US Ambassador Marcia Bernicat has said they are working for a "transparent" business environment in Bangladesh to help ensure a "level playing field" for American businesses, reports bdnews24.com.
"This will ultimately help all businesses," Bernicat said on Tuesday in Chittagong while addressing the members of the Chittagong Chamber of Commerce and Industry.
The ambassador did not specify what she meant by saying the "level playing field" in Bangladesh, but she said during her nearly three years in Bangladesh, "one of my top priorities has been to advocate and fight for US companies and to help counter unfair trade barriers."
"US business does well here, but it can do so much better."
"Unfair trade barriers manifest themselves in a variety of ways here, including high tariffs; unnecessary or arbitrary regulations; biased tendering processes; cumbersome customs procedures; unreasonable tax audits; corruption; and sanitary and phytosanitary requirements that lack scientific basis."
"These barriers affect not only US businesses but hinder Bangladesh's own economic growth," she said.
The US is the largest investor in Bangladesh. It is also the top single-country export destination for Bangladeshi products and the bilateral trade in goods in 2016 reached $6.8 billion. That's almost double what the trade was just 10 years ago.
However, the two-way trade relationship remains in favour of Bangladesh. While the United States imported $5.9 billion of products from Bangladesh in 2016, they exported just $895 million worth of goods the same year.
Bernicat said the US companies are bringing some of "the best and most innovative technologies" to Bangladesh.
"These US companies contribute significantly to the economic development of Bangladesh and have helped train thousands of Bangladeshi workers to some of the highest international standards," she said while pointing at the prospects of doing even better in a 'level playing field' situation.
An American diplomat in Dhaka told bdnews24.com that Washington raises the issue of 'level playing field' in different forums with Bangladesh particularly in TICFA where the business issues are discussed.
By this, the diplomat, who refused to be quoted, said they want to ensure that countries do not get businesses based on "political consideration".
Bernicat told the Chittagong businesses that she wants to work with all to help "promote a level playing field and to help ensure the best US products and services contribute to Bangladesh's impressive economic growth story."
She cited President Donald Trump's 2017 Trade Policy Agenda which stated that the purpose of the US trade policy will be to expand trade in a way that is "freer and fairer".
"He is especially keen to break down unfair trade barriers in markets that block US exports, in this way ensuring that US workers and businesses - but also all other competitors that abide by international rules and standards - have a fair opportunity to compete for business both in the domestic US market and in other key markets around the world," Bernicat said.
"The goal of the US trade policy agenda is to ensure that more markets are truly open to American goods and services and to enhance, rather than restrict, global trade on a level playing field."
Another priority in Trump's Trade Policy Agenda is enforcing fair labour provisions in existing agreements.
"Promoting proper enforcement of labour rights and worker safety is not only the right thing to do - it is the foundation for free and fair trade," she said, asking Bangladesh to ensure changes to the Bangladesh Labour Act and the EPZ labour law to meet international standards on freedom of association.
"A recent decline in RMG exports to the United States should encourage stakeholders to make urgent progress on labour rights so that US apparel buyers feel more comfortable with the working conditions, both in terms of safety and freedom of association, in Bangladeshi factories," said Bernicat.
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