The US is seeking to boost bilateral business with Bangladesh over the next three years. The value of two-way trade is over $7.47 billion. Trade is projected to be even higher in future between the two countries in the days to come.

The US is the single largest export destination for Bangladesh, the bulk of which is covered by apparel products. Apparel is 16 per cent of Bangladesh’s exports to the United States. The country’s export earnings are 2.3 per cent higher than last year. The main export are woven garments followed by knitwear products and home textiles and caps. The US procures over 25 per cent of Bangladesh’s woven products, nine per cent of knitwear and 18 per cent of home textile products.

Until October, Bangladesh’s apparel exports to the US rose 31 per cent over last year. During July to October, earnings from wovens rose 24 per cent. Earnings from knitwear exports saw a gain of eight per cent. This gain can be attributed to two major factors: global shift in sourcing strategy, which is commonly known as China plus sourcing strategy, and increasing work orders due the ongoing trade war between the US and China.