Wednesday , September 19 2018
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Bangladesh

India gets access to two Bangladeshi ports, will boost connectivity with North-Eastern region

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The central government’s efforts to enhance connectivity between the North-Eastern region and rest of the country has received a shot in the arm after the Bangladeshi cabinet approved a proposed agreement with India enabling India to use the Chattogram and Mongla ports for goods movement to the North-East. Md Shafiul Alam, Cabinet Secretary of the Bangladesh government said that the ... Read More »

Imported spices worth around Tk3,000cr a year

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The country imports dry pepper, cumin, cardamom, and cloves, as they are not produced locally The import of major spices rose by 17% in August after a slow July as businesses rushed to meet consumer demand ahead of Eid-ul-Azha. Revenue board officials said the import of spices sees a major spike ahead of every Eid-ul-Azha as the ingredients are widely ... Read More »

Cabinet approves use of Bangladesh ports for Indian shipments to northeast

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Customs duties and transportation costs will be charged on this freight as it makes its way through Bangladesh territory, said Cabinet Secretary Shafiul Alam, after the cabinet approved the draft of a possible deal with India. “A draft of the communication network being built for connectivity between the Chattogram and Mongla ports has been approved for India’s signing. One of ... Read More »

Tax receipts rise, but growth slows

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Tax receipts rose 4.86 percent year-on-year to Tk 13,867 crore in July this year, although the collection growth slowed down significantly because of a slump in indirect taxes. The National Board of Revenue collected Tk 13,225 crore in taxes in July of 2017-18, a rise by 21.79 percent year-on-year. Overall collection fell short by Tk 2,871 crore ofthe target setat ... Read More »

Bangladesh seeks US cooperation for implementing Trade Facilitation Agreement

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Bangladesh has sought the cooperation of the United States for implementation of the Trade Facilitation Agreement (TFA) for expanding market access for Bangladeshi goods to the US market. At the 4th meeting of the Trade and Investment Cooperation Forum Agreement (TICFA) held in Washington DC yesterday, Bangladesh also made a special request for increasing duty-free market facilities in light of ... Read More »

Tripura traders refuse to take Bangladeshi goods

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Fish worth Tk 22 lakh rotted after traders at Agartala Land Port in the Indian state of Tripura stopped receiving Bangladeshi goods following a feud between the Indian businessmen. As a sequel, Bangladesh traders also stopped fish export to India yesterday and decided to suspend export of all types of goods from Saturday. Meanwhile, travelling of passport holder passengers from ... Read More »

India & Bangladesh:Trade, Synergies & China

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As per estimates available from Bangladesh Bank, as in 2016-17 (July-June); India was the second largest Import destination for Bangladesh (after China). However, India contributed barely 1.9% ($672 million) of Bangladesh’s 34.65 billion export revenue). Naturally, India was nowhere in the list of the top export destinations released by Bangladesh Bank. The indications are clear. Though India dismantled the duty ... Read More »

BIMSTEC hopes to finalise agreements on goods trade, customs cooperation by next year

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The seven-nation regional bloc Bay of Bengal Initiative for Multi-Sectoral (BIMSTEC) will finalise agreements on goods trade and customs cooperation, as part of the proposed FTA, by 2019. “India recently provided new inputs on product specific rules (PSR), paving the way to resumption of negotiations on the trade in goods, which were stalled in 2015. Also, considerable progress has been ... Read More »

Huge illegally imported medicine seized at Dhaka airport

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Customs intelligence seized huge quantity of restricted and illegally imported medicines at Hazrat Shahjalal International Airport in Dhaka on Monday afternoon. The medicines, worth Tk 1.6 crore, were found on a Hajj flight that had come from Jeddah, Saudi Arabia around 5:00pm, said director general of customs intelligence and investigation directorate Shahidul Islam. Acting on a tip-off, a team of ... Read More »

Construction of India-Bangladesh oil pipeline to begin this month

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After cross-country electricity grid, it is time for cross-country oil pipeline between India and Bangladesh. The Prime Minister may flag off the construction of the 136-km pipeline to carry diesel from Siliguri in West Bengal to Parbatipur in Dinajpur district of North Bangladesh. The two countries entered into an agreement for the pipeline construction early this year. Financing The 6-km ... Read More »

