Dhaka, May 1 -- US Ambassador to Bangladesh Brent T. Christensen on Tuesday described the agreement on reciprocal trade (ART) as an excellent agreement, noting that Bangladesh has committed to purchasing $3.5 billion in US agricultural products - wheat, soy, cotton, and corn.

The recently concluded agreement on reciprocal trade, the Ambassador said, can propel not just trade between the two countries, but Bangladesh's economic development to new levels if fully embraced and executed.

"The ART is an excellent agreement, which preserves Bangladesh's access to the critical US market with competitive 19 percent tariffs - down from 35 percent without the agreement -- while making changes in Bangladesh's tariffs and non-tariff trade barriers ...