fallstuff
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Bangladesh Economy: News & Updates
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Local ceramic cos get spot orders worth $30m in Frankfurt Fair
Published : Thursday, 07 March 2013
Yasir Wardad
Bangladeshi ceramic goods have succeeded in drawing attention of buyers in the Frankfurt International Trade Fair 2013 (Ambiente-2013), Germany which ended recently as local industries fetched spot orders worth US $ 30 million.
Bangladeshi participants secured spot orders for ceramic goods worth US $ 15.0 million last year at the same fair, industry insiders said.
Ambiente Frankfurt Fair is an important show for the producers of kitchen, tabletop, home decorating and furnishing and renovating segments across the globe.
Nearly 5000 companies from more than 100 countries attend the fair every year.
"Export order for Bangladeshi ceramics goods more than doubled this year. Seven local ceramic companies attended the fair," chief operating officer of Shinepukur Ceramics Ltd Rizvi Ul Kabir told the FE.
"Attending the fair is a must for the ceramic industries to hunt new export destinations. Apart from the traditional buyers, we have got orders from new buyers of different countries", he said.
Mr Kabir said that Noritake, pioneer in Japan industrial arena, has shown its interest to import Shinepukur products.
"China-bound buyers are also showing interest in our ceramic goods as they can get various kinds of products from a single company in Bangladesh which is not possible from Chinese companies", he added.
Seven local companies, participated in the fair held between February15-19 were Shinepukur, Paragon, Monno, Faar, People and Standard.
Executive director of Paragon Ceramics Ltd Md Ashekul Alam told the FE that the fair helped lot for their ongoing process to expand export destinations.
He said, "Ceramic products export fully depends on the US and EU countries which are not sustainable as recession has jolted both sides of the Atlantic".
"We are seriously searching for new markets across the globe to ensure a sustainable export," Mr Alam said.
He said they have invited new buyers to visit their ceramic industry and compare the local goods with those of other countries.
"We have received a good number of orders from renowned companies in Japan, Demark and UK. Few orders have also been secured from Latin American countries, Russia and South Africa" he said.
He said they had to pay a higher tariff to export ceramic products to new destinations like Argentina, Brazil, Chile, Uruguay, Paraguay, Russia and South Africa, which is a big barrier for expanding business there.
"The authority concerned should negotiate with the countries to reduce import duty," he said.
Bangladesh exports ceramic products to 50 countries including USA, EU, Australia, New Zealand, Canada, Mexico, Brazil and Chile.
Japan, Denmark and few other countries are going to be added as ceramic importers from Bangladesh soon, industry insiders said.
Ceramic industry, however, added $ 21.63 million at the export basket of the country with a 6.3 per cent growth in the first seven months of the current financial year (FY'13) compared to the corresponding period of the pervious year.
Export earning from the sector was $33.75 million in FY'12, Export Promotion Bureau (EPB) data showed.
Local ceramic cos get spot orders worth $30m in Frankfurt Fair :: Financial Express :: Financial Newspaper of Bangladesh
Published : Thursday, 07 March 2013
Yasir Wardad
Bangladeshi ceramic goods have succeeded in drawing attention of buyers in the Frankfurt International Trade Fair 2013 (Ambiente-2013), Germany which ended recently as local industries fetched spot orders worth US $ 30 million.
Bangladeshi participants secured spot orders for ceramic goods worth US $ 15.0 million last year at the same fair, industry insiders said.
Ambiente Frankfurt Fair is an important show for the producers of kitchen, tabletop, home decorating and furnishing and renovating segments across the globe.
Nearly 5000 companies from more than 100 countries attend the fair every year.
"Export order for Bangladeshi ceramics goods more than doubled this year. Seven local ceramic companies attended the fair," chief operating officer of Shinepukur Ceramics Ltd Rizvi Ul Kabir told the FE.
"Attending the fair is a must for the ceramic industries to hunt new export destinations. Apart from the traditional buyers, we have got orders from new buyers of different countries", he said.
Mr Kabir said that Noritake, pioneer in Japan industrial arena, has shown its interest to import Shinepukur products.
"China-bound buyers are also showing interest in our ceramic goods as they can get various kinds of products from a single company in Bangladesh which is not possible from Chinese companies", he added.
Seven local companies, participated in the fair held between February15-19 were Shinepukur, Paragon, Monno, Faar, People and Standard.
Executive director of Paragon Ceramics Ltd Md Ashekul Alam told the FE that the fair helped lot for their ongoing process to expand export destinations.
He said, "Ceramic products export fully depends on the US and EU countries which are not sustainable as recession has jolted both sides of the Atlantic".
"We are seriously searching for new markets across the globe to ensure a sustainable export," Mr Alam said.
