United News of Bangladesh

State Minister for Commerce Ahsanul Islam Titu today announced that Bangladesh is set to sign an agreement with Myanmar, in addition to India, to import essential goods. He added that the Trading Corporation of Bangladesh (TCB) will be signing the agreement on behalf of the government. While speaking at a programme organised by the Bangladesh Secretariat Reporters Forum (BSRF), held at the Secretariat, the state minister said, “We are going to sign an agreement with India to import daily essentials to ensure a smooth supply. Besides, we’ll also sign a deal with Myanmar to bring essential commodities and extend the river transport communication. We have almost finalised an agreement in this regard. We will try to sign the agreement in July,” he said. Onion, pulse and other daily essentials can be imported from Myanmar, he added. “We have one goal, that is to give some relief to the common people. To some extent, we can keep the market moving. That is why we are taking these steps,” said Titu. Inflation was highest in 2022-23 fiscal: State Minister for Commerce Noting that a number of land ports have been opened, the state minister said, “Along with land ports, we have given importance to border haat (markets). We have borders in many remote areas where we have initiated some “border haat” to increase the facilities of the people living there.” Replying to a question about whether the price of potato and onion – being sold at Tk 70 and Tk 90-95 per kg – is normal, the state minister said there is an adequate supply of potato and onion in the market and the price is normal. “The price of any product depends on the supply and demand in the market and if we can supply the product, the price will come down automatically,” said the state minister, adding, “We have to consider the market price of potatoes and onions until there is an ample supply.” BSRF president Fasih Uddin Mahtab and its general secretary Masudul Haque administered the programme. No intention to fix new price for edible oil before Eid: State minister for Commerce  

Wael Sabra, a seasoned professional serving BAT for 21 years, will succeed Golam Mainuddin as the Chairman of BAT Bangladesh from August 1, 2024. Beginning his career with BAT in 2003, Sabra held numerous senior positions in the company, gaining extensive experience through his work across the Middle East, Africa, and South Asia, which has contributed to the company’s continued success. Since March last year, Sabra has served as a Non-Executive Director on the Board of Directors at BAT Bangladesh. He is currently the Area Director for BAT Middle East, South Asia, North Africa, Caucasus and Central Asia. Sabra holds a master’s degree in finance from the University of Florida and a bachelor’s degree in business administration from the American University of Beirut. He is also a Certified Management Accountant (CMA). Sabra will take over from Golam Mainuddin, who completed a remarkable 42-year tenure at BAT Bangladesh with a strong legacy. Mainuddin began his career with the company in 1983 and was elected Chairman of the Board of Directors in 2008. His visionary leadership and dedication were crucial in transforming the company, making it self-sufficient and aligning it with global quality standards. Since 2010, the government of Bangladesh has recognized Mainuddin as a Commercially Important Person (CIP) for his substantial contributions to the national economy. The BAT Bangladesh management board warmly welcomes Wael Sabra to his new role. The company looks forward to leveraging his extensive experience and leadership to drive strong business results and continue its mission as a credible growth partner for the nation.

A 5-day handicraft products fair kicked off at Bangabandhu Bangladesh China Friendship Exhibition Center (BBCFEC) in Purbachal near Dhaka on Tuesday. About 100 handicraft makers participated in the fair that will  conclude on June 29. The handicraft fair will remain open for visitors from 10am to 6pm while on weekly holidays the fair will remain open till 8 pm. BRTC shuttle service is available from Kuril to the fair vanue. In the fair, jute products, leather products, footwear, cane and bamboo products, handloom products, handicrafts, handmade jewellery, pottery products, etc. have been displayed. Classical Handmade Products Bd Ltd., Nadia Jamyatri Wedding Factory, Moderna, Twinkle Craft, Kalpataru, Mother Enterprise, Prakriti, and some other companies displayed various products at the fair. Commerce Secretary Md. Selim Uddin inaugurated the fair as the chief guest. Nadia Binte Amin MP, Senior Vice President of FBCCI Md. Amin Helaly, among others, spoke at the event. Kazi Muhammad Muzammel Haque, Vice-Chairman (Additional Charge) of the Export Promotion Bureau (EPB), presided over the program. The Ministry of Commerce and EPB jointly organised the handicraft fair to promote the handicraft sector of the country. About 100 handicrafts producers, suppliers and exporters have been allotted stalls at low prices in favor to promote sector. Among the organizations that participated in the fair are Jute Diversification Promotion Center (JDPC), Jayita Foundation, Banglacraft (Gowhain Street, Classical Handmade Products Bd Ltd, Suthrash, Jute Fusion Bd, Artifact, Liza Boutiques, Prakruti, Heet Handicrafts, Zarins Creation, Bunisuta , Sajoa Textile, Moderna, Abdura Fashion, Pansi Jute & Textile), Karupanya Rangpur Limited, Bengal Braided Rugs Limited, Bangladesh Textile Board, Bangladesh Jute Research Institute, Fawn Golden Harvest Industries Limited, Green Golden Jutesk, Hor, Asia Pacific Zone, K Image, Bangladesh Machine Tools Factory, J Integrains, WEF (Women Entrepreneurs Networking for Development Associations), ZA Trading, Zia Trade International, Ananya Soy F Inner Industries Limited, Asma Boutiques, Babu Leather, Bangla Leather, J. N Trading, Z Leather, Kumudini Handicrafts, Kalpataru, BD Creations, Design by Bubina ('Sustainable Bangladesh' - Presented by Jute Land Bangladesh, The Jute Fibers BD, Jutemart International) etc.

