trade deal
Comoros looks for trade deal with Bangladesh
Foreign Minister of Comoros Dhoihir Dhoulkamal has underlined the importance of signing a trade agreement between the two countries.
Mentioning that both Bangladesh and Comoros are growing economies, the Comoran Foreign Minister said the two countries can enhance cooperation in trade and economic sectors.
Read: Dhaka, Colombo look for quick conclusion of PTA
Foreign Minister Dhoihir Dhoulkamal met his Bangladesh counterpart Dr AK Abdul Momen at the State Guest House Padma on Tuesday and discussed the issues of mutual interest.
The Foreign Minister of Comoros is visiting Dhaka to participate in the 21st Indian Ocean Rim Association (IORA) Council of Ministers and related meetings.
He highly commended the excellent economic performance of Bangladesh and mentioned that Comoros would consider importing RMG and other products from Bangladesh.
Bangladesh exports various goods to the African countries, including RMG, leather, jute and pharmaceutical products.
Dr Momen thanked the Foreign Minister of Comoros for the support of the Comoros government for the chairship of Bangladesh at IORA.
He requested the Comoran side for extending support at the candidature at the IMO and Human Rights Council.
Dr Momen mentioned that Bangladesh has achieved remarkable progress in the socio-economic sectors, and maintained a robust growth in the economy during the last decade in addition to achieving an excellent success in the agricultural sector.
Read: France firmly with Bangladesh over Rohingya issue: FM Momen
The Comoran Foreign Minister also proposed that the Comoran officials may be trained in natural gas exploration fields at Bangladesh institutes and showed interest in visiting some pharmaceuticals and garment industries here.
The Bangladesh side proposed that there may be direct trade of goods like spices and vanilla from Comoros to Bangladesh.
The two sides also expressed intention to continue cooperation under the framework of IORA as its members alongside exchanging visits by business delegations.
3 years ago
Stepping up Myanmar coup penalties, US suspends trade deal
The United States on Monday suspended a trade deal with Myanmar until a democratic government is restored in the Southeast Asian country after a Feb. 1 coup followed by a violent crackdown on protests.
The military overthrew the elected government, jailed Aung San Suu Kyi and other civilian leaders and has killed and imprisoned protesters in the country also known as Burma.
“The United States supports the people of Burma in their efforts to restore a democratically elected government,'' U.S. Trade Representative Katherine Tai said in a statement. “The United States strongly condemns the Burmese security forces’ brutal violence against civilians. The killing of peaceful protestors, students, workers, labor leaders, medics, and children has shocked the conscience of the international community.''
Also read: Biden orders sanctions against Myanmar after military coup
Tai's office said the United States was immediately suspending “all U.S. engagement with Burma under the 2013 Trade and Investment Framework Agreement.'' Under the agreement, the two countries cooperated on trade and investment issues in an effort to integrate Myanmar into the global economy, a reward for the military's decision to allow a return to democracy — a transition that ended abruptly with last month's coup.
Tai’s announcement Monday doesn’t stop trade between the two countries.
Also read: UN official: Myanmar people want UN sanctions, peacekeepers
But the United States is separately imposing economic sanctions on Myanmar. In response to the military takeover, for instance, the United States and the United Kingdom had earlier imposed sanctions on two conglomerates controlled by Myanmar's military, Myanmar Economic Holdings Ltd. and Myanmar Economic Corp.
White House press secretary Jen Psaki noted that the U.S. has also slapped export controls on Burma and added several Burmese businesses to a trade blacklist. “We, of course, continue to work with our allies and partners and like-minded institutions, as we condemn the actions of the military, call for the immediate restoration of democracy, and hold those who seize power accountable,” she said.
Also read: Countries curb diplomatic ties, weigh sanctions on Myanmar
Two-way trade between the two countries doesn't amount to much: Myanmar last year was the United States' 84th biggest partner in the trade of goods such as automobiles and machinery. U.S. goods exports to Burma came to just $338 million; imports to $1 billion.
But the U.S. and other wealthy nations are major importers of garments and other household items from Myanmar factories, mostly owned by companies from other countries, that have led the modernization of the impoverished country's economy, helping provide millions of jobs.
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