United News of Bangladesh

Bangladesh secured a 20% US tariff rate—comparable to its key apparel-sector competitors such as Sri Lanka, Vietnam, Pakistan and Indonesia, which received rates between 19% and 20%.  As a result, Bangladesh's relative competitiveness in apparel exports remains unaffected, according to Chief Adviser's press wing. By contrast, it said, India received a 25% tariff after failing to reach a comprehensive agreement with the US. “We negotiated carefully to ensure that our commitments aligned with our national interests and capacity,” said Dr Khalilur Rahman, Bangladesh’s National Security Advisor and lead negotiator.  “Protecting our apparel industry was a top priority, but we also focused our purchase commitments on U.S. agricultural products. This supports our food security goals and fosters goodwill with U.S. farming states,” he said.  “Today, we successfully avoided a potential 35% reciprocal tariff. That’s good news for our apparel sector and the millions who depend on it. We’ve also preserved our global competitiveness and opened up new opportunities to access the world's largest consumer market,” Dr Rahman added. Now US could collect over $1 billion in tariffs from Bangladeshi goods: CPD study President Donald Trump today announced new tariff rates—up to 41%—on imports from 70 countries, just ahead of the August 1 deadline for finalising bilateral trade agreements. These agreements extend beyond tariff adjustments to include domestic policy reforms that the Trump administration views as contributing to trade imbalances.  They also address broader economic and national security concerns.  As part of the negotiations, countries were required to make explicit commitments to purchase US goods to help narrow trade deficits. Given the scope of issues involved, the negotiation process has been complex and time-consuming.  Tariff relief was tied not only to reductions in duties on US exports but also to a country’s willingness to address U.S. concerns on non-tariff barriers, trade imbalances, and security matters, said the Chief Adviser’s press wing on Friday. BNP urges US to keep tariffs on Bangladesh at reasonable level President Trump's executive order made clear that each country’s tariff rate would reflect the depth of its commitment across all these areas.

Despite holding its position as the world’s second-largest apparel exporter, Bangladesh faces growing competition from Vietnam, which is emerging as a formidable rival in the global market. According to the World Trade Organization (WTO) data for 2024, Bangladesh secured $38.48 billion with a growth rate of 0.21%, while Vietnam emerged as a strong contender with a notable growth rate of 9.34%, amounting to $33.94 billion in exports. The global apparel market has reached a total size of $557.50 billion, showing a 7.08% growth from the previous year's $520.62 billion, according to the WTO data for 2024. China, leading the market, achieved $165.24 billion in exports, marking a modest growth of 0.30%. Following closely, Bangladesh secured $38.48 billion with a growth rate of 0.21%. Vietnam emerged as a strong contender with a notable growth rate of 9.34%, amounting to $33.94 billion in exports. Turkey contributed $17.91 billion to the market, while India, Cambodia, Pakistan, Indonesia, and the USA recorded export figures of $16.36 billion, $9.89 billion, $9.28 billion, $8.73 billion, and $7.00 billion, respectively. Growth percentages varied across these countries, with figures ranging from 24.19% to -4.42%. Bangladesh's apparel export to US rose to $7.34 billion in a decade: US Report Market share analysis reveals China holding the largest share at 29.64%, followed by Bangladesh at 6.90%. Vietnam, Turkey, India, Cambodia, Pakistan, Indonesia, and the USA captured market shares of 6.09%, 3.21%, 2.94%, 1.77%, 1.66%, 1.57%, and 1.26%, respectively. Despite the challenges posed by the COVID-19 pandemic, the global apparel market has shown signs of recovery and growth. But, new challenges and issues continue to emerge, shaping the dynamics of the industry. Mohiuddin Rubel, former director, Brand BGMEA and Managing Director, Bangladesh Apparel Exchange told UNB that Bangladesh’s competitors increased in the global market. Apparel makers highlight importance diplomacy, branding eyeing 100 bln dollar industry The US tariff imposed for Bangladesh would be increased if the tariff barrier continues, he said.

