B Mirror Desk: To lessen the nation’s trade deficit with the United States, efforts are being made to restore preferential market conditions (GSP). In order to boost imports from the US market, a conference with energy industry investors will also be organized.

In answer to inquiries from reporters following a discussion on economic and government procurement matters at the Secretariat on Thursday, Financial Advisor Dr. Salehuddin Ahmed made this statement.

By the way, tomorrow, Saturday, the Financial Advisor will travel to the United States to attend the World Bank and IMF meetings. Following that meeting, he has appointments with exporters, investors, and the US Trade Representative (USTR). In essence, the Trump administration’s placement of 37 percent tariffs on Bangladesh’s exports prompted the interim government to take the initiative to close the trade deficit with the United States. These sessions will be conducted by the Financial Advisor in accordance with that plan.

In reference to lowering the trade imbalance, Dr. Salehuddin stated that it would do so if we imported machinery and LNG from the United States. But we want normal commerce to lower the deficit. The problem of reintroducing GSP is significant for Bangladeshi exports, particularly in the US market. due to the fact that GSP is crucial in the US market.

The nation’s ready-made clothing meets quality criteria, despite labor law and trade union concerns about GSP. In the upcoming three to four months, the advisor stated that he will concentrate on diversifying exports. The advisor thinks that attention will be given to developing commercial relations with the United States.

When asked what proposals will be made at the World Bank and IMF meeting, the finance advisor said that budget support will be sought from donor agencies. In addition, there will be discussions on financing several project issues of the World Bank, Asian Development Bank (ADB), International Monetary Fund (IMF) and OPEC Fund. There may be two agreements with the World Bank and one with the OPEC Fund.

In addition, there are plans to meet with the International Organization for Migration. This organization is working in Cox’s Bazar. And a meeting will be held with the US Treasury regarding the payment of the Rooppur project. Now there is a ban on payment. The advisor also said, outside the World Bank IMF meeting, we will talk to the business council there. It is an organization like our FBCCI. Where the world’s top 70 companies are. We will hear from them about FDR and our economy. At the same time, we will also contact the private investor Atlantic Council.

The government has agreed to buy 11 million liters of rice bran oil and 22 million liters of soybean oil for TCB, according to a meeting of the committee on procurement. Soybean oil costs 165 taka 85 paisa a liter, while rice bran oil costs 161 taka. Soybean oil will cost 365 crore taka, while rice bran oil would cost 177 crore taka. Furthermore, two LNG cargoes will be acquired. This will cost 1137 crore taka.