BD and US to Discuss Various Trade Issues

The government has decided to allow trade unions in factories located within the country's economic zones, a move influenced by international pressure from the United States, the European Union, and the International Labour Organisation (ILO).

The Bangladesh-Thai Chamber of Commerce and Industry (BTCCI) has submitted proposals to the Ministry of Industries to facilitate the relocation of potential industries from Thailand to Bangladesh. BTCCI also requested the elimination of tariff barriers to strengthen economic cooperation between the two countries and promote Bangladesh's key sectors to international markets.

The reported US restrictions on processing payments linked to the Asian Clearing Union (ACU) have raised concerns in Bangladesh's trade landscape. The ACU, which facilitates trade settlements among member countries, including Bangladesh, could face disruption due to the US Office of Foreign Assets Control's (OFAC) advisory.

The Vietnam National Assembly delegation, led by its President, attended a forum in Dhaka aimed at promoting economic, trade, and investment cooperation between Vietnam and Bangladesh. This event, organized in collaboration with business associations and ministries from both countries, facilitated productive discussions and resulted in the signing of three significant Memoranda of Understanding (MoUs).

Russia has granted approval for more than 30 friendly and neutral countries, including Bangladesh, to participate in its currency and derivatives markets. This move allows banks and brokers from these nations to engage in trading activities within Russia's financial markets.

In the fiscal year 2022-23, Bangladesh's bilateral trade with China reached a record high of approximately Tk 2.2 trillion (US$20 billion), despite forex constraints. China accounted for 27.7% of Bangladesh's total import costs, making it the country's largest trading partner for the 15th consecutive year.