United News of Bangladesh

Bangladesh and Pakistan agreed to strengthen bilateral and regional cooperation across key sectors including trade, agriculture, information technology, food, energy and connectivity, following the 9th Joint Economic Commission (JEC) meeting held in Dhaka on Monday, the first in two decades. Finance Adviser Dr Salehuddin Ahmed led the Bangladesh delegation, while the Pakistani side was headed by Petroleum Minister Ali Pervaiz Malik. The last JEC meeting between the two countries took place in 2005. Describing the Dhaka meeting as ‘remarkable and successful’, Dr Salehuddin said the discussions focused on areas that would benefit the people of both nations. “Our cooperation should not be limited to bilateral issues only; we should also move toward regional cooperation. If countries in South Asia can collaborate in this way, it will be better for everyone,” he said. Pakistan keen to deepen cooperation with Bangladesh: Visiting CJCSC The Adviser said the meeting addressed a wide range of issues, including trade, commerce, agriculture, IT and food security. He said focal points would be designated in relevant ministries, including Civil Aviation and Maritime Affairs, to follow up on aviation, shipping, and logistics cooperation. Responding to a question about the potential target of reaching a three-billion-dollar trade volume, Dr Salehuddin said it was too early to specify any figure. “These are mainly MoUs that have been signed, and the respective ministries will now take them forward,” he said. Pakistani Petroleum Minister Ali Pervaiz Malik expressed appreciation for Bangladesh’s hospitality and said holding the JEC meeting after 20 years was ‘significant’. “We want to build on this positive momentum for the mutual benefit of both countries,” he said, adding that Pakistan would explore new cooperation areas in agriculture, pharmaceuticals, power and energy. He said the current trade volume between the two countries is below one billion dollars, which should increase given their complementary economies. “We have identified various areas of cooperation, and by the next meeting, we hope to show measurable progress,” Malik said. Both sides expressed optimism that the revived JEC platform would help unlock new opportunities and deepen bilateral and regional economic ties in the coming years.    

Import-export between Bangladesh and India through Benapole and Sonamasjid land ports will remain suspended for five and eight days respectively on the occasion of Hindu community’s largest religious festival Durga Puja. Shamim Hossain, director of Benapole Port, said the suspension will continue till October 2 beginning on September 28. The export and import activities will resume from October 4, he said, adding that internal operations at the Benapole Customs House and port will continue, allowing goods to be cleared and Indian trucks to return. Trade through Burimari land port to remain shut for 8 days during Durga Puja Ruhul Amin, general secretary of Sonamasjid Land Port C&F Agents Association, said that due to Durga Puja, another government holiday and weekly holiday, the import-export between the countries will be closed till October 3. Immigrants with valid documents will, however, be able to cross the border during the vacation.  

The illegal trade of Liquefied Petroleum Gas (LPG) cylinders continues unabated in Lalmonirhat’s villages and markets, reflecting a nationwide problem in Bangladesh, amid lax government monitoring and inadequate regulation. From roadside tea stalls to grocery stores, hardware shops and even cement depots, the highly flammable cylinders are reportedly available everywhere, often stored recklessly beside open flames! Many sellers distribute cylinders without fire safety measures or approval from the Department of Explosives, placing both buyers and residents at constant risk. Cross-filling, the transfer of LPG from one cylinder to another, is also carried out by unauthorised individuals and unregulated businesses across the country. As LPG is highly flammable, improper handling and the use of substandard equipment can lead to leaks, fires, explosions and even fatalities. Bangladesh’s leather sector stuck at $1bn; $5bn could be tapped: Experts Locals claim that this illegal trade is widespread in almost every market in the district and is operating openly in the sight of authorities. Cylinders are frequently transported on trucks and vans, only to be carelessly unloaded by being tossed onto the ground, further heightening the risk of leaks, fire, or explosions. Nur Alam, a resident of Khorda Bamandanga in Sadar Upazila, said, “Gas cylinders are kept in roadside tea stalls where fires are always burning. There’s no safety system in place.” A shopkeeper in Hatibandha Upazila, requesting anonymity, admitted that he sells LPG cylinders without a licence. “We buy supplies from trucks and store them in our shops. But we don’t really know the risks involved,” he said. Fire Service and Civil Defence Station Officer Rokonuzzaman confirmed that the illegal trade persists in the district’s markets, in clear violation of safety regulations. “This business must operate under rules and structure. We are working with the district administration to conduct mobile court drives regularly,” he said. Deputy Commissioner of the district HM Rokib Haydar said restrictions have been imposed to prevent the sale of LPG cylinders without a Department of Explosives licence. “Mobile courts are already conducting drives and these operations will continue,” he said. Even though thousands of LPG cylinders exceed their safe lifespan, they continue to be refilled and delivered to households across the country, contributing to a growing number of gas-related explosions and casualties. Experts warn that LPG cylinders are extremely flammable and, if mishandled, could cause devastating accidents.

Finance Adviser Dr Salehuddin Ahmed on Sunday said trade is the most important vehicle for economic development, not aid or grants. “We have very excellent relationships with Saudi Arabia, Japan, South Korea and other countries that are coming in a big way for our economic development,” he said while speaking at a report launching ceremony at the Ministry of Foreign Affairs as the chief guest. Referring to Samsung investment issue, the Finance Adviser said Samsung came in the past to invest but were not welcomed and they went to Vietnam. He said Bangladesh is paying the price now as a lot of wrong policies were taken in the past. Govt trying to make things easy for investors: Foreign Adviser He said many countries are proposing free trade agreements (FTAs) with Bangladesh and the country needs to remain prepared. The Finance Adviser said the government will do everything, and the private sector will just take the opportunity. “Private sector has to be very competitive, efficient, and also perform their job.” “One thing very clearly I have said - subsidies, cheap money and low interest rate – those days are gone ... .these are not the signs of a competitive economy,” he said. The Ministry of Foreign Affairs unveiled the comprehensive report titled “Enhancing Saudi-Bangladesh Economic Engagement, Trends, Key Challenges & Long-term Growth Prospects,” prepared under its initiative with research support from Policy Exchange, a private policy think tank based in Dhaka. The report documented by Policy Exchange under the leadership of Dr M Masrur Reaz, offered in-depth insights and analyses into the potential economic engagements between Bangladesh and the Kingdom of Saudi Arabia. Foreign Secretary Md Jashim Uddin presided over the session. KSA revises fees for visa, Iqama renewals Speaking as special guest, Foreign Affairs Adviser Md Touhid Hossain reaffirmed the interim government’s dedication to streamlining processes to facilitate investment in Bangladesh, signaling a renewed commitment to removing barriers for foreign investors. The Finance Adviser echoed this sentiment by sharing ongoing reform initiatives in Bangladesh aimed at creating an investor-friendly environment. Foreign Secretary Jashim Uddin reflected on the shared historical linkages and values between Bangladesh and Saudi Arabia while calling for enhanced engagements among the businessmen and relevant stakeholders in areas of mutual economic cooperation. Saudi Ambassador to Saudi Arabia to Bangladesh Essa Yousef Essa Alduhailan highlighted Saudi Arabia’s unwavering support for Bangladesh while acknowledging challenges previously faced by Saudi investors. He reiterated Saudi Arabia’s commitment to fostering a stronger economic partnership. The ceremony witnessed participation from key officials representing BIDA, ERD, the Ministry of Commerce, and