United News of Bangladesh

Enhanced bilateral cooperation in logistics, infrastructure and investment topped the agenda during a meeting between the Dhaka Chamber of Commerce and Industry (DCCI) and a visiting Singaporean business delegation on Thursday. The 12-member team was led by Derek Loh, non-resident High Commissioner of Singapore to Bangladesh. They met with DCCI President Taskeen Ahmed at the Chamber office during their visit. Welcoming the delegation, Taskeen Ahmed highlighted Singapore's significant investment footprint in Bangladesh, noting it is the second-largest foreign investor with an investment of nearly USD 1.78 billion across various sectors. The bilateral trade between the two countries reached USD 2.64 billion in the last fiscal year. Taskeen said Singapore’s global reputation in efficient port and logistics management presents strong potential for collaboration. Adoption of IFRS can open doors to international finance, investment: DCCI President He invited Singaporean investors to explore opportunities in Bangladesh’s port operations, logistics, infrastructure, renewable energy, IT, agriculture and healthcare sectors. Taskeen also urged Singapore’s support in enhancing the skills of Bangladeshi SME entrepreneurs to increase export competitiveness. Technical assistance in modernising the jute and agriculture sectors was also sought. On the global front, Taskeen welcomed the US decision to suspend the imposition of additional tariffs for 90 days, calling it a relief for global trade, while hoping for a long-term resolution through diplomatic dialogue. High Commissioner Derek Loh emphasised the importance of reducing production and logistics costs to make business operations more competitive. He expressed Singapore’s interest in working closely with Bangladesh to boost port efficiency and infrastructure development. Derek Loh also stressed the need for reforms and automation in Bangladesh’s revenue sector and highlighted the benefits of adopting ESG (Environmental, Social and Governance) standards in industries. While ESG compliance may initially increase investment costs, Loh said it will improve export competitiveness in the long term. DCCI proposes single-digit VAT rate in budget recommendations He added that Singapore is keen on supporting Bangladesh in strengthening its logistics capacity and has recently increased investments in renewable energy, citing its potential to lower production costs. DCCI Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman, and members of the Board of Directors were also present at the meeting.

Chief Adviser Prof Muhammad Yunus has urged Argentina to build on the emotional footballing ties that Bangladesh has with the country to increase bilateral cooperation in different fields, including trade. "We have an emotional connection. We can build on that. The ground is ready. We can take it to other fields," Dr Yunus said on Sunday, noting Bangladeshi people's overwhelming support for the Argentina football team. The Chief Adviser made the remarks when Argentine Ambassador to Bangladesh Marcelo Cesa called on him at his office in State Guest House Jamuna. Dr Yunus urged the Ambassador to look for the opportunity of setting up ventures on full ownership or joint venture for cotton related trade and investment with Bangladesh and explore potential for energy cooperation. Ambassador Cesa told the Chief Adviser that Argentina and Bangladesh have many areas of cooperation unexplored, which can hold tremendous potential for the two countries. Read: Argentina Ambassador meets BGMEA Administrator to discuss trade and investment potential He also requested to consider opening the Embassy of Bangladesh in Buenos Aires, Argentina. "The good feeling that we have, we can make good use of it for the benefit of the two countries," he said. The Ambassador noted that Argentina currently has nearly 700 million US dollars of trade now in their favour and that they want to make it balanced by increasing imports from Bangladesh.  

US Assistant Secretary of State for South and Central Asian Affairs Donald Lu arrived here on Tuesday (May 14, 2024) to "strengthen bilateral cooperation" and to demonstrate US support for a free, open, and prosperous Indo-Pacific region. In Bangladesh, he will meet with government officials, civil society leaders, and other Bangladeshis to talk about deepening Bangladesh-US cooperation, including deepening the economic ties in ways that the two countries can collaborate further to address climate issues, said Principal Deputy Spokesperson at the US Department of State Vedant Patel. Lu is here as part of his tri-nation tour of the region. He earlier visited India and Sri Lanka. This is also his first visit to Bangladesh after Awami League won the January 7 elections to form government for the third straight term. UK's BII supports MSMEs, women entrepreneurs in Bangladesh with $50m debt commitment to BRAC Bank "He is there to strengthen bilateral cooperation with each country and to demonstrate U.S. support for a free, open, and prosperous Indo-Pacific region," Patel said from Washington.

