The '2024 National Trade Estimate Report on Foreign Trade Barriers' published on March 29 identified barriers to government procurement, intellectual property protection, digital trade, investment and labour rights in Bangladesh. According to the NTE report published by United States Trade Representative Catherine Tai, the United States faces several obstacles in doing business with Bangladesh. Bangladesh faces obstacles in the export of goods and services, foreign direct investment and e-commerce. NTE reports have been published regularly since 1985. This year's NTE report highlights significant foreign trade barriers in 59 markets. According to the report, corruption is a widespread and chronic problem in Bangladesh. And the implementation of anti-corruption laws is not enough. It also said that bribery and extortion are common in commercial transactions despite bribery transactions and gifts being illegal. US companies have also complained that they are forced to pay bribes to get licenses.  The report also mentions that the government has tried to weaken the anti-corruption rules in procurement. According to the report, US companies have complained that it takes a long time to get licenses and tenders approved because government officials in Bangladesh demand bribes.    

A number of German business leaders joined German President Steinmeier as Berlin looks to diversify its economic activity away from China. The two countries are eying a deal to facilitate the movement of skilled workers. German President Frank-Walter Steinmeier touched down in Vietnam on Tuesday as Germany looks to push   its China de-risking strategy. He was joined in the capital, Hanoi, by Labor Minister Hubertus Heil and a delegation of business leaders from top German industrial firms who will join him on a four-day tour of Southeast Asia. The visit "underlines Germany's interest in looking beyond China and diversifying its economic relations," said Florian Feyerabend, the representative in Vietnam for German think tank, the Konrad Adenauer Foundation.   What's on the agenda for Steinmeier in Vietnam? Steinmeier was welcomed with military honors by Vietnam's President Vo Van Tthuong. He then attended a careers fair at the Goethe-Institut in Hanoi. After touring the capital, the two leaders will have talks and are expected to sign a memorandum of understanding on facilitating the movement of skilled workers from Vietnam to Germany. On Wednesday, Steinmeier is due to visit the economic hub of Ho Chi Minh City. He will then spend two days visiting Thailand.   What German companies joined the trade mission? Among the German companies participating in the business mission is Herrenknecht, which dominates the global tunnel boring machine market and is already selling tools to construct a subway in Ho Chi Minh City. Other participating firms include building materials giant Knauf and adhesive manufacturer Tesa, both of which already have operations in the Southeast Asian country. Wind farm developer PNE AG also joined the delegation at a time when Vietnam is looking to expand its offshore wind sector. The German chamber of commerce in Vietnam said that German companies have invested more than $3 billion (€2.8 billion) into the manufacturing hub, with automotive supplier Bosch being the main investor. Germany is Vietnam's most important trading partner in the European Union, while Vietnam is one of Germany's most important partners in the group of ASEAN states.

Embattled Chinese tech company Huawei Technologies said its business is "pretty much back on track" despite a U.S. crackdown, with revenue in 2023 hitting its highest level since 2020. In the company's year-end message, rotating chairman Ken Hu said the company "managed to weather the storm," with revenue reaching more than 700 billion yuan ($98.49 billion) in 2023, up more than 9% from 2022. Washington first blacklisted Huawei in 2019 and further tightened export controls on the company in 2020, flagging it as a national security risk, which Huawei has consistently denied. "Hard work has enabled us to survive and grow, but we still have serious challenges ahead of us. Geopolitical and economic uncertainties abound, while technology restrictions and trade barriers continue to have an impact on the world. Together, these forces are reshaping business models and the global value chain," Hu said in the message to customers and employees. "We're pretty much back on track," he said. The rotating chairman said his company has "resumed large-scale supplies of smart devices" thanks to the hard work of R&D and supply teams and had made further progress in ensuring business continuity. Huawei's results come with Beijing having launched several retaliatory measures against the West, including banning the use of iPhones in government affiliates and introducing multiple export controls on key electronics materials such as graphite, gallium and rare earth technologies. The Chinese company on Friday said its device business, which includes smartphones, surpassed expectations for 2023 and it plans to "double down" on efforts in this area for 2024. Huawei unexpectedly