Bangladesh is set to import 700,000 tonnes of wheat annually from the United States over the next five years. This move comes as part of a new agreement aimed at securing a favorable tariff deal from the US government, helping Bangladesh’s exports to the American market.
The government will purchase this ‘high-quality’ wheat at competitive prices, according to a Memorandum of Understanding (MoU) signed today between Bangladesh’s Food Ministry and the US Wheat Association at the ministry’s office.
Food Adviser Ali Imam Majumder, who attended the signing ceremony, highlighted that this agreement will strengthen trust and deepen trade cooperation between the two countries, bringing benefits for both sides.
This deal arrives amid ongoing negotiations with the US administration to lower tariffs on Bangladeshi goods. Currently, a 33 percent tariff will take effect from August 1, slightly reduced from the earlier announced 35 percent by the Trump administration.
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Still, this rate remains significantly higher compared to tariffs on competing countries like Vietnam (20 percent) and Indonesia (19 percent).
Bangladesh’s main exports to the US are apparel products. To help reduce the country’s $6 billion trade deficit, the government is also planning to purchase 14 Boeing aircraft from the United States, Commerce Secretary Mahbubur Rahman revealed last week.
The MoU was signed by Md Abul Hasanath Humayun Kabir, Director General of the Directorate General of Food, and Joseph K Sowers, Regional Vice President of the US Wheat Association, representing their respective countries.
US Ambassador to Bangladesh Tracey Ann Jacobson, Commerce Secretary Mahbubur Rahman, and other senior officials from both sides were present during the signing ceremony
