United News of Bangladesh

Chief Adviser Prof Muhammad Yunus on Sunday called for an early start to Free Trade Agreement (FTA) negotiations with the European Union, stressing the need for safeguarding Bangladesh’s trade preferences in its largest export market once the current duty-free access expires in the coming years. The Chief Adviser made the remarks during a courtesy call by Nuria Lopez, Chairperson of the European Chamber of Commerce in Bangladesh (EuroCham), at the State Guest House Jamuna in Dhaka. European Union Ambassador to Bangladesh Michael Miller took part in the meeting. During the discussion, they discussed the need to accelerate European investment in Bangladesh, how to ensure smooth trade relations between Bangladesh and the EU, and the need for further reforms to improve the country’s business climate, said the Chief Adviser’s press wing. They also discussed the upcoming elections and the deployment of international observers to monitor the polls. Prof Yunus said the interim government has recently concluded an Economic Partnership Agreement (EPA) with Japan, paving the way for duty-free access for more than 7,300 Bangladeshi products to the world’s fourth-largest economy. He said that Bangladesh is preparing to hold similar negotiations with other countries, including the European Union, to ensure continued duty-free access for its products, particularly ready-made garments, to the EU market for the foreseeable future. “The EPA with Japan has opened doors for us. It gives renewed hope to our export items. We definitely hope to sign an FTA with the EU to expand our market,” the Chief Adviser said. EuroCham Chairperson Nuria Lopez said Bangladesh needs to begin FTA negotiations urgently, as the country may lose its existing trade preferences in the EU, its largest export destination, after graduating from Least Developed Country (LDC) status. She said that an FTA would attract more European investment to Bangladesh, create jobs and boost exports to advanced Western markets. Lopez pointed out that India is signing an FTA with the EU, while Vietnam already has such an agreement, allowing both middle-income countries preferential access to the European market. “We are advocating for an FTA. I will go to Europe to encourage private companies to invest in Bangladesh,” she said. EU Ambassador Michael Miller said that the commercial relationship with Bangladesh will evolve after graduation but not before 2029. He underlined the EU’s strong interest to bring European investment and technology to the country, an important market with a population of nearly 200 million, and spoke about the EU readiness to organise an EU/Bangladesh Business Forum in 2026. “We are looking for early political signals that EU companies will be encouraged to come and will enjoy a level playing field,” he said. The Chief Adviser also emphasised the relocation of factories to Bangladesh, noting that European firms can take advantage of the country’s large pool of skilled labour at competitive costs. “We are building a free trade zone. Our aim is to turn Bangladesh into a manufacturing hub for global businesses. We want more European investment in Bangladesh,” he said. Prof Yunus expressed satisfaction over the EU’s decision to deploy a large contingent of election observers to Bangladesh for the upcoming general elections and referendum. “It is important that EU election observers are here. It is a huge vote of confidence in revitalising our democracy,” he said, adding that the overall picture of the election campaign was ‘very positive’. Lamiya Morshed, SDGs Affairs Principal Coordinator and Senior Secretary of the government, was also present at the meeting.

