DHAKA: Bangladesh-US trade relations could see more positive outcomes over the next 30 years and beyond if Bangladesh fulfills its commitments under the Agreement on Reciprocal Trade, US Ambassador to Bangladesh Brent Christensen has said. He made the remarks on Saturday (September 12) at a ceremony marking the 30th anniversary of the American Chamber of Commerce in Bangladesh (AmCham Bangladesh) in the capital.

“Congratulations to the American Chamber of Commerce in Bangladesh on 30 years of advancing US-Bangladesh commercial relations. Over the past 30 years, AmCham Bangladesh has been a reliable partner of the US government, and I am confident that if Bangladesh fulfills its commitments under the Agreement on Reciprocal Trade, we will see even more positive results over the next 30 years and beyond,” the ambassador said.

Current and former AmCham leaders, representatives of member companies, government policymakers, diplomats, business leaders and other distinguished guests attended the event. The programme was organized to commemorate AmCham Bangladesh’s three-decade contribution to strengthening Bangladesh-US economic relations, particularly in trade and investment.

The event began with the national anthems of Bangladesh and the United States, followed by a screening of a commemorative documentary titled “30 Years of Making Possibilities Possible,” produced to mark AmCham Bangladesh’s 30th anniversary.

In his welcome address, AmCham Bangladesh President Syed Mohammad Kamal highlighted the organization’s journey from a vision three decades ago to becoming a strong platform for business, investment and Bangladesh-US economic partnership.

He expressed gratitude to the chamber’s founding members and former leaders for their vision, leadership and contributions to its development. Speaking about AmCham’s future priorities, Kamal emphasized the need for a clear two-year energy roadmap, a more investment-friendly business environment, greater attention to intellectual property rights and cybersecurity, and effective implementation of regulatory reforms.

He also urged the government to make greater use of the global experience, technology, knowledge and capabilities of AmCham and its member companies. At the event, AmCham Bangladesh Vice President and MetLife Bangladesh Chief Executive Officer Ala Uddin Ahmed announced the launch of the “AmCham Excellence Award” to recognize outstanding contributions across various sectors.

DHAKA – LGRD and Cooperatives Minister Dr Abdul Moyeen Khan has expressed hope that the World Bank will further strengthen its support for the country’s sustainable development and improvement of people’s quality of life. He said various government initiatives are underway in important areas such as water supply, sanitation, rural development and addressing the impacts of climate change.

Continued support from development partners is necessary to make these activities more effective and sustainable, he said when World Bank Division Director for Bangladesh and Bhutan Jean Pesme paid a courtesy call on him at his office at the Secretariat today.

Various issues including the World Bank’s support for various ongoing development projects in Bangladesh, water supply and sanitation systems, rural development, climate change and local government sector were discussed.

The minister said the government and development partners need to work in coordination to accelerate and sustain the country’s development activities. He said WB support could play an important role in strengthening the capacity of the local government sector and ensuring quality civic services reach people at their doorsteps.

The minister expressed gratitude for the World Bank’s longstanding support for Bangladesh’s development journey and hoped that the bank would continue its support for the country’s key development initiatives in the future.

During the exchange of views, emphasis was placed on further strengthening the existing cooperation between Bangladesh and the World Bank. LGD Md Shahidul Hassan, senior officials from the ministry and the WB were present at the meeting.

Shibbir Ahmed, Washington DC: Nearly 600,000 jobs in Bangladesh could be at risk if the economic fallout from the ongoing Middle East conflict persists, according to a World Bank assessment. The warning comes as Bangladesh faces rising fuel prices, severe gas shortages, disruptions to fertilizer production and growing pressure on industries and household incomes.

The World Bank’s mid-June assessment, prepared as part of a proposed Contingent Emergency Response Project, said the conflict could significantly weaken Bangladesh’s economic recovery and slow the pace of poverty reduction.

The assessment estimates that the number of people expected to move out of poverty in 2026 could fall from around 1.7 million to about 500,000 because of the conflict. Bangladesh had already been facing rising poverty. The World Bank estimated that the number of poor people increased by about 1.4 million in 2025, as weak job creation, slow growth in labor incomes and persistent inflation reduced the poverty-reducing impact of economic growth.

Energy crisis adds to pressure

The energy sector is among the areas most severely affected. Natural gas accounts for more than half of Bangladesh’s primary energy supply, while domestic gas production has fallen significantly from its 2016 peak. The country also relies heavily on the Middle East for imported energy, sourcing about 60–65% of its crude oil and 55–60% of its LNG from the region.

The conflict has disrupted LNG supplies, with five of Petrobangla’s six LNG supply contracts reportedly placed under force majeure. Spot LNG prices have risen to around $24–$28 per million British thermal units (MMBtu), more than double their previous level.

Higher energy costs are also expected to put additional pressure on inflation. The World Bank assessment said that passing higher energy prices on to consumers could increase inflation by more than 0.5 percentage points, with further effects on food and non-food prices.

Fertilizer production disrupted

Bangladesh’s agriculture sector is also vulnerable to the crisis. Gas shortages have forced five of the country’s six domestic urea fertilizer plants to suspend production, while international urea prices have increased by around 30%. The World Bank warned that fertilizer prices could potentially rise much further if the disruption continues, increasing production costs for farmers and putting additional pressure on food prices.

Smallholder farmers, who represent a significant share of Bangladesh’s population, could be particularly exposed to higher input costs and supply disruptions.

Industries and workers under pressure

The energy crisis is also affecting industrial activity. Factory operating hours, production and new industrial gas connections have reportedly been affected, while some businesses have faced rising operating costs.

The World Bank’s projection of nearly 600,000 jobs at risk reflects the broader economic consequences of higher energy costs, supply disruptions, weaker production and inflation. Economists have also pointed to signs of the crisis already appearing in the labor market, including factory closures, reduced working hours and job losses.

Government finances face additional strain

The crisis could also increase pressure on Bangladesh’s public finances. Higher energy subsidies could substantially increase government expenditure, potentially reducing the fiscal space available for social protection and emergency programs, according to the World Bank assessment.

The World Bank has already approved $1.1 billion in emergency financing for Bangladesh to help protect food security, support vulnerable households and businesses, and address volatility in global fertilizer and fuel markets.

Risk, not a confirmed job-loss figure

The World Bank’s figure of nearly 600,000 should be understood as a projection of potential job losses if the crisis continues, rather than a confirmed number of workers who will definitely lose their jobs.

The final impact will depend on how long the Middle East conflict lasts, global energy and fertilizer prices, supply conditions and Bangladesh’s ability to manage the economic shock. For Bangladesh, however, the warning highlights the vulnerability of an economy already struggling with inflation, weak job creation and limited fiscal space.

Source: World Bank assessment on Bangladesh’s proposed Contingent Emergency Response Project.