Trade services office at US embassy to enhance bilateral trade

John Fay, Commercial Counselor, at U.S. Embassy, Dhaka said opening a Foreign Commercial Service (FCS) office at US Embassy in Dhaka can enhance bilateral trade between US and Bangladesh and will be engaging with government officials to address market access issues and other challenges.

He made the observation while speaking at a seminar on 'Enhancing U.S.-Bangladesh Commercial Cooperation" organized by American Chamber of Commerce (AmCham) in Bangladesh at a city hotel on Thursday.

The AmCham President Syed Ershad Ahmed presided over the event. Vice President, Syed Mohammad Kamal, executive committee members of the chamber, former presidents, foreign dignitaries, business leaders attended the meeting.

John Fay said future prospects of US farms in Bangladesh include-healthcare, ICT, education, energy and trade/commerce infrastructures.

If these sectors could be properly developed, they can become most valuable investments sectors as Bangladesh graduates to a middle income country to enter into the next phase of prosperity.

He said, "I can see a growing, increasingly wealthy Bangladeshi middle class creating opportunities in a wide range of sectors." So it was a right idea of opening an FCS office in Dhaka.

The AmCham president Syed Ershad Ahmed said since gaining independence in 1971, Bangladesh's economy has made impressive strides. Despite global uncertainty, the country has shown consistent growth and development with the private sector playing a crucial role in this progress.

American companies have contributed by bringing in advanced technology, sharing knowledge, introducing best practices, and developing human resources, he said.

However, "We believe trade and investment potential between Bangladesh and the US has not yet been fully realized. To unlock the opportunities, we need to assess where they lie, identify obstacles, learn from other countries, and strategize how to maximize potential for US stakeholders."

We strongly partner with the US Embassy in Dhaka, particularly with the Department of Commerce. We are confident that our bilateral relations will continue to improve through increased business and trade, Syed Ershad said.