He said they have invited new buyers to visit their ceramic industry and compare the local goods with those of other countries.
"We have received a good number of orders from renowned companies in Japan, Demark and UK. Few orders have also been secured from Latin American countries, Russia and South Africa" he said.
He said they had to pay a higher tariff to export ceramic products to new destinations like Argentina, Brazil, Chile, Uruguay, Paraguay, Russia and South Africa, which is a big barrier for expanding business there.
"The authority concerned should negotiate with the countries to reduce import duty," he said.
Bangladesh exports ceramic products to 50 countries including USA, EU, Australia, New Zealand, Canada, Mexico, Brazil and Chile.
Japan, Denmark and few other countries are going to be added as ceramic importers from Bangladesh soon, industry insiders said.
Ceramic industry, however, added $ 21.63 million at the export basket of the country with a 6.3 per cent growth in the first seven months of the current financial year (FY'13) compared to the corresponding period of the pervious year.
Export earning from the sector was $33.75 million in FY'12, Export Promotion Bureau (EPB) data showed.
Local ceramic cos get spot orders worth $30m in Frankfurt Fair :: Financial Express :: Financial Newspaper of Bangladesh
BDforever
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Jul-Mar 2013 remittance $10bn
Over US $10 billion came in as remittance in the first eight months – from July 2012 to March 8, 2013 - of the current fiscal (2012-1), according to the figures released by the Bangladesh Bank on Monday.
October saw the highest inflow of remittance with over US $1.45 billion adding to the foreign reserve kitty.
Forex reserve of the apex bank pushed through US $14 billion mark for the first time on Mar 5 following high remittance inflow.
However, the reserve came down below the US $14 billion mark on Mar 7 after clearing Asian Clearing Unit (ACU) dues.
Bangladesh Bank Governor Atiur Rahman said the reserve can cover the import costs for five months. “This shows the economy of Bangladesh is on a strong ground.”
Expatriate Bangladeshis had sent US $14.2 billion as remittance in 2012 – 21 percent more than the comparing figures of 2011.
Such a phenomenon of high remittance inflow is unprecedented.
Bangladesh Bank had taken several steps to encourage expats to send money home through the banking channel. Banks have been approved opening exchange accounts abroad to facilitate direct contacts with the expats.
Currently, there are 26 exchange houses of 23 banks globally. Drawing arrangements were made with 927 money transfer agencies of other countries.
source: Jul-Mar 2013 remittance $10bn - bdnews24.com
Over US $10 billion came in as remittance in the first eight months – from July 2012 to March 8, 2013 - of the current fiscal (2012-1), according to the figures released by the Bangladesh Bank on Monday.
October saw the highest inflow of remittance with over US $1.45 billion adding to the foreign reserve kitty.
Forex reserve of the apex bank pushed through US $14 billion mark for the first time on Mar 5 following high remittance inflow.
However, the reserve came down below the US $14 billion mark on Mar 7 after clearing Asian Clearing Unit (ACU) dues.
Bangladesh Bank Governor Atiur Rahman said the reserve can cover the import costs for five months. “This shows the economy of Bangladesh is on a strong ground.”
Expatriate Bangladeshis had sent US $14.2 billion as remittance in 2012 – 21 percent more than the comparing figures of 2011.
Such a phenomenon of high remittance inflow is unprecedented.
Bangladesh Bank had taken several steps to encourage expats to send money home through the banking channel. Banks have been approved opening exchange accounts abroad to facilitate direct contacts with the expats.
Currently, there are 26 exchange houses of 23 banks globally. Drawing arrangements were made with 927 money transfer agencies of other countries.
source: Jul-Mar 2013 remittance $10bn - bdnews24.com
BDforever
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Trade deficit down in current fiscal
The country’s net trade deficit has come down by 29 percent in the first seven months of the current 2012-13 financial year, compared with the corresponding period of the previous financial year.
According to the Bangladesh Bank statistics published Thursday, trade deficit in the first seven months of the current financial year stands at $4.34 billion, compared to $6.14 billion during the same period in the 2011-12 fiscal.
Decrease in imports perhaps led to the fall in the trade deficit, officials say.
A total of over $14.9 billion was earned in revenues from exports which is 8.28 percent higher than the last fiscal, and over $19.24 billion was spent on imports (3.34 percent lower than last year) in the first seven months of the current financial year, the Bangladesh Bank date suggested.
However, deficit in the service sector at over $2.64 billion is higher during this period compared to over $1.85 billion the same time last fiscal.
A little over $1.01 billion foreign currency net earning was recorded in this sector during the period, while nearly $4 billion was spent.
The service sector mainly includes tourism, insurance and financial trading.
Meanwhile, the condition of the running account has also improved in these seven months of the current fiscal.
