Deputy commissioners (DCs) have been asked to remain vigilant so that no one can manipulate price of daily essentials during the month of Ramadan, Commerce Minister Tipu Munshi said today. The minister said this while talking to reporters after the fourth meeting with DCs at Osmani Memorial Auditorium in the city. “I have asked them to take strict measures so that no one can take advantage of the price of necessary items during Ramadan,” he said. He also asked to remain aware about consumers rights. “The assistance of DCs is needed to expand the trade and many have alleged that they failed to get fair price of rawhide during Eid-ul-Azha. Please take necessary steps in this regard,” he said. Replying to a question about monitoring the daily essentials’ markets, Tipu said the DCs have been asked to implement all steps taken by the government. Also read: Minimum or zero LC margin for imports of daily commodities for Ramadan, says Tipu Munshi The three-day annual conference of the Deputy Commissioners (DCs) began on Tuesday. This time there will be a total of 26 sessions, including 20 working sessions, with various ministries at the DC conference that will end on Thursday.    

The government has taken adequate measures to ensure sufficient supply of essentials and keep the market stable during Ramadan, said Commerce Minister Tipu Munshi on Sunday. “There will be no crisis of daily essentials and there will be no price hike during Ramadan,” he said while speaking at a programme after inaugurating the month-long Industry and Trade fair at Rangpur Cricket Garden in Rangpur city. He also urged the people of the country to refrain from purchasing many products at a time during the month of Ramadan. The government has taken an initiative to purchase more products at government and private levels and already many products have reached the country while some are on the way to Bangladesh and process is underway to buy more, said the minister. If the consumers buy normal quantity of their essential products then there will be no problem, he said. Also read: Measures in place to ensure supply of essentials in Ramadan: Tipu Munshi Issuing a note of warning, Tipu said stern action will be taken if traders create artificial crisis after hoarding goods and tryto increase the prices of the goods during the month of Ramadan or in the other months. A number of meetings are being held with the people engaged in import, manufacturing and wholesale traders ahead of Ramadan and it will continue as the government is providing all-out support to the business people as per their demands, said the minister.  

Commerce Minister Tipu Munshi said on Wednesday that the initiative has been taken to stock seven daily essentials and ensure adequate supply to keep their prices stable during the fasting month of Ramadan. The minister said this while speaking at the 5th meeting of the ‘Task Force on Review of Commodity Prices and Market Situation’ held at the conference hall of the Ministry of Commerce at the Secretariat on Wednesday. Read more: Govt to soon fix prices of 9 daily essentials He said necessary measures have been taken to ensure supply of edible oil, sugar, lentil, onion, dates, rice, and wheat as per the demand. He said despite some difficulties in LC opening due to the current global situation necessary action has been taken to disburse foreign currencies through banks for LC opening to facilitate imports of essential commodities. “The government of India has been informed not to stop the export of some essential items without prior notice. In addition, the Indian government has ensured supply of essentials as per Bangladesh's requirement,” the minister said. He reassured that there will be no shortage of the essential commodities and the prices will remain normal considering all these aspects. “Market monitoring will be intensified to keep the situation normal and there is no need to buy large quantities of these goods at once before the start of the Ramadan. The country's media can play an important role in creating public awareness in this regard,” the minister said. Read more: Cabinet asks for a realistic assessment of price situation of essentials and tasks ahead Prime Minister's Advisor on Private Industry and Investment Salman F Rahman attended the meeting while Senior Secretary of the Ministry of Commerce Tapan Kanti Ghosh presided over the programme. Bangladesh Trade and Tariff Commission Chairman Mahfuza Akhtar, Bangladesh Competition Commission Chairperson Pradeep Ranjan Chakraborty, Bangladesh Trading Corporation of Bangladesh (TCB) Chairman Brigadier General Md. Ariful Hasan, Director General of National Consumer Rights Protection Directorate AHM Shafiquzzaman, NBR’s representative Khandkar Nazmul Haque, Director (Foreign Exchange Operations) of Bangladesh Bank Abdul Haque, First Vice President of FBCCI Mostafa Azad Chowdhury Babu, representative of Consumers Association of Bangladesh (CAB) Kazi Md. Abdul Hannan, representatives of TK Group, City Group and various intelligence and security agencies were also present at the meeting.

