DHAKA, Jan 25, 2024 (BSS) - Bangladesh has made remarkable strides in the economic sector and there are numerous untapped opportunities for further growth, yet to be realized.

USAID is actively engaged in various crucial areas that are pivotal for economic development and it actively aims to propel the growth trajectory in Bangladesh.

Reed Aeschliman, Mission Director, U.S Agency for International Development (USAID) told today while speaking as guest of honor and speaker at a meeting titled "The Transforming Bangladesh: USAID Partners in Progress" organized by American Chamber of Commerce (AmCham)in Bangladesh in a city hotel, said a press release.

Syed Ershad Ahmed, President of the AmCham delivered a welcome speech while John Fay, Commercial Counselor, U.S. Embassy, the chamber's vice president Syed Mohammad Kamal, its former presidents, executive committee members and members, among others, were present in the program.

The USAID mission director said in Bangladesh, "We are working to foster a sense of ownership and partnership".

"We envision a deeper partnership with the private sector to unlock additional avenues for developmental work in Bangladesh. Our goal is to work hand in hand with the host country," he added.

Reed Aeschliman said, "Our primary mission in Bangladesh is to foster development partnerships and contribute to the trajectory of growth. We are committed to nurturing the private sector and facilitating public-private partnerships."

"Today, I am excited to announce a notable collaboration with a leading local company specializing in dairy production and other agricultural areas. This initiative exemplifies our commitment to reshaping the landscape of developmental efforts by harnessing the potential within Bangladesh," he said.

USAID remains dedicated to building sustainable partnerships, unleashing developmental opportunities, and collectively realizing the full economic potential of Bangladesh, he said.

The AmCham president Syed Ershad Ahmed in his speech said Bangladesh has made a strong base towards economic growth and prosperity over the past decade.

"Our country keeps its position as a rising global force by emphasizing infrastructure development, human capital investment, and economic diversification. Despite challenges, by diversifying trade partners and implementing prudent policies, we have mitigated disruptions and maintained our economic growth," he added.

"Since Bangladesh's independence, the U.S. Government, through USAID, has been working with the people of Bangladesh and our government to expand food security and economic opportunity, improve health and education, promote democratic institutions, provide humanitarian assistance, and protect the environment," he said.

The USAID program in Bangladesh is the largest in Asia, with some of the world's most important food security and health programs. As a long-standing partner, USAID remains committed to supporting our journey to becoming an upper-middle-income country by 2031, he said.

The AmCham president said the agency is also putting an enormous effort into enhancing trade and business-enabling conditions in Bangladesh.

In 2023, USAID invested $35 million in new climate-smart agricultural projects, the United States and Bangladesh cooperated closely to fight the COVID-19 pandemic. The United States is the leading contributor of humanitarian assistance in response to the Rohingya crisis, having provided nearly $2.4 billion since the outbreak of violence in August 2017, of which a significant amount through USAID, Ahmed said.