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Valuables worth around Tk 200-300 crore damaged in arson attack on BTV, says its DG
Valuables worth around Tk 200-300 crore were damaged during the arson attack on Bangladesh Television (BTV) building amid the students’ protests over quota reform on July 18.
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“How much valuables were gutted or destroyed could not be ascertained yet but primarily it can be said valuables worth around Tk 200-300 crore were gutted in the arson attack”, Director General of BTV Dr Md Jahangir Alam told UNB.
Most of the valuables of the three-storey BTV building were gutted, he said.
“The attackers first vandalised the main gate of the building around 11 am and then set fire to the reception desk around 2 pm. Later, they torched 17 vehicles parked on the premises of the BTV building. Nine vehicles were also vandalized. Some 100 staffers tried to resist the attackers but failed,” he added.
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Meanwhile, the attackers also vandalised two vehicles of Fire Service while those were heading towards BTV building and forced them to return, said Dr Jahangir.
Besides, a vehicle, which was used for live telecast in different parts of the country, was also set on fire and the market value of the vehicle is Tk 6-7 crore, he said.
Apart from that, the attackers also set fire on the design section and Dhaka centre, he added.
Around 8 pm, all officials and staff of the BTV came out from the building fearing danger.
“We managed to save the control room after disconnecting the electricity line,” he said.
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“There were valuables worth Tk 2 crore at the design section. 100-year-old and 50-year-old memories, houses, war-time equipment and other valuables kept at the design section were gutted,” he said.
Besides, the Bangabandhu Meuseum was also gutted.
Pillars, servers, office rooms, laptops, computer labs, news programme and display TV were also damaged.
“Perhaps there was something flammable substance which helped to spread the fire fast,” he said.
Already, three separate committees were formed to probe the attack and the committees will assess the extent of the damages caused by the arson attack.
Dhaka in turmoil: Multiple clashes, arson incidents reported
A wave of clashes have gripped the capital since this morning, plunging Dhaka residents into a state of anxiety. Clashes between protesters and police have erupted in various parts of the city, resulting in widespread disruption and violence.
Tension escalated with fires being set at BTV in Rampura, along with multiple police boxes being torched. Hundreds have been injured in the confrontations, and the death toll currently stands at three.
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Public transport in Dhaka is almost non-existent, with the few available buses and private cars largely empty. Both government and private offices, including the Bangladesh Secretariat, are eerily quiet, with significantly reduced attendance. The usual hustle and bustle of city life has come to a standstill.
At the Secretariat, even the Cabinet Committee meetings on economic and procurement issues, scheduled for 12 pm, were canceled without explanation. Additionally, a program featuring the Industries Minister at the International Convention City Bashundhara was called off due to "unavoidable reasons."
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On-the-ground reports and inquiries reveal that students from educational institutions such as United International University, North South University, and Independent University, Bangladesh gathered in areas like Notun Bazar, Bashundhara, Nadda, and Kuril, blocking roads and halting traffic flow between Kuril and Rampura Bridge.
Early in the morning, students blocked roads in Badda. Clashes erupted between students and police near BRAC University, with students from various schools, colleges, universities, madrasas, and medical colleges joining the fray.
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In Rampura, students from East West University took to the streets, leading to police baton charges and tear gas deployment. Meanwhile, Kakrail to Paltan saw student processions disrupting traffic. A procession from the Press Club circled Paltan and returned to Kadam Fountain in front of the Press Club, chanting slogans and blocking the road.
Malibagh and Abul Hotel intersection also witnessed student sit-ins. At Uttara's Zamzam Tower, a traffic police box was vandalized, and two buses were damaged amid ongoing skirmishes between protesters and police.
Further clashes were reported in Motijheel and Mirpur-10, which have turned into virtual battlegrounds. Fires were set at a police box in Rampura, and running battles occurred on the streets.
