Highlights
- Bangladesh may earn an extra $2 billion due to lower tariffs from U.S. Tariff Advantage.
- The additional business could mainly come from shifts in trade from China and India.
- Former World Bank economist Zahid Hussain emphasized economic stability is improving, but long-term sustainability requires proper actions.
Tariff Advantage Could Boost Bangladesh’s Business
Former lead economist of the World Bank’s Dhaka office, Zahid Hussain, has said that Bangladesh has the potential to gain an additional $2 billion in trade. This opportunity arises because of lower tariffs offered by U.S. Tariff Advantage to Bangladesh compared to other countries.
He explained that a significant portion of this extra business could come from products that were previously exported from China and India, as the tariff advantage makes Bangladesh more competitive in the U.S. market.
Remarks at Commemorative Lecture
Zahid Hussain shared these insights while delivering the Moazzem Hossain Commemorative Lecture, organized by the Economic Reporters’ Forum (ERF) in Dhaka.
He noted that Bangladesh’s economy is more stable now compared to last year, pointing to positive signs in several major economic indicators.
“The economy is comparatively stable now compared to last year, as some major indicators are showing positive signs,” Hussain said.
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Stability Alone Is Not Enough
Hussain warned that while current stability is encouraging, it does not guarantee long-term sustainability. He emphasized that proper measures and policies must be implemented to maintain growth and fully benefit from opportunities like the tariff advantage.
“However, stability does not guarantee sustainability if proper actions are not taken,” he added.
Opportunities Ahead
With the lower tariffs, Bangladesh could expand exports to the U.S. market, especially in sectors that compete with China and India. Economists suggest that strategic planning, quality improvements, and investment in production capacity are key to capturing this potential $2 billion business.
Source: The Daily Campus
