Trade agreement cannot be cancelled at will: commerce minister

Referring to the US-Bangladesh agreement on reciprocal trade, Commerce Minister Khandaker Abdul Muktadir today said a state-level agreement is not like a personal contract that can be cancelled at will.

“It is a reality, and we want to make the best use of it to expand the country’s trade and investment,” he added.

The minister made the remarks after a meeting with Brendan Lynch, assistant US trade representative for South and Central Asia, held at the commerce ministry.

Muktadir said Bangladesh need not worry about the agreement, as international trade deals are structured to benefit all signatories. “Any international agreement is reached through coordination between two parties. It is designed to create a win-win situation by taking into account the interests of both sides,” he noted.

He urged stakeholders to focus on using the agreement in a mutually beneficial manner, pointing out that the current government inherited it from the previous interim administration rather than initiating it.

The minister also said the United States had recently launched an investigation into alleged forced labour and overcapacity across 60 countries, including Bangladesh. Dhaka sought clarification before communicating its position.

“We have clearly conveyed that it would have been more positive if such an investigation had not been initiated under the existing agreement,” he said.

Rejecting claims of overcapacity and dumping, Muktadir stressed that Bangladesh imports most of its goods and that exports—particularly ready-made garments—are produced under strict international compliance, leaving no scope for labour law violations or child labour.

He added that the deal includes provisions for amendments if any clause harms Bangladesh’s interests, describing this as a “self-correcting element” built into the agreement.

Abdur Rahim Khan, secretary (routine charge) of the commerce ministry, was also present at the meeting.