On the Dhaka-Chattogram highway near Kajla, repeated clashes between police and protesters took place. Police fired tear gas, while protesters hurled stones and wielded sticks. Jatrabari remains volatile after last night's fierce clashes and arson at the Hanif Flyover toll plaza.
A pair of chicken costs Tk 70,000!
Faisal Ahmed Shuvo, a college student from a remote village in Bagerhat, has become an inspiration for many unemployed youths in the area for his success in farming of 25 foreign chicken breeds.
Inspired by his success, other youths are seeking advice on starting their own farms. A pair of American Wyandotte Splash chickens of his farm is now selling at Tk 70,000.
Shuvo, an Honours second-year student from Malliker Ber village in Rampal Upazila, started his experimental foreign chicken breeds farming in 2019 after watching YouTube videos.
He borrowed Tk 3,400 from his father and bought four European Silkie chickens. Over time, he acquired more foreign chickens, turning his hobby into a source of income.
His farm, Shuvo Agro, now earns him Tk 500,000 to 600,000 annually.
In addition to European Silkie chickens, his farm now has 200 to 300 foreign chickens of 25 species including European Brahma, Silkie, Hamburg, Silver, Brahma, Cosmo, Fighter, Ringneck, Buff Polish Cap Frizzle, White Polish Cap, Bantam, Wyandotte, Sebright, and other species. He has also installed an incubator machine for hatching eggs.
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Faisal said, "I had a hobby of raising chickens. In 2019, I bought four European Silkie chickens with 3,400 Taka from my father after watching YouTube videos. Once they started laying eggs, I never looked back. Now, I have at least 25 species of foreign chickens and sell chicks online through social media, especially Facebook. I couldn't have achieved this without my family's support."
He said that his farm's annual income is Tk 6 lakh with the most expensive pair of Wyandotte Splash chickens costing a pair Tk 60,000 to 70,000 .
The farm also houses the world's smallest bird species, the King Quail, originating from Asia and Australia, with a pair priced between Tk 8,000 and Tk 10,000.
He sells chicks hatched from eggs, with one to ten-day-old chicks costing Tk 1,000 to 1,200 per pair, and fully grown chickens priced between Tk 20,000 and Tk 70,000 per pair, said Shuvo.
He has sold chickens in 55 districts including Bagerhat, Khulna, Barishal, Mymensingh, Chattogram, and Cumilla.
Inspired by Faisal, many unemployed youths have started their own foreign chicken farms.
Visitor Soikat Sheikh said, "I saw these chickens on YouTube, and now I can see them in person. It feels great."
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Another visitor, Robiul Islam, said, "As a young entrepreneur, I want to start a foreign chicken farm, so I came to see Shuvo's farm. I saw many species of foreign chickens and was very impressed."
Faisal's father, Saiful Islam, said, "Shuvo is an example of how one can earn money without chasing jobs. He achieved what we couldn't in our time, thanks to the internet."
Bagerhat District Livestock Officer Mohammad Saheb Ali said, "I have heard about Faisal Ahmed Shuvo's foreign chicken farm, which has about 25 species from various countries. The district livestock office is keen on supporting such young entrepreneurs in every possible way."
Floods give way to erosion: Residents of country's poorest district cope with double whammy of disasters
"We are heading to my sister’s house in Guzimarir Char for refuge,” said Rokeya from Haquer Char, a woman who just recently lost her homestead to the recent flood that stranded around 2 lakh people in the northern district of Kurigram.
Their son, Ruhul Amin, is taking his HSC exams from a hostel in Ulipur upazila, while their daughter, Sharmin, an 8th-grader, now struggles to continue her education due to distance and transportation issues. She somehow managed to talk about her family’s situation while taking a last look at what used to be their home, now swallowed by the river, before stepping onto the boat with their remaining possessions.
Rokeya and her husband, Shahaabul, an agricultural laborer, are relocating with their belongings from their destroyed home in Hatia Union.