released its 5G flagship Mate 60 Pro smartphone with an in-house-developed 5G mobile chip in late August. This was the first such release since the company, once the world's second-largest smartphone maker, lost its access to vital chips due to Washington's restrictions. Nikkei Asia first reported that it aims to double smartphone shipments for 2024. Huawei said its new automotive electronics business has become "significantly more competitive" and that it would look to work with more partners in 2024. The company unveiled an electric SUV on Tuesday with its automaker partner Seres. In November it signed a joint venture deal with Chinese carmaker Changan Automobile. Other major Chinese tech companies have been aggressively pushing into the electric car business. Xiaomi on Thursday unveiled its first electric car, the SU7. Founder and CEO Lei Jun pledged to make Xiaomi one of the world's top 5 automakers and lift China's overall automobile industry. Huawei said its core telecom and enterprise solutions business -- the so-called ICT infrastructure business -- remained solid in 2023, while its cloud business reported healthy growth. The company also said it faces mounting challenges from geopolitical uncertainties, sanctions and macroeconomic conditions but pledged to continue to "crack the hard nuts" to focus on leading fundamental technologies and build complicated software and hardware platforms. Meanwhile, Huawei said it has completed the majority of its shift to a self-developed ERP (enterprise resource planning) system for more than 200 subsidiaries globally, cutting its reliance on foreign software developers such as SAP. ERP software helps companies manage corporate operations, including the management of inventory, procurement, supply chains and human resources. American company SAP has the highest market share for providing ERP systems.   Source: Nikkei Asia

In a celebration of bilateral trade and mutual prosperity, 27 companies were recognized at the “China-Bangladesh Business Excellence Award 2023” for their remarkable contributions toward fostering economic ties in these two countries. Fifteen winners were Bangladeshi enterprises, while twelve stemmed from China, a testament to the vitality of the business connections that have blossomed under the Belt and Road Initiative’s decade of operation.   The award ceremony, meticulously organized by the Bangladesh-China Chamber of Commerce and Industry (BCCCI) and the Chinese Enterprises Association in Bangladesh (CEAB), took place at the Radisson Blu Dhaka Water Garden on 21 December 2023. The event shed light on the prosperous synergy emerging between the two nations, spotlighting the role of successful companies in this blossoming partnership.   Present at this event were high-ranking officials such as H.E. Yao Wen, the Chinese Ambassador to Bangladesh; Lokman Hossain Miah, executive chairman of the Bangladesh Investment Development Authority (BIDA) and Anowar Hossain, the Additional Secretary of ERD, amongst others. The Chinese Ambassador emphasised the crucial function of political leaders in steering the course of bilateral relations. He highlighted how recent interactions between President Xi Jinping and Prime Minister Sheikh Hasina have breathed fresh life into these ties, setting in motion a new phase of cooperation. It was also marked that China has consistently remained Bangladesh’s most significant trading partner for 13 years running, and the largest source of imports. The ambassador spoke of the decreased trade deficit with China by 16%, pointing towards an effective improvement in dealing with the trade imbalance. Additionally, China has proved to be a predominant source of foreign direct investment for Bangladesh, amounting to a stock of 3.17 billion US dollars as of September.   Mr. Ke Changliang, President of the CEAB, spoke of the burgeoning economic rapport between China and Bangladesh, signifying a foundation for shared benefit and prosperity. He spoke of the CEAB members’ profound impact on the region, providing upwards of a half a million direct jobs to local individuals, therefore, emphasizing the enterprises’ commitment to responsible and positive business practices.   The China-Bangladesh Business Excellence Award 2023 not only celebrates the triumphs of the awarded companies but also marks the decade-long journey of the Belt and Road Initiative (BRI). This esteemed event serves as recognition of the firm alliances built over this period and the promising growth that lies ahead in the realm of Chinese-Bangladeshi bilateral trade relations. The vibrancy and vigor with which these ties continue to flourish, stand true to the spirit of mutual growth and shared success.   A total of 27 companies, 15 from Bangladesh and 12 from China, have won the “China-Bangladesh Business Excellence Award 2023” for their outstanding performance in boosting the bilateral trade between the two countries during the 10th anniversary of the Belt and Road Initiative. This is the first ever such type of program happened in Bangladesh.   