Chinese company Alpen Banyan Garments BD Co. Ltd. signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to invest US$ 108.99 million in BEPZA Economic Zone (BEPZA EZ). This company will set up a garment manufacturing factory on 90 thousand square meters of land where 43 million pcs of Woven and Knit garments will be produced annually, said a press release issued on Tuesday. The company will create employment opportunities for 11,995 Bangladeshi nationals when it will come into operation in full swing. Chinese SBS Zipper sign deal to invest US$ 19.97 million in BEPZA Economic zone In the presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc, Member (Investment Promotion) of BEPZA Mr. Md. Ashraful Kabir and Director of Alpen Banyan Garments BD Co. Ltd. Mr. Li, Tianning signed the agreement on behalf of their respective organisations at BEPZA Complex, in the capital. It would be the highest amount of proposed investment ever from a single company signed agreements to establish industries in BEPZA EZ. BEPZA Executive Chairman thanked Alpen Banyan Garments for choosing BEPZA EZ as their investment destination. He said that BEPZA welcomes investment from all sectors including RMG and Textile but encouraging more investment in diversified sectors like Automobile, Electronics and Electrical, IT products etc. Mentionable, BEPZA gets positive response from the investors of home and abroad to invest in BEPZA EZ, the largest venture of BEPZA located at Mirsharai, Chattogram. A total of 29 companies, including Alpen Banyan Garments, signed agreements to invest in the BEPZA EZ with a total proposed investment of USD 688 million. Chinese company to invest USD 11.6 million in BEPZA economic zone In addition to the ready-made garments and textiles, these lease companies are supposed to produce diversified products such as footwear and footwear accessories, tents and camping equipment, hair care products and accessories, lubricating oil, disposable cutlery, etc. Three companies of BEPZA EZ have already started their commercial production while three more companies expected to make their first export by this year. Member (Engineering) Mohammad Faruque Alam, Member (Finance) A N M Foyzul Haque, Executive Director (Enterprise Services) Md. Khorshid Alam, Executive Director (Public Relations) ASM Anwar Parvez and Executive Director (Investment Promotion- Addl. Charge) Fazlul Haque Mazumder along with the representatives of the company were present during the signing ceremony.    

The 4th meeting of the Eminent Persons’ Group (EPG) on future directions of the BIMSTEC will be held on June 25-27 at the BIMSTEC Secretariat in Dhaka. The meeting will be chaired by Dr. Soonthorn Chaiyindeepum, member of the EPG from Thailand, which is the current Chair of the BIMSTEC. The members of EPG from all BIMSTEC member states will join the meeting. The BIMSTEC Secretariat, led by Indra Mani Pandey, Secretary General, is organising the meeting and will be assisting the EPG in its deliberations. During the three-day long meeting, the EPG will engage in discussions on the current status of regional cooperation within the BIMSTEC in various sectors, said the regional organisation on Monday. The EPG will hold interactions with the former Secretaries-Generals of BIMSTEC, members of the BIMSTEC Network of Policy Think Tanks (BNPTT) and representatives of trade and business organisations of the BIMSTEC member States. The EPG has been entrusted with the task of making recommendations to reform, revitalise, and repurpose the BIMSTEC in order to foster a prosperous, resilient, and developed BIMSTEC region. The establishment of the EPG signifies the commitment of the BIMSTEC member states to take necessary steps to foster and deepen regional cooperation to realise the goals of a secure, developed, and prosperous Bay of Bengal region. The EPG is committed to submitting its report to the BIMSTEC Leaders at the Sixth BIMSTEC Summit. BIMSTEC comprises seven countries of the Bay of Bengal region: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. It pursues regional cooperation in the following seven sectors: Agriculture and Food Security; Connectivity; Environment and Climate Change; People to People Contact; Science, Technology and Innovation; Security; and Trade, Investment and Development.  