Despite the receding waters of 16 rivers in Kurigram, the Brahmaputra river at Chilmari point remains perilously high, flowing 17 centimeters above the danger mark. The resultant river erosion has left 458 families homeless, exacerbating the misery of flood victims.
Relief for flood victims in Kurigram ‘scanty’; 2 lakh people still stranded
District Commissioner Mohammad Saidul Arif reported that the floods have impacted nine upazilas, 55 unions, and one municipality, submerging 662.75 square kilometers. Relief efforts have been insufficient.
Mozaffar Hossain, chairman of Saheber Alga Union Parishad, described the severity of the situation in the Char areas: “In my union alone, 197 families have been rendered destitute by river erosion during this flood.”
Among the worst-hit areas are Haquer Char, with 90 families, Dakkhin Namazer Char with 47 families, and Daikhawar Char with 60 families. Hossain mentioned that while his union comprises approximately 6,500 families, only 500 are financially stable. The rest are mostly poor, with 90% of the population trapped by floodwaters.
So far, the residents of the union have received 2 tons of rice and 100 packets of dry food as relief. Many have yet to receive any relief.
Amjad Ali from Haquer Char, along with his wife and three children, is also facing an uncertain future. “For now, we will seek refuge with relatives,” he said, as his family packed their few belongings.
Flood situation in Kurigram, 5 other districts likely to remain steady: FFWC
Hazra Begum, another resident of Haquer Char, expressed her despair after losing her government-provided house to the river. “If you can, please ask the government to give us a house again. Otherwise, we have nowhere to live,” she pleaded.
Shahabuddin, 70, and Hajera Bewa, 65, who have lived in Haquer Char since 2010, also lost their government-provided house to erosion. They are now moving out.
“We are moving to a char in Raniganj Union of Chilmari Upazila. We urgently need new shelters,” Shahabuddin said.
Former Hatia Union chairman Abul Hossain described the relentless erosion of Haquer Char as being eroded by the Brahmaputra River in a U-shape. “The entire char is gradually being swallowed by the river,” he said.
The area serves as a refuge for people from four different unions who have been repeatedly displaced by river erosion, resulting in a lack of coordinated support for these vulnerable communities.
“This char is situated at the border of Hatia Union, Nayarhat, Saheber Alga, and Raniganj. People from these four unions have sought refuge in this char at various times due to river erosion. Consequently, no union parishad takes significant responsibility for them, leaving them neglected,” he said.
Severe flood strands nearly 2 lakh people in Kurigram
At the Guzimari in Hatia Union, 90 families have endured waterlogged conditions for about 20 days, with no work or money. Despite their dire situation, no government relief has reached them.
Residents like Ful Mia,65, Dulu,60, Mukul,57, Saherbanu Bewa,70, Rahima Bewa,65, expressed their frustration. “If I don’t get work, I go without food. Due to the floods, no one is hiring me now," Rahima said. Saherbanu Bewa, who relies on begging, can no longer do so due to the floodwaters.
The number of flood-affected families in Kurigram now stands at 37,100, with 458 families displaced by river erosion and 7,350 hectares of crops damaged.
Poor hilsa catch disappoints Bhola fishermen in the peak season
More than five weeks have passed since the authorities lifted the ban on hilsa fishing, but the poor catch of the delicious fish from the Meghna-Tetulia River in Bhola district frustrated the fishermen
Fishermen are returning from the rivers with utmost disappointment and spending their days in extreme distress with their families.
Most of them were worried about repaying the loans they took during the monsoon.
The Fisheries Department said the desired quantity of hilsa will be available after the water in the river increases a little more.
Locals said about 30 percent of the country's hilsa is collected from Bhola’s Meghna-Tetulia rivers but this year, but there is inadequate hilsa in the fishermen's nets during the full monsoon.
Every day, thousands of fishermen go to the Meghna andTentulia Rivers for catching hilsa but they have to return without getting their desired hilsa.
Besides, the price of engine fuel oil of the trawler and other costs were also high, making the fishermen worried.