US President Donald Trump on Monday slapped a 35% tariff on Bangladeshi goods, 2% lower than his initial rate announced three months ago, but significantly higher than close rival Vietnam (in the field of RMG), which recently secured a trade deal with the US under which its goods will be charged a tariff of 20%.  Trump made the much-anticipated announcement on his Truth Social account, by publishing his letter dated July 7 to Chief Adviser Muhammad Yunus at 2.36am (Tuesday) Bangladesh time. He posted identical letters to other world leaders revealing the tariff rates for their respective countries, which said the new rates would be effective from August 1. Apart from Bangladesh, it was learned on Monday that imports from Myanmar and Laos would be taxed at 40%, Cambodia and Thailand at 36%, Serbia at 35%, Indonesia at 32%, South Africa and Bosnia and Herzegovina at 30% and Japan, South Korea, Kazakhstan, Malaysia and Tunisia at 25%. More letters may be forthcoming.  The letters warned Trump’s counterparts to not retaliate by increasing their own import taxes, or else the Trump administration would further increase tariffs. “If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 35% that we charge,” Trump wrote in the letter to Yunus. Trump to put 25% tariffs on Japan and South Korea, new import taxes on five other nations A Bangladeshi delegation remains in Washington for last-ditch talks with the US Trade Representative's office, but Trump’s word could be final for now. He did however add: “If you wish to open your heretofore closed Trading Markets to the United States, and eliminate your Tariff and Non Tariff, Policies and Trade Barriers, we will, perhaps, consider an adjustment to this letter.”  Meanwhile, the AP reports that following a now well-worn pattern, Trump plans to continue sharing the letters sent to his counterparts on social media and then mail them the documents, a stark departure from the more formal practices of all his predecessors when negotiating trade agreements. The letters are not agreed-to settlements but Trump’s own choice on rates, a sign that the closed-door talks with foreign delegations failed to produce satisfactory results for either side, according to AP. BRICS summit overshadowed by Middle East tensions, condemns tariffs

Vietnam has approved a $1.5 billion proposal by the Trump Organization and its Vietnamese partner to build golf courses, hotels and real estate projects in the Southeast Asian country, state-run media reported Friday. The project spanning 990 hectares (2,446 acres) in northern Vietnam's Khoai Chau district will include a golf course the size 336 American football fields, residential areas, commercial spaces and parks. The decision approving the investment was signed by Deputy Prime Minister Tran Hong Ha, the VN Express newspaper reported. Vietnam is heading into negotiations with the U.S. in a bid to avoid the 46% tariffs on its exports announced by President Donald Trump's administration. Vietnam also has been facing heat from Washington for not doing enough to prevent the diversion of Chinese goods through its borde The investment project was announced by Vietnamese real estate developer Kinhbac City, which partnered with Trump’s family business in October. Work on the project will start this year and continue till 2029. The Trump Organization did not immediately respond to a request for comment Friday.

Russia will facilitate Vietnam's participation in the BRICS bloc of developing economies as a “partner country,” the countries said in a joint statement on Wednesday after Russian Prime Minister Mikhail Mishustin’s two-day visit to Hanoi. “The Russian side welcomed Vietnam’s active participation in BRICS events in 2024 and expressed its readiness to create favorable conditions if Vietnam joins BRICS as a partner country,” the statement said, AP reports. BRICS was formed by Brazil, Russia, India and China in 2009, with South Africa added in 2010, as a counterweight to the Group of Seven leading industrialized nations. Last year, the bloc added Iran, Egypt, Ethiopia and the United Arab Emirates. Saudi Arabia has been invited to join. Turkey, Azerbaijan and Malaysia have formally applied to become members, and a few others have expressed interest. Vietnam's Southeast Asian neighbor Indonesia was admitted as a full BRICS member this month. Russia forms an emergency task force over oil spill But Vietnam remains reticent to join the bloc, said Nguyen Khac Giang, a visiting fellow in the Vietnam Studies Program at Singapore’s ISEAS–Yusof Ishak Institute. “Hanoi is still cautious of what the Trump administration will think about BRICS and the potential consequences of becoming a full member in the worst-case scenario. Meanwhile, the benefits are not that substantial for Hanoi to take such a risk,” he said. Vietnam needs support from the US to advance its economic ambitions and diversify its defense ties. Russia has been trying to bolster ties in Asia to offset its growing international isolation over its war in Ukraine. NKorean troops in Ukraine gain battlefield experience, cementing alliance with Russia During Mishustin’s visit to Hanoi, the countries agreed to expand their cooperation on nuclear power. “Russia is ready to participate in building a national nuclear power industry in Vietnam,” the joint statement said.

