F.P. Report
WASHINGTON: Ambassador Marcia Bernicat, Senior Official for Economic Growth, Energy, and the Environment and Acting Assistant Secretary Bureau of Oceans and International Environmental and Scientific Affairs gave remarks on U.S-Bangladesh Business Council, Tuesday.
While expressing his views, Bernicat stated that the United States is proud of the partnership that we have built with the Bangladeshi people since Sheikh Mujibur Rahman led a proud and determined people to achieve their independence 50 years ago.
President Biden and Secretary Blinken are committed to strengthening our relationship as we address some of the most pressing regional and global challenges together, including the Rohingya humanitarian crisis and our global challenge to tackle climate change, the diplomat remarked.
Regarding the economic opportunities, he added that facing long odds of success at independence, Bangladesh came to use wisely its robust collection of NGOs and to nurture a market economy to develop a world class textile industry the second large exporter of readymade garments in the world that has fueled and nation as it empowered its women by providing transformational educational and economic opportunity.
These remarkable women and the sector they built played a leading role in driving Bangladesh’s dynamic economic growth, which will soon result in the country’s remarkable graduation from the least developed country status, the diplomat mentioned.
He further mentioned that Bangladesh’s impressive economic sector provides a solid platform on which to expand and deepen our relationship.
Recognizing this, last September, our two countries held a High-Level Consultation on Economic Partnership, a first, to lay the groundwork for deeper bilateral cooperation in several key areas, including energy, infrastructure, agriculture, the environment, transportation, and information technologies, the diplomat commented.
The High-Level Consultation was designed to focus on the true source of economic strength in both of our countries our private sector companies, he said.
U.S Ambassador remarked that the Council’s diverse board reflects the impressive potential Bangladesh holds, with U.S. companies representing the key sectors of energy, digital technology, financial services, and agriculture.
On the occasion, he further stated that these benefits include technology and business know-how, knowledge transfers, capital and investment, as well as corporate best practices, such as zero tolerance for corruption and stakeholder inclusion through corporate social responsibility.
The U.S.-Bangladesh Business Council and the American private sector will be invaluable partners to help Bangladesh reach the ambitions laid out in its Bangladesh Vision 2041, including to become a high-income country, the diplomat added.
Furthermore he said that U.S. companies operating in Bangladesh are bringing sustainable best practices and making unique contributions, such as local community economic development and innovative AI-powered flood alerts.
A U.S.-Bangladesh partnership achieved Sheikh Mujibur Rahman’s extraordinary vision by launching Bangladesh into space with the Bangabandhu-1 satellite, diplomat added.
And in response to the COVID-19 pandemic, it was Bangladeshi companies who stepped up to play a critical role in establishing more diverse and secure global supply chains, exporting valuable PPE to the United States.
While expressing hopes for strong bilateral ties, the diplomat added that we fully expect U.S. and Bangladeshi companies to partner in such fields as renewable energy and digital services to continue Bangladesh’s economic ascent.
Adopting the Cotton Trust Protocol and similar sustainability programs will ensure that workers earn a fair wage and enjoy rights protected under the law, while using ethically-sourced materials, the diplomat mentioned.
Regarding technical assistance the ambassador commented that this includes advising on how to reform procurement guidelines, helping to establish an independent power system operator, and providing guidance on Bangladesh’s AI policy to help create an even more successful business environment.
Furthermore, President Biden has emphasized the challenge of climate change, stating that “the United States and the world face a profound climate crisis” and by placing climate change at the center of our foreign policy, diplomacy, and national security, the diplomat commented.
He further remarked that Bangladesh’s leadership in addressing climate change offers the United States – and the world a great partner to tackle this climate crisis.
As president of the Climate Vulnerable Forum and the Vulnerable Twenty Group of Finance Ministers, Bangladesh has a leading voice and can make irreplaceable contributions toward a successful COP26.
The U.S Ambassador added that as a climate vulnerable country, Bangladesh will require significant climate adaptation and resilience, especially in view of its increasingly ambitious climate goals. U.S. companies are well placed to deliver many of the solutions Bangladesh will need to sustainably grow its economy, it added.