Some 2 lakh fishermen are involved in netting hilsa after taking loan from the local mohajan (lenders)in the district.
Due to the poor catching of hilsa and rising costs many force the fishermen to leave their ancestral profession, some of them told the reporter.
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How prepared the health authorities are to tackle the upcoming dengue season
Bangladesh witnessed the deadliest year of dengue outbreak in 2023 with over three lakh dengue cases and 1700 deaths.
Dengue cases have already started rising with the advent of monsoon this year despite the claim by the authorities concerned that they took necessary preparations to curb spread of the mosquito-borne disease.
Families affected by dengue last year are wary about the preparedness.
Shirajam Monira, a resident of Kalyanpur in the capital, said, "My close relative's child died of dengue last year. Last year, dengue situation turned so severe that several members of a family got infected at a time. This would not have happened if necessary measures had been taken. There are fears this year as well. So, if timely measures are taken, the risk of dengue will be reduced.”
Munni Akhter's daughter Mantasha is 10 years old. Last year, she was severely affected by dengue.
Platelets came down to 10,000 and her liver was affected. Although she somehow survived, the doctors said to be careful for the rest of his life. If she gets dengue for a second time, she may not be saved.
“We got afraid when she caught a fever. Because, last year I saw the horror of dengue,” said Munni.
This raises question as to how well preared the authorities are to tackle another possible outbreak.
Dengue cases, fatalities in last five years:
According to the Directorate General of Health Services (DGHS), the number of dengue patients was 10,148 in 2018 with fatalities reported at 26.
In 2019, dengue cases increased to 1,01,354 with 179 deaths. In 2020 1,405 cases and 7 deaths were recorded. There were 28,429 cases and 105 deaths in 2021 while the cases climbed to 62,382 in 2022 with deaths 281.
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In 2023, considered as the deadliest year, the number of cases soared to 321,179 with 1,705 people deaths.
Until July 7 this year, DGHS recorded 3978 cases and 46 deaths, raising concern about another possible outbreak.
DGHS’s preparations to cope with Dengue:
According to the DGHS, it has taken an action plan for 2024 based on the National Dengue Prevention & Control Strategy (2024-2030).
Instructions for prevention and control of dengue have been shared with all government hospitals before the start of the season and the hospitals are well prepared, it said.
It said it has strengthened surveillance by introducing Dengue Tracker for real time data collection (with actual address and avoid duplication).
Focal points for secondary and tertiary hospitals were identified and WhatsApp group was opened for quick communication and actions.
Trained doctors and paramedics are in place for proper patient management in the hospitals, it said.
Dengue test kits are available in all government hospital (12 lakh kits distributed).
Health and Family Welfare Minister Samanta Lal Sen has given necessary instructions to all government hospitals for procurement of adequate fluid.
Awareness and community engagement campaign was launched (formation of RCCE platform messages from the health minister, the state minister and the health secretary).
Government introduces ‘Transfer of Development Rights’ to protect agricultural lands
The Government of Bangladesh has launched the ‘Transfer of Development Right (TDR)’ initiative, similar to those in developed countries, to safeguard agricultural lands, three-crop fields, and reservoirs outlined in the Detailed Area Plan (DAP) (2022-2035).
Under the TDR system, landowners of agricultural areas will receive shares or permissions to construct buildings in other developable parts of the city. This mechanism aims to preserve agricultural land while allowing for urban development, according to an official document.
TDR program balances the asset value for landowners by transferring the right to build from environmentally protected areas to development-encouraged zones, the document states. The overall number of homes remains unchanged, thus ensuring compensation for landowners in restricted areas without affecting profits elsewhere.
At the recent Deputy Commissioners’ conference, directives were issued to ensure the conservation of three-crop lands during land acquisitions for development projects. “Strict legal action will follow if complaints arise,” the document warned.