To strengthen the consistent sustainable development of Bangladesh; Chinese Enterprises Association in Bangladesh (CEAB) and Bangladesh China Chamber of Commerce and Industry (BCCCI) have formed a bilateral committee to organize China-Bangladesh Business Excellence Award which shall held every year from now on to boost the Bangladesh-China business cooperation.   Chinese Enterprises Association in Bangladesh (CEAB) recently established eight specialized industrial branches under the guidance of H.E. Mr. Yao Wen, Ambassador of China to Bangladesh; which are as follows- Power and Energy, Road and Bridge, Railway and Civil Aviation, Water and Environment, Marine and Harbour, Information and Communication Technology, Textile and Garment, Trade and Services. Every specialized branch underscores the dedication to actively contributing to key sectors essential for the advancement of Bangladesh. Even the above stated branches are the strong monument of bilateral cooperation between both the countries- China and Bangladesh.   In the coming years, apart from the 8 industries mentioned before CEAB will further nourish renewable energy, ICT, smart agriculture, and green Infrastructure sectors in Bangladesh for sustainable development following the vision of Smart Bangladesh.   In the 1st China-Bangladesh Business Excellence Award program 2023, for awards nomination and final selection the committee has prioritized in category aspects as above stated the eight industrial branches where the awarded organizations actively contributing to key sectors essential for the advancement of Bangladesh: Power and Energy, Road and Bridge, Railway and Civil Aviation, Water and Environment, Marine and Harbour, Information and Communication Technology, Textile and Garment, Trade and Services. Besides these, the committee has recognized in four more categories of award for Bilateral Business Excellence Award for Women, SME Rising Star, CSR and Significant Contribution which have great impact in business and civil society eventually in the country’s ultimate development.   Chinese Enterprises Association in Bangladesh (CEAB) always encourages the strong presence of women in the business community. One Chinese and one Bangladeshi female recipient of the Bilateral Business Excellence Award for Women serve as inspirations to countless others, breaking barriers and paving the way for a more equitable and prosperous future. While many Chinese enterprises boast a robust financial foundation, it also will acknowledge and celebrate the contributions of two small and medium enterprises, one from Bangladesh and one from China, to recognize their contribution and to inspire further growth in bilateral trade and economic cooperation.   The bilateral committee which is jointly formed by BCCCI and CEAB is committed to organize “China-Bangladesh Business Excellence Award” annually to boost the Bangladesh-China business cooperation.

While China’s social, cultural, and religious engineering with its non-Han Chinese communities continues, Beijing has accelerated the process of Sinicization of Tibet so much so that even business firms dealing with Tibetan goods have been asked to use ‘Xizang’ in place of Tibet while marking their products from the region.    Last week, China’s e-commerce giant Weidian which operates over 90 million online retail outlets with a trading volume of 100 billion yuan ($13.7 billion), issued a notice to all its platform merchants to either use word ‘Xizang’ in the place of Tibet or face rejection of their goods, South China Morning Post said. Though no deadline has been issued for the acceptance of this transition, the management of the e-commerce company has asked its online retailers to display the word ‘Xizang’ on products sourced from Tibet, the Hong Kong-based daily said. No reason has been cited for the sudden decision to paint everything identified with Tibet with Chinese brush. However, the process of calling Tibet as ‘Xizang’ received a renewed push after Foreign Minister Wang Yi, during the third Trans-Himalaya Forum for International Cooperation in Nyingchi city on October 5, called for using ‘Xizang’ as the official translation for Tibet, which was annexed by China in 1950, a year after the CPC won the civil war. The two-day Trans-Himalaya Forum meeting was attended by representatives from 12 countries, including Nepal, Bhutan, Pakistan and Afghanistan, the Chinese Foreign Ministry said in a statement. At this meeting, as per media reports, Chinese Foreign Minister Wang Yi in his speech repeatedly used the word ‘Xizang’ while referring to Tibet, a region which is home to 3.5 million people. For example, he said, “China welcomes friends from all other countries to Xizang to personally witness Xizang’s tremendous achievements in its economic and social development.” But push came to shove when Chen Wenqing, a Communist Party of China’s politburo member and Chief of the Central Political and Legal Affairs Commission, in his address to a group of provincial security chiefs in Gannan in Gansu province on August 27 called for taking a clear stand to safeguard the unity of China, oppose ethnic separatism and ensure national security. He said they “must take the initiative to prevent