State Minister for Commerce Ahasanul Islam Titu on Tuesday said that the American e-commerce giant Amazon is keen on establishing a bonded warehouse facility in Bangladesh to bolster its retail operations for both domestic and international markets.

Titu made this announcement during a press conference following a meeting with a delegation from the US-Bangladesh Business Council, held at the commerce ministry office in Dhaka.

As per the National Logistics Policy-2024, the government has included provisions for setting up a central warehouse, and Amazon has shown interest in utilizing this infrastructure to source Bangladeshi goods for its global supply chain, catering to end consumers worldwide.

In its pursuit of business expansion, Amazon is seeking to establish a bonded warehouse to leverage duty-free benefits for the collection and distribution of goods, Titu stated.

The minister noted that the delegation comprised representatives from globally renowned companies such as Meta (parent company of Facebook), Chevron, Coca-Cola, Boeing, and other prominent US firms.

In response to queries, Titu affirmed that the government aims to formulate policies enabling local companies to operate and distribute goods through virtual markets akin to Amazon, extending their reach to international markets.

Furthermore, Titu highlighted discussions during the meeting regarding the import of cotton from the US to Bangladesh and the duty-free market access for ready-made garment products manufactured using US cotton.

Emphasizing the significance of large US companies entering Bangladesh, the state minister underscored the country’s vast business potential, extending not only to its population of 170 million but also to the 330 million people residing in countries neighboring the Bay of Bengal.

According to a statement from the commerce ministry, the delegation, led by Steven Kobos, President and CEO of Excelerate Energy, comprised nearly 30 members, including Atul Keshap, President of the US-Bangladesh Business Council.