Ambassador Yao Wen Attends Inauguration Ceremony of Chinese Economic and Idustrial Zone and Signing Ceremony of Enterprises Intending to Invest in CEIZ. Mr. Yao Wen, Ambassador of China to Bangladesh, attended the inauguration ceremony of Chinese Economic and Industrial Zone (CEIZ) and the signing ceremony of the enterprises intending to invest in CEIZ in Chattogram. Dr. Shaikh Mohammad Jobayed Hossain, Joint Secretary of BEZA, Mr. Li Changgui, Vice President of CRBC, Mr. Song Yang, Counsellor of Chinese Embassy in Bangladesh attended the ceremonies. Ambassador Yao highlighted the pioneering significance of CEIZ, and urged CRBC to formulate more favorable investment policies and complete the construction of CEIZ at an early date. He noted that Chinese enterprises will build more industrial zones in the future, which will serve as a platform for the high-quality Belt and Road cooperation and enhance China-Bangladesh economic cooperation.

The total driving distance from Dhaka's commercial Motijheel district to the Bangabandhu Bangladesh-China Friendship Exhibition Center in the Bangladeshi capital's Purbachal new township under construction is approximately 35 km. The hot weather and such a long distance did little to deter businesses from thronging the "Belt and Road Initiative in Bangladesh Exhibition 2023." Some 3,000 people, including top government officials and leading businesses, flocked to the three-day exhibition over the weekend, bringing together companies, especially those from China, under one roof. Scores of Chinese and Bangladeshi enterprises, banks, and government agencies used more than 120 standard booths to demonstrate the achievements of the Belt and Road Initiative (BRI) in Bangladesh. "I came to this exhibition center after seeing the circular of the exhibition," said Bangladeshi Himel, who uses a single name. "I visited the Huawei stall and saw all Huawei technology and career enterprise solutions here," Himel said, adding, "I've also visited many Chinese stalls. It was very nice to visit this exhibition." Himel said Bangladeshi people are also very familiar with Chinese technology and can use an array of high-tech products made in China. In the booth of Akij Jute Mills Limited, Abiruzzaman, the senior manager, was introducing their products to the visitors passionately. "I am very happy to participate here," Abiruzzaman said, adding that "we export to China. They are very good, and their cooperation mentality impressed us." Md Mujibur Rahman, managing director of Powervision Group, was thrilled to be the dealer of Sany Heavy Industry India Pvt. Ltd. in Bangladesh. Till now, the comprehensive market share of the main construction machinery products from Sany exceeds 30 percent, and the market share was No.1 in Bangladesh for eight consecutive years. "Construction machines are essential for the BRI. According to that requirement, Sany has been in Bangladesh for the past years and will continue to be," he said. The BRI is doing development work in Bangladesh, Rahman said, adding that Bangladeshi people know what the BRI is because "development is not possible in Bangladesh without the BRI." Both the countries benefit mutually from the BRI, a bridge and catalyst in paving the way for the transfer of technology and more investment from China's public and private sectors, said Mohammad Hatem, executive president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), one of the largest associations of Bangladesh's top export earning sector, the readymade garment. He said there are big opportunities for Chinese investors to invest in Bangladesh because "there is a ready market." "We want to go forward with the BRI. Bangladesh will go forward with the help of China and the BRI." Bangladeshi government officials have also called for increased cooperation under the framework of the China-proposed BRI, which they said has brought great changes to the South Asian country. They made the remarks on Friday when speaking at the opening ceremony of "The Belt and Road Initiative in Bangladesh Exhibition 2023," which marks the 10th anniversary of the initiative. The BRI has already brought transformative changes to Bangladesh as "it has strengthened our role as a vital connector in the regional trade network," Lokman Hossain Miah, executive chairman of Bangladesh Investment Development Authority (BIDA), said at the ceremony attended by nearly 400 representatives of Chinese and Bangladeshi enterprises. "Our participation in the BRI is a testament to our shared commitment. So, let us see this moment, harness the opportunities it presents and work together to build a more prosperous and interconnected world," said Miah, a senior secretary of the Bangladeshi government. Under the BRI, he said Bangladesh has implemented mega projects like the Padma Bridge rail link, the 8th Bangladesh-China Friendship Bridge, and the Bangabandhu Bangladesh China-Friendship Exhibition Center, among others. Addressing the ceremony, A.H.M. Ahsan, vice chairman and chief executive officer of Bangladesh's Export Promotion Bureau, said the BRI put forward 10 years ago is "a visionary project aimed at revitalizing the connectivity among Asia, Europe and Africa." "Over the past decade, we have witnessed the transformative impact of the BRI on global trade and investment, with Bangladesh being an enthusiastic participant in this journey," he noted. Source: Xinhua