and control risks and resolutely maintain the long-term peace and stability of not only the Tibet Autonomous Region (TAR) but also of prefectures with Tibetan majorities in the surrounding four provinces,” state-backed Xinhua news quoted Chen Wenqing as saying. These provinces with Tibetan majority are: Sichuan, Yunnan, Gansu, and Qinghai. Analysts say such developments show Chinese leaders are not fully convinced about the stability of the Tibetan region despite years of harsh crackdown on the people of the region. In the Tibetan region, monasteries are subjected to monitoring, monks and nuns are harassed and often persecuted by Chinese authorities. In the name of social management, it is alleged that large scale collection of data of Tibetans through DNA extraction, iris scans and facial recognition are being carried out. Early this year, the world was in for a deep shock when three UN experts in their report said that roughly one million Tibetan children have been separated from their families and forcibly placed into Chinese state-run boarding schools, as part of efforts to assimilate them “culturally, religiously, and linguistically into the dominant Han Chinese culture,” Time, an American news magazine, said while quoting the UN experts’ report. Giving chilling details of forced cultural dissociation of Tibetan children from their roots, the UN report quoted by Time said Tibetan children from rural areas are placed in residential schools, where lessons are “conducted solely in Mandarin Chinese with scant reference to Tibetan history, religion, and certainly not exiled spiritual leader the Dalai Lama.” Sinicization of Tibet and its culture, tradition and way of life has been speeded up since Xi Jinping became CPC General Secretary in 2013. In September 2020, when China and entire parts of the world were grappling with deadly coronavirus, Xi Jinping attended the seventh central symposium on Tibet, considered to be China’s highest-level meeting on Tibet, where he proposed three goals for the complete assimilation of Tibetans into Chinese mainstream life. First goal included, strengthening of political and ideological education in Tibetan schools by replacing religious texts with the CPC rulebook; second goal emphasized upon by the Chinese President, included strengthening of border defence and frontier security of Tibet by crushing any dissent brewing in Tibet; third goal included replacement of Tibetan scripts with Chinese characters. The third goal was also emphasized during a three-day seminar on Tibet in Beijing in August this year. The seminar, backed by the United Front Work Department, which oversees ethnic and minority affairs in China, was participated by 320 scholars, including 40 from outside mainland China, Xinhua news said. Their stand was that by replacing Tibet with the word ‘Xizang’ would lead to enhancing China’s international discourse on Tibet. Across state-backed media, the word ‘Xizang’ has been in use in China since 2019. According to South China Morning Post, the English language editions of People’s Daily, tabloid Global Times, official Xinhua news agency and broadcaster CGTN have been using ‘Xizang’ in their English language reports for the last five years. But no state-backed news outlet has ever completely replaced Tibet with ‘Xizang.’ Both names often figured in the Foreign Ministry statements also. After the October 5 direction, stress is being laid on calling Tibet as ‘Xizang’. The Chinese government says the move is a part of its effort to mainstream Tibetans’ life in China. In hindsight, however, the move is a part of forced cultural assimilation of Tibetans, which is being undertaken when the international community, including the US and the European Union have raised concerns over increase in human rights violations of Tibetans in China. Source: Tibet Press:

Prime Minister Sheikh Hasina called upon the European Union (EU) to extend its business facilities (GSP+) for six more years for Bangladesh like developing countries to smoothen its journey towards prosperity after LDC graduation today. Foreign Minister Dr AK Abdul Momen told a press briefing said, Prime Minister requested the European Union to extend its business facilities for six years instead of three years as Bangladesh like least developed countries (LDCs) have now been under pressure economically due to the Covid-19 pandemic and war. (BSS Repoerts) While briefing newsmen about Bangladesh Prime Minister's daily engagement in Brussels, he said the extension of business facilities will smoothen the journey of the LDC countries towards prosperity after LDC graduation. She made the remarks after holding several bilateral talks with European Commission (EC) and European Union Bank (EIB) and European Parliament leaders. The Prime Minister, who arrived in Brussels, Belgium on October 24 evening, attended a total of nine events including the opening plenary session of the Global Gateway Forum and other side events including bilateral talks. Several bilateral talks were held with EC President Ursula von der Leyen, Trade Commissioner and Executive Vice President of EC Valdis