Trade between Bangladesh and India through the Benapole land port resumed on Monday morning after a five-day closure marking Durga Puja, the largest religious festival of Hindus. Shamsur Rahman, president of the Benapole Clearing & Forwarding agent, said the land port again became vibrant with activities. Read more: 479 MT hilsa exported to India through Benapole Hundreds of Indian trucks carrying goods started entering the land port in the morning as those were stranded at the Indian end for the last five days, he said. Imtiaz Bhuiyan, Officer-in-Charge of Benapole Checkpost Immigration police, said the movement of passengers between the two countries with valid documents remained uninterrupted.

Bangladesh and Saudi Arabia will hold the second political consultations in Riyadh on July 1 which is likely to highlight issues related to trade, investment, Bangladeshi migrants, Rohingya crisis and other issues of mutual interests, officials said on Sunday (June 30, 2024). Foreign Minister Hasan Mahmud and Saudi Foreign Minister Prince Faisal bin Farhan Al Saud will lead the Bangladesh and Saudi delegations respectively at the high-level meeting that will be held at the Saudi Ministry of Foreign Affairs. Issues related to education, health, environment and climate change, ICT and tourism are also likely to be discussed in the meeting. FM Hasan is scheduled to reach Riyadh early Monday on a two-day official visit, a senior official at the Ministry of Foreign Affairs told UNB. The foreign minister is scheduled to return home on July 3. Private Industry and Investment Adviser to the Prime Minister Sheikh Salman F Rahman will be part of the delegation as investment issues may come up in a big way. Additional Foreign Secretary (bilateral East and West)  Md Nazrul Islam, Bangladesh Ambassador to Saudi Arabia Mohammad Javed Patwary, Director General of West Asia Wing Shafiqur Rahman and Director Nafisa Monsur will accompany the foreign minister as part of Bangladesh delegation members. Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud, who is also the Prime Minister of the Kingdom of Saudi Arabia, is likely to pay an official visit to Bangladesh later this year. This would be a landmark event in the history of bilateral relations between Bangladesh and Saudi Arabia leading to the consolidation of ties, especially in trade and commerce, investment and economic cooperation, according to official on both sides. The Saudi crown prince has accepted the invitation extended by Prime Minister Sheikh Hasina to visit the country this year, and both sides may discuss the issue further for finalization of details, a Bangladesh official told UNB speaking on condition of anonymity. PM’s upcoming China visit a reflection of maintaining balanced diplomacy: Foreign Minister It would be the first ever visit of any Saudi crown prince to Bangladesh after 1985 when the then Saudi Crown Prince Abdullah bin Abdulaziz visited Dhaka. A good number of bilateral instruments -- MoUs and agreements – are likely to be signed during the visit of the Saudi leader, which would strengthen the bilateral ties between the two countries significantly, both sides hope. The first ever political consultations between Bangladesh and Saudi Arabia were held on March 16, 2022 in Dhaka. At the meeting, both the leaders reaffirmed the bond of enduring ties and friendship existing between the two brotherly countries and expressed satisfaction over the state of bilateral cooperation. They noted the understanding and goodwill existing at the political level between the two countries and emphasised the need for devising means and ways to translate this into concrete outcomes. Both sides further stressed the need to coordinate and work together at functional levels to carry forward the policy decision for mutual benefit of the peoples of the two countries.  Several Saudi companies have already invested in some sectors in Bangladesh and some other companies are considering greater engagement in various areas. Bangladeshi immigration emerges as UK election issue after Labour leader’s comments spark outrage The envoy said about 2.8 million Bangladeshis working in Saudi Arabia are also making significant contributions to Saudi and Bangladesh economies. In May this year, the Kingdom of Saudi Arabia (KSA) wanted to know the progress of efforts in renewing the passports of the Rohingyas who went to the KSA back in 1973-74 with Bangladeshi passports. Saudi Deputy Interior Minister Dr Nasser bin Abdulaziz Al-Daoud discussed the issue with Home Minister Asaduzzaman Khan during a bilateral meeting at that time. Read more: Saudi Crown Prince exchanges greetings with Hasan Mahmud