Over $820 million is surplus in the running account against $1.30 billion during the same time last year.
Foreign direct investment (FDI) also increased during the period, with $870 million coming into the country. Last fiscal, it was $780 million.
The improvement in the trade balance has also made a positive impact on the foreign current exchange and reserve.
One US dollar was traded for Tk 81.82 until June last year, but after January this year a dollar was traded for Tk 79.20.
Also, at the end of January there were enough reserves to spend on imports in the next four months.
source: Trade deficit down in current fiscal - bdnews24.com
Export grows, off target
Export earnings grew by 9.38 percent in the first eight months of the current fiscal year over the same period last year, according Export Promotion Bureau (EPB)
EPB data published on Sunday show that Bangladesh earned $17.4 billion in July-Feb period of the 2012-13 fiscal year against $15.9 billion in the same period last year.
The earnings, however, were 1.86 percent lower than the target, which had been fixed at $ 17.73 billion for the period.
According to the EBP statistics, year-on-year growth in export earnings in February alone was 13.23 percent. In February 2013, the country earned $ 2.2465 billion against $ 1.98 billion last year.
Exporters say the earnings would grow at a faster pace towards the end of the fiscal year if the political situation stabilised.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Shafiul Islam Mohiuddin told bdnews24.com that the growth rate in exports that Bangladesh made amid recession in the US and Europe “is very much positive.”
“Even after the deaths of over 100 workers in Tazreen Fashions, no negative impact was evident (on exports) thanks to our diverse activities,” he said.
“Now we have only one concern – political instability,” he added.
In the July-February period, knitwear sector fetched $ 6.3 billion, seven percent higher than that in the same period last year. Woven garment sector earned $ 6.26 billion, registering a 13.37 percent growth.
Overseas earnings from jute and jute goods grew 10 percent and agro products 28.5 percent.
But the earnings from the tea sector dropped 31 percent.
source: http://bdnews24.com/economy/2013/03/10/export-grows-off-target
The country’s net trade deficit has come down by 29 percent in the first seven months of the current 2012-13 financial year, compared with the corresponding period of the previous financial year.
According to the Bangladesh Bank statistics published Thursday, trade deficit in the first seven months of the current financial year stands at $4.34 billion, compared to $6.14 billion during the same period in the 2011-12 fiscal.
Decrease in imports perhaps led to the fall in the trade deficit, officials say.
A total of over $14.9 billion was earned in revenues from exports which is 8.28 percent higher than the last fiscal, and over $19.24 billion was spent on imports (3.34 percent lower than last year) in the first seven months of the current financial year, the Bangladesh Bank date suggested.
However, deficit in the service sector at over $2.64 billion is higher during this period compared to over $1.85 billion the same time last fiscal.
A little over $1.01 billion foreign currency net earning was recorded in this sector during the period, while nearly $4 billion was spent.
The service sector mainly includes tourism, insurance and financial trading.
Meanwhile, the condition of the running account has also improved in these seven months of the current fiscal.
Over $820 million is surplus in the running account against $1.30 billion during the same time last year.
Foreign direct investment (FDI) also increased during the period, with $870 million coming into the country. Last fiscal, it was $780 million.
The improvement in the trade balance has also made a positive impact on the foreign current exchange and reserve.
One US dollar was traded for Tk 81.82 until June last year, but after January this year a dollar was traded for Tk 79.20.
Also, at the end of January there were enough reserves to spend on imports in the next four months.
source: Trade deficit down in current fiscal - bdnews24.com
Export grows, off target
Export earnings grew by 9.38 percent in the first eight months of the current fiscal year over the same period last year, according Export Promotion Bureau (EPB)
EPB data published on Sunday show that Bangladesh earned $17.4 billion in July-Feb period of the 2012-13 fiscal year against $15.9 billion in the same period last year.
The earnings, however, were 1.86 percent lower than the target, which had been fixed at $ 17.73 billion for the period.
According to the EBP statistics, year-on-year growth in export earnings in February alone was 13.23 percent. In February 2013, the country earned $ 2.2465 billion against $ 1.98 billion last year.
Exporters say the earnings would grow at a faster pace towards the end of the fiscal year if the political situation stabilised.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Shafiul Islam Mohiuddin told bdnews24.com that the growth rate in exports that Bangladesh made amid recession in the US and Europe “is very much positive.”
“Even after the deaths of over 100 workers in Tazreen Fashions, no negative impact was evident (on exports) thanks to our diverse activities,” he said.
“Now we have only one concern – political instability,” he added.
In the July-February period, knitwear sector fetched $ 6.3 billion, seven percent higher than that in the same period last year. Woven garment sector earned $ 6.26 billion, registering a 13.37 percent growth.
