US Trade Deal to Boost Foreign Investment

Foreign Minister Dr. Khalilur Rahman has said that maintaining diversified diplomatic relations and strategic balance remains a key objective of Bangladesh’s current foreign policy. He added that the trade agreement with the United States will also play a role in attracting foreign investment.

He said, “On one hand, we are deepening relations with traditional partners such as the United States, the European Union, the United Kingdom, Japan, South Korea, China, the Middle East, Canada, and Australia. On the other hand, we are creating new areas of cooperation with emerging economies in ASEAN member states, East and Central Asia, Africa, and Latin America.”

He made the remarks on Wednesday in Parliament while responding to various questions.

In response to a written question from Netrokona-3 MP Rafiqul Islam Hilali, the minister said that rapidly changing regional and global conditions, conflicts in the Middle East and other regions, restructuring of the international trade system, energy and food security, technological competition, climate change, and migration are all deeply influencing the direction of international relations. In this context, he said foreign policy is being guided by the continuation of the independent foreign policy laid out by martyred President Ziaur Rahman and the ‘Bangladesh First’ vision of Prime Minister Tarique Rahman, with national interest as the top priority rather than reliance on any single region or power bloc.

In response to a question from Gazipur-5 MP AKM Fazlul Haque Milon, the minister said the recent Agreement on Reciprocal Trade (ART) with the United States ensures zero-tariff access for ready-made garments produced using U.S. cotton. He said the agreement will play a positive role in attracting foreign investment, strengthening energy security, and enhancing the country’s position in global supply chains.

The Foreign Minister said expanding export markets, diversifying exports, attracting international investment, and achieving employment-oriented economic growth are among the government’s key priorities. He said economic diplomacy is being given special importance to drive economic momentum. The Ministry of Foreign Affairs, Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA), and the Ministry of Commerce are working in coordination toward this goal.

He added that initiatives are underway to sign Preferential Trade Agreements (PTAs), Free Trade Agreements (FTAs), and Comprehensive Economic Partnership Agreements (CEPAs) with various countries to expand markets and secure tariff benefits. He said discussions on a CEPA with the United Arab Emirates have begun, while efforts are ongoing to finalize free trade agreements with Malaysia, Singapore, and Thailand. At the same time, Dhaka is continuing efforts to expand trade engagement with the GCC, Mercosur, and other regional economic platforms.

Khalilur Rahman also noted that diplomatic efforts are creating new opportunities in agricultural and non-traditional export sectors. He said Bangladesh has recently gained access to export potatoes to Vietnam, while efforts are underway to export mangoes to Malaysia.

In response to a question from Chattogram-15 MP Shahjahan Chowdhury, the minister said a recent UNHCR report shows that the number of Rohingya refugees and forcibly displaced people in Bangladesh currently stands at 1,189,213.

He outlined ongoing efforts for Rohingya repatriation, saying discussions are continuing with all parties in light of the changing situation in Rakhine State.

He also said that both the foreign minister of Myanmar and the head of the Arakan Army congratulated the Prime Minister after the current government took office.

In response to a question from Feni-2 MP Zainal Abedin, Khalilur Rahman said initiatives have been taken to strengthen, modernize, and make Bangladesh’s diplomatic infrastructure more cost-effective. He said Bangladesh currently operates chancery functions in 20 missions across 17 countries in its own government-owned buildings, with four more projects ongoing. The remaining missions operate in rented facilities, costing the government around Tk 10 billion annually.

He said establishing Bangladesh’s own diplomatic infrastructure is a long-term investment. He added that construction of chancery buildings and state-owned diplomatic complexes is being implemented in various countries, which will reduce long-term government expenditure while enhancing Bangladesh’s prestige and diplomatic effectiveness.