The government plans to substantially increase public investments across key sectors such as road, rail, bridge, shipping, civil aviation, and telecommunications. These initiatives are strategically aimed at transforming Bangladesh into an upper middle-income country by 2031 and a smart developed country by 2041. According to the 'Medium Term Macroeconomic Policy Statement (2023-24 to 2025-26)', the government plans to allocate Tk 963.9 billion in the fiscal year 2024-25, escalating to Tk 1060.3 billion in 2025-26. This increase follows an investment of Tk 876.3 billion for the current fiscal year, emphasising a significant boost in funding for various development programs. The policy document highlights the critical role of an integrated and cost-effective transport and communication system in fostering economic growth, enhancing trade, and ensuring social integration. It states that an efficient transport and logistics system is essential for smooth supply chain management and to effectively compete on a global scale. Transport strike called off after 12 hrs in Ctg Specifically, the Road Transport and Highways Division is implementing projects to establish an advanced and sustainable road transport system, including the construction of multi-lane highways, elevated expressways, and new bridges.  These efforts are complemented by plans to widen 1100 km of highways, repair and maintain 1250 km, and rebuild 450 km of highways, along with 7300 meters of bridges and culverts. In Dhaka city, the government is focusing on reducing traffic congestion by advancing the metro rail lines, a move poised to significantly improve urban mobility. The railway sector is also undergoing transformation under a 30-year master plan aimed at making it a dependable, affordable, modern, and people-friendly mode of transport. Initiatives include connecting every district with a railway network, upgrading tracks, and modernising the signaling system. By FY 2025-26, the government aims to construct 275 km of new railway track and reconstruct 210 km of existing lines. The document also outlines ambitious plans for the water transport system, noting its importance in the integrated multi-modal transport framework. The Ministry of Shipping is executing extensive programs for the enhancement of inland waterways, seaports, and land ports, along with significant dredging efforts to maintain river navigability. Extortion in transport sector will never stop completely: Quader Amidst rising demand for air travel, both domestically and internationally, the Ministry of Civil Aviation and Tourism is undertaking projects to expand passenger handling capacities and enhance facilities at airports. These upgrades are part of a broader strategy to position Bangladesh as a regional hub for international passenger transport. These comprehensive plans not only aim to modernize Bangladesh's infrastructure but also serve as a cornerstone for the country's ambitious economic development goals.

Each year, Guangzhou becomes the focal point of international trade through the China Import and Export Fair, famously known as the Canton Fair. The 135th session of Canton Fair officially opened its doors on April 15, 2024. This mega event serves as a vital platform for both established and emerging markets, promoting a diverse range of products from basic raw materials to advanced electronics and machinery. Strategic Importance and Government Support Zhou Shanqing, Director General of the Canton Fair Press Center and Deputy Director General of China Foreign Trade Center, detailed the extensive preparations that underscore the significance the Chinese government places on this event. Praised by Chinese President Xi Jinping through congratulatory letters and emphasized in the 2024 Government Work Report, the Canton Fair is crucial for stabilizing and expanding foreign trade. It serves as a strategic node for showcasing China's commitment to open economic policies and supporting global cooperation.

Prime Minister Sheikh Hasina on Sunday (January 21, 2024) inaugurated the month-long Dhaka International Trade Fair (DITF) at Bangabandhu Bangladesh-China Friendship Exhibition Centre (BBCFEC) at Purbachal. Five foreign countries -- Turkey, India, Pakistan, Singapore and Iran -- alongside local companies are taking part in the 28th edition of the fair where exhibitors will showcase products. Hong Kong, a special administrative region of China, is also participating in it. The Prime Minister also declared Handicrafts Products as the product of the year for 2024. State Minister for Commerce Ahsanul Islam, Commerce Secretary Tapan Kanti Ghosh President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Mahbubul Alam and vice-chairman of the Export Promotion Bureau (EPB) AHM Ahsan were also present on dais. Read: 4 Bangladeshi businesses participate in Mandalay International Trade Fair The fair will continue from January 21 to February 20. The Ministry of Commerce and the EPB have been organising trade fairs since 1995. The DITF usually commences on 1 January each year. However, the EPB postponed the fair due to the 12th national elections held on January 7. The trade fair will run from 10 am to 9 pm daily and to 10 pm on weekends. The entry fee is Tk 50 for adults and Tk 25 for children. Freedom fighters and the physically challenged people need no fee. BRTC buses have been arranged from Farmgate and Kuril Biswa Road to the fair premises for the convenience of general visitors. Read: BGMEA, Oxfam discuss ways to collaborate with buyers to make trade fairer A total of 330 stalls have been allotted along with 23 pavilions and 27 mini pavilions. There will also be 15 food stalls of different categories which can accommodate up to 500 people. There are also a prayer room, children's playground, media corner, office rooms, medical rooms, guest-rooms for officials, and stores. The parking area can provide facilities for 500 vehicles. Read more: Month-long trade fair in Chattogram kicks off today