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Districts under divisions including Rajshahi, Chattogram, Khulna, Barishal, Sylhet, Rangpur, and Mymensingh have been instructed to avoid selecting three-crop lands for housing or other development purposes. These lands are rigorously monitored by district and upazila administrations to prevent misuse.
The document highlighted measures taken, such as denying permission for pond digging in three-crop lands and raising public awareness through mass campaigns. Regular mobile court operations are conducted to prevent illegal activities, with offenders being arrested and fined.
The proposed Land Zoning and Protection Act of 2024 will further ensure that three-crop lands are used solely for agriculture. Meanwhile, development authorities under the Ministry of Housing and Public Works are preparing master plans to preserve these lands.
A draft position paper by the Department of Urban Development underscores the ecological damage caused by unplanned industrial establishments and the loss of valuable agricultural lands. A comprehensive land use plan for Bangladesh is being developed based on this paper.
With this framework, unauthorized housing and pond digging in designated three-crop lands can be stopped, the document says.
Read more: UCB organises day-long skill development training for agricultural entrepreneurs in Kushtia
BNP to announce programme in coming days tapping into mood of protest across nation
As public university campuses have become heated with separate movements by teachers and students, the BNP is gearing up to escalate tensions in the political landscape with a series of anti-government street programmes focusing on three specific issues.
The BNP policymakers at their recent meeting proposed announcing action programmes protesting widespread corruption and anti-state MoUs with India alongside those demanding Khaleda Zia's release, aiming to exert serious pressure on the government and garner public support.
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The party has already observed a three-day programme in the capital city, as well as in all other cities and districts, demanding the unconditional release of its chairperson, Khaleda Zia.
Taking to UNB, a BNP standing committee member, wishing anonymity, said they think now is the right time to intensify the anti-government movement on the streets, aligning it with the ongoing protests by university students and teachers on campuses.
In their last meeting, he said some standing committee members proposed action programmes like demonstrations, human chains, sit-ins and rallies in Dhaka and all other cities, districts and upazilas on the three specific issues.
“However, the programmes have not yet been finalised. The programme is likely to be finalised in our next meeting on Monday. We’re trying to work out some more innovative and effective programmes,” the BNP leader said
As per their initial plan, he said BNP will observe the programmes demanding Khaleda’s release independently while the programmes against corruption and MoUs with India will be observed simultaneously with other opposition parties.
Another BNP standing committee member said their party’s some policymakers, during their last meeting, opposed announcing direct political programmes against India and MoUs with the country due to geopolitical considerations. "They also prefer that BNP does not launch the movement on a full scale until September, considering the rainy season and flooding in some areas."
He also said most policymakers, however, argued that their movement is directed against the ruling party, not against India.
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Earlier, the party observed a three-day programme--on January 29 in Dhaka, July 1 in all other metropolitan cities, and July 3 in all district headquarters, demanding the unconditional release of its Chairperson Khaleda Zia.
While the party was able to conduct the programme peacefully in metropolitan cities, it faced obstructions and attacks in some districts.
In such a situation, BNP policymakers on Monday will discuss extensively whether their programmes will be confined to metropolitan cities or extended to all unions.
Party insiders said the BNP high command has already taken opinions from party leaders at various levels regarding the new movement, and most of them recommended announcing nationwide programmes to revitalise the grassroots leaders and workers.
When contacted, BNP standing committee member Gayeshwar Chandra Roy said their party will continue their movement for Khaleda Zia's release until their demand is fulfilled. "We’ll also remain active on the streets with various public issues. The ultimate decision on our future course of action will be made in our next meeting."
In a press conference on Saturday, BNP Secretary General Mirza Fakhrul Islam Alamgir also announced that the party's standing committee members will decide on the party's future action programmes at their next meeting.
BNP Joint Secretary General Syed Emran Saleh Prince said most leaders of their party are in favour of taking to the streets to protest against ‘unequal’ MoUs with India and widespread corruption, alongside the movement for their chairperson's release.