The United States has reiterated that they are keen to enhance relationship and cooperation with Bangladesh in key areas, including security and trade. “Last year we celebrated an anniversary as it relates to our bilateral relationship with Bangladesh, and this year in 2023 we look forward to deepening that relationship, and there are a number of areas in which we intend to deepen that cooperation,” Principal Deputy Spokesperson at US State Department, Vedant Patel, said. Also read: Italy to take skilled workers from Bangladesh, contain illegal migration Responding to a question during a regular briefing at the US Department of State on June 7, he said that in addition to security cooperation, there is potential for enhanced cooperation on climate, trade and many other issues. Also read: US consistent on the need for free, fair election in Bangladesh: White House “So of course, this is an issue that continues to be of importance to us. I have spoken about this a great deal to some of your colleagues. One of them, of course, is the opportunity for security cooperation with Bangladesh,” Patel said when asked about boosting US engagement in counterterrorism in Bangladesh. Also read: Won’t get into specific election results in another country, Vedant Patel says on Gazipur City Polls

Iran’s Deputy Minister for Foreign Affairs Dr. Mehdi Safari on Thursday met with Bangladesh’s State Minister for Foreign Affairs Shahriar Alam and discussed bilateral cooperation as well as cooperation under IORA. The Iranian Deputy Minister mentioned that Foreign Office Consultation and meeting of Joint Economic Commission should be held at mutually convenient time to further strengthen relations in the field of trade, investment, economy, energy, chemical fertilizer and food security. Shahriar Alam briefed him about trade potential between Bangladesh and Iran and urged for more visits of trade delegations. Read more: Rally held in Dhaka in solidarity with protesters in Iran They also discussed details about mutual cooperation under IORA. Shahriar Alam thanked the Iranian Deputy Minister for his participation and his delegation at IORA. The meeting was held at the InterContinental Dhaka on the sidelines of IORA Ministerial Meeting. Read more: Bangladesh an emerging big economic force: Iranian Ambassador

Russian President Vladimir Putin has said Bangladesh and Russia will ensure further development of constructive bilateral cooperation in political, trade, economic, humanitarian and other spheres through joint efforts. He said the constructive bilateral cooperation undoubtedly meets the interests of their people and goes in line with the promotion of regional stability and security. President Putin emphasized that the relations between the two countries are based on the good traditions of friendship and mutual respect.  Also read: US committed to expanding ties with Bangladesh to thrive together: Blinken He said this in a message sent to President Abdul Hamid and Prime Minister Sheikh Hasina marking the Independence Day of Bangladesh on Saturday.  President Putin wished the President and the Prime Minister of Bangladesh sound health and success, as well as happiness and prosperity to all citizens of Bangladesh. Also read: UAE leaders greet president, PM on Independence Day

Bangladesh and the United Arab Emirates have specified 12 fields of bilateral cooperation at the 5th joint commission meeting between the two countries in Dhaka. The meeting, held in Dhaka, was co-chaired by Finance Minister A H M Mustafa Kamal and UAE State Minister of Foreign Affairs and International Cooperation Ahmed Ali Al Sayegh. The ministers joined the meeting virtually, while senior officials of both sides attended it physically. Read:Role of accounting profession important for fair spending: Mannan The fields identified for bilateral cooperation are i) Bilateral Trade and Economic Development , ii) Labour, Employment and Consular Relation, iii) Civil Aviation, Tourism and Culture, iv) Investment Opportunities, v) Increased support of Abu Dhabi Fund for Development (ADFD), vi) Power, Energy and Mineral Resources, vii) Information and Communication Technology (ICT), viii) Education, Science and Technology, ix) Marine Environment Development, x) Agriculture, xi) Health Services & Health Education, and xii) Humanitarian & Charitable Areas. The discussions were held in the spirit of understanding, friendship and mutual respect, meeting sources said. Read:Bangladesh Bank announces 4 pc export subsidy on bicycle, cement sheet, and MS steel The ministers virtually signed the agreed minutes of the meeting on behalf of their respective sides. Both sides agreed to hold the sixth meeting of the Joint Commission in Abu Dhabi. The date of the next meeting will be fixed later.

