Desk report,
Bangladesh has fallen behind in trade talks: Nasim Manzur
Apex Footwear Managing Director Syed Nasim Manjur has commented that Bangladesh has lagged behind in trade talks with the United States, including counter-tariffs. However, he believes that the room for discussion and bargaining is not over yet.
Bangladesh has fallen behind in trade talks: Nasim Manzur
Prominent businessman Syed Nasim Manjur said this at a roundtable discussion titled ‘US Counter-Tariffs: Which Way Should Bangladesh Go’ on Sunday. Prothom Alo organized the roundtable at a local hotel. Prominent economists, businessmen, and researchers from the country participated. Nasim Manjur said, ‘We export shoes and accessories to the United States. The United States is the single largest market for these products. We export about $400 million worth of products there every year.’ Nasim Manjur also said, ‘More importantly, the growth there is much higher. What was $280 million a year ago has now become about $400 million. Such growth is not known to exist in any other market in the world.’
Regarding the US market, Nasim Manjur said, ‘The growth in the European market has slowed down, but it has not slowed down in the US. Sometimes I feel very sad when we are told to find new markets. But how can we leave the world’s largest consumer goods market and get new markets overnight—it is not possible.’
Regarding China, Nasim Manjur said, some production is moving away from China. No matter how much the US reduces or increases tariffs on Chinese products, there will be no such labor-intensive industries in China. Because China itself does not want it. There was a possibility for Bangladesh to benefit from this industrial transfer, and it still is; but there has been no such environment in Bangladesh in the last three to six months.
Nasim Manjur also talked about the country’s export-oriented industries. He said, ‘Many buyers have postponed their purchase orders after placing them. They now want to work slowly. They are even asking, “If Trump’s new counter-tariff is imposed, how much of it will you (Bangladeshi exporters) be able to bear?” But the thing is, Bangladeshi exporters operate at very low profit margins. In this reality, we do not have the capacity to bear a 35 or 32 percent tariff share.”
In this context, according to Nasim Manzur, it will not be possible to maintain the continuity of exports by ignoring the US market. Because sourcing products in the global market is done keeping the US market in mind.
Regarding what Bangladesh should do in this reality, Nasim Manzur said, we have to use the best of what Bangladesh has. He added, “There are experienced trade experts in the country. We can take their opinions. I am disappointed to hear that trade experts like Salim Raihan are not being utilized. India, Indonesia, Pakistan—all are utilizing their own experts.” His question is, “Why should we lag behind. We can move forward by taking the opinions of trade experts, hiring lobbyists, and increasing communication with those who are close to us in the US administration. Our diplomatic channels are not working well enough.’
In this situation, Bangladesh should go for structural agreement negotiations. It is true that Bangladesh will not get the whole thing. But something has to be ensured.
