US supports 1m American jobs in Indo Pacific in two years
DHAKA, Oct 30, 2020 (BSS) – The United States (US) Department of
Commerce has supported nearly one million American jobs and assisted
over 12,000 US companies active in Indo pacific region that includes
Bangladesh since the first Indo-Pacific Business Forum (IPBF) in July
This was revealed during the third annual IPBF, took place
virtually in Hanoi on October 28-29 to promote US’s Indo-Pacific
vision as a free and open region composed of nations that are
independent, strong, and prosperous, US State Department said in a
Fact Sheet today.
According to the factsheet, the US Department of Commerce, in
partnership with other US government agencies, has facilitated $37.6
billion in FDI from the region into the US supporting an estimated
50,000 American jobs, and assisted 4,122 Indo-Pacific clients
considering investments in the US in last two years.
The 3rd IPBF showcased high-impact private-sector investment and
government efforts to support market competition, job growth, and
high-standard economic development for greater prosperity in the
Three US ministers – Secretary of State Michael Pompeo, Secretary
of Commerce Wilbur Ross and Secretary of Energy Dan Brouillette spoke
at the forum, participated by 2,600 business and government leaders
from the US across the Indo-Pacific region.
Fifteen US envoys from across the Indo-Pacific including US
Ambassador to Bangladesh Earl R. Miller also joined the forum.
During the IPBF, they discussed various issues including Energy and
Infrastructure, Digital Economy, Market Connectivity, Health and
Economic Recovery from the COVID-19 pandemic, US-Indo-Pacific
Partnerships and Commercial Opportunities and Women’s Economic
The US officials and business executives highlighted a range of
commercial deals and new initiatives that included a MoU between USAID
and a consortium of US retail, apparel, and footwear companies and
industry associations to help hard-hit supply-chain workers especially
women in Bangladesh, Cambodia, Sri Lanka and Vietnam.
The USAID singed the MoU to pursue much-needed relief to the
predominantly female workers those are in hardship due devastating
impact on global supply-chains, disrupting trade and investment as
well as job cut amid the pandemic.
The USAID has also announced new activities valued at more than 28
million US dollar to advance regional energy markets in South Asia
It will improve access to affordable, secure, reliable, and
sustainable energy through the advancement of expanded, transparent,
and efficient regional energy markets in south Asian nations.
The forum also recalled that the US and Bangladesh have recently
signed an Open Skies agreement to establish a modern, market-driven
civil aviation relationship between the two nations.
It includes unrestricted capacity and frequency of services, open
route rights, a liberal charter regime, and open code-sharing
The factsheet also highlighted The Infrastructure Transaction and
Assistance Network (ITAN) project that directed $587 million in tools
and resources to support priority transactions and capacity building
efforts in partner countries including Bangladesh.
India has received $20 billion of foreign investment this year from
US companies including Google and Amazon while the US and Japan
reaffirmed their shared commitment to establishing a secure, open, and
competitive energy market and strengthening energy security in the
Indo-Pacific region through the Japan-US Strategic Energy Partnership
(JUSEP), said the factsheet.
The State Department said the importance of economic cooperation
and partnership is paramount as all nations strive to recover from the
unprecedented disruption caused by the COVID-19 pandemic.
“As the world’s largest economy and most generous humanitarian
assistance donor, the United States is leading the way in that
recovery effort, both at home and abroad,” read the factsheet.