United News of Bangladesh

A high-level delegation will visit the United States next week to hold talks over Washington’s recent counter-tariff measures, said Commerce Adviser SK Bashir Uddin on Wednesday. The delegation will include the Finance Adviser, the Chief Adviser’s special assistant, the commerce secretary and others concerned,” he said at a views-exchange meeting titled “37% US Tariff: Challenges, Prospects and Government Measures,” organised by the Bangladesh Secretariat Reporters Forum (BSRF) at the Secretariat’s media centre.  They discuss with officials of the United States Trade Representative (USTR)  who deal with tariff matters, to identify specific steps regarding both tariff and non-tariff issues, he said. Adviser Bashir said “37% counter-tariff has been suspended for 90 days and during this period, we must determine our course of action. The Chief Adviser is well aware of the issue,” he added. NBR to chase TIN holders who fail to submit tax returns Highlighting the significance of bilateral trade with the US, he said, “Among the countries we trade with—where export volume exceeds import—the US stands out as the largest single buyer. So this issue is a matter of concern for us. The US calculates its trade deficit based on goods, not services. That’s why we have developed a specific action plan.” The delegation will visit the US to identify concrete measures regarding tariff and non-tariff frameworks through discussions with USTR officials, h said. The commerce adviser also said that Bangladesh’s trade with the world operates under the WTO framework, and its trade relationship with the US alone amounts to $2.2 billion. “In addition, various American products enter our market through other countries. We also export some goods that benefit both nations. By engaging with the US, we can work to bring tariffs on these products to a more tolerable level. At the same time, we are considering infrastructural improvements to enhance product quality and acceptability, ultimately boosting our trade volume,” he said. Trump places 25% tariff on imported autos, expecting to raise $100 billion in tax revenues Forum’s President Fasih Uddin Mahtab prevised over the event while BSRF General Secretary Masudul Haque moderated it.  

Commerce Adviser Sheikh Bashir Uddin said on Monday that the prices of daily essentials are now on a downward trend from being stable and are expected to decline further. He was speaking at a gathering of imams and khatibs after Iftar at the Jamia Madania Baridhara auditorium, organised by Hefazat-e-Islam Bangladesh Dhaka Metropolitan on Wednesday evening. The adviser said that wealth inequality was a major factor behind the July uprising. "We must address inequality through our actions and policymaking. The roles of Qardh al-hasan (interest-free lending) and Zakat are crucial in eliminating this wealth disparity," he added. Zakat, he explained, is an effective Islamic model for wealth distribution. It is the responsibility of the individual, not a form of charity. Imams and khatibs can inspire people to pay Zakat, ensuring a balanced distribution of wealth and reducing poverty. Sheikh Bashir Uddin also emphasized that Zakat helps discourage hoarding. NBR moves to identify issues hampering online e-return of taxes The Trading Corporation of Bangladesh (TCB) conducts activities worth Tk 12,000 crore annually, with the government's subsidy amounting to Tk 4,500 crore. He noted that serious corruption has plagued all sectors of the economy, social policy, and politics in the past, highlighting that corruption within TCB's activities for marginalized populations has reached an extreme level. In seeking the involvement of religious leaders in TCB's activities, he urged, "I appeal to leaders of all religions, not just Islam, to help in properly selecting the one crore marginalized families of TCB. Through your support, I aim to establish justice in society." The commerce adviser also mentioned that the government is taking steps to preserve rawhide and ensure fair pricing. "This time, the government will provide salt to madrasas and orphanages to preserve the skin of sacrificial animals. Your responsibility will be to clean and preserve the skin with salt, rather than selling it immediately on the day of sacrifice.” “If you sell it after seven days, you will get a fair price,” he added. Betar still major source of information: Mahfuj Alam He referred to leather as a national asset and a major source of income for madrasas and orphanages. He said that the ministries of industries and commerce are taking necessary steps to develop the leather industry. Regarding leather supply, he pointed out that when leather from districts outside Dhaka enters the capital after Qurbani, the supply increases, causing prices to drop. He assured that measures will be taken to prevent this from happening this time. Hefazat-e-Islam Dhaka Metropolitan President Muhammad Junaid Al Habib, Hefazat-e-Islam Dhaka Metropolitan General Secretary Muhammad Mamunul Haque, leaders of various levels of Hefazat-e-Islami, and khatibs and imams from numerous mosques attended the event.