Commerce Minister Tipu Munshi said India is Bangladesh’s great friend and business partner. He hopes that bilateral trade with India will increase significantly between the countries if some measures would be taken to make easy trade. Read more: E-commerce has a billion-dollar prospect in Bangladesh: Tipu Munshi Tipu Munshi said this during a views exchange with Pranay Verma, the newly appointed High Commissioner of India in Dhaka, in his office at the Bangladesh Secretariat on Tuesday. Bangladesh is now able to supply international quality products at relatively low prices. For this reason, it is necessary to increase the capacity of the land ports on the India-Bangladesh border and complexity needs to be removed to increase trade, the commerce minister said. The commerce minister said that the border huts have created a lot of interest among the people of both countries. People of the seven sister states of India have benefited. This makes the people of both countries happy. Read more: Minimum or zero LC margin for imports of daily commodities for Ramadan, says Tipu Munshi “If visa issuance becomes easier, people's movement will increase. It will benefit the people of both countries. Bangladesh is interested in increasing the export of products to the Indian market, for which the Indian government needs sincere cooperation,” he said. In response India's newly appointed High Commissioner Pranay Verma said Bangladesh is a good friend of India. The Indian government has always given more importance to Bangladesh. “India's business, trade, and cooperation with Bangladesh have increased a lot. The communication system has improved. Along with air, road, and sea connectivity has improved. Bangladesh's communication with India's bordering states has become easier,” he added. As a result, trade between the two countries has increased. Both countries have benefited due to the transportation of goods through containers by rail. The people of both countries have benefited from the establishment of the road as well as train connectivity, Verma said.

Speakers at a discussion have said that proper regulatory measures could help boost the e-commerce business in Bangladesh by creating a sustainable image of the sector already wounded by some bad examples of fraud in the recent past. They say the development of the sector is helping the economy in ways as the sector is set to expand further over the next few years. Citing some research work, they say the business-to-customer e-commerce market in Bangladesh is expected to grow by 17.61% on an annual basis, aimed at reaching Tk65,966 crore in 2022. The e-commerce market size in 2021 was about Tk56,870 crore and will be around Tk1.5 lakh crore by 2026, they say adding that the sector is gaining momentum through the country’s registered e-commerce companies, non-registered online platforms and social media-based trading pages where mostly young people are engaged as entrepreneurs. Read more: Tipu Munshi expects sugar prices to drop in line with import duty

Commerce Minister Tipu Munshi has said he is confident that bank loans given to women entrepreneurs are repaid in 99 percent cases. “They don’t run away with the money like the others, at least,” he said. The commerce minister said this while speaking as the chief guest at an event on the occasion of International Women's Entrepreneurship Day and 5th founding anniversary of Women Entrepreneurs Network for Development Association (WEND) at Gulshan Shooting Club Auditorium on Saturday (November 19) night. Tipu Munshi said, “We should support our women entrepreneurs. The path for women will not be easy. But they must go forward with courage.” Read: Sugar prices to be stable soon, says Commerce Minister "We will take initiative to ensure market access for women entrepreneurs," Munshi said. Jasim Uddin, President of FBCCI, said that women entrepreneurs face obstacles in getting loans. FBCCI is negotiating with Bangladesh Bank so that they can get loans easily. "We have opened a wing on behalf of FBCCI to provide business support to new entrepreneurs. All information can be found in that wing. We focus on innovation and creating new designs for women entrepreneurs," he added. European Union Ambassador in Dhaka, Charles Whiteley, said that it is necessary to ensure that women can easily get bank loans to do business. "I recently visited Chattogram and Rangamati. Many women there said they have business ideas," he said. But they do not own any land. So they are not able to use the land as collateral, and as a result, they are not getting loans, he added. WEND President Dr. Nadia Binte Amin, USAID Feed the Future Bangladesh Trade Activity Chief Mark Shaiman, Export Readiness Fund (ERF) Program Team Leader Dave Runganaikaloo, also spoke at the function. Read: Target $100 bn export earnings by 2026: Commerce Minister At the event, WEND presented the 'Special Women's Empowerment Award' to Bangladesh Export Development Bureau (EPB) for taking important steps in empowering women entrepreneurs. Commerce Minister Tipu Munshi handed over the award to EPB Vice Chairman AH Ahsan.

Sugar production will rise and prices come down soon as necessary measures, including increasing gas supply, have been taken,  said Commerce Minister Tipu Munshi on Thursday. Sugar production has decreased slightly due to low pressure in gas supply, said the minister at a meeting of the taskforce on reviewing commodity prices and market condition at the Secretariat. Read more:Govt allowing import of 1 lakh tons of sugar to keep price stable “However, there is sufficient sugar in our stock,” he added. The government has taken all kinds of steps to keep the supply of essential commodities stable, Tipu said, adding there no risk of commodity crisis currently in the country. “Five crore low-income people of the country are being provided with oil, lentils, and sugar every month at affordable prices through one crore cards at the instruction of Prime Minister Sheikh Hasina, said the minister adding, a large number of the people of the country are benefiting from this. Read more: Wheat being imported from Canada, market to be stable soon: Tipu Munshi Strict monitoring is continuing to keep the supply, stock and prices of the country's daily necessities stable, he added.