Overseas earnings from jute and jute goods grew 10 percent and agro products 28.5 percent.
But the earnings from the tea sector dropped 31 percent.
source: http://bdnews24.com/economy/2013/03/10/export-grows-off-target
Considering that Bangladesh is a developing country that needs a continuous investment in imported machines and factory building, I am not sure if the present shrinking of trade deficit is a good sign for the economy for the immediate future. BB has not published the sector-wise import volume, but I think, import of less quantity of capital goods has resulted in the shrinking of deficit, which looks good on the surface, but may not be good in essence.
For another matter, since the reserve may continuously grow up, there is a possibility that the BD currency will keep on appreciating. If so, it wil cause the shrinking of increase of exports of textiles to the world market in the near future. Instead of facing a sudden big shock someday, it is time that BD investors take measures and invest in some other non-textile sectors. Textile alone may not be able to pull the engine of growth for a long time to come, but no other new sector has so far come forward to work as an engine, although the shipbuilding could be one such promising sector.
More bdnews propaganda and more Awami league propaganda paddlers in here. For naive and Awami League looters this is a news. But in reality this is fake reserve built up by Bangladesh bank buying over $2 billion from market and by squezzing industrial expansion and import of capital machinary. This squezze of industrial expansion is the price paid for trade deficit improvement. That is utterly destructive move by Awami League.
BDforever
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1. Trade deficit down is good for a country's whole economy, but bad for export.
2. we need to focus on major machinery development of our own. because one day there will be surplus , so how we will export because taka will be more appreciated that time. Answer is machinery development,
machinery development will do 2 positive things:
1. decrease import.
2. increase export or constant export (it will ensure balance between price and quality)
ShahidT
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on the one hand it is good that currency appreciates because its means the currency bangladeshi's hold can buy more in terms of foreign goods or commodities. but at the same time because bangladesh is moving on an export based model, especially in area of textiles, it hurts the cost-competitiveness of these manufacturers/exporters as their goods are more expensive to foreigners. always a delicate problem thats why bangladesh should strive for balance with a strong domestically driven component of economy, with plenty of local buyers for the goods. anyways, my best wishes to bangladesh hope it surpasses its goals for future.
Who denies BD must develop its engineering industry. u, can it b done ina day or i year? No. Since this sector is not yet developed, therefore, industrialists must import them. But, the trade data implies they are importing less and less machineries which may mean a slower growth of industrial production after a few years.
A lower trade deficit is certainly not a merit for a developing/underdeveloped country if it is caused by less import of capital goods. However, import cannot be enforced on the private enterprises. They will decide their own course of action.
BDforever
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you did not get my point , i said it is time to develop engineering industry. you can not control import-export difference. look at western countries. they export more than import , but that does not affect their export, because they have machines which can produce good quality product at low cost. so rather worrying about import, focus on engineering industry development.
3 Kuwaiti organisations get permission to sell 200m IBBL shares
Three Kuwaiti investors in Islami Bank Bangladesh Ltd (IBBL) have received permission from the Bangladesh Securities and Exchange Commission (BSEC) to offload their equity holdings in the bank, official sources said Sunday.
3 Kuwaiti organisations get permission to sell 200m IBBL shares :: Financial Express :: Financial Newspaper of Bangladesh
Three Kuwaiti investors in Islami Bank Bangladesh Ltd (IBBL) have received permission from the Bangladesh Securities and Exchange Commission (BSEC) to offload their equity holdings in the bank, official sources said Sunday.
3 Kuwaiti organisations get permission to sell 200m IBBL shares :: Financial Express :: Financial Newspaper of Bangladesh
BDforever
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Bangladesh, Bhutan close to transit deal
The country will sign a transit agreement with the landlocked Bhutan in July to boost bilateral trade, Commerce Minister GM Quader said yesterday.
Under the agreement, Bhutan will be able to gain passage through the country’s land and waterways and airspace, Quader said.
Dasho Sonam Tshering, secretary of the ministry of economic affairs of Bhutan, is currently in Dhaka with an eight-member delegation to iron out the last details of the deal.
“We will hold more meetings with the Bhutanese delegation in the next two days to finalise the agreement, which is likely to run for perpetuity,” Commerce Secretary Mahbub Ahmed said.
If the deal gets through, Bhutanese vessels will be able to use the Doikhawa border in Lalmonirhat district to use Chittagong and Mongla ports, Quader said.
The fee for transit is currently being negotiated, along with negotiations for access to the Saidpur airport in Nilphamari, he said.
“The agreement will hold until either of the two countries raises any objection,” Quader said.
At present, trucks from Bhutan come to the country’s Burimari land port through India’s Chengrabandha land port, as per the terms and conditions, agreed upon in 1984, of the existing transit agreement between the two countries.
