A three-day US trade show begins Thursday in the city, aiming to help Bangladeshi and American companies do business amid challenging global economic environment, a US-Bangladesh trade group said Tuesday.
Dhaka-based American Chamber of Commerce (AmCham) said that the 18th annual trade show would help strengthen Bangladesh's trade and investment ties with the United States, while enabling Dhaka to stave off the worst global financial crisis in decades.
"Every crisis brings opportunities," AmCham president Syed Ershad Ahmed said about the current global financial crisis.
"If we can ensure rule of law, hassle-free ports, and meet energy needs, Bangladesh will be able to grab opportunities," he told a press conference in the city ahead of the trade show, co-sponsored by AmCham and the US Embassy.
Heather Variava, an economic and political official at the US embassy, is hopeful that Dhaka and Washington would be able to weather the "tough economic situation" the world has faced since the Great Depression of the 1930s.
"Bangladeshi and American people are hard-working, innovative and resilient. There are opportunities. I'm optimistic that the two countries can overcome this crisis," the US official said, responding to a question about what made her confident on Bangladesh's ability to fight off the crisis.
The trade exposition is being organised at a time when the world's major economies have already sunk into recession, threatening to slow down export-reliant poorer nations including Bangladesh.
The US remains the country's biggest trading partner, with exports of knit and woven garments, sea food and leather products constituting the bulk.
In 2008, Bangladesh shipped merchandise valued at $3.74 billion to the US market as against an import of $468 million from the world's largest economy, leaving a trade balance of more than 3.0 billion favouring Dhaka, according to US Census Bureau statistics.
Commerce minister Lt Col (retd.) Muhammad Faruk Khan will open the fair at Sheraton Hotel. US ambassador James F Moriarty and AmCham president Syed Ershad Ahmed will also attend the inaugural function.
More than 90 US companies and enterprises involved in aviation, education, trading, healthcare, information technology and services will showcase their wide-ranging products.