Export-import activities between Bangladesh and India through Sonamasjid land port have been suspended from this morning due to 12th national election across the country, slated for tomorrow. BNM candidate’s election camp set on fire in Chapainawabganj However, immigration through the land port is going on as usual. A notice has been issued, signed by joint commissioner of customs at the land port, Mohammad Mahbub Hasan, in this regard on Friday. Firearms, bullets recovered from Chapainawabganj border; 1 held: BGB Full-scale trade activities will resume on Monday. Chapainawabganj-1: AL candidate’s election camp set on fire

Despite an understanding among Bangladesh, Nepal and India, state-owned Bangladesh Power Development Board (BPDB) still cannot import electricity from the Himalayan nation. On August 28 this year, State Minister for Power, Energy and Mineral Resources Nasrul Hamid had said that import of hydropower from Nepal was almost final. It seems unlikely that the power trade will happen before November. That means, Bangladesh will not get the opportunity to export its surplus electricity to Nepal during peak demand season in winter in the Himalayan nation. Electricity demand decreases during winter in Bangladesh while it increases in Nepal. According to official sources, after a long discussion at political and bureaucratic levels among the countries, India finally agreed to allow Bangladesh to initially import 40 MW electricity from Nepal. The import was supposed to start between August and September 2023, but negotiation on tariff remained incomplete. Sources said the decision to start the import of 40 MW power from Nepal was finalised in a two-day meeting of the joint steering committee (JSC) and joint working committee (JWC) on Bangladesh-Nepal power and energy sector cooperation on May 14-15 this year at Patuakhali in Bangladesh. Ahead of the meeting, Nepalese Foreign Minister Narayan Prakash Saud visited Dhaka and held a meeting with Bangladeshi public and private sector officials where he urged them to invest in the hydropower sector in the Himalayan nation, holding about 60,000 MW of clean energy potentials. Read: Power tariff raised again by 5 percent at retail level, effective from Wednesday After the meeting at Nepalese Embassy in Dhaka, Saud had told UNB that he was expecting all issues to be resolved during the Nepalese prime minister’s visit to India – to facilitate Nepal’s export of electricity to Bangladesh. In the follow-up, according to a report of the Kathmandu Post, during the Nepalese prime minister’s India visit (May 30-June 1), India agreed to facilitate Nepal to export 40 MW electricity to Bangladesh through Indian transmission infrastructure. India also made an announcement to buy 10,000 MW electricity from Nepal over the next 10 years. According to a recent report of The Kathmandu Post, “The Bangladeshi side has notified Nepal that they are seeking clearance from the political authorities on the agreement reached between the two sides at the bureaucratic level,” said Kul Man Ghising, managing director of the Nepal Electricity Authority (NEA). “We are awaiting a final response from the Bangladeshi side to move on to tariff negotiation,” he added. NEA officials said that the two sides have concluded discussion on everything except tariff at the bureaucratic level. Read: Adani Power team likely to visit Bangladesh to discuss coal price, power tariff Power Cell Director General Mohammad Hossain said that he is not aware of the latest situation in this regard. He, however, noted that all necessary arrangements have been made for the cross-border power trade from both Bangladesh and Nepal sides. He said that 40 MW electricity was to be imported through Baharampur-Bheramara transmission lines which have enough capacity to import electricity from Nepal through Indian territory. Sources said under the planned arrangement, Bangladesh will import electricity from Nepal through an Indian company as a service provider which will first import electricity from Nepal through Indian transmission line and then sell it to Bangladesh. They said Bangladesh and Nepal prefer a tripartite or regional agreement while India wants bilateral deal in this regard. Explaining the matter, they said, if Bangladesh wants to import power from Nepal, it has to first sign a deal with India, not directly with Nepal. Then Nepal will sign a separate deal with India. Each deal will be on bilateral basis, and then a trilateral agreement among the three nations will be signed to facilitate the cross-border power trade. Read more: Hike in retail power tariff is less than in developed countries: Info Minister Currently, Bangladesh is importing electricity from India through a similar arrangement where the Indian company NTPC Vidyut Vyapar Nigam (NVVN) is selling power to BPDB. In case of electricity trade between Dhaka and Kathmandu, Nepal Electricity Authority (NEA) will have to sign agreements with both NVVN and BPDB. Apart from the 40 MW import plan, Bangladesh wants to import 500 MW of hydroelectricity from Nepal via Indian company GMR. Also read: Retail power tariff hiked 5% to Tk0.19 per unit for lifeline consumers, Tk0.36 on average for others Officials said Bangladesh and Nepal are still pursuing India to sign the tripartite deal to facilitate the sub-regional power trade among the three nations.