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"We hope our policymakers will make the right decision, taking into account the sentiments of the party rank and file," he said.
Another BNP Joint Secretary General Shahiduddin Chowdhury Anee said their party will continue their street programmes on various issues in addition to pressing their demand for Khaleda’s release.
He also said their party standing committee will work out the programmes considering the potential inclement weather and flooding in some areas of the country.
Bangladesh’s blue economy may double in next 10-15 years: ADB Vice President
Asian Development Bank (ADB) Vice President Yingming Yang has said Bangladesh is strategically located along major maritime routes, making it a potential hub for trade and transportation.
“We could see Bangladesh’s blue economy double in size in the next 10-15 years. With its extensive coastline along the Bay of Bengal, Bangladesh’s blue economy is critical for its overall growth,” he told UNB in an interview, adding that Bangladesh is one of the world's largest producers of fish and shrimp.
The ADB vice president who is responsible for the management of the operations of ADB’s Central and West Asia Department and South Asia Department said, the development of ports, shipping infrastructure, and logistics is important for boosting economic activities related to maritime trade.
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Harnessing renewable energy from offshore wind, waves and tides are also opportunities for the country, he said.
“Further, coastal areas offer significant potential for tourism development. Infrastructure development in coastal regions, along with sustainable tourism practices, is essential for maximizing the benefits of tourism,” said Yang who has over 30 years of experience in economic development, working on issues ranging from operations to policy making.
ADB can support Bangladesh in developing these aspects of its economy through its various funding modalities, as well as enabling appropriate policy action, he mentioned.
ADB is also developing new financing solutions such as the Natural Capital Fund and the Nature Solutions Finance Hub, that seek to provide as well as crowd-in capital to fund natural capital projects that include those in the blue economy, Yang said.
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“We have also developed a $1.5 billion pipeline over the next 3 years, from 2025 to 2027, which will include aspects of the Blue Economy including coastal resilience, wetlands management and river system management,” he said.
Bangladesh is vulnerable to the impacts of climate change, including rising sea levels and extreme weather events.
“ADB’s support would also endeavor to build a sustainable blue economy that develops resilience and adaptation to climate change,” Yang said.
Responding to a question, he said ADB has an array of solutions to support Bangladesh. The Natural Capital Lab conducts natural capital assessments and accounting along with Stanford University, its Knowledge Partner, and can map the contributions of coastal ecosystems to economic growth.
These science-based methods can identify appropriate areas for investment in these ecosystems, ensuring that NbS are implemented at scale, Yang said.
Valuing nature also helps in supporting innovative financing mechanisms such as Payment for Ecosystem Services that hold immense potential.
The ADB vice president said they are consulting closely with its hh :partners, such as the Embassy of the Netherlands, International Fund for Agriculture Development and the World Bank to consider suitable partnering opportunities and building synergies.
The private sector will play a key role in leveraging opportunities catalyzed by sovereign financing support.
Explaining why the blue economy is important for Bangladesh, he said the blue economy benefits the country on multiple fronts - economic growth and employment, fisheries and aquaculture; shipping and port development; social importance; environmental and social benefits; and strategic national importance.
“It is crucial for Bangladesh, contributing significantly to GDP through sectors like fisheries, aquaculture, and shipping, while offering substantial employment opportunities across coastal regions,” Yang said.
Fisheries and aquaculture play a vital role in Bangladesh's Blue Economy, contributing to food security, employment, and export earnings.
“The sector employs over 1.3 million people and accounts for approximately 3.5% of the country's GDP. Bangladesh is one of the world's leading fish producing countries, with a total production of 4.38 million metric tons in 2019-20,” Yang said.
Bangladesh's maritime transport sector is crucial for facilitating international trade, with three major seaports - Chittagong, Mongla, and Payra - handling over 90% of the country's trade volume, he observed.
The sector plays a significant role in connecting Bangladesh to global markets and driving economic growth.
However, he said, there is a need for modernisation and efficiency improvements in port infrastructure and operations to enhance competitiveness and sustainability.