‘Bangladesh and Singapore: A Tale of Two Nations’, authored by Cosmos Foundation Chairman Enayetullah Khan, was unveiled in Dhaka on Wednesday, exploring historical parallels, cultural exchanges and the deepening economic ties between the two countries, with a proposed Free Trade Agreement (FTA) charting a new course for bilateral relations. Fresh from its Singapore launch, the book was formally introduced at a programme titled ‘Book Launch: Bangladesh and Singapore: A Tale of Two Nations’ held in the city's Baridhara in the evening, where speakers discussed its key themes and future-oriented insights. In his opening remarks, author Enayetullah Khan, also Editor-in-Chief of UNB, said that following the book’s launch in Singapore on November 27, he felt Dhaka’s winter provided the right moment to present it to Bangladeshi readers. The book, he noted, captures nearly six decades of dynamic relations between Bangladesh and Singapore from multiple perspectives. “Bangladesh and Singapore do not merely stand on the conventional foundations of bilateral ties,” Khan said, adding, “Their relationship rests on a powerful narrative — trust, trade, investment and respect. These four principles form the strong pillars of Bangladesh–Singapore relations,” he said, adding that the book examines the economic outlook of both countries alongside their historical connections. Singapore’s independence from Malaysia came six years before Bangladesh achieved independence from Pakistan in 1971, and both nations were led by towering figures — Bangabandhu Sheikh Mujibur Rahman in Bangladesh and Lee Kuan Yew in Singapore. Despite differing trajectories and transformations after independence, bilateral relations between the two countries have remained resilient. Building on this foundation, the book outlines prospects for a new economic pathway. “Bangladesh is a South Asian country, while Singapore is in Southeast Asia. In today’s global power politics, the Bay of Bengal offers immense opportunities for Bangladesh. If shipping and trade potentials of the Bay are fully utilised, Bangladesh can witness a new wave of economic growth. In this context, a Bangladesh–Singapore FTA could open new doors and usher in a new horizon for both economies,” Khan added. Echoing similar optimism, Singapore’s Acting High Commissioner to Bangladesh, Mitchel Lee, who attended the event as a guest of honour, said the two countries share not only common waters of the Indian Ocean, but also intertwined historical journeys.

Bangladesh and China have discussed promoting Free Trade Agreement (FTA) negotiation, providing more financial support for bilateral trade, and attracting more Chinese enterprises to invest in Bangladesh. Peter Haas says he looks forward to working closely with Bangladesh Both sides think it will help Bangladesh realize its export diversification strategy and benefit the Bangladeshi people. Chinese Ambassador to Bangladesh Yao Wen met State Minister for Commerce Ahsanul Islam (Titu) on Wednesday and discussed the issues. EU to start negotiations on Partnership Cooperation Agreement very soon, says Charles Whiteley The two sides spoke highly of the major achievements in trade and investment between Bangladesh and China. They agreed to expand the scale of bilateral trade, especially the export of Bangladeshi high-quality specialty products to China. Lavrov to Hasan Mahmud: Russia-Bangladesh ties based on solid foundation of friendship

Malaysian High Commissioner to Bangladesh Haznah Md Hashim has said she is optimistic that Dhaka and Kuala Lumpur would soon sign a Free Trade Agreement (FTA) to boost bilateral trade. While delivering her keynote speech at Cosmos Foundation’s virtual dialogue titled “Bangladesh-Malaysia Relations: Prognosis for the Future”, she also said trade and investment may determine the future course of relations between the two nations. Apart from FTA, the high commissioner said the potential areas of future collaboration are “definitely in the areas of digital economy”. “What is even more important for both countries [is] to enhance the bilateral relations on areas such as trade and investment, which may determine the direction of the relations in the next decade or so. In this regard, again, it is my hope that a FTA will be concluded between Malaysia and Bangladesh,” she said. Cosmos Foundation, the philanthropic arm of Cosmos Group, hosted the dialogue that premiered on Thursday evening. The opening remarks were delivered by Cosmos Foundation Executive Director Nahar Khan.

Bangladesh has shown interest in signing a free trade agreement (FTA) with Mercosur, an economic and political bloc of the big economies of South America consisting of Argentina, Brazil, Paraguay and Uruguay. Highlighting Bangladesh’s strength as the second largest RMG producer and world-class pharmaceutical manufacturer, Bangladesh Ambassador to Brazil Sadia Faizunnesa has sought Brazil President Jair Messias Bolsonaro’s support to negotiate the FTA with Mercosur. The Brazilian President instructed Brazilian Foreign Minister Carlos Franca to start working towards strengthening bilateral cooperation, including trade and agriculture, according to the Bangladesh Embassy in Brazil. Also read: Australia eyes new opportunities in Bangladesh's digital sector

