• Monday, Sep 16, 2019
  • Last Update : 10:27 pm

A window of opportunity

  • Published at 12:00 am July 27th, 2019
Trade war
Photo: BIGSTOCK

The US-China trade war is certainly a great opportunity for Bangladesh

Our economy has been growing at a steady pace, and Bangladesh is well on track in its journey towards middle-income status.

However, we need to make sure that our growth trajectory is not only steady, but also fortified against any potential shocks -- and to do that we need to seize every opportunity we can find.

The US-China trade war is certainly a great opportunity for Bangladesh.

While there is a lot of global uncertainty regarding this particular scenario, what is absolutely certain is the benefits it presents to the Bangladeshi economy -- that is, if we seize this chance.

The on-going trade war between the two economic giants means that there will be a gap in the US’s supply of RMG goods -- a gap that we can fill, but only if we invest wisely and play our cards right.

According to experts, if we can modernize our manufacturing methods with the appropriate levels of automation and efficiency, and then move to negotiate tariff rates, we can greatly benefit from the US-China trade war.

Our RMG sector is already enjoying extended export orders as a result of the trade war without even trying, but the benefits seek to multiply manifold if we take the necessary steps and fill the export void that is left in the wake of the US-China row.

We cannot afford to miss this window of opportunity.

Our economy has come too far for us to rest on our laurels and just expect investment to pour in: We need to be more pro-active now, and the best way we can start is by taking advantage of the US-China trade war.