Commerce Adviser Sheikh Bashir Uddin has said that plastic products can play a significant role in diversifying export prospects. The adviser came up with the remark while addressing the inaugural ceremony of the four-day 17th International Plastic, Packaging and Printing Industrial Fair at the Bashundhara International Convention City (ICCB) in Dhaka on Wednesday. The adviser also stressed the need for policy formulation based on reality. Commerce Adviser defends govt’s move to increase VAT “We must phase out harmful plastics while embracing good plastics. Our efforts should focus on increasing the responsible production and use of beneficial plastic products,” he said. Mentioning that Bangladesh is going to graduate from the Least Developed Country (LDC) status in November 2026, the adviser said the country will lose preferential market access due to this. “The government will no longer be able to provide incentives. To overcome this challenge, we must enhance our competitiveness, improve productivity and reduce production costs. Without these capabilities, we will face severe difficulties,” he added. Later, he visited different stalls at the fair. Commerce Adviser highlights importance of awareness and responsibility to safeguard consumer rights The fair is jointly organised by Bangladesh Plastic Product Manufacture and Export Association and Hong Kong-based Yorkers Trade & Marketing Service Co. Ltd. There are 800 stalls at the fair. More than 390 brands from 18 countries, including China, Germany, India, Italy, Japan, Vietnam, the UAE, Turkey, and the UK are showcasing their products and technologies. The exhibition is open to visitors daily from 11 am to 7 pm.  

Commerce Adviser Sheikh Bashir Uddin has said that the edible oil market will be stable within seven to ten days.The shortage of soybean oil in the market will be resolved, he said while speaking at a programme at the Secretariat on Wednesday. Jatrabari’s Kitchen Market: Traders block roads, cause traffic turmoil He also assured that there is no scope of instability in the prices of chickpeas, peas, dates, lentils and sugar ahead of Ramadan as there is no crisis of these products, he said.

Trading Corporation of Bangladesh (TCB) will continue selling of daily essentials at subsidised rates throughout Ramadan, Commerce Adviser Sheikh Bashir Uddin said on Tuesday. Speaking to reporters after inaugurating TCB’s sales operation at the Shibbari intersection in Khulna, he said the initiative follows directives from the Chief Adviser to support low-income families during the holy month. The TCB has already launched its operation in 13 areas, including all divisional headquarters and five designated areas, aiming to provide essentials to 12 lakh families, Bashir Uddin said. He also highlighted that TCB supplies goods to 63 lakh families, with the highest smart card conversion success rate recorded in the Khulna region. TCB ready to resume sales through trucks offering subsidised essentials The remaining smart cards will be activated by February 24, further increasing the number of beneficiaries, he added. To expand coverage, truck sales will continue until the last day of Ramadan, ensuring an additional 12 lakh families can access essential goods at lower prices. The initiative is expected to help stabilize market prices and provide relief to marginalized communities. TCB trucks selling edible oil at Tk100 per liter set to hit the streets from tomorrow An additional 9,000 metric tons of goods will be distributed through these trucks, the adviser said. Fixed Prices for Essential Items Each buyer will be able to purchase:               •           Soybean oil: Up to 2 liters at Tk 100 per liter               •           Lentils and chickpeas: Up to 2 kg each at Tk 60 per kg               •           Sugar: Up to 1 kg at Tk 70 per kg               •           Dates: Up to 500 grams at Tk 156 per kg          

