banner year in 2018

US Ambassador to Bangladesh Earl R Miller said investment of US companies in Bangladesh reached $2.1 billion in 2018, which was a 43% increase from 2017.

The ambassador also said trade between the United States and Bangladesh had totaled $8.2 billion, which was $4 billion back in 2008.

Speaking at a press conference on Wednesday at the Pan Pacific Sonargaon Hotel, Miller appreciated Bangladesh’s economic development, saying that the upcoming 26th annual US Trade Show comes at an auspicious time for US-Bangladesh trade and investment ties.

 “US exports to Bangladesh had a banner year last year,” he observed.

The US Trade Show will begin tomorrow, slated to run till Saturday.

Commerce Minister Tipu Munshi will inaugurate the 3-day fair jointly organized by the American Chamber of Commerce in Bangladesh (AmCham) and the United States Embassy in Dhaka. It will be held at Dhaka’s Pan Pacific Sonargaon Hotel.

The fair will be organized to give Bangladeshi business community and consumers an idea about US goods and services. 

46 exhibitors, including 74 booths, will be set up during the trade show, while two seminars, one on US education, and the other on business visas, will also be held.

Ambassador Miller also said, “The annual US Trade Show is an opportunity to showcase the high quality products and services US companies provide to Bangladesh and to recognize the contributions of US companies towards Bangladesh’s development.”

During the briefing, he also focused on the potential to increase sales of US goods and services in Bangladesh, which will help Bangladesh to both increase and improve its “already impressive economic development.”

“We are already large suppliers of power turbines, soy beans, dredges, and other heavy machineries. I look forward to supporting more US companies to navigate through the Bangladeshi market.”

Economic Officer of the US Embassy James Town said, “A key priority of our Indo-Pacific Vision for the United States is to accelerate private-sector led economic growth, including through US companies, which have a strong track record of sparking innovation and prosperity and raising labor standards.” 

He also said, “US companies contribute significantly to the economic development of Bangladesh and have helped train thousands of Bangladeshi workers to the highest international standards. Bangladeshi workers at facilities run by US companies can hold their own against workers across the world.”

Among others, Md Nurul Islam, AmCham president, as well as former AnCham Aftabul Islam, were also present at the briefing.

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