Bangladesh’s economy heavily relies on7 the readymade garment industry, employing approximately 4 million people, 60% of which are women, fueling the local economy, but such a single-source dependency poses risks, as seen in the recent COVID-19 pandemic hence the need for diversification of livelihoods, something the blue economy can provide through tourism, fishing and aquaculture.
In addition, coastal communities in Bangladesh have deep-rooted connections to the sea, through the fishing industry with maritime traditions shaping their livelihoods and cultural identity, Yang said.
Sustainable management of marine resources ensures the protection of biodiversity and helps combat the effects of climate change, while also supporting the livelihoods and welfare of around 35 million coastal inhabitants, he said.
Yang said Bangladesh’s government integrates the blue egf&conomy into national strategies, focusing on sustainable resource use, infrastructure development, and international collaboration to enhance economic security and environmental conservation.
Unlocking China’s market: Strategies for Bangladesh to enhance exports
Bangladesh faces significant hurdles in benefitting from duty-free market access to China, the world’s second-largest economy, due to various systemic and strategic issues. Business leaders emphasize the necessity of signing a Free Trade Agreement (FTA) with China to boost Bangladeshi exports.
A recent study by the Research and Policy Integration for Development (RAPID) revealed that Bangladesh could potentially earn an additional $27 billion by exporting quality and diversified goods to China, provided its market share increases to 1 percent. However, the report also identifies several critical barriers preventing this growth.
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One primary obstacle is Bangladesh’s heavy reliance on the ready-made garment (RMG) sector. Although China imports $10 billion worth of garment items, Bangladesh’s inability to meet high-quality standards limit its export success.
“China is the top garment exporter to the USA, EU, and UK, while Bangladesh’s exports rely 84 percent on garments,” noted Dr. MA Razzaque, Chairman of RAPID.
Dr. Razzaque highlighted that China prefers high-quality garments from Italy and other European countries, importing around $10 billion of such products. To penetrate the Chinese market, Bangladesh must diversify its exports and improve product quality. He emphasized the need for aggressive policies, including attracting China-oriented investments and signing trade agreements.
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Other significant barriers are:
- Lack of integration with Chinese retailers.
- Insufficient participation in marketing, sales, and after-sale services.
- Cultural and language barriers.
- Stringent Chinese labeling and packaging regulations.
Dr. Razzaque also pointed out the price competitiveness issue, noting that Chinese products often have lower prices than similar quality Bangladeshi products. The burgeoning e-commerce sector in China represents another challenge, as Bangladeshi entrepreneurs need better skills to tap into this market effectively.
Dr. Razzaque suggests that encouraging Chinese investors to set up manufacturing hubs in Bangladesh could be a strategic move. These factories could produce goods for export back to China and other countries, thus boosting Bangladesh’s export volumes.
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Al-Mamun Mridha, General Secretary of the Bangladesh China Chamber of Commerce and Industry (BCCCI), echoed these sentiments. He mentioned that some Chinese investors are considering shifting their manufacturing industries to Bangladesh, recognizing it as a significant market for Chinese products.
To attract more Chinese investment, Bangladesh is organizing a trade and investment summit in Beijing during Prime Minister Sheikh Hasina’s state visit from July 8 to 10. Mridha hopes that establishing Chinese factories in Bangladesh will eventually increase the volume of Bangladeshi exports to China.
Currently, Bangladesh imports around $24 billion annually from China, while its exports to China remain below $1 billion. To address this trade imbalance, Bangladesh plans to offer lucrative incentives to Chinese investors in sectors such as ceramics, leather, pharmaceuticals, electric cars, high-end garments, and household appliances.
Enhancing Bangladesh’s access to the Chinese market requires strategic diversification, quality improvements, and strong bilateral trade agreements. The upcoming summit and potential Chinese investments could pave the way for increased exports, ultimately benefiting Bangladesh’s economy.