Dombrovskis, Commissioner for Crisis Management of the EC Janez Lenarcic, Vice-President of the European Parliament Nicola Beer, European Investment Bank President Dr Werner Hoyer and Commissioner for International Partnerships of the EC Jutta Urpilainen. During the talks, each and every person met her have highly praised Bangladesh's unprecedented development under the prudent leadership of Sheikh Hasina, said Information and Broadcasting Minister Dr Hasan Mahmud, who was present at the meeting. Replying to a query, he said that the biggest matter was that the invitation for the Prime Minister to join such a world forum in just two months ahead of the upcoming general election has proved that the world and EU stay beside the Prime Minister. Bangladesh Prime Minister in reply praised the EU for its role in socio-economic development of Bangladesh. The Foreign Minister said Bangladesh Prime Minister has sought larger investments from the EU countries in Bangladesh referring to the most congenial investment atmosphere in Bangladesh. Rohingyas, climate change and relation issues have come prominently during the meetings with the EU leaders. But no issues on the upcoming election and the human rights have come for discussion, he said. The Foreign Minister said Bangladesh is a role model for establishing human rights, justice, human dignity and democracy as 30 lakhs people sacrificed their lives for the noble cause. Commissioner for Crisis Management of the EC Janez Lenarcic assured Bangladesh of giving additional EUR 10.5 million for the Rohingyas, Dr Momen said. The Foreign Minister said Bangladesh Premier and the EU leaders vowed to elevate the existing 50 years bilateral relations between Bangladesh and EU to elevate to another level. To this end, the Prime Minister has gave consent to negotiate for signing a partnership agreement with the EU, he said. Dr Momen said that the Prime Minister today made history after giving her address at the opening plenary session in the Global Gateway Forum conference and all Bangalees should proud of her. "She (Sheikh Hasina) has become the attraction of the whole event," she said, adding that claps are being given time and again and all the leaders attended the session rushed to her and praised her for her speech as the Prime Minister appealed to stop the war and arms race in her speech. To this end, Information and Broadcasting Minister Dr Hasan Mahmud said," The focus of the plenary session was Sheikh Hasina. Whole international press rushed to cover Sheikh Hasina". He said the speech of Bangladesh Prime Minister was the most touching and most appealing among the speeches given in the opening plenary session of the Global Gateway Forum. PM's Principal Secretary Md Tofazzel Hossain Miah and Economic Relation.

Donald J. Trump was in New York to appear before a judge in one of the myriad civil and criminal trials that the 77-year-old former US president and front-runner for the Republican Party's 2024 presidential nomination is currently engaged in. In New York, he appeared voluntarily in a civil suit that could cost him and his sons control of their family business empire. Last week, Judge Arthur Engoron ruled in favor of New York Attorney General Letitia James, finding that Trump and his sons had grossly inflated the size and value of Trump Organization real estate and financial assets, in what James had called a pattern of "persistent and repeated fraud." Engoron found that Trump and his sons lied to tax collectors, lenders and insurers, regularly inflating the value of their holdings by $812 million-$2.2 billion (roughly €750 million to €2.1 billion) from 2014 to 2024. In the ruling, some of the Trump Organization's operating licenses in New York were revoked. Should the Engoron's ruling be upheld upon appeal, Trump could lose control of properties such as Trump Tower.  James is now seeking $250 million in fines for the company and the removal of Trump and his sons, Eric and Don Jr, from Trump Organization management positions. Trump called the case a "sham," repeating his well-worn refrain: "This is a continuation of the single greatest witch hunt of all time." Trump's 'phenomenal' financial statements have disclaimer saying do not trust these numbers   Enrogon, who ruled against Trump last week, will now preside over a nonjury trial on six further claims in James' suit. These include: conspiracy, falsifying business records and insurance fraud. Trump, who called the case "a corporate death penalty," claimed on his social media platform, Truth, on Sunday night that "I have a Deranged, Trump Hating Judge, who RAILROADED this FAKE CASE through a NYS Court at a speed never before seen." "My financial statements are phenomenal," Trump said Monday. In recent sworn testimony, Trump — whom James said inflated his own personal wealth by as much as $3.6 billion — said he couldn't be accused of filing bogus numbers because his financial statements were accompanied by a disclaimer advising people to "go out and do your own work" to appraise the value of his holdings. He said the disclaimer should have led people to surmise his stated figures were "worthless." 

