The Daily Morning Sun Online //

The United States has overtaken India to become Bangladesh’s second-largest trading partner. According to data from the National Board of Revenue, Bangladesh’s total trade with the US reached $12.67 billion in the last fiscal year, whereas trade with India stood at $10.72 billion. With this shift, the US now holds the second spot, while China retains the top position on the list.

This change stems from a rise in imports from the US. Over the past year, imports from the US surged by nearly 43 percent, reaching $3.56 billion. To navigate the impact of US tariff policies, Bangladesh adopted a strategy to increase imports of agricultural products and fuel from the US. Consequently, imports of wheat, soybean seeds, cotton, and liquefied natural gas (LNG) from the country rose sharply. Additionally, the decision to purchase 14 aircraft from the US manufacturer Boeing played a significant role in this trade growth.

On the other hand, trade between India and Bangladesh has experienced a slight slowdown. This situation arose from various regulations and reciprocal measures implemented by both countries over the past year. Bangladesh halted the import of yarn from India via land ports; in response, India withdrew the special facility that allowed Bangladeshi goods to be shipped to third countries via Kolkata airport.

Overall, while a slight gap has emerged in trade between the two neighbors, economic and commercial ties between Dhaka and Washington have strengthened.

Source: Firstpost.