India is evaluating free-trade proposals from a clutch of South American and African countries, as it seeks to be more open to such agreements, in its bid to improve access to world markets for goods and services. While a free trade agreement with the UK is set to be completed before the end of the year, and negotiations are underway with the European Union, Australia and Canada for broad economic partnership agreements, talks are to restart soon with Peru for such a pact, after a break caused by the pandemic “We have decided to proceed with the FTA negotiations with Peru. We would be working out the priority areas… Post September, we will start engaging,” commerce secretary Sunil Barthwal told reporters here. The secretary said Chile is also requesting for a similar agreement. “If the countries are interested in FTAs, we will also look into possibilities,” he said on the sidelines of CII’s India-LAC conclave. The Latin America and the Caribbean (LAC) Region nations include Belize, Ecuador, Nicaragua, Brazil, El Salvador, Panama, Chile, Guatemala, Peru, Costa Rica, Guyana, and Suriname. Peru is the fourth leading trade partner of India in the LAC region, while India is Peru’s ninth-largest global trading partner. The FTA talks had started in 2017 but got disrupted due to Covid. India-Peru bilateral trade stood at $3.11 billion in 2022-23, down from $3.6 billion in 2021-22. In FY23, India’s exports to Peru were $866 million and imports stood at $2.25 billion. Exports to Peru include automobiles, motorcycles and three-wheelers, polyester and cotton yarns, pharmaceuticals, iron and steel products, plastic products, rubber, pipes for oil and gas industry, tyres and pipes. India imports gold, copper, synthetic filaments, phosphates of calcium, fresh grapes and other farm products from the country. As far as the India-UK FTA is concerned, both sides are close to reaching a common ground on issues of intellectual property rights, rules or origin and investment treaty. On the other contentious issues of automobile tariffs and wines and spirits also, both sides have reached a broad consensus. On automobiles, the UK wants India to cut duties on imports for its manufacturers from the highs of 100% and on spirits from 150%. India is also seeking a change of rules regarding classification of products under the category so that its wines and spirit industry gets access to the UK market. The Indian industry is demanding greater access for its skilled professionals in the UK market while the UK is looking for more opportunities for its services into the Indian markets. Barthwal said considering that imports from India constitute less than 2% of LAC’s total imports, there is significant scope for expansion of the India-LAC bilateral trade. Efforts are underway to double the bilateral trade to $100 billion. In FY23, bilateral trade between India and LAC countries was close to $50 billion. Barthwal also emphasised the need for a closer India-LAC cooperation in the area of energy transition. Fresh thinking is called for in areas like renewals, battery manufacturing, energy storage technology and chemical industry impact that are aligned with the net-zero goal, he said. Source: Financial Express

The Cabinet Committee on Government Purchase (CCGP) today (Wednesday) approved five power sector proposals, including setting up a gas or Regasified Liquified Natural Gas (RLNG) based 660 MW power plant at Mirsharai upazila in Chattogram.    The approval came from the 42nd meeting of the CCGP in this year held today virtually with Finance Minister AHM Mustafa Kamal in the chair.    Briefing reporters after the meeting virtually, Cabinet Division Additional Secretary Md Shamsul Arefin said that a total of 12 proposals were approved today as one proposal from the Shipping Ministry was withdrawn from the meeting.    He said a consortium of Confidence Power Holdings Limited, GE Capital US Holding Inc, Confidence Power Limited, and Electropac Industries Limited has been given the go-ahead to set up the gas or RLNG based power plant.     In a 22-year period, the government will buy electricity worth Taka 69,152.16 crore from the power plant, he added.    He informed that CCGP has also given tenure extension of the four rental power plants. Of them, he informed that a 53 MW gas-based rental power plant in Ashuganj, Brahmanbaria, sponsored by United Energy Ltd, has been extended for five years.     Taka 451.20 crore will be spent to buy electricity from the plant, he added.    He mentioned that the Kumargaon 50 megawatt gas-based rental power plant, located in Sylhet sadar upazila, gets a tenure extension of one year, until December next year, from where the government will buy electricity at a cost of Taka 86.52 crore.     He said another gas-based 50MW rental power plant of Energy Prima Ltd in Fenchuganj, Sylhet gets a tenure extension of three years.     The extension will cost the exchequer Taka 278.64 crore for buying electricity, he added.    He said the Energy Prima Ltd's another 20 MW gas-based rental power plant in Bogura district has also been extended for three more years.     The government will buy electricity from the plant at Taka 106.92 crore, he added.    Asked about the necessity of tenure extension of the power plant, Mustafa Kamal said rental power will be bought on no electricity, no pay basis.    He said the tenure of many rental power plants have already passed and they have realised capital costs and all other things.     "We won't have to pay extra charges for their operations. Only electricity price will be paid," he added.     The minister said Bangladesh will have to set up some more power plants to meet demand as the government has stopped giving approval to new coal-based power plants in line with its commitment to saving the planet from the impacts of climate change. Source: BSS AH