Commerce Adviser Sheikh Bashir Uddin has urged for efforts to enhance the capacity of traders, alongside diversifying products and reducing production costs, to meet future challenges. “If we cannot create competitiveness through the participation of the private sector and reduce the production costs of products, many challenges will arise in the future of LDCs. The unemployment rate will also increase in the country,” he said at the closing ceremony of the Dhaka International Trade Fair 2025, held at the Bangladesh China Friendship Exhibition Centre in Purbachal, Dhaka, on Friday. The adviser also highlighted the government’s efforts to improve the investment environment under the leadership of Chief Adviser Muhammad Yunus, noting that these steps align with the aspirations of the people. On the low participation of foreign companies in the international trade fair, he explained that it is difficult for foreign firms to commit to a month-long event, as they typically participate in shorter exhibitions lasting five to six days. Despite this, he expressed a desire to boost international connectivity at future trade fairs. The commerce adviser further remarked that Bangladesh will lose many of its previous advantages as it faces the challenges of LDC status. Commerce Adviser highlights importance of awareness and responsibility to safeguard consumer rights “To meet these challenges, local imports will need to be liberalised, and it will no longer be possible for the government to provide export incentives,” he said. “If businesses fail to compete, they will suffer.” He also mentioned that the government has taken important steps, such as launching the National Single Window, which provides 18 services through a single channel. The ceremony was presided over by Commerce Secretary Abdur Rahim Khan, with speeches from Md Hafizur Rahman, administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Md Anwar Hossain, vice chairman of the Export Promotion Bureau (EPB). The trade fair, which began on January 1, saw participation from 343 domestic and international organisations. A total of 361 stalls and pavilions were set up, including 11 foreign organisations from India, Pakistan, Hong Kong, Turkey, Indonesia, Malaysia, and Singapore.

Bangladesh is keen to enhance bilateral trade relations with Malaysia and ensure balanced trade between the two countries, said Commerce Adviser Sk Bashir Uddin on Monday. He came up with the information during a meeting with Malaysian High Commissioner to Bangladesh Mohd Shuhada Othman at the Secretariat. The discussion focused on bilateral trade and potential future investments. Highlighting the significance of free trade agreements (FTAs) in boosting trade and investment, the commerce adviser said that Bangladesh has already initiated talks with South Korea, Japan, and Singapore for FTAs.  South Korean special envoy to pay “goodwill” visit to Bangladesh Jan 22-23 He stressed the need for immediate discussions between Malaysia and Bangladesh to expand trade, which would benefit both nations.  Noting that Malaysia's labor market is vital for Bangladesh, the adviser said "A significant portion of our foreign reserves comes from remittances sent by Bangladeshi expatriates in Malaysia. We aim to establish a strong presence there through the export of skilled manpower," he said.  The adviser also urged Malaysian investors to take advantage of Bangladesh's special economic zones. He also urged the traders to increase palm oil exports to Bangladesh, particularly during Ramadan when the demand for edible oil surges. During the meeting, Malaysian High Commissioner to Bangladesh Mohd Shuhada Othman said Malaysia has made substantial investments in the electric chips and semiconductor sectors, which require a large number of skilled professionals, including semiconductor designers. He expressed Malaysia’s willingness to train and educate Bangladeshi students to create opportunities for them in these industries. No decision to acquire Turkish tanks : CA’s press wing He also pledged to strengthen cooperation in developing skilled human resources. Mentioning the growing global demand for halal food, Othman said Malaysia’s halal food market is currently valued at 113 billion dollars and it would reach 6 trillion dollars by 2031. As a Muslim-majority country, Bangladesh should prepare for this lucrative market, he said adding the Malaysian government will provide full support in halal food production and certification. In the fiscal year 2023-24, bilateral trade between Bangladesh and Malaysia amounted to 2,878.20 million dollars. Dr Yunus urges Malysia to issue multiple-entry visas for Bangladeshi workers Bangladesh imported goods worth 2,583.70 million dollars from Malaysia and exported products worth 294.50 million dollars to the Southeast Asian nation.