Vietnam's Ha Long Bay, a mesmerizing natural wonder and UNESCO World Heritage Site, is a paradise for travelers. Known for its emerald-green waters, dramatic limestone islands, and lush landscapes, this iconic destination offers unforgettable experiences for nature enthusiasts and adventure seekers alike. Location, Significance, and History of Name  Ha Long Bay is situated in northeastern Vietnam, stretching across Quang Ninh Province and covering an area of about 1,553 km², including nearly 2,000 limestone islets. Administratively, it spans Ha Long City, Cam Pha City, and Van Don District. Recognized as a UNESCO World Heritage Site, the bay is famed for its breathtaking limestone karst formations and unique biodiversity. "Ha Long" translates to "Descending Dragon," rooted in Vietnamese legend. According to folklore, dragons descended from heaven to aid the Vietnamese in defending their land by spitting jewels that formed the bay's islands.  The bay’s mythical and geological allure has fascinated people for centuries. Historically, it was referred to by names like An Bang and Luc Thuy. Its name emerged in the 19th century, appearing on French maritime maps, and has since become synonymous with natural beauty and cultural significance. Read more: Trip to Bali: A Comprehensive Travel Guide Top Places to Visit in Ha Long Bay . Bai Chay Beach  Bai Chay Beach is a bustling seaside destination offering soft golden sands, calm azure waters, and a vibrant atmosphere. Perfect for relaxation and water activities, this beach is ideal for swimming, jet-skiing, and sunbathing.  Nearby, you will find numerous restaurants and entertainment venues catering to tourists. In the evenings, the beach comes alive with colorful lights and street performances, making it a lively spot for visitors of all ages to enjoy. Read more: Shopping in Hong Kong: What to Buy, Where to Buy from Thien Cung Cave (Heavenly Palace Cave) Thien Cung Cave is an awe-inspiring natural wonder, renowned for its intricate stalactites and stalagmites. Covering 10,000 square meters, the cave features fantastical formations illuminated by colorful lights, creating a magical ambiance. 

China agreed Sunday to assist Vietnam on cross-border railway development and take steps to expand agricultural imports from its smaller neighbor, Vietnam’s official media said. Premier Li Qiang, on an official visit to Vietnam, pledged that China would further open its market to high-quality fruits, seafood and other Vietnamese products, a state media report said. China is Vietnam’s largest trading partner and second-largest export market after the U.S. Trade between the two countries reached $172 billion in 2023. Vietnam’s top leader, To Lam, signaled the importance of the relationship when he made China his first overseas visit after assuming his post last year. Li came to Vietnam from neighboring Laos, where he had pushed back against calls at a meeting of Southeast Asian leaders to respect international law in territorial disputes in the South China Sea. China looking forward to work closely with Bangladesh: Envoy Vietnamese Prime Minister Pham Minh Chinh told Li that both sides should respect each other’s legitimate rights and interests, resolve disputes through peaceful means and properly address issues related to fishers and their vessels, the state media report said. Vietnam condemned China two weeks ago for what it described as an assault by Chinese law enforcement personnel that injured several Vietnamese fishers near the Paracel Islands in the South China Sea. The islands have been under the de facto control of China since 1974, when Beijing seized them from Vietnam in a brief but violent naval conflict. U.S. Secretary of State Antony Blinken told the Southeast Asian leaders gathered in Laos last week that the U.S. is concerned about China’s “increasingly dangerous and unlawful” activities in the South China Sea, which Beijing claims virtually in its entirety. In their talks on Sunday, Chinh and Li agreed to deepen exchange and cooperation in diplomacy, national defense and public security, the state media report said. They also witnessed the exchange of 10 cooperation agreements, including the establishment of a working group to develop cross-border economic cooperation zones and the implementation of QR-code, cross-border payment services. The railway agreements covered a technical plan and feasibility studies to improve train connectivity between Vietnam and China. On trade, Chinh asked for greater access for a range of products including tropical fruits, meat products, farm-raised spiny lobster and plant-based traditional medicines. Li said that China stands ready to resolve trade issues and work with Vietnam on quarantine and customs procedures, according to the Vietnamese report.  