Business leaders on Saturday said the massive hike in prices of petroleum products would further fuel the unprecedented inflation, intensify miseries for the common man and create serious issues for the industry due to the unbearably high cost of doing business. They criticised the caretaker government that it should have kept the prices of petroleum unchanged due to the falling landing cost of imported crude on account of the persistent rise in the rupee strength against the dollar in the last eight interbank sessions despite rising crude oil prices in the world market. The government had raised petrol and diesel rates by 8.5pc and 5.6pc, respectively, effective Sept 16. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh, in a statement, explained that the rupee closed at 296.85 for a dollar in interbank on Friday, reflecting more than Rs10 to a dollar gain which touched Rs307.10 on Sept 5. He chief recalled that the apex chamber had forewarned the authorities several times over the last few months to address the teething problems in the import of the Russian crude, i.e. handling of oil cargoes; adjustments required vis-à-vis refining processes and commercial transactional procedures to settle oil payments. Nevertheless, the authorities failed to listen to the FPCCI and currently the country would have more Russian crude by now, which is cheaper by a whopping 40pc as compared to international markets today. While appreciating the status quo in the key policy rate by the State Bank, Mr Sheikh said the trade and industry was looking for a discounted and regionally competitive export finance scheme (EFS), long-term financing facility (LTFF) and temporary economic refinance facility (TERF) rates to cope up with the economic instability, cost of doing business and restoring competitive equilibrium in its exports. Offering a different view, Pakistan Business Council (PBC) chief executive officer Ehsan Malik said that with an increase in the global cost of fuel and our high degree of reliance on imports, a price revision was inevitable. However, even after the latest increase, the price per litre of petrol at Rs331.38 and of diesel at Rs329.18 in Pakistan is lower than those across the border in India. With the present pressure on both the current and fiscal accounts, he said “we can’t afford to lower taxes to buffer the impact of rising global cost of fuel. Besides, we have commitments to the IMF to deliver,” Mr Ehsan said. Karachi Chamber of Commerce and Industry (KCCI) president Mohammad Tariq Yousuf, in a statement, said it has become almost impossible to run the industries at such a high cost. This was the fourth consecutive hike in petroleum prices whereas, during the tenure of the caretaker government alone, the petrol price has been raised by more than Rs58 per litre, which was going to create a lot of problems for the already ailing economy as the production has been curtailed by many industrial units to a great extent due to high cost. The general public was already overburdened because of the recent increase in electricity tariffs which is aggravated by the extraordinary upsurge in petroleum prices, triggering severe anxiety not only amongst the masses but also the business and industrial community. Given the economic crisis being faced by the country, the government has to take harsh steps to generate the required revenue for overcoming expenditures and fulfilling international commitments. However, instead of taking these steps back-to-back, the government should devise some kind of an effective strategy to ensure some sigh of relief to the masses and the industry who will not be able to bear the brunt caused by consecutive price hikes. Tariq Yousuf stressed that the emerging situation has to be efficiently addressed and handled very carefully otherwise, the rising petroleum prices and electricity tariffs would continue to increase the cost of doing business, which would terribly affect the industrial performance, raise unemployment and open the floodgates of inflation, particularly for the middle and lower segments of the society, besides making the poor poorer due to unbearable inflation. Source: dawn.com