Foreign Minister Dr. A K Abdul Momen has submitted four-point proposal to the United Nations with a view to create nuclear weapon free world for sustainable development. He submitted the proposal after taking part in a plenary session of the United Nations. The information was delivered through a press release of the foreign ministry on Saturday. While delivering his speech in the session which was organized on the occasion of international nuclear weapon restraint day, he said, we have to restrain nuclear weapons to establish peace in the world. The proposed four-point proposals are- establishing nuclear weapon free zone, using nuclear technology for human welfare, taking steps so that nuclear weapon never reaches to terrorists and creating public awareness for restraining nuclear weapons. Mentionable, Bangladesh signed the United Nations Treaty on Non-Proliferation of Nuclear Weapons in 2019. AH  

With a pleading that Myanmar must manifest a clear political will for sustainable return and reintegration of Rohingyas to their homeland, Prime Minister Sheikh Hasina has placed a four-point proposal before the 74th United Nations General Assembly (UNGA) to resolve the protracted Rohingya crisis. “The Rohingya crisis is now becoming a regional threat”, said Sheikh Hasina, seeking expeditious interventions from the international community for a permanent solution to the crisis. “Myanmar must manifest clear political will supported by concrete actions for sustainable return and reintegration of Rohingyas to Myanmar,” she said in her first proposal while delivering the country statement in the General Debate of the 74th UNGA Session. Sheikh Hasina delivered the statement in Bangla like every year in the past at the General Assembly Hall in the UN Headquarters in New York on Friday afternoon local time. Reports BSS. This year’s theme of the general debate is “Galvanizing multilateral efforts for poverty eradication, quality education, climate action and inclusion”. Tijjani Muhammad-Bande of Nigeria was elected the President of the 74th UNGA Session. In her second proposal, the premier said that Myanmar must build trust among the Rohingyas by discarding discriminatory laws and practices and allowing “go and see” visit to the Northern Rakhine by the Rohingya representatives. “Myanmar must guarantee security and safety of the Rohingyas by deploying civilian monitors from international community in the Rakhine State,” she said in her third proposal. The premier in her last proposal said the international community must ensure that the root causes of Rohingya problem area addressed and the violation of human rights and other atrocity crimes committed against the Rohingyas are accounted for. Sheikh Hasina mentioned that in the past, she had offered a five-point proposal to the United Nations during the 72nd UN General Assembly to put an end to the Rohingya crisis. “The proposals included full implementation of recommendations of the Kofi Annan Commission, and establishment of civilian monitored safe zone in the Rakhine State,” she said. Requesting the international community to understand the un-tenability of the situation, the premier said the crisis is now going beyond the camps. “Despite our all efforts to contain it, the crisis is now becoming a regional threat. Moreover, increasing congestion and environmental degradation is challenging health and security in the area,” she said. Expressing her disappointment over the Rohingya crisis, the Prime Minister said, “It is indeed unfortunate that I have to again raise this issue in this august body as the Rohingya crisis remains unresolved. We continue to host 1.1 million Rohingya who were forced to leave Myanmar due to atrocities committed against them.” Sheikh Hasina said the crisis is now lingering into the third year; yet not a single Rohingya could return to Myanmar due to absence of safety and security, freedom of movement and overall conducive environment in Rakhine State of Myanmar. Terming the Rohingya issue as a matter of Myanmar and its own people, the Prime Minister said, “We are bearing the burden of a crisis which is Myanmar’s own making … it’s an issue solely between Myanmar and its own people, the Rohingyas. They themselves have to resolve it,” she said. Sheikh Hasina said the voluntary return of the Rohingyas to their homes in the Rakhine state in safety, security and dignity is the only solution to the crisis. “We’ll continue our engagement with Myanmar to make repatriation of the Rohingyas to happen,” she added. AH

Mohammad Abdul Hamid is going to be the President for the second term. Monday 4 pm was the last time for submitting nomination papers to the Chief Election Commissioner at the Nirbachan Bhaban at Agargaon in the capital. In the stipulated time frame three nomination papers were submitted for Abdul Hamid. Except those, nobody has submitted nomination papers. In the first nomination paper Obaidul Quader acted as the proposer and Tofael Ahmed was the supporter. In the second nomination paper Bangladesh Workers Party President Rashed Khan Menon was the proposer and Chief Whip of parliament ASM Feroz was the supporter. In the third nomination paper Jatiya Party Chairman Hussain Muhammad Ershad became the proposer. Whip Md. Atiur Rahman Atik was the supporter. Chief Election Commissioner KM Nurul Huda said in this regard that scrutinizing will be held on February 7. If we see there is no other nomination paper then we will declare the name. There would be voting in the parliament if more than one candidate is available. According to the election schedule by the Election Commission the last date of submitting nomination paper to the Chief Election Officer was on Monday from 10 am to 4 pm. Scrutinizing of nomination papers on February 7 and withdrawal on February 10 till 4 pm. The election was scheduled to hold on February 18 in the parliament from 2 pm to 5 pm. AH