INKA Expedites Completion of 50 Train Cars for Bangladesh

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TEMPO.CO, Jakarta – State-owned trainmaker PT Industri Kereta Api (INKA) is presenty completing the 50 train cars ordered by Bangladesh for delivery in October. “Bangladesh has trusted INKA for three times . This year, it orders 250 train cars and the completion target is next year,” INKA director Budi Noviantoro said on Sunday, September 2. In July, INKA received an ... Read More »

Dhaka bringing Beijing and New Delhi closer

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After last year’s Doklam standoff ended, India-China relations seem to have received a fresh change. Two high-level visits from India, by Prime Minister Narendra Modi and the Defense Minister Nirmala Sitharaman, followed by the recent trip by Chinese Defense Minister Wei Fenghe to India are raising expectations of a positive change in direction. Since the Modi-led government came to power, ... Read More »

Bangladesh urges Sri Lanka to sign FTA quickly

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Bangladesh has urged Sri Lanka to sign the free trade agreement and the bilateral coastal shipping deal quickly to enhance trade between the two countries, The Daily Star reported. Planning Minister AHM Mustafa Kamal made the call during a meeting with Prime Minister Ranil Wickremesinghe in Hanoi, Vietnam, on the sidelines of the Indian Ocean Conference, according to a statement ... Read More »

Border Patrol Agents Arrest 10 Illegal Aliens from Bangladesh

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Bangladesh:Texas U.S. Border Patrol agents assigned to the Eagle Pass Station arrested 10 illegal aliens from Bangladesh. “Our Border Patrol agents face unique challenges every day and may encounter persons from different regions of the world. I commend them for their vigilance and commitment to safeguard our nation’s borders,” said Del Rio Sector Chief Patrol Agent Felix Chavez. In the ... Read More »

Bangladesh starts operations at country’s first LNG terminal

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DHAKA: Bangladesh has started operations at the country´s first liquefied natural gas (LNG) terminal, the country´s energy minister said on Monday, following delays related to technical problems and bad weather. The floating storage and regasification unit (FSRU), which arrived in Bangladesh in April to offload its maiden cargo of liquefied natural gas from Qatar and moor permanently as an import ... Read More »

MoFo stars in $1.5 bln Japan-Bangladesh tobacco deal

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Morrison & Foerster, Dr. Kamal Hossain & Associates and DFDL Bangladesh have represented Japan Tobacco on its $1.5 billion agreement to buy the tobacco business of Bangladesh’s Akij Group, which was advised by Rouf & Associates. The 124.3 billion taka ($1.5 billion) deal is the biggest ever involving a Bangladeshi company, according to Thomson Reuters data. Reuters added that in ... Read More »

Bangladesh now hotspot for investment

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Investments have seen a sharp rise due the government’s higher spending on infrastructure and the power and energy sector Government initiatives such as establishing Special Economic Zones (SEZs), mega projects, and regulatory reforms to promote business, have turned Bangladesh into a hotspot for investors from home and abroad. In recent months, Bangladesh has witnessed a sharp rise in Foreign Direct ... Read More »

BTC prepares lists of 200 products for DFQF access to GCC market

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Bangladesh Tariff Commission has prepared two priority lists containing 200 potential exportable products for seeking duty-free and quota-free access to Gulf Cooperation Council market. The lists have been prepared based on export capacity of Bangladesh, import demand of GCC countries—Bahrain, Kuwait, Oman, Qatar, United Arab Emirates and Kingdom of Saudi Arabia—and future potential for export to the countries, officials said. ... Read More »

Sweater exports a new avenue for Bangladesh

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Bangladesh:According to data from the Export Promotion Bureau (EPB), in the fiscal year 2017-18, Bangladesh earned $3.67 billion, which is 9.32% higher compared to the $3.36 billion it earned in FY16-17 Bangladesh’s export earnings from sweater products has grown by 9% to $3.67 billion in the last fiscal year, thanks to technological upgrades. According to data from the Export Promotion ... Read More »

India rules-of-origin move to hit Bangladesh RMG export

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A recent Indian government’s move to introduce rules of origin in the name of protecting its local garment manufacturers might severely hurt Bangladesh’s export growth to its neighbour. India has started discussions with stakeholders on a proposed ‘Fabric Forward Policy’ with the aim of introducing the rules of origin for duty-free garment imports. Although India doubled the import tax on ... Read More »