Does location choice (when setting up iphone) affect apple id?

So i have an apple id that was created in the United States and home store location and everything was set according to united states and all purchases made was in US $. And this apple id I used to set up my iphone 6s plus when I was in USA.

But recently I've moved to Bangladesh and will be staying here for quite some time. Anyways due to some unavoidable reasons, I decided to factory reset my iphone 6s plus (erase all content and settings) and start everything from the very beginning.

After hard reset I still used my one and only US apple id that i have and used earlier to set up my iphone but when I'm being asked to choose my country/region, should I choose USA or should I choose Bangladesh?

It may sound obvious that I should choose Bangladesh since I'm currently situated here but my question is - if I choose Bangladesh as my country/region when setting up iphone, will I be able to access the us app store and re-download my previous purchases? (I still have US $ credit in my apple id)

Or is it that I can only visit and download from the US app store only if I choose US as my country/region?

What are the implications of 'Select your country or region' ?

Thanks in advance