Commerce Minister Tipu Munshi
FBCCI calls for Finnish companies to manufacture in Bangladesh
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Wednesday called upon Finnish companies to manufacture in Bangladesh.
Take opportunity of PIFIC to boost export: Commerce Minister
Commerce Minister Tipu Munshi on Wednesday called upon the country's businesses to take opportunities of the Public investment Facility for Infrastructure Constraints (PIFIC) to increase the export volume in the global market.
Bangladesh signs Preferential Trade Agreement with Bhutan
Bangladesh on Sunday signed its maiden Preferential Trade Agreement (PTA) with Bhutan to boost bilateral trade between the two countries.
UK proposes launching of Bangladesh-UK Trade, Investment Dialogue
The United Kingdom has formally proposed the launchig of a Bangladesh-UK Trade and Investment Dialogue to deal with relevant issues and help boost ties between the two countries.
Covid-19 stimulus: Finance Division to hold three view-exchange meetings
To cushion the effects of Covid-19 and bring the economy back to life, the government has announced 21 stimulus packages of over Tk1.21 lakh crore so far.
Commonwealth pvt sector targets green, digital recovery
Trade ministers and business leaders from across the Commonwealth will gather virtually on November 23 to examine how they can work together to spur a digitally-inclusive and green recovery in the face of devastating economic impacts linked to Covid-19.
Potato retail price to be fixed within 2/3 days, says Tipu Munshi
Commerce Minister Tipu Munshi on Thursday said that government will fixed retail price of potatoes with within next two and three days.
Price volatility of onion: What‘s govt response to deal with it?
As onion prices have soared again in the country due to its export ban by neighbouring India, Finance Minister AHM Mustafa Kamal says his ministry will consider the withdrawal of duty on its import to keep the local market stable.
"We'll definitely consider the matter [duty withdrawal] as we did in the past," Finance Minister AHM Mustafa Kamal told reporters on Wednesday, responding to a question on withdrawal of duty on onion import.
The Finance Minister was speaking at a virtual briefing session on the outcomes of two consecutive meetings of the Cabinet Committee on Economic Affairs Cabinet Committee on Public Purchase.
He made the remarks when reporters drew his attention to Commerce Minister Tipu Munshi's call to the Finance Ministry to withdraw the existing duty on onion import against the backdrop of India's ban on export of the bulb to Bangladesh and other countries.
The Indian ban on onion export to Bangladesh has triggered an unusual upward trend in its prices. The onion price shot to about Tk 100 from the normal price of Tk 30 in the local market. A bulk import of such an essential item usually comes from the neighbouring country.
The Finance Minister said the government is very careful about the adequate supply of all essential commodities, not only about onions. "We, including the Prime Minister, don't expect any volatile situation of any essential commodities."
Commerce Minister
Commerce Minister Tipu Munshi on Wednesday said there is no need to panic over onion price as there is adequate stock of it.
"Our country has a demand of 1 million tonnes of onion till next season. In contrast, we've about 600,000 tonnes. There is shortage of 400,000 tonnes," he said at a press briefing on onion stocks, supply and price situation at the secretariat.
Minister Munshi said there will be a bit problem as onion import has been suddenly stopped from India. The government is trying to bring onion from other markets.
"Onion will be brought from other countries, including Turkey, Holland in the next 30 days. Then there will be no more problem," he said.
Munshi said unscrupulous traders have taken advantage of the fact as India has stopped exporting onions. Consumers are also buying more onions, which is creating panic.
"Don't panic. We'll take action against dishonest traders," he said.
Decision to import onion fromTurkey, Egypt
The government has decided to import onion from multiple sources to ensure enough supply of the popular cooking ingredient in the local markets.
In line with the decision, the government has already taken steps to import onions from Turkey and Egypt, the Ministry of Foreign Affairs said.
The consignments are expected to reach Chittagong port early next month.
India on Monday prohibited the export of all varieties of onion except in cut, sliced or powdered form.
Don’t be panicked over onion price: Commerce Minister
Commerce Minister Tipu Munshi on Wednesday said that there is no need to panic over onion price as there is adequate stock.
Speakers highlight benefits of enhanced Dhaka-Delhi connectivity
Commerce Minister Tipu Munshi on Thursday said that and enhanced connectivity with India will help Bangladesh achieve its SDG targets faster along with economic development.