The government is committed to making business processes easier and providing full support to traders, Commerce Adviser Sheikh Bashir Uddin said on Tuesday. His remarks came during a meeting on rice stock and import situations at the Ministry of Commerce. “Any problems faced by traders will be addressed promptly,” the adviser assured. The meeting was attended by Food Adviser Ali Imam Majumder along with key stakeholders. Bashir Uddin highlighted the government's focus on tackling the price disparity between wholesale and retail rice markets, which has drawn public and industry concern. “We aim to identify the root cause of this disparity and implement solutions for a stable market environment,” he said. While prices of most products have decreased, rice prices have seen a marginal rise. The adviser expressed optimism that rice prices would stabilize soon. No change in duties until Ramadan ends: Finance Adviser Food Adviser Ali Imam Majumder provided an update on the country’s food stock, which currently exceeds 1.2 million tonnes. Additionally, 100,000 tonnes of rice are expected to arrive from Myanmar this month as part of the government’s diversified import strategy. The government is procuring rice from multiple neighboring countries under Government-to-Government (G2G) agreements to avoid over-reliance on a single source, Majumder said. He also discussed ongoing measures to support low-income families, including the distribution of rice through the Trading Corporation of Bangladesh (TCB) and the Open Market Sale (OMS) program. “Fifty thousand families are receiving 30 kg of rice each under the food-friendly program,” he noted. Deputy Governor of Bangladesh Bank Md Habibur Rahman announced that banks have been instructed to extend full cooperation in opening Letters of Credit (LCs) for food imports. The meeting was attended by high-ranking officials, including Food Ministry Secretary Md Masudul Hasan, Tariff Commission Chairman Dr. Moinul Khan, Commerce Ministry Secretary Md Abdur Rahim Khan, TCB Chairman Brigadier General Md Mostafa Iqbal, and rice importer Aditya Majumdar.

Commerce Adviser Sheikh Bashiruddin has stressed the role of Bangladeshi entrepreneurs in the UK in strengthening commercial ties between the two and urged them to invest in Bangladesh. "Invest in Bangladesh and contribute to the country’s development. Your role is vital in enhancing trade relations between our nations," he said. The adviser made the call when leaders of the UK Bangladesh Catalysts of Commerce and Industry (UKBCCI) met him at his office on Sunday. Saudi’s Aramco willing to build refinery in Bangladesh The adviser invited investments in jute products, tourism, pharmaceuticals, and telecommunications, assuring that Bangladesh currently offers a favorable investment atmosphere with no barriers. He affirmed the government’s commitment to ensuring all necessary facilities for investors. Discussions focused on bilateral trade relations and investment opportunities in Bangladesh. During the meeting, UKBCCI representatives expressed their interest in investing in Bangladesh’s National Tea Board, the state-owned telecom sector, and artificial intelligence in education. EC will ensure everyone's voting rights: CEC They also proposed establishing a special agricultural zone, an agriculture-based export processing zone (EPZ), to boost seafood exports, food processing, and green farming facilities. Speakers at the meeting included UKBCCI Chairman Iqbal Ahmed, President MG Maula Miah, Founding President Bazlur Rashid, and UK House of Commons Member of Parliament Dr. Rupa Huq.

Commerce Adviser Sheikh Bashir Uddin has expressed grief over the passing of AF Hassan Ariff, adviser to the ministries of Land, and Civil Aviation and Tourism under the interim government and a former attorney general. In a condolence message today, Sheikh Bashir Uddin prayed for the eternal peace of the departed soul and extended his heartfelt sympathies to the bereaved family. Foreign Affairs Adviser mourns death of AF Hassan Ariff Earlier in the afternoon, Hassan Ariff passed away at a private hospital in the capital after suffering a heart attack.