Mozena working to bring in US investment

The US ambassador in Dhaka has said he is working to bring US investment in Bangladesh as he believes the relations between the two countries are “progressing from strength to strength”.

Dan Mozena also said US investment in Bangladesh would “eventually benefit US citizens”, says the foreign ministry in a media release.

He made the remarks meeting with Foreign Minister AH Mahmood Ali on Sunday ahead of the annual security dialogue and the TICFA – United States – Bangladesh Trade and Investment Cooperation Forum Agreement – meeting scheduled to be held in Dhaka this month.

Bangladesh is currently the 59th largest goods trading partner of the US with $5.4 billion in total bilateral goods trade during 2012.

A few Bangladesh’s products were enjoying duty-free market access to US until the Obama administration scrapped the facility last year after the Rana Plaza building collapse that killed more than 1100 people, mostly garment workers.

The US also rolled out an action plan after the worst-ever tragedy to ensure factory safety and workers rights.

Mozena acknowledged the government’s efforts in revamping the ready-made clothes sector in the last one year. But he said the success of those initiatives would largely depend “on the positive response from the industry”.

He said Bangladeshi people are “very enterprising” and that he had taken initiatives to take a number of Bangladeshi entrepreneurs to visit US including the Wall Street, added the media release.

The ambassador also briefed the minister about his activities to encourage Bangladeshi students for studying in the US, Bangladeshi-Americans to invest back home and Bangladeshi entrepreneurs to develop software industry.

But he said Washington did not believe in violence in democratic process stressed on “smooth democratic process” in Bangladesh.

Minister Mahmood Ali thanked the ambassador for “redoubling US cooperation” and said Bangladesh now “firmly sits in a development path which ensures steady economic growth and people’s empowerment”.

The minister also appreciated the US Secretary of State for issuing a Bangla New Year message on the eve of Pahela Baishakh on Monday, added the media release.