More than a dozen tigers were incinerated after the animals contracted bird flu at a zoo in southern Vietnam, officials said. State media VNExpress cited a caretaker at Vuon Xoai zoo in Bien Hoa city saying the animals were fed with raw chicken bought from nearby farms. The panther and 20 tigers, including several cubs, weighed between 10 and 120 kilograms (20 and 265 pounds) when they died. The bodies were incinerated and buried on the premises. “The tigers died so fast. They looked weak, refused to eat and died after two days of falling sick,” said zoo manager Nguyen Ba Phuc. Samples taken from the tigers tested positive for H5N1, the virus that causes bird flu. The virus was first identified in 1959 and grew into a widespread and highly lethal menace to migratory birds and domesticated poultry. It has since evolved, and in recent years H5N1 was detected in a growing number of animals ranging from dogs and cats to sea lions and polar bears. In cats, scientists have found the virus attacking the brain, damaging and clotting blood vessels and causing seizures and death. Tiger population in Sundarbans set to increase: Results of latest survey to be announced on October 8 More than 20 other tigers were isolated for monitoring. The zoo houses some 3,000 other animals including lions, bears, rhinos, hippos and giraffes. The 30 staff members who were taking care of the tigers tested negative for bird flu and were in normal health condition, VNExpress reported. Another outbreak also occurred at a zoo in nearby Long An province, where 27 tigers and 3 lions died within a week in September, the newspaper said. Unusual flu strains that come from animals are occasionally found in people. Health officials in the United States said Thursday that two dairy workers in California were infected — making 16 total cases detected in the country in 2024. “The deaths of 47 tigers, three lions, and a panther at My Quynh Safari and Vuon Xoai Zoo amid Vietnam’s bird flu outbreak are tragic and highlight the risks of keeping wild animals in captivity,” PETA Senior Vice President Jason Baker said in a statement sent to The Associated Press. “The exploitation of wild animals also puts global human health at risk by increasing the likelihood of another pandemic,” Baker said. Bird flu has caused hundreds of deaths around the world, the vast majority of them involving direct contact between people and infected birds.  

