Dhaka, Nov. 6 -- Five leading soy value chain companies from Bangladesh Meghna Group of Industries (MGI), City Group, Delta Agrofood Industries Ltd, Mahbub Group, and KGS Group have signed agreements to import $1.25 billion worth of soy products from the United States over the next year.

The landmark move is expected to strengthen Bangladesh's feed and food industries while helping narrow the trade gap between the two countries.

The deals were formalized at two separate events held at the Sheraton Hotel in Dhaka on Tuesday, attended by importers, mill owners, diplomats, and business leaders.

Under the agreements with the US Soybean Export Council (USSEC), Bangladesh's processors and soybean meal importers have pledged to purchase soybe...