By Admin 
Bangladesh Trade Deal: Bangladesh is also ready to follow India’s footsteps. After India, now Bangladesh is going to sign a trade agreement with America on 9 February. This deal will happen just 72 hours before the elections to be held on February 12. This deal is being done in a secret manner. The terms of the deal have also not been disclosed, due to which it is being criticized a lot.
Why is Bangladesh in such a hurry?
After the India-US trade agreement, Bangladesh is in a hurry to finalize this deal. Under the deal with India, the tariff on import of Indian goods in America has been reduced from 25 percent to 18 percent. Now Bangladesh fears losing market share to India in the American markets.
In fact, Bangladesh’s economy largely depends on readymade garment exports to America, which is about 90 percent of its total American exports. This deal of Bangladesh with America is being done after the imposition of 37 percent tariff in April last year, which was first reduced to 35 percent in July and then to 20 percent in August. It is expected that after this trade deal, the American tariff on Bangladesh will be further reduced to 15 percent.
Why is Bangladesh hiding the deal?
Additionally, the interim government led by Muhammad Yunus signed a formal non-disclosure agreement with the US in mid-2025, stipulating that all tariff and trade related negotiations be kept confidential. No draft of this agreement has been shared with either the public, the Parliament or the main stakeholders of the industry.
According to Prothom Alo, a local newspaper in Bangladesh’s capital Dhaka, in August last year, Commerce Advisor SK Bashir Uddin had said, “There will be nothing in the agreement that is against the interests of the country. It will also be made public after America’s consent.”
Crisis on Bangladesh’s economy!
Bangladesh exports textiles to America on a large scale every year, which is approximately equal to 7 to 8.4 billion dollars. This is about 96 percent of the goods sent from Bangladesh to America. In contrast, Bangladesh buys only about $2 billion worth of goods from America.
Overall, the garment sector in Bangladesh is the backbone of the country’s economy, providing livelihood to 4 to 5 million people and America is its biggest customer in this sector. If Bangladesh’s ‘secret’ deal does not match or better India’s 18 percent deal, American buyers may shift their orders to India, putting millions of Bangladeshi jobs at risk.
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