Prime Minister Sheikh Hasina on Sunday said Bangladesh would be the 9th largest consumer market by 2030 with the government working with the goal of overtaking many established markets in the world. “We’ve been working with a goal so Bangladesh could surpass established markets like the UK and Germany, and the current high-growth countries Vietnam and Thailand at that time. We’ve this effort,” she said. The premier said this while inaugurating the 60 years’ celebration and Investment Expo, 2023 of Foreign Investors Chamber of Commerce and Industry (FICCI) at Hotel Radisson Blu in the city. “There are some 17 crore people in our Bangladesh. Besides, we’ve strengthened connectivity with our neighbouring countries. We think Bangladesh would become the world’s 9th largest consumer market by 2030,” she said. Noting that Bangladesh has a large population, she said the government is developing them as skilled manpower for its better utilization. Read: Bangladesh to become world’s 9th largest market by 2030 overtaking UK, Germany: PM Hasina  The PM said the number of growing middle class and rich people will be 3.40 crore by 2025 in Bangladesh and the estimated GDP per capita will be 5,880 US$ by 2040. “Due to its strategic geographical location, Bangladesh can be the hub of the regional market of 3 billion people,” she said adding that her government has taken steps to strengthen the connectivity with this region. Hasina said her government has successfully been able to bring a significant change in Bangladesh after assuming office in 2009. “Bangladesh has become one of the fastest growing economies in the world in the last 15 years,” she said. Noting that Bangladesh is now considered as the 35th largest economy in the world, she said they have raised the GDP growth rate to 7.25 percent now due to strong macroeconomic fundamentals and trade consolidation. The PM, however, said the growth rate was even higher during the pre-Covid period as the government raised it to 8:10pc before the pandemic. Read: Only votes can change govt: PM Hasina The government has successfully increased per capita income to US$2,793 from only US$ 543 and raised the GDP size to Tk 50.31 lakh crore now from Tk 4 lakh crore in 2006, she said. During this period, they brought down the poverty rate to 18.7 percent from 41.1 percent, while extreme poverty rate to 5.6 percent from over 25pc, she said adding that her government has given the most importance to the development of the rural economy. In the last 15 years, the Awami League government took multifaceted measures for the development of the business sector of the country. So, the private sector has become stronger and more developed. Bangladesh is currently the second largest garment exporter in the world, she said. “Bangladesh is expected to be the 20th largest economy in the world by 2037,” said Sheikh Hasina, adding that the country will be transformed into a developed and prosperous Smart Bangladesh by 2041. Mentioning that the government is setting up some 100 economic zones and established 39 hi-tech parks throughout the country, she said those economic zones and parks are kept open for foreign investment. If any country can want land singly, seek land under joint venture or public private partnership (PPP), the government would allow them and provide them with lands, she said. Read: PM Hasina collects nomination form for national election  The premier said one stop service has been introduced in investment development agencies to facilitate investment. “We have undertaken plans to make all offices providing investment services fully online and digitized,” she said. In Bangladesh, there is a scope to develop USD 350-billion infrastructures in the energy, water, logistics and transport sectors. “By 2025, the logistics sector alone is expected to become a US$90 billion market,” she said. The prime minister said they want to raise private investment to 31.43 percent of GDP by 2031.She said Bangladesh has become an attractive destination to many countries around the world for investment, industrialisation and export due to various reasons including its economic growth, structural development programmes, investment-friendly policy, large domestic market, strategic location, high profitability and large workforce. Talking about the FICCI’s celebration, she said the chamber has stepped into 60 years this year since the inception of its journey in 1936. As a leading chamber, FICCI represents investors from 35 countries in more than 21 sectors of Bangladesh. “FICCI represents 90 percent of the country's inward FDI, which carries special importance to the overall development of our country,” she said. The premier extended sincere thanks to all former and current members of FICCI on the occasion of the celebration of its 60 years. Commerce Minister Tipu Munshi and PM’s Private Industry and Investment Adviser Salman F Rahman, among others, spoke at the function, while FICCI President and CEO of Standard Chartered Bank Naser Ezaz Bijoy delivered the welcome speech. The premier also unveiled a research book titled ‘Catalyzing Greater FDI for Vision 2041’, which was published by FICCI.

President Mohammed Shahabuddin on Friday urged Vietnamese companies to invest in Bangladesh, particularly in the special economic zone. The president made this call when the visiting President of the National Assembly of Vietnam Vuong Dinh Hue called on him  at Bangabhaban. Welcoming the president of the National Assembly of Vietnam, Shahabuddin said that there is a very good relationship between Bangladesh and Vietnam, President's press secretary Joynal Abedin told UNB. Referring to the visit of the President of Vietnam to Bangladesh and the visit of the Prime Minister and President of Bangladesh to Vietnam, he said that through this the relationship between the two countries has been strengthened. Outgoing Chief Justice pays farewell call on President The president also urged Vietnam to import world-class products including medicines, ready-made garments, leather and leather goods, ceramics from Bangladesh to increase bilateral trade. Alongside, he sought Vietnam's support and cooperation for Bangladesh as a sectoral dialogue partner of ASEAN. President Shahabuddin hoped that Vietnam will play a major role in the dignified repatriation of the Rohingyas from Bangladesh to their homeland Myanmar. President Shahabuddin calls for early repatriation of Rohingyas to Myanmar  During the meeting, Vuong Dinh said that his country is deeply interested in increasing trade and investment relations with Bangladesh. Appreciating the socio-economic development of Bangladesh, he said that his country will cooperate in the implementation of the government's goal to make Bangladesh a developed and smart Bangladesh by 2041. President Shahabuddin returns home wrapping up 12-day Singapore, Indonesia tour   President's Office Secretary Sampad Barua, Military Secretary Major General SM Salah Uddin Islam, Secretary ( attached) Md. Wahidul Islam Khan and the visiting entourage members of the President of the National Assembly of Vietnam were also present.