Bangladesh and Kuwait will chart out a comprehensive roadmap together in the next five years to boost bilateral cooperation in several sectors, including setting up an oil refinery. The decision came from a bilateral meeting held between Prime Minister Sheikh Hasina and her Kuwaiti counterpart Sheikh Sabah Khaled Al-Hamad Al-Sabah at the United Nations Headquarters on Tuesday, said Foreign Minister Dr AK Abdul Momen at a press briefing in New York. “The Kuwaiti Prime Minister thinks that Kuwait and Bangladesh should together prepare a roadmap and design actionable programmes in the next five years so that our relations are strengthened further,” he said.  Read: Hasina woos US investors; offers attractive facilities He said the foreign ministers of the two countries will sit in a meeting to chart out the roadmap. “We’ll work out the details.”  Noting that five big projects are now being implemented with finance from Kuwait fund, he said Bangladesh wants more and Kuwait is also keen for more projects.  “Kuwait wants to undertake different projects…. They’ve taken the initiative to establish an oil refinery in Bangladesh. Our Prime Minister (Sheikh Hasina) said we’ll surely provide them land for the refinery. We’ll be happy if they set up a refinery in our country,” said Dr Momen. He said a preliminary proposal came from Kuwait to set up a refinery and it will now be more solidified. “It was a very fruitful meeting. Because, this will give us a big push for developing a solid relationship with Bangladesh and Kuwait,” he said, adding that an excellent relation is now prevailing between the two countries. Some 20,000 Bangladeshi troops worked as peacekeepers in Kuwait since the gulf war.  Kuwait is grateful to Bangladesh forever due to its support during the Gulf War. Read: Act quickly to stop rollback of women’s progress: Hasina In this context, State Minister M Shahriar Alam, who was present at the briefing, said there is a contingent named “Bangladesh Contingent” in the Kuwait Army. Still, there are Bangladeshi soldiers in Kuwait to certify their lands as landmine-free areas following further inspection. Recollecting the role of Bangladesh Army, Kuwait Prime Minister said they were grateful to the Bangladesh government.   Earlier in the morning, Hasina joined a reception at the UNHQ where heads of state or government were present and then the opening session of the UNGA general debate began. In the beginning of the high-level general debate, the UN Secretary-General António Guterres, the President of 76th UNGA Abdulla Shahid (of the Maldives) and Brazil President Jair Bolsonaro delivered their speeches as per the tradition. Then US President Joe Biden delivered his speech in the general debate. Later, Hasina had a bilateral meeting with her Swedish counterpart Stefan Lofven at the bilateral meeting booth of the UN Headquarters.  Read: Hasina seeks SDGs roadmap for countries falling behind Since Stefan Lofven is a very famous name for labour rights, Hasina told him that Bangladesh made a tremendous development in the labour sector.  She said not a single RMG worker was terminated during the Covid-19 pandemic as the government announced stimulus packages for the RMG factory owners. Among the world's top 10 environment-friendly factories, seven industrial units are in Bangladesh, she added.  Hasina asked the Swedish Prime Minister to raise the progress of Bangladesh in labour rights internationally.

China on Tuesday urged the U.S. side to discard its outdated Cold War mentality and zero-sum game concept, correctly view and safeguard China-U.S. exchanges and cooperation in science, technology and culture, and do more to enhance mutual trust and cooperation between the two countries.

Cuba and Spain signed here Tuesday an agreement to further expand bilateral cooperation between the two countries.