Bangladesh's Commerce Minister Tipu Munshi has said traders have started importing wheat from Canada and other countries after the closure of the Ukraine-Russia market due to the ongoing war. While briefing reporters, he said the wheat issue was raised at the fourth meeting of the task force on reviewing commodity prices and market conditions at the Secretariat on Thursday (November 03, 2022). “One of the major traders said one of his shipments of 55,000 tons of wheat was stuck at Turkey port but it has now started for Bangladesh. As Ukraine was our main supplier of wheat, the price might be higher for importing from Canada to meet demands for now,” he said. Read more: Govt to import 500,000 mt wheat Russia, 330,000 mt of rice from India, Vietnam Tipu Munshi said there is a little shortfall in the amount of wheat to be imported and supply will normalize if Ukraine and Russia lift the ban on export. The wheat being imported from Canada is also of good quality, he added. Regarding the price hike of pulses by Tk 10 per kg in the last few days, the minister said, impacted by the global price hike the pulse supply has declined a bit.  “The Tariff Commission will look into this and see if the price increase is reasonable,” he added. Read more: Russia keen to export 3 lakh mts wheat to Bangladesh He also said due to rising dollar prices, Bangladesh is not getting the benefit of falling global prices of rod, and cement at the moment. “People's main focus is on food. If the food production is right, compromises can be made in other sectors,” Bangladesh's commerce minister said.

Commerce Minister Tipu Munshi on Sunday urged energy-rich Brunei to invest in Bangladesh taking advantage of facilities that the country offers for the foreign investors. “Bangladesh can be the right place for investment. My request will be to invest in Bangladesh,” he said while speaking as the chief guest at a business meeting with Brunei’s Finance Minister Dr Awang Haji Mohd Amin Abdullah in a city hotel. The Commerce Minister mentioned countries like India and China where Bangladesh has the opportunity to export whatever it wants apart from its own market of 170 million people.  He also urged the Brunei Finance Minister to remove the discriminatory rule for Bangladeshi immigrant workers who have to deposit $1600 while the amount is only $500 for Malaysian workers. Highlighting some of the major benefits provided in Bangladesh foreign investment policies, the minister informed, besides the gigantic domestic market, investing in Bangladesh will offer additional access to the Indian and Chinese market as these two markets allow most of the made in Bangladesh products duty free. Read: Brunei Sultan due Saturday; 3 cooperation deals likely to be signed State Minister for Foreign Affairs Md Shahriar Alam also spoke at the meeting chaired by President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md Jashim Uddin. He also highlighted the contributions of Bangladeshis, especially that of the construction workers. The State minister urged Brunei to appoint more Bangladeshi manpower as Bangladesh has been focusing more on creating skilled manpower. Bangladesh may offer a dedicated economic zone for ASEAN countries if Brunei provides capital and marketing assistance, he said. Issues related to trade and investment, recruitment of skilled workers from Bangladesh and using port facilities were discussed in the meeting. Dr Amin was appointed as the Minister at the Prime Minister's Office and Minister of Finance and Economy II on September 27, 2018 and re-appointed on June 7, 2022. Minister Dr Amin said the two countries have the opportunity to work together on trade and investment fronts and explore opportunities to create a regional hub in terms of transportation. “We are expanding our seaports at the moment.” A memorandum of understanding (MoU) signed between ZES Trading and Ghanim International Corporation was signed to introduce Halal food from Brunei in the Bangladeshi market. Dr Nur Rahman from Ghanim International and FBCCI director Dr Kazi Ertaza Hassan, CIP signed the MoU on behalf of their organizations. Dr Amin informed that Brunei port is nearer to China, and therefore using the port as a transshipment hub would save time and money of Bangladeshi businesses. Minister of Home Affairs Ahmaddin bin Haji Abdul Rahman praised the contribution of the skilled Bangladeshi manpower in keeping Brunei economy afloat. FBCCI President Jashim Uddin urged the visiting delegation from Brunei to consider Bangladesh as their next trade and investment destination. “We have ongoing development projects to facilitate investment,” he said, mentioning deep seaports, 100 special economic zones, hi-tech parks, tourism parks, nuclear power plant, metro rail, LNG terminal and construction of road and rail on bringing the whole country under a common network. “So, our story is now very different from what it was before and Brunei can choose Bangladesh as their next destination for trade and investment,” said the FBCCI President. Read: Momen looking forward to Sultan of Brunei's visit

Commerce Minister Tipu Munshi on Saturday said Indian businesses have expressed their interest in investing in some sectors like fuel, transport and agro processing in Bangladesh. He said this while responding to queries from journalists at his residence on Central Road in Rangpur city. Minister Munshi said the Indian investors expressed the interest and sought cooperation while holding meeting with Prime Minister Sheikh Hasina during her a four day state visit in the neighbouring country. Upon the discussion, the premier also assured them of offering of all sorts of cooperation in doing business, he said. Terming the prime minister’s visit as effective, he said the Indian Adani Group proposed to invest Tk 4,000 crore to the Bangladesh. “Indian Prime Minister Narendra Modi also sought Bangladesh beside it to go ahead,” the minister said.  He hoped that the Tessta water sharing deal will be done within a short time as a positive response from the West Bengal came in this regard – although he didn’t Replying to a question, the commerce minister said the price of soybean oil will be decreased one more step after adjusting with the global market soon. Read: Govt doing its best to rein in prices of essential commodities: PM Munshi also said that prices of essential commodities will be cut as initiatives have been taken to export food gains from countries including Russia and Ukraine. Elaborating the government measures, he claimed that ten million people of the country have been enjoying cheap rates of essential commodities through Trading Corporation of Bangladesh across the country.