PM Hasina seeks long-term US ties to build Smart Bangladesh

Washington, May 3 (UNB): Prime Minister Sheikh Hasina on Tuesday said Bangladesh wants the United States as a long-term productive partner for increasing global competitiveness, and expand the export base to become a "developing" country in 2026.

"We shall need support to increase our global competitiveness and expand the export base. I am optimistic that the United States would become our long-term productive partner in this challenging venture through trade, investment, technology transfer, and by creating a smooth and predictable supply chain for mutual benefits," she said.

The prime minister made the appeal while speaking at a business roundtable on "US-Bangladesh Economic Partnership: Shared Vision for Smart Growth" at US Chamber of Commerce here.

US-Bangladesh Business Council organised the event with important US business leaders.

The premier is here on a six-day visit to celebrate the 50 years of the partnership between the World Bank and Bangladesh. She arrived in Washington DC on April 29.

In the roundtable, Hasina also invited the US businesses to invest in Bangladesh's many vibrant and high-potential sectors, such as renewable energy, shipbuilding, automobile, pharmaceuticals, light and heavy machineries, chemical fertilisers, ICT, marine resources, and medical equipment.

She said her government is setting up 100 'Special Economic Zones' (SEZs) and 39 Hi-tech Parks in different parts of the country. With more than 600,000 free-lancing IT professionals, Bangladesh is just the right destination for IT investments. Moreover, access to young, skilled vibrant workforce at a competitive wage will continue to be an added advantage in Bangladesh, she added.

The premier repeated her offer of a dedicated 'Special Economic Zone' solely for the US investors in Bangladesh.

She called on the US business leaders to explore opportunities and invest in Bangladesh. "I also call on you here today to remain and be with us as partners in our journey to a developed, prosperous, and Smart Bangladesh by 2041," she said.

Sheikh Hasina said the United States is a major economic and development partner of Bangladesh. Both countries have intensive engagements in many areas, including trade and investment.

"Our shared aim is to achieve mutual benefit and prosperity for our peoples. This shows in our growing bilateral trade, and people-to-people interaction."

In 2021-2022, Bangladesh exported commodities worth US$ 10.42 billion to the United States, and imported goods worth US$ 2.8 billion.

Stating that Bangladesh is a market of 170 million and its geographical location puts it in the heart of a market of 3 billion, she said, "Since connectivity brings prosperity, we promoted and established connectivity with our neighbours."

"Bangladesh has now emerged as an ideal place for trade and investment in the region, and beyond. An example is Japan's proposal to develop an industrial hub in Bangladesh along the coastal belt."

She mentioned that now the focus of Bangladesh is to promote economic and commercial relations with regional and global partners, including the United States.

She said the physical, legal, and financial infrastructures of Bangladesh are being improved.

"Our efforts to sustain overall growth through investments in infrastructure are visible across the country. Last year, over the large Padma River, we built with our own fund, our longest bridge, now an important feature in regional development," she said.