Export and import between Bangladesh and India through Dinajpur’s Hili land port will remain suspended for seven days on the occasion of Durga Puja, the largest religious festival of the Hindu community. Md Mostafizur Rahman, general secretary of Hili Land Port Import-Export Group, said that trade activities will remain halted from October 19 to 25 . Bangladesh-India trade through Hili land port suspended for Eid-e-Miladunnabi “The import-export through the land port will resume in full swing from October 26 after the Puja celebration,” he said, adding that they have taken the decision after a meeting with traders from both the countries.   Officer-in-Charge (OC) of Hili Immigration check-post, Sheikh Ashraful, said  though business activities will remain suspended during the weeklong vacation, immigration process will go on as usual.   Locals block Hili rail track demanding restoration of stopover of all trains So, the cross-border travel will continue through the immigration check-post of the land port during this time, he added. Md Bayezid, deputy commissioner of the Hili Land Customs Station, said that local businesses will be able to release their imported goods by paying customs during the vacation except on October 24 as it will be a public holiday for  Durga Puja. Trade through Hili land port suspended for Janmashtami

Export-import activities between Bangladesh and India through the Hili land port in Dinajpur district is suspended since this morning due to Janmashtami, a major religious festival of the Hindu community. All activities at the land port also remained suspended while immigration services are on as usual, said Mostafizur Rahman, general secretary of Hili Land Port Export-Import group . Trade through Hili land port suspended due to election on the Indian side  Trade between Bangladesh and India through Hili land port will resume on Thursday, he said. Trade through Sonamasjid land port resumes after 6 days

International Finance Corporation (IFC) is providing BRAC Bank Limited a $50 million loan to aid small and medium-sized enterprises (SMEs) recover from the effects of the COVID-19 pandemic.  This investment is set to contribute to the preservation of jobs and bring foreign exchange liquidity into BRAC Bank to help support the working capital and trade finance requirements of the bank’s SME importer and exporter clients. Also Read: New program by Australia, IFC to mobilise $50 million to support post-COVID inclusive growth in Bangladesh This investment, along with a similar loan to Prime Bank in February, will also send a positive signal to the market and contribute towards attracting additional international investors to support the foreign exchange financing needs of local banks and SMEs, IFC said. The financing package is part of IFC's $8 billion global COVID-19 fast-track financing facility to support companies during the ongoing public health crisis. This new investment comes under the Working Capital Solutions (WCS) program of the COVID-19 response envelope, which is providing $2 billion globally to emerging-market banks, enabling them to support struggling firms.  This project will also be supported by the International Development Association's Private Sector Window Blended Finance Facility, which is also rendering aid to IFC's WCS program. BRAC Bank is Bangladesh’s third-largest private bank and the only SME-focused bank in the country. Also Read: First project under IFC’s Global Food Security Platform to tackle food insecurity in Bangladesh "Our SME and corporate clients continue to confront challenges arising from the disruptive effects of COVID-19. The insufficient availability of foreign exchange has additionally impeded their regular trading operations," said Selim R. F. Hussain, the Managing Director and CEO of BRAC Bank. The aftermath of the COVID-19 pandemic has resulted in a global economic slowdown, influenced by a series of factors, including geo-political events. “IFC has been supporting the banking sector in export-driven economies like Bangladesh, which have been facing declines in foreign exchange reserves due to various macroeconomic and geopolitical headwinds,” said Joon Young Park, IFC’s Portfolio Manager for South Asia.  Also Read: Prime Bank receives $50m from IFC to support trade, forex liquidity needs in Bangladesh "IFC plans to continue providing its steadfast support to key banking partners in Bangladesh who have significant SME portfolios, such as BRAC, with whom IFC has had equity and debt commitments over the past 19 years.” IFC has invested more than $3.6 billion to promote the growth of the private sector in Bangladesh since 2010, thereby creating job opportunities for the country's citizens. And since the beginning of the COVID-19 crisis, IFC has provided over $360 million in working capital solutions and liquidity support to banks and companies in Bangladesh. Also Read: IFC giving $32.5 million to ensure food security in Bangladesh "After three long years of grappling with the impact of the pandemic, businesses in Bangladesh continue to face challenging market conditions,” said Martin Holtmann, IFC Country Manager for Bangladesh, Bhutan, and Nepal. “By supporting BRAC Bank, we are continuing our efforts to help Bangladesh recover and foster a resilient post-pandemic economic landscape.” Also Read: Implement Teesta Project to save people from manmade disasters: IFC