US companies highly interested in doing business in Bangladesh: Ambassador

US companies are highly interested in operating in Bangladesh, US Ambassador Brent T Christensen told Commerce Minister Khandakar Abdul Muktadir during a meeting on Monday.

To this end, the US envoy called for ensuring a liberal and open competitive opportunities for US businesses in Bangladesh.

The bilateral meeting was held at the FBCCI office in the capital, according to press release from the Commerce Ministry.

The meeting focused on increasing US investment in Bangladesh, ensuring transparency in major infrastructure projects, and further improving the business environment.

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The two sides also discussed in detail the expansion of bilateral trade, energy-sector cooperation, and recent policy reforms.

Referring to the floating LNG terminal (FSRU) project, Ambassador Christensen said maintaining a transparent and competitive environment in major infrastructure initiatives would further strengthen the confidence among foreign investors.

The commerce minister welcomed US investors and said proposals from US companies would be given the highest priority if they could demonstrate an efficient and operational FSRU within the shortest possible timeframe.

He said presenting an effective LNG supply plan within a short timeframe would further strengthen their position.

On import policy, the ambassador said the new policy contained several positive changes that were commendable, although some provisions could be made more business-friendly.

On energy cooperation, Ambassador Brent T Christensen described the agreement with international commodities trading company “Gunvor” as a positive development.

Muktadir highlighted that the import policy was an ongoing process and that necessary reforms were being regularly reviewed and adjusted in line with market conditions and economic realities.

To this end, the minister highlighted the removal of the previous requirement for foreign companies to appoint local agents when importing strategic equipment. He said allowing the foreign companies to deal directly with manufacturers abroad had restored transparency to the process and curbed the malign influence of intermediaries.

Secretary of the Ministry of Industries Abdun Naser Khan, Joint Secretary of the Ministry of Commerce Md Mustafizur Rahman, and US Embassy Economic Chief Angelo Palazzello were present at the meeting.

Both sides expressed optimism that continued discussions of this nature would help further strengthen and advance the commercial relationship between Bangladesh and the United States in the days ahead.