A Rajshahi-based exporting organization has sent gourmati and katimon varieties of mangoes to Russian markets from Rajshahi for the first time. Air Arabia G9-517 flight departed from Dhaka with 200 kilograms of gourmati and 100 kilograms of katimon for Russia on Saturday morning. Reports BSS Confirming the matter Chief Executive Officer of MTB Agro and Garden Mahtab Ali said this is the first venture of exporting Rajshahi's mango to Russia. The buyers are also Russian. He said the mangoes were collected from the orchard of Nazim Uddin of Kundua village under Nachole upazila in Chapainawabganj. Mahtab Ali said gourmati and katimon mango varieties produced round the year but those were harvested in August and September for maximum profit. In time, the season of all other varieties ended. He also said exporting mango to Russia was not so easy. "We were trying for the last three years and became successful overcoming all obstacles this year," he added. Ali mentioned that they have become successful in the field of establishing a brand image of Bangladesh's mangoes through ensuring safe and healthy mangoes and appropriate packaging. He also said the Russian authority has given permission for exporting mangoes for the next five years. "We are very much optimistic of sending varieties of mangoes, including Khirsapat, next year," he added. Shamsul Wadud, Additional Director of Department of Agriculture Extension, said they are searching new markets around the world.  

Bangladesh Food Safety Authority (BFSA) & The Danish Veterinary and Food Administration (DVFA) Sign mmemorandum of understanding (MoU). Denmark and Bangladesh further strengthen their partnership with signing of a MoU to create new collaboration for food safety and sustainable food production.  Denmark and Bangladesh have had a long standing partnership and a mutual desire to continue cooperation in the food and agricultural sector for the benefit of both countries, as established in the “Sustainable and Green Framework Engagement” between the two nations. The signing ceremony took place at the Ministry of Food, in the presence of Mr. Md. Ismiel Hossain ndc, Secretary, Ministry of Food; Mr. Md. Abdul Kayowm Sarker, Chairman, Bangladesh Food Safety Authority and Mr. Anders Karlsen, Chargé d-Affaires a.i. at the Embassy of Denmark in Dhaka, and Ms Maria Knudsen, Sector Counsellor at the Embassy, solidifying the commitment of both countries to continue their close cooperation in the food and agricultural sector and collaborate on vital matters related to food safety management and sustainable food production. The MoU aims to foster a strategic sector cooperation and enhance scientific, technical, and regulatory collaboration within food safety and sustainable food productions between two trusted and amicable nations. Through this partnership, both countries seek to collaborate on multiple initiatives that leverage their unique expertise, technologies, and resources to deliver innovative solutions for safe food and sustainable agriculture practices.  The Secretary of Ministry of Food Mr. Md. Ismiel Hossain ndc stated, “The MoU signing is really a great milestone in the journey of ensuring food safety in Bangladesh.  This collaboration marks a significant milestone in our ongoing efforts to enhance food safety standards and regulatory practices in Bangladesh.”  Mr. Md. Abdul Kayowm Sarker, the Chairman of Bangladesh Food Safety Authority said, “As we strive to safeguard the health and well-being of our citizens, this collaboration will enable us to adopt best practices, learn from international experiences, and implement evidence-based strategies to address the evolving challenges in the food safety landscape. Our joint efforts will undoubtedly result in safer food for our consumers and further bolster our reputation in the global food market.”  “Denmark and Bangladesh have had a close relationship throughout the last 50 years. We are happy to take this relationship an important step further with this MoU, with an in-depth collaboration to create a more sustainable and safe food production” said Mr. Karlsen. By creating collaboration between governments, international organizations, the private sector, and civil society organizations, the primary focus is to ensure food safety as a critical step to addressing the challenges of food loss and waste while implementing measures to enhance overall resource efficiency in agricultural, livestock, and fisheries production. Ms. Maria Stein Knudsen, Sector Counselor for Food and Agriculture at the Danish Embassy, also present during the signing said “Bangladesh and Denmark are both two proud agriculture and food-producing countries. We are facing a global challenge ensuring safe and nutritious food, while also creating a more sustainable production. Denmark and the DVFA look forward to working together with BFSA on reaching these goals for food safety and sustainability.” 

Bangladesh Jewellers’ Association (BAJUS) said that, all jewellery shops of Dhaka metropolis will be closed after 5pm on today, July 17. BAJUS said that in a press release on July 16. The statement said that, all jewellery shops of Dhaka Metropolis will be closed as 58th anniversary of bajus will be celebrated. On this day, in 1966, largest and traditional trade organization of the country, Bajus was formed. 

The Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) President Md. Jasim Uddin said, "Keeping in mind the ongoing global crisis, it is essential to give special heed in the next budget to the existing VAT exemption in production and export to move forward the country's business and trade." Mr. jashim Uddin said, "In next budget, National Board of Revenue (NBR) should intervene to increase the area of taxes without imposing additional tax on businessmen." Due to the Russia-Ukraine war, overall economic situation around the world is unhealthy. The economic situation of Bangladesh is also the same.  Besides, during the on going crisis, the increase in fuel prices, production costs in industrial factories have escalated.  Compared to other Fiscal Year, remittance has lessened. Bangladesh Bank's reserve also reduced at a large scale. In this matter, FBCCI president said, "The time is very bad. In the last 40 years, in my whole business career, i have never faced such a bad situation. Due to increasing the dollar price rate,  large scale companies are also in trouble.  As there is an extreme dollar crisis in the banks. Imports are much more than exports. Businessmen are not capable to open the Letter of credit (LC) for import essential products. FBCCI president Md. jashim Uddin urged to expand the allocation to enhance skilled manpower for the manufacturing sector.

Commerce Minister Tipu Munshi today urged the global investors to come up with investment in the country's special economic zones saying that investors are well protected in Bangladesh. "Investors are well protected in Bangladesh and we have a good number of agreements to avoid double taxation. So, dear investors, don't miss the train," he told a plenary session as the chief guest here. The event titled "Bangladesh: $100 billion investment opportunities in key sectors for investors to leverage" held on the 2nd day of the Bangladesh Business Summit, 2023 at the Bangabandhu International Conference Center (BICC) in the capital. Prime Minister's Private Industry and Investment Adviser Salman F Rahman made the key-note presentation moderated by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin. State Minister for Foreign Affairs Md Shahriar Alam, UK Minister of State for Indo Pacific Anne-Marie Trevelyan spoke as guests of honour. Principal Secretary to the Prime Minister Tofazzel Hossain Miah, Chairman and CEO of Youngone Corporation, Bangladesh Kihak Sung, former FBCCI President AK Azad, Regional CEO of Marubeni Corporation Takeshi Mamiya, DG of KOTRA Jong Won Kim, and CEO of CWEIC, UK Rosie Glazebrook spoke as panelists. Highlighting a set of facilities for the investors, the commerce minister said the Bangladesh Bank has formulated a prudent policy intervention, the NBR established national single window, BIDA established One Stop Service and the Ministry of Commerce established digital linkage with the office of the Registrar of Joint Stock Companies and Firms. Tipu said there is a potential to make investment of more than $100 billion in Bangladesh by the valued investors. He said that the priorities of the government are to open up the untapped markets of Eurasia, African Continent and others. The commerce minister said his ministry is always ready to create and facilitate business-friendly environment in the country. He said although RMG still remains as the major export-oriented sector for Bangladesh, but the other sectors having high potentials are jute and jute-made goods, leather and leather products, light engineering, agro products and plastic products. Tipu said the government has already ensured discipline in the e-commerce sector by introducing digital business identification while efforts are also there to prevent different sorts of irregularities and fraudulence in the e-commerce business. While making his key-note presentation, Prime Minister's Adviser Salman F Rahman said the foreign investors are actually reaping the benefits of domestic market in Bangladesh. He said the strategic location of Bangladesh between two large markets like China and India alongside other regional markets has put the country in an ideal place for making investment. Referring to the prime minister's zero tolerance against terrorism and militancy, Salman F Rahman said in Bangladesh, the government has really been able to control this menace although the situation is a bit different in other countries. For curbing corruption, he said the concerned commission is very much active, adding, "Our Prime Minister is very much determined that we want to eliminate corruption at all levels," Salman noted that the next challenge Bangladesh would be facing is 4th industrial revolution and all needs to be prepared to face this challenge. He also stressed taking more PPP projects in the infrastructure sector. Answering to a question, the adviser said that blended finance would not be a solution to tame the impacts of high energy prices on the businesses. In this regard, he said that the government is now going for long-term energy contracts with Qatar and other countries. State Minister for Foreign Affairs M Shahriar Alam said the foreign investors would be able to draw a steep growth trajectory in the coming days if the benefits of the mega projects and other transformational projects are considered. Noting that Bangladesh has ratified the highest number of instruments over the years, Shahriar said that the highest number of green factories is now situated in Bangladesh while the clothes made in Bangladesh are the cleanest in the world. "Be it East or West, I will go and claim, Bangladesh is the best," he added. The UK Minster of State said that both the countries enjoy a historic and deep relationship while the UK businesses have a very active and important role in the economy of Bangladesh. She said that more UK investments are likely to come in the higher education and financial sectors of Bangladesh. "Many UK businesses want to expand here ...UK will continue to be a steadfast partner of Bangladesh. Our relationship will continue to flourish in the years to come," she added. Prime Minister's Principal Secretary Tofazzel Hossain said this summit is an excellent opportunity for the investors to explore the country and seize the future investment opportunities. He said the digital economy has been an emerging sector for Bangladesh while the nation has created the most favorable environment for large firms. Former FBCCI President AK Azad stressed the need for giving more importance on man-made fibre.