Earlier, the government-formed committee on the matter handed in a report, on whose basis the commerce ministry is acting. In fiscal 2010-11, the volume of trade between Bhutan and Bangladesh stood at $22.12 million, according to data from commerce ministry.
Of the total amount, Bhutan exported goods worth $19 million, while Bangladesh exported $3.12 million.
source: Bangladesh, Bhutan close to transit deal | The Daily Star
The country will sign a transit agreement with the landlocked Bhutan in July to boost bilateral trade, Commerce Minister GM Quader said yesterday.
Under the agreement, Bhutan will be able to gain passage through the country’s land and waterways and airspace, Quader said.
Dasho Sonam Tshering, secretary of the ministry of economic affairs of Bhutan, is currently in Dhaka with an eight-member delegation to iron out the last details of the deal.
“We will hold more meetings with the Bhutanese delegation in the next two days to finalise the agreement, which is likely to run for perpetuity,” Commerce Secretary Mahbub Ahmed said.
If the deal gets through, Bhutanese vessels will be able to use the Doikhawa border in Lalmonirhat district to use Chittagong and Mongla ports, Quader said.
The fee for transit is currently being negotiated, along with negotiations for access to the Saidpur airport in Nilphamari, he said.
“The agreement will hold until either of the two countries raises any objection,” Quader said.
At present, trucks from Bhutan come to the country’s Burimari land port through India’s Chengrabandha land port, as per the terms and conditions, agreed upon in 1984, of the existing transit agreement between the two countries.
Earlier, the government-formed committee on the matter handed in a report, on whose basis the commerce ministry is acting. In fiscal 2010-11, the volume of trade between Bhutan and Bangladesh stood at $22.12 million, according to data from commerce ministry.
Of the total amount, Bhutan exported goods worth $19 million, while Bangladesh exported $3.12 million.
source: Bangladesh, Bhutan close to transit deal | The Daily Star
Gyp 111
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B'desh eyes boosting trade with Myanmar :: Financial Express :: Financial Newspaper of Bangladesh
Dhaka is considering more pro-active moves to help boost its bilateral trade with Yangon, upon completion of a road to link Bangladesh with Myanmar at a location in the latter's territory adjacent to the common border, a senior official of the Ministry of Commerce (MoC) said.
"The construction of the road for linking Gundhum in Teknaf within the territory of Bangladesh with a point in Myanmar on the border has been completed," Commerce Secretary Mahbub Ahmed told the FE.
Meanwhile, the construction of the road linking Butheetaung with the border via Maundaw in Myanmar is expected to be completed in a couple of months, traders who frequently visit Myanmar said.
Traders in the relevant border areas of both the countries are allowed to visit either country for a maximum period of one week on trade missions through the Teknaf transit point.
Relevant officials in both the countries have started working to boost bilateral trade, in line with trade policies and their modalities, framed by the Joint Trade Commission that was formed late last year, officials of the MoC said.
The works on giving a boost to the bilateral trade have been geared up as Bangladesh Minister of Commerce GM Quader to Naypyitaw, the new capital of Myanmar which is adjacent to the earlier one in Yangon, early this month. Mr. Quader had discussions there with his Myanmar counterpart Mr Win Myint and reviewed the whole gamut of issues relating to bilateral trade prospects, in order to help their full potential.
Bangladesh is the third country to have a joint trade commission with Myanmar. The neighbouring country formed the first bilateral trade commission with Thailand and the second one, with Vietnam.
However, Myanmar earlier signed separate trade agreements with Bangladesh, China, India, Laos, Malaysia, Pakistan, the Philippines, South Korea, Thailand and Vietnam.
The lion's part of the bilateral trade between Bangladesh and Myanmar is conducted currently through the Teknaf landport, situated on the southern bank of the river Naf.
The two countries share a border-line of nearly 300 km running through forests, hills, rivers and maritime territory in the Bay of Bengal.
However, trade between Myanmar and Bangladesh came down to about $80 million, in aggregate value terms, in the calendar year, 2012 against about $100 million in the previous year, another official of the MoC said.
Both the countries agreed in principle last year to gear up the annual bilateral trade to US$ 500 million from around $100 million. However, the poor infrastructure and absence of proper shipping links have been acting as deterrents to tapping the full potential of bilateral trade between the two neighbouring countries, the officials said.
The transactions, in value terms, also declined in 2012 due to the unrest in the Rakhine state of Myanmar following spells of riots between Rohingya Muslims and Rakhine Buddhists, starting in June last. Because, the main trade route between the two countries passes through Maungdaw border town in Myanmar.
To help boost the bilateral trade, both sides have intensified efforts to gear up implementation of the road connectivity plan that was decided upon, in 2007.