Chinese business community and Bangladesh-China Alumni called for Overseas Bangladeshi students to return home and contribute to their homeland’s development at the opening ceremony of the Belt and Road Initiative in Bangladesh Exhibition 2023 which took place on Friday morning at Bangabandhu Bangladesh–China Friendship Exhibition Centre in Purbachal, Dhaka. HighlightingChinese companies’unwavering confidence in Bangladesh market, Mr. KeChangliang, the President of CEAB, unveiled a robust localization strategy being adopted by Chinese business communityin a move to tap into global expertise to drive localized solution that cater to unique business environment of Bangladesh.  “Most Chinese companies are going through reforms in Bangladesh in the direction for setting up regional HQ and deepening localization. During this BRI in Bangladesh Exhibition, there will be a job fair for Bangladeshi returnee students from China.I hope through this job fair, both Bangladeshi returnee students can get good offers and Chinese companies can source the right people. We will set up a long-term platform for such talent matching activities, ”He said in his opening speech. Mr. Munshi Faiz Ahmad, Chairman of Association of Bangladesh-China Alumni (ABCA) and former Ambassador of Bangladesh to China, welcomed Chinese business community’s localization trend and underscored the valuable skills and experiences that Bangladeshi returnee students could bring to their homeland as assets that align seamlessly with Bangladesh’s vision for growth and innovation. Executive Chairman of BIDA of Prime Minister’s OfficeMr. Lokman Hossain Miah, Minister Counsellor, Charge d’affaires of Chinese Embassy in BangladeshH.E. Mr. Yan Hualong,Vice Chairman of EPBMr. A.H.M Ahsan,Additonal Secretary and Wing Chief of ERD,Ministry of FinanceMr. Md. Anwar Hossain, and President of BCCCIMr. Gazi Golam Murtoza also addressed at the Seminar. The Belt and Road Initiative in Bangladesh Exhibition 2023, hosted by Chinese Embassy in Bangladesh in association with Chinese Enterprises Association in Bangladesh (CEAB)and  Bangladesh China Chamber of Commerce and Industry (BCCCI), brought together a total of 400 government officials, diplomats and business professionals to network and explore strategies for facilitating cooperation between Bangladeshi and Chinese business communities.  The Exhibition took place from 8-10 September 2023, aiming to review the fruitful results of the proposed Belt and Road Initiative in Bangladesh during its 10 years track and propose approaches to strengthen bilateral cooperation so as to  drive ever-lasting socio-economic growth of Bangladesh.

Foreign Minister Dr. A. K. Abdul Momen, M.P. received a business delegation from Indian Chamber of Commerce (ICC) from India today in the afternoon at the Ministry of Foreign Affairs, Dhaka. Dr. Momen, during his interaction with the delegation, expressed his satisfaction over the excellent bilateral relation between Bangladesh and India.  He noted that both Bangladesh and India have made remarkable growth in trade and investment in the recent years. He urged that the two countries should work together to complement each other’s economies, especially, when the world is experiencing economic recession due to Covid-19 pandemic and ongoing geopolitical crisis. Dr. Momen noted, due to the dynamic leadership of Prime Minister Sheikh Hasina, regional stability has been ensured, which has benefited both the countries to augment economic growth. Dr. Momen stressed on working for the promotion of bilateral trade and commerce in a balanced manner and emphasized to remove all kinds of trade barriers, especially, tariff and non-tariff barriers for enhancement of trade volume between Bangladesh and India.  He invited the business delegation to invest in Bangladesh and take advantage of the congenial investment regime of the country. He stressed on developing the two Special Economic Zones (SEZs) located at Mirsarai and Mongla dedicated for India at an expeditious manner, so that, more investment can be accommodated. The Indian delegation appreciated the recent remarkable socio-economic growth achieved under the dynamic leadership of Prime Minister Sheikh Hasina. They expressed their readiness to engage with various business bodies for promoting trade and commerce with a view to achieving economic development in both the countries.  They also expressed their keen interest in investing in Bangladesh especially in health, education and power sector. They also proposed to launch BIMSTEC Chamber of Commerce to promote trade and commerce amongst the BIMSTEC member states.  Foreign Minister appreciated the idea and assured of extending necessary support in this regard. Indian Chamber of Commerce which was set up in 1925, has a special focus on promoting trade and commerce in the South Asian and South East Asian countries. They are visiting Dhaka from 6-8 August 2023 and meeting various Chambers and business houses in Bangladesh.