Bangladesh and the United States are expected to sign a bilateral trade agreement in Washington on February 9, aimed at reducing U.S. counter-tariffs on Bangladeshi goods and expanding trade benefits. Commerce Secretary Mahbubur Rahman said the draft agreement has been prepared and submitted for approval. He confirmed that the signing date has been set and that final tariff rates will be determined by that day.

The U.S. initially imposed counter-tariffs of 37 percent and later 35 percent on Bangladeshi products under the Trump administration, but after several rounds of talks, the rate was reduced to 20 percent on July 31 last year. Although no formal agreement was signed then, discussions continued to secure further tariff cuts and duty-free access for garments made with U.S. cotton. To gain these benefits, Bangladesh has pledged to reduce its trade deficit with the U.S. by increasing imports of Boeing aircraft, fuel, LNG, wheat, and cotton.

The Commerce Secretary also noted that Bangladesh is pursuing free trade agreements with other countries, including Japan and South Korea, to address post-LDC graduation challenges and enhance export growth.