During the meeting between the two commerce ministers, both sides reiterated their earlier decisions to increase the frequency of flights and shipping lines between the two countries.
Meanwhile, the town of Butheetaung is being connected with Maungdaw, a town near the Bangladesh-Myanmar border. The road in the Myanmar part is expected to be ready and made open to traffic within the next two to three months.
Furthermore, Bangladesh has constructed a small bridge in the narrow upstream area of the Naf river to facilitate a direct road connection with Maugdaw and help reduce time and distance for the consignments, shipped by traders on both sides, the traders said.
Bangladesh exports steel products, light engineering machinery, cement, dry foods, medicines and cosmetics etc., to Myanmar and imports fish, timber, spices, synthetic foot-wears, and pickles etc., from there.
However, the volume of unofficial trade between the two countries is, in value terms, about $300 million per year, said the sources in the Border Guards of Bangladesh (BGB).
Besides the formal trade, a large quantity of petroleum products, fertilisers, agricultural inputs, and automobile parts etc., are also smuggled into Myanmar, from where drugs etc., are smuggled into Bangladesh.
The BGB personnel seize annually a substantial quantity of smuggled goods, bound for both sides.
Dhaka is considering more pro-active moves to help boost its bilateral trade with Yangon, upon completion of a road to link Bangladesh with Myanmar at a location in the latter's territory adjacent to the common border, a senior official of the Ministry of Commerce (MoC) said.
"The construction of the road for linking Gundhum in Teknaf within the territory of Bangladesh with a point in Myanmar on the border has been completed," Commerce Secretary Mahbub Ahmed told the FE.
Meanwhile, the construction of the road linking Butheetaung with the border via Maundaw in Myanmar is expected to be completed in a couple of months, traders who frequently visit Myanmar said.
Traders in the relevant border areas of both the countries are allowed to visit either country for a maximum period of one week on trade missions through the Teknaf transit point.
Relevant officials in both the countries have started working to boost bilateral trade, in line with trade policies and their modalities, framed by the Joint Trade Commission that was formed late last year, officials of the MoC said.
The works on giving a boost to the bilateral trade have been geared up as Bangladesh Minister of Commerce GM Quader to Naypyitaw, the new capital of Myanmar which is adjacent to the earlier one in Yangon, early this month. Mr. Quader had discussions there with his Myanmar counterpart Mr Win Myint and reviewed the whole gamut of issues relating to bilateral trade prospects, in order to help their full potential.
Bangladesh is the third country to have a joint trade commission with Myanmar. The neighbouring country formed the first bilateral trade commission with Thailand and the second one, with Vietnam.
However, Myanmar earlier signed separate trade agreements with Bangladesh, China, India, Laos, Malaysia, Pakistan, the Philippines, South Korea, Thailand and Vietnam.
The lion's part of the bilateral trade between Bangladesh and Myanmar is conducted currently through the Teknaf landport, situated on the southern bank of the river Naf.
The two countries share a border-line of nearly 300 km running through forests, hills, rivers and maritime territory in the Bay of Bengal.
However, trade between Myanmar and Bangladesh came down to about $80 million, in aggregate value terms, in the calendar year, 2012 against about $100 million in the previous year, another official of the MoC said.
Both the countries agreed in principle last year to gear up the annual bilateral trade to US$ 500 million from around $100 million. However, the poor infrastructure and absence of proper shipping links have been acting as deterrents to tapping the full potential of bilateral trade between the two neighbouring countries, the officials said.
The transactions, in value terms, also declined in 2012 due to the unrest in the Rakhine state of Myanmar following spells of riots between Rohingya Muslims and Rakhine Buddhists, starting in June last. Because, the main trade route between the two countries passes through Maungdaw border town in Myanmar.
To help boost the bilateral trade, both sides have intensified efforts to gear up implementation of the road connectivity plan that was decided upon, in 2007.
During the meeting between the two commerce ministers, both sides reiterated their earlier decisions to increase the frequency of flights and shipping lines between the two countries.
Meanwhile, the town of Butheetaung is being connected with Maungdaw, a town near the Bangladesh-Myanmar border. The road in the Myanmar part is expected to be ready and made open to traffic within the next two to three months.
Furthermore, Bangladesh has constructed a small bridge in the narrow upstream area of the Naf river to facilitate a direct road connection with Maugdaw and help reduce time and distance for the consignments, shipped by traders on both sides, the traders said.
Bangladesh exports steel products, light engineering machinery, cement, dry foods, medicines and cosmetics etc., to Myanmar and imports fish, timber, spices, synthetic foot-wears, and pickles etc., from there.
