US tariffs will have no negative impact: BIDA chief

Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun on Sunday said the new tariffs, imposed by the US authorities, will have no negative impact, rather the additional push will help Bangladesh create a better investment environment.

"I don't see any negativity at all. We think significant progress can be brought in around the overall investment climate," he said while responding to a question at a press briefing at the Foreign Service Academy in Dhaka.

He said Bangladesh's competitor countries are in the same boat. "Our travel direction will most likely be the same direction that they will travel to. I am not worried at all."

Referring to a report released by the office of the US Trade Representative (USTR) on the Bangladesh investment situation, Chowdhury Ashik said the USTR suggested some basic reforms in areas of customs duty, corruption and intellectual poverty protection.

He said they are trying to carry out these reforms; in fact they wanted to see a major reform in the investment sector so that doing business in Bangladesh can become easier.

He said they will be able to carry out some reforms based on this momentum that will be good for Bangladesh.

"I personally think the new US tariff is a good signal. We will try to create a better investment climate in Bangladesh in future," he said.

Chief Adviser's Press Secretary Shafiqul Alam and deputy press secretaries Apurba Jahangir and Abul Kalam Azad Majumder were also present at the briefing that highlighted the various aspects of the four-day Bangladesh Investment Summit 2025.