Bangladesh Could benefit From Change in the Global Supply Chain: Alice Wells

Alice Wells, Acting Assistant Secretary for South and Central Asia, has said that a change in the global supply chain in the context of Covid-19 could benefit Bangladesh’s economy. She made the remarks at a regional virtual press briefing .Wells called the press conference her farewell media briefing while reviewing U.S. policy across South and Central Asia over the past three years. She is set to retire at the end of May .

Se said the Dhaka-Washington  relationship has made significant progress in the last three years and Bangladesh has achieved the ultimate economic growth in terms of economic progress and human development in the last decade.

The veteran US diplomat praised Dhaka’s role in sheltering the Rohingya who were forcibly displaced from Myanmar, saying “Bangladesh is doing more than just providing shelter to the Rohingya.”

“It (Bangladesh) plays an important role in the Indian Ocean region and our security cooperation has grown closer,” Wells said.

She said, ‘Now is the time for global supply chain diversification. This time can also be an opportunity for Bangladesh. 

Wales’s comments come at a time when Washington is apparently backing the campaign to rebuild the global economy, as seen in the lessons learned from Covid-19, which could reduce risk and diversify the supply chain from outside China, although As in.

The U.S. official said new economic opportunities could be created for Bangladesh, as the Covid-19 epidemic puts pressure on China’s business to reduce risks as well as diversify the global supply chain.

Se added that China is being considered “slightly less at risk” for the current global Covid-19 epidemic in the need for global trade.

In the months leading up to the outbreak of the epidemic in the wake of the virtual trade war with Beijing, the United States called for a change in the global supply chain.

Asked if the US could really help Bangladesh retain the RMG supply chain in response to a recent call from Dhaka, Wells said his government was trying to get protective medical gear like PPE to produce Bangladeshi garment factories.

“We are trying to make a match between Bangladeshi manufacturers and American buyers to deliver important medical supplies, as Bangladeshi factories are returning and looking for new markets,” he said in response to a question from Tanzim Anwar, a diplomatic correspondent at BSS.

Wells acknowledged that the disease has had a devastating effect on Bangladeshi RMG unit supply lines. He said his country would continue to look for all opportunities to enhance trade and investment relations with Dhaka to alleviate the country’s economic woes.

“America is Bangladesh’s largest export market and we are critical to Bangladesh’s economic health.”