However, the volume of unofficial trade between the two countries is, in value terms, about $300 million per year, said the sources in the Border Guards of Bangladesh (BGB).
Besides the formal trade, a large quantity of petroleum products, fertilisers, agricultural inputs, and automobile parts etc., are also smuggled into Myanmar, from where drugs etc., are smuggled into Bangladesh.
The BGB personnel seize annually a substantial quantity of smuggled goods, bound for both sides.
kalu_miah
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Article
AN ECONOMIC WAR:
PYTHON V/S HARE
During pre historic times muscle power was the ultimate source of success. The most powerful could have everything while the weaker always bite dust. Thereafter, successively being introduced different levels of warfare technologies- from bow and arrows to ICBMs; which remained sign of strength for quite some time. But the present era is mainly the era of economic might. At times, it is used with military might to achieve their designs and goals.
In todays world it is this power machine which enables nations to enslave other nations with brigades comprising of giant multinational companies who sneaks in under the patronization of institutions like- IMF, WB and other similar kind of financial institutions. They all operate in unition under the cover of the recently invented WTO. The tactics used for such kind of invasion and occupation are carrot and stick- meaning by persuasion combined with dictates and all sorts of pressure. Advertisements, bribery, kickbacks to the corrupt politicians, bureaucrats and the people in the corridors of power are the weapons used, just as an army uses tanks missiles and cannons etc.
Though latecomer in the club but India has joined it with a thud and Bangladesh is the first place where it is going to test all its economic arsenals. It may sound strange but a reality that India, a self-appointed super power, considers it is her birthright to bully and keep under its toe all other nations in the sub-continent and the hearts of Indian ruling elites ache miserably when they see neighbors prospering.
Over the years slowly and gradually, one by one; Sikkim, part of Tibet, Bhutan and Nepal fell prey to its imperialist designs, Sri Lanka has writhed out of its deadly web, Pakistan as they think, Indias dream gone sore even after the debacle of 1971, Bangladesh is like a hare whose one leg is has stuck is an Indian snare and it is trying desperately hard to set itself free. As a hunter knows, a partially trapped animal troubles itself by fluttering desperately. Bangladesh is doing just that, it might be totally sucked into if the eye fails to see the problem in its correct perspective by taking unwise decisions in desperation and frustration.
India is the only economic rival of Bangladesh in the region, while for India the later does not in any way qualifies to be a rival. Despite this fact, India has been trying hard to quash Bangladesh economy at the very nascent stage. As a friend from Bangladesh told me that even a bread maker of Bangladesh has to compete with Indian counterpart.
Being bolstered by the West under the leadership of America India wants to be the regional economic power vying to make its way to emerge as the global power subsequently. It has a relatively stronger industrial base; government protects industry by tariffs and subsidies while Bangladesh has a nascent industry just passing through its formative stages. So, there is no equitable parallel between them. Even then the Indians are thinking that they should nip Bangladeshs economy and industrial base in the bud so that it may not pose any sort of threat on its ambition in future. TATAs, Mittals, Birlas, and Reliance etc are ready and stand by to come to Bangladesh with bags full of money. Some people in Bangladesh may be thinking that its good for their country. But I with due modesty want to forewarn all those simple souls that they are not coming to Bangladesh to serve them free lunch, rather they have hidden axes to grind, and that too on the bare backs of poor Bengalis. They are not motivated by human compassion, by market dynamics of Bangladesh economy or by any other civilized values or factors; they are in fact big pythons who are mollycoddling the Bangladeshi hare just before devouring it. This hare has the power and potential to run for its life. But, future is the only judge who would tell us fate of this poor creature.
Yet another cruel ploy of Mahabaratites is to desertify Bangladesh which is otherwise an envying lush green piece of earth. Its a great travesty of the providence that all rivers of Bangladesh come from India. Catching hapless Bangladesh at this point India has resorted to building dams, canals and other projects of that sort which in future may make Bangladesh a barren desert. That sheaf of paddy which we see in their natural emblem might just scorch away and turn into hay. The day, God forbids, this ghastly Indian design is materialized, they would ask for Bangladeshs self determination, Bengali culture, Bengali resources as price for breadcrumbs.
Indian military and political establishment which is guided by ideologies of Chanakkays are carrying out their coveted agenda against all weaker neighbors but the sad part of the story is that some of the prominent, well educated Bengalis are their camp followers. Those people who otherwise should be at the fore front of Bangladeshs march towards progress and prosperity sadly, have willing or unwillingly have become tools of Indian imperialism. One cannot stop but wail over this divine tragedy and pray that these people become alive to the fact that if independent and economically viable Bangladesh is there, only then can their future generations shall survive, else, they have to live like schedule castes of India, relegated to the sub-human level due to their rigid and articulate caste system.