Applauding the initiative for a free trade agreement (FTA) between Bangladesh and Singapore, Foreign Minister Dr AK Abdul Momen on Thursday said FTA would be mutually beneficial by further enhancing the bilateral trade and investment. "Singapore is an important bilateral trade and investment partner of Bangladesh," he said during a telephone conversation with his Singapore counterpart Dr Vivian Balakrishnan. The two Foreign Ministers agreed to accelerate the process for concluding the FTA early. Dr Momen encouraged more Singaporean investors to invest in power, telecommunication, renewable energy and power transmission sectors in Bangladesh taking advantage of a very friendly investment regime in the country. Also read:Rohingya Crisis: Dhaka voices concerns over security implications in entire region While thanking the Government of Singapore for providing humanitarian assistance to the forcibly displaced Myanmar nationals sheltered in Bangladesh, Dr. Momen sought Singapore’s and ASEAN’s proactive role in bringing a sustainable and permanent solution to the Rohingya crisis by ensuring their urgent return to their homeland in Myanmar. Dr Vivian assured that Singapore would remain engaged on the issue and of Singapore’s continued support for a durable solution to the crisis. During the conversation, Dr Momen expressed satisfaction over the excellent bilateral relations existing between the two friendly countries, mentioning that Bangladesh considers Singapore as a role model of Economic Development. The two Foreign Ministers agreed on the necessity of exploring synergies in new areas of cooperation for expanded bilateral engagement. Dr Momen noted with satisfaction Singapore government’s continuous support to the Bangladeshi expatriate workers during the ongoing Covid-19 pandemic. He suggested that Singapore may consider employing more skilled workers from Bangladesh especially in their health and other service sectors. Also read: Bangladesh needs 34,000 MW of electricity by 2030 to sustain its growth: ICCB Praising Dr Balakrishnan’s previous role as Minister-in-charge of the Smart Nation Initiative, Dr Momen shared the rapid digital transformation of the economy and society in Bangladesh under the vision of Hon’ble Prime Minister Sheikh Hasina for a ‘Digital Bangladesh’. Dr Momen sought Singaporean cooperation in the area of ICT and digitization, to which Dr. Balakrishnan responded very positively and assured of full support and assistance. Referring to the 50 years of diplomatic ties between the two countries in 2022, both the Ministers agreed to celebrate the special occasion in a befitting manner in both the countries. Dr Momen invited his Singaporean counterpart to visit Bangladesh. Dr Balakrishnan also extended an invitation to Dr Momen for an official visit to Singapore to kick-start the celebration of the 50 years of diplomatic relations between the two countries. The two Foreign Ministers also exchanged greetings of the New Year and discussed the pandemic situation in their respective countries.

Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President Md. Jashim Uddin has laid emphasis on doing more market research and evaluation on export diversification to deal with the Malaysian market. He made the suggestion when Bangladesh-Malaysia Chamber of Commerce & Industry (BMCCI) President Raquib Mohammad Fakhrul along with the Board of Directors met him at his office. The BMCCI President submitted some important points in a memorandum to the FBCCI President for consideration.  Also read: Bangladesh to gain new commercial facilities post-LDC graduation: FBCCI He proposed to undertake an initiative to sign Free Trade Agreement (FTA) with Malaysia by ensuring Bangladesh’s interest which has been a long pending issue.  He also talked about promoting relocation of Malaysian sun-set Industries to Bangladesh, to make close connectivity between Chattogram and Penang Port; to organize events on Trade & Investment opportunity in Bangladesh on a regular basis. The FBCCI President assured of providing all possible support for development of trade and investment opportunities between Bangladesh and Malaysia.  He thanked the BMCCI leaders for their appreciable role in promoting bi-lateral relationships between the two countries.  Also read: Bengal Group’s Jashim Uddin elected FBCCI president He proposed to sitting again  together with FBCCI, BMCCI and other concern stakeholders with all required data to discuss more and precisely on proposed FTA between Bangladesh and Malaysia.  FBCCI Vice President Md. Habib Ullah Dawn, Director Syed Moazzem Hossain and Director Syed Almas Kabir took part enthusiastically. 

Foreign Minister Dr AK Abdul Momen has said there is enormous scope for private sectors of Bangladesh and Japan to engage in trade and investment for mutual benefit.

Britain’s long and sometimes acrimonious divorce from the European Union ended Thursday with an economic split that leaves the EU smaller and the U.K. freer but more isolated in a turbulent world.

As Bangladesh looks forward to graduating out of the least developed country (LDC) status in 2024, it's increasingly emphasising bilateral preferential trade agreement (PTA) and free trade agreement (FTA) to boost its export earnings in the next three to six years.