Bangladesh is an important American ally in South Asia. The two countries cooperate fully on issues of regional and global security, counter-terrorism and climate change. Bangladesh has been an important participant in the Obama administration`s key international development initiatives, including food security, health care and the environment.  A strategic dialogue agreement between the two countries was signed in 2012. In 2015, U.S. Ambassador to Bangladesh Marcia Bernicat called relations «alive, varied and indispensable.»  Noting that the parties are members of the WTO and reaffirming that this agreement does not affect or has concluded the rights and obligations of these parties under WTO agreements, arrangements and other instruments; To date, the United States has signed 48 similar agreements to establish a trade and investment platform with 42 countries and six regional trade organizations; for a total of 92 countries in which discussions on TIFA were first initiated with Bangladesh in 2002. In June 2013, after the collapse of the Savar building in 2013, which killed more than 1,000 people, the United States suspended a preferential trade agreement with Bangladesh, which allowed duty-free access to the U.S. market due to poor safety standards. Bangladesh`s Foreign Ministry issued a statement saying: «It cannot be more shocking to Bangladeshi factory workers than the decision to suspend the Generalized Preference System (GSP) comes at a time when the Bangladeshi government has taken concrete and visible steps to improve factory safety and protect workers` rights.»  The forum monitors trade and investment relations between the parties and identifies opportunities for expanding trade and investment; and, if necessary, engage the private sector and civil society on issues related to the forum`s work.
Each party may terminate this contract by communing a written termination to the other party. The information will come into effect on a day when the parties agree or, if the parties fail to reach an agreement, 180 days after the day of notification. Contacts between Bengal and the United States were limited in the Indian subcontinent during the period of British rule. In the 1860s, a consular agency for Chittagong was established by the U.S. Consulate General in Fort William. During World War II, large U.S. navy, air and army troops were deployed to East Bengal as part of the Burmese campaign. Washington, D.C. – U.S. Trade Representative Michael Froman signed the agreement on the U.S.-Bangladesh Trade and Investment Cooperation Forum (ICTFA). The agreement was signed by Bangladeshi Trade Minister Mahbub Ahmed and U.S.
Vice Trade Representative Wendy Cutler. THE ICTFA provides both governments with a mechanism for discussion on trade and investment issues and areas of cooperation. ICTFA has been under negotiation for a very long time during the mandates of different governments. It should be noted that all aspects of the agreement have been clearly examined and that the country`s interest has been given due consideration to the extent possible.