US COMPETITION WITH CHINA, INDIA over BANGLADESH

Bernicat calls it a myth

United States ambassador Marcia Bernicat yesterday described her country’s competition with China and India centring Bangladesh as a myth, saying that Washington, Beijing and New Delhi all want a prosperous, safe and stable country. “First, I would like to dispel a myth.  The United States is not in competition with either India or China here in Bangladesh.  I believe that all India, China, and the United States share the goal of a prosperous, safe, and stable society for Bangladesh,” she said while addressing at a seminar on ‘China, India and the United States in Bangladesh:  Cultivating Competitive Cooperation’, organised by the Independent University, Bangladesh.
“We recognise that helping Bangladesh meet its own ambitious development goals will require the good ideas and resources of more than a single country.  The United States welcomes development and economic assistance from other countries and international organisations,” she added.
“A key issue is ensuring fair and transparent rules, which is my next point”, said the ambassador.
“While the United States welcomes collaboration with other countries, and American companies welcome open competition for opportunities to participate in projects around the globe, there does need to be a business environment with clear, transparent and enforceable rules and regulations,” she said.
American companies need to have confidence that their bids will be considered fairly, that their intellectual property will be respected, and that their partners in the private sector and the government will fulfil their contracts, Bernicat said.
“American companies are very interested in trading with, and investing in, Bangladesh.  When an American company enters a new market, it brings with it a broad range of skills, capital, and technology,” she said.
Bangladesh possesses all of the economic fundamentals necessary to attract foreign investment and to become a regional production hub, the envoy noted.
“Bangladesh successes, however,
would have been even greater had it
been better integrated into the regional economy,” she said.
Mentioning Bangladesh’s goal to become a middle-income country by 2021, the Ambassador said, “Meeting this goal will be a double-edged sword.  As a least-developed country, Bangladesh has a number of preferential trade benefits.  Those benefits will be phased out as Bangladesh reaches middle-income status.”
“Before 2021, improving Bangladesh’s energy, transportation and trade connections to its neighbours will help ensure the country’s economic growth streak can continue beyond 2021,” she said.
“In conclusion, I want reemphasise two points:  first, the United States welcomes international collaboration to help Bangladesh meet its development goals; second, better regional connectivity has the benefit of supporting Bangladesh’s domestic economic development and also increases the country’s attractiveness to American and international investors and traders,” said Bernicat.
“We look forward to continuing to work with Bangladesh and its neighbours to support our mutual goals,” she said.

US COMPETITION WITH CHINA, INDIA over BANGLADESH

Bernicat calls it a myth

United States ambassador Marcia Bernicat yesterday described her countrys competition with China and India centring Bangladesh as a myth, saying that Washington, Beijing and New Delhi all want a prosperous, safe and stable country. First, I would like to dispel a myth. The United States is not in competition with either India or China here in Bangladesh. I believe that all India, China, and the United States share the goal of a prosperous, safe, and stable society for Bangladesh, she said while addressing at a seminar on China, India and the United States in Bangladesh: Cultivating Competitive Cooperation, organised by the Independent University, Bangladesh. We recognise that helping Bangladesh meet its own ambitious development goals will require the good ideas and resources of more than a single country. The United States welcomes development and economic assistance from other countries and international organisations, she added. A key issue is ensuring fair and transparent rules, which is my next point, said the ambassador. While the United States welcomes collaboration with other countries, and American companies welcome open competition for opportunities to participate in projects around the globe, there does need to be a business environment with clear, transparent and enforceable rules and regulations, she said. American companies need to have confidence that their bids will be considered fairly, that their intellectual property will be respected, and that their partners in the private sector and the government will fulfil their contracts, Bernicat said. American companies are very interested in trading with, and investing in, Bangladesh. When an American company enters a new market, it brings with it a broad range of skills, capital, and technology, she said. Bangladesh possesses all of the economic fundamentals necessary to attract foreign investment and to become a regional production hub, the envoy noted. Bangladesh successes, however, would have been even greater had it been better integrated into the regional economy, she said. Mentioning Bangladeshs goal to become a middle-income country by 2021, the Ambassador said, Meeting this goal will be a double-edged sword. As a least-developed country, Bangladesh has a number of preferential trade benefits. Those benefits will be phased out as Bangladesh reaches middle-income status. Before 2021, improving Bangladeshs energy, transportation and trade connections to its neighbours will help ensure the countrys economic growth streak can continue beyond 2021, she said. In conclusion, I want reemphasise two points: first, the United States welcomes international collaboration to help Bangladesh meet its development goals; second, better regional connectivity has the benefit of supporting Bangladeshs domestic economic development and also increases the countrys attractiveness to American and international investors and traders, said Bernicat. We look forward to continuing to work with Bangladesh and its neighbours to support our mutual goals, she said.