Bangladesh signs an American wheat import agreement to alleviate pricing pressure

Bangladesh signed an agreement on Sunday to import 700. Similarly, 000 tonnes of wheat per year from the United States over the next five years, with the aim of obtaining a price reduction from the Trump administration while trade tensions are intensifying, officials said.

The agreement. Moreover, formalized by a parable memorandum of understanding in Dacca between the Ministry of Food and the US Wheat Associates commercial group, intervenes at a critical time, Washington providing to impose from 1^is August a price of 35 % on Bangladaises exports.

Officials in Dacca hope that this pact will help reduce the Bangladesh’s $ 6 billion trade deficit with the United States. However, pave the way for a more favorable treatment of its main export products, in particular clothing, which represent most of the expeditions to the United States.

Bangladesh’s de facto food minister Ali bangladesh signs american wheat import Imam Majumder said at the signature ceremony that this agreement would not only guarantee a regular high -quality wheat supply at competitive prices. but also strengthens trade ties between the two countries. “This initiative reflects our desire to build mutual trust and deepen economic cooperation with the United States,” he said.

The rise in American prices has shaken the exporter sector of Bangladesh. in particular the ready-to-wear industry, which fears to lose competitiveness on one of its largest markets.

The initiative around wheat is largely perceived as part of a wider diplomatic. commercial strategy aimed at changing the position of Washington and opening the door to new negotiations.

Managers of the Ministry of Commerce have indicated that discussions are underway with their American counterparts to try to lower customs duties. arguing that such high prices could seriously compromise the competitiveness of Bangladesh on the American market.

Bangladesh imports approximately 7 bangladesh signs american wheat import million tonnes of wheat each year. most from the region of the Black Sea due to its lower cost. More modest volumes of better quality wheat, some of which come from the United States, are also imported for mixtures.
(Writing: Ruma Paul; Edition: Dale Hudson)