AN ECONOMIC WAR:
PYTHON V/S HARE
During pre historic times muscle power was the ultimate source of success. The most powerful could have everything while the weaker always bite dust. Thereafter, successively being introduced different levels of warfare technologies- from bow and arrows to ICBMs; which remained sign of strength for quite some time. But the present era is mainly the era of economic might. At times, it is used with military might to achieve their designs and goals.
In todays world it is this power machine which enables nations to enslave other nations with brigades comprising of giant multinational companies who sneaks in under the patronization of institutions like- IMF, WB and other similar kind of financial institutions. They all operate in unition under the cover of the recently invented WTO. The tactics used for such kind of invasion and occupation are carrot and stick- meaning by persuasion combined with dictates and all sorts of pressure. Advertisements, bribery, kickbacks to the corrupt politicians, bureaucrats and the people in the corridors of power are the weapons used, just as an army uses tanks missiles and cannons etc.
Though latecomer in the club but India has joined it with a thud and Bangladesh is the first place where it is going to test all its economic arsenals. It may sound strange but a reality that India, a self-appointed super power, considers it is her birthright to bully and keep under its toe all other nations in the sub-continent and the hearts of Indian ruling elites ache miserably when they see neighbors prospering.
Over the years slowly and gradually, one by one; Sikkim, part of Tibet, Bhutan and Nepal fell prey to its imperialist designs, Sri Lanka has writhed out of its deadly web, Pakistan as they think, Indias dream gone sore even after the debacle of 1971, Bangladesh is like a hare whose one leg is has stuck is an Indian snare and it is trying desperately hard to set itself free. As a hunter knows, a partially trapped animal troubles itself by fluttering desperately. Bangladesh is doing just that, it might be totally sucked into if the eye fails to see the problem in its correct perspective by taking unwise decisions in desperation and frustration.
India is the only economic rival of Bangladesh in the region, while for India the later does not in any way qualifies to be a rival. Despite this fact, India has been trying hard to quash Bangladesh economy at the very nascent stage. As a friend from Bangladesh told me that even a bread maker of Bangladesh has to compete with Indian counterpart.
Being bolstered by the West under the leadership of America India wants to be the regional economic power vying to make its way to emerge as the global power subsequently. It has a relatively stronger industrial base; government protects industry by tariffs and subsidies while Bangladesh has a nascent industry just passing through its formative stages. So, there is no equitable parallel between them. Even then the Indians are thinking that they should nip Bangladeshs economy and industrial base in the bud so that it may not pose any sort of threat on its ambition in future. TATAs, Mittals, Birlas, and Reliance etc are ready and stand by to come to Bangladesh with bags full of money. Some people in Bangladesh may be thinking that its good for their country. But I with due modesty want to forewarn all those simple souls that they are not coming to Bangladesh to serve them free lunch, rather they have hidden axes to grind, and that too on the bare backs of poor Bengalis. They are not motivated by human compassion, by market dynamics of Bangladesh economy or by any other civilized values or factors; they are in fact big pythons who are mollycoddling the Bangladeshi hare just before devouring it. This hare has the power and potential to run for its life. But, future is the only judge who would tell us fate of this poor creature.
Yet another cruel ploy of Mahabaratites is to desertify Bangladesh which is otherwise an envying lush green piece of earth. Its a great travesty of the providence that all rivers of Bangladesh come from India. Catching hapless Bangladesh at this point India has resorted to building dams, canals and other projects of that sort which in future may make Bangladesh a barren desert. That sheaf of paddy which we see in their natural emblem might just scorch away and turn into hay. The day, God forbids, this ghastly Indian design is materialized, they would ask for Bangladeshs self determination, Bengali culture, Bengali resources as price for breadcrumbs.
Indian military and political establishment which is guided by ideologies of Chanakkays are carrying out their coveted agenda against all weaker neighbors but the sad part of the story is that some of the prominent, well educated Bengalis are their camp followers. Those people who otherwise should be at the fore front of Bangladeshs march towards progress and prosperity sadly, have willing or unwillingly have become tools of Indian imperialism. One cannot stop but wail over this divine tragedy and pray that these people become alive to the fact that if independent and economically viable Bangladesh is there, only then can their future generations shall survive, else, they have to live like schedule castes of India, relegated to the sub-human level due to their rigid and articulate caste system.
Salaam to all the Muslims,
Can someone please tell me what are the official figures for the Bangladeshi Expatriate community? According to Wikipedia, there are 3 million Bangladeshis in Pakistan?!
Salaam to all the Muslims.
Can someone please tell me what are the official figures for the Bangladeshi Expatriate community? According to Wikipedia, there are 3 million Bangladeshis in Pakistan?!
Salaam to all the Muslims.
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