Bangladesh Jewller’s Association (Bajus) is organizing 1st international jewellery machinery expo-2024 in the first week of July to encourage upgrade technology along with traditional goldsmiths of this sector. A total of 30 institutions from 10 countries including India, Turkey, Italy, United Arab Emirates, Germany, China, and Thailand will participate in this expo, which is scheduled to be held from July 4-6 in the international convention city Bashundhara, Kuril, Dhaka. On the occasion, Bajus organized a press conference at its office in Bashudhara Shopping Complex, Panthapath in Dhaka. Samit Ghosh Apu, vice-president of Bajus, presented various information about the exposition  in the press conference. In a written statement, he said that the International Jewellery Machinery Exhibition Bangladesh 2024 has been organized for the first time in the history of the country. He said that this exhibition has been organized to encourage investors to develop the jewellery industry in the country and set up new factories. Bajus General Secretary Badal Chandra Roy, spokesperson Dr Dilip Kumar Roy, adviser Ruhul Amin Rasel, and CEO of expo associate KNC India Kranti Gagvenkar, among others, spoke in the press conference. Sami Ghosh said, “If new factories are established, the doors of development and more export of jewellery  will be opened. The lost tradition of the gold industry will be regained in this country. Bangladeshi artisans will be able to create modern design jewellery keeping the global touch.” It was informed in the press conference that  6 companies from India are participating in the exhibition - Tisha CNC Engineering Works, Neo Instruments, Solanki Machinery Works, Era Corporation, Quantum Equipment, Acjet Solutions. The 3 companies from Italy are JTE, Fasti, and Omper, 3 companies from Turkey are Otec, Ortec, and Guvenis Jewellery Mold and Machine. Fischer of Germany. China Doit Industries Pvt. 5 companies participating from Bangladesh are Dreams Instrument Technology, Bangladesh Scientific Instrument Company, Expert Instruments, Trust, RAT’s Bd.    

Within a span of one week after Eid-ul-Azha, prices of all essentials including vegetables, fish and meats have shot up in Khulna kitchen markets, leaving low and mid-income people in trouble. Pre-planned family budget aren’t working effectively while the market controlling authorities and the district administration seem unable to take effective action, said consumers. Visiting Khulna’s several kitchen markets including Natunbazar, Doulatpur Bazar, Gallamari Bazar, Sheikpara Bazar and Mistripara Bazar, the UNB correspondent found abnormal hike in prices of fish, meat and vegetables and lack of customers in the markets. Blaming rains for the price hikes, Doulatpur Bazar’s trader Rahman Sheikh said green chilies, which was sold for Tk 200 per kg before Eid, are now selling at Tk 300 per kg, an increase by Tk 100 per kg. Initiatives taken to keep essentials’ prices stable: Tipu Munshi Eggplant costs Tk 100-120 per kg, pointed gourd at Tk 70 per kg, potatoes at Tk 70 per kg, onions at Tk 100, garlic at Tk 240-300, okra at Tk 60, bitter gourd at Tk 80, ginger at Tk 300 per kg and spinach at Tk 30, he said. Matlub Miah, a meat trader in Farazipara, said that per kg of beef is being sold at Tk 800 while mutton at 1,100 per kg.  

The export-import activities at Sonamasjid land port resumed on Saturday after seven days of suspension due to Eid-ul-Azha holiday. Harun-or-Rashid, president of C&F Agent association of the land port, said trade activities remained suspended from June 15 to June 21. However, the goods-laden trucks from India started to enter the port from Saturday following the resumption of the port activities.

Malaysia has expressed a strong interest in increasing its investment in Bangladesh’s telecommunication and ICT sectors, according to State Minister for Posts, Telecommunications, and Information Technology, Zunaid Ahmed Palak. During a courtesy meeting with the state minister at the Secretariat this morning, Malaysian High Commissioner to Bangladesh, Haznah Md Hashim, conveyed Malaysia's interest in expanding its investments in these sectors. Govt to take action for failure in sending workers to Malaysia by deadline: PM Hasina Speaking to the media, Palak said, "Foreign investors are eager to invest and expand their presence. However, various tariffs, additional taxes, and VAT are slowing down the progress of this sector. We have sought the cooperation of the National Board of Revenue in this regard, and we hope to receive their support." He highlighted the keen interest of Malaysian companies in the ICT sector. "Malaysia believes that both countries can work together to create a mutually conducive environment. By improving the quality of service without increasing taxes, new opportunities can be created in the ICT sector, which will, in turn, boost revenue collection and investment," the minister added. Malaysia urged to allow entry of visa holder Bangladeshi workers: State Minister for Expatriate Welfare

Trade between India and Bangladesh through Benapole land port resumed on Wednesday morning after a five-day holiday for Eid-ul-Azha. Import and export with India through this port remained suspended from June 14 to 18. Sajedur Rahman, general secretary of the Benapole C&F Staff Association, said export and import activities through the port resumed around 9am. Eid-ul-Azha: Trade via Banglabandha land port to remain suspended for 7 days Azharul Islam, officer-in-charge of Benapole Check Post Immigration Police, said the movement of passengers between the two countries was normal despite the suspension of trade for holidays. Some 34, 000 passport holders moved between the countries during the period, he said. Benapole Port director (traffic) Rezaul Karim said after the end of holidays, workers started working at the port in the morning. Trade through Sonamasjid land port to remain closed for seven days for Eid-ul-Azha