Businesses leaders warmly welcome the commerce adviser’s team for successful negotiation on the US tariff

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Share A welcome reception programme organised by the Bangladesh Textile Mills Association (BTMA) at Gulshan Club in Dhaka. Representatives from the FBCCI, BGMEA, BKMEA, DCCI, LFMEAB, BGAPMEA, BGBA, BTTLMEA, ICC-Bangladesh, BCI, and other related associations and chambers attended the reception. Speaking at the event, Commerce Adviser Sk Bashir Uddin said they may need to go to the US for negotiations within the next two or three weeks. “Our chief adviser was very careful on the US tariff issue. However, our success came thanks to combated efforts.” The adviser said that “in future, we will have bigger challenges than opportunities as we will graduate from the LDC (least developed country) status. We will lose all preferential benefits after the LDC. So, we have to diversify products and markets to tackle the challenges.” He said, “We export around $8 billion to the US. We can resolve the matter. But we have to think about our other exports worth $42 billion too. LDC will be our next biggest challenge.” National Security Adviser and High Representative to Chief Adviser for Rohingya Khalilur Rahman on Sunday said the 20% tariff imposed by the US on Bangladeshi goods may further come down as the negotiation is underway. “Basically, we worked relentlessly to reduce the tariff from 35%. Finally, we have succeeded in reducing it to 20% At the event, the business community warmly welcomed the government delegation members, who brought success for Bangladesh through a fruitful discussion with the United States Trade Representative (USTR) on the US reciprocal tariffs. BTMA President Showkat Aziz Russell said, “The government used to work relentlessly to succeed in the US negotiation. Finally, we have succeeded thanks to our delegation led by the commerce adviser.” He said, “Now, if we get proper support from our government, we will invest more in our industries and create more jobs.” Showkat also informed that BTMA and BGMEA (Bangladesh Garment Manufacturers and Exporters Association) members invested around $75 billion. BGMEA President Mahmud Hasan Khan said, “We were very concerned when the 35% tariff was announced. However, now it has been reduced to 20%. We are now in a good position compared to our competitors. We have to take advantage.” He added that buyers will have to bear the tariff. Expressing gratitude to the delegation, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) President Mohammad Hatem urged the government to eliminate the hassle at customs. Participating in the discussion, A Matin Chowdhury, former president of BTMA, congratulated the government team that negotiated with US representatives. He said, “It was a very ambitious target to reduce it to 20% percent, and you have achieved it. Share Previous article #

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