Indian, U.S. Businesses Interested in Investing in Bangladesh: Commerce Minister

Indian and U.S. businesses have expressed interest in investing in Bangladesh, Commerce Minister Khandaker Abdul Muktadir said Saturday.

Speaking to reporters after a law and order meeting with officials of Sylhet Metropolitan Police, Muktadir said several Indian businesspeople who recently visited Bangladesh had already invested in the country. He said they were also interested in making Bangladesh-India land ports fully operational.

Indian business representatives told him that disruptions at the land ports were increasing the cost of raw materials, the minister said. They also proposed forming a task force with Bangladeshi businesses to promote infrastructure investment and creating a trust with local businesses to develop digital infrastructure. Muktadir said he welcomed the proposals.

The minister also said a U.S. trade delegation had expressed interest in investing in Bangladesh and offered recommendations on creating a more investment-friendly environment. The government is considering those proposals, he said.

Asked about U.S. tariffs, Muktadir said the reciprocal tariffs imposed by Washington apply to multiple countries, not just Bangladesh. He said Bangladesh currently faces an additional 10% tariff beyond the standard rate, which he described as among the lowest rates.

Bangladesh’s trade deficit currently exceeds $27 billion. Muktadir said the country has imported more than it has exported since independence, adding that a trade imbalance is not unusual globally.

He emphasized the need to increase exports, saying stronger exports would also support higher imports. Bangladesh needs to significantly expand its overall trade volume and bring it more in line with the size of its economy, he said.

Citing Vietnam as an example, Muktadir said the country’s combined imports and exports now total about $800 billion, compared with roughly $600 billion for Bangladesh. He said Bangladesh’s trade volume remains below what would be expected given the size of its economy.

Muktadir also said the government would take a firm position against drugs, online gambling and juvenile gangs in Sylhet.

Earlier, he held an extended meeting with Sylhet Metropolitan Police Commissioner Sarwar Morshed and senior officials to discuss law and order.

The meeting was attended by Sylhet City Corporation Administrator Abdul Qayyum Chowdhury, Sylhet Development Authority Chairman Rezaul Hasan Quayes Lodi, District Commissioner Abdullah Al Mamun, District Council Administrator Abul Kaher Chowdhury and BNP leaders Nasim Hossain and Emdad Hossain Chowdhury. Sylhet-6 lawmaker Emran Ahmed Chowdhury also attended.

Later, the minister visited the proposed site of a new BSCIC industrial city near the Shahporan (Rah.) bypass in South Surma, Sylhet.

The proposed industrial estate will cover 188 acres, of which about 110 acres could be allocated as industrial plots after space for roads and other facilities is excluded. The number of plots will depend on the size of the industries, Muktadir said.

He added that discussions had already taken place with road authorities to upgrade the existing bypass into a six-lane highway. A development project proposal is being prepared for the work. The road is expected to serve as an alternative route to the Dhaka-Sylhet highway.

Earlier in the day, Muktadir inaugurated a display and sales center at Osmani International Airport established by the Bangladesh Small and Cottage Industries Corporation (BSCIC).

He said cottage, micro, small and medium-sized enterprises (CMSMEs) currently contribute about 34% to Bangladesh’s national economy. The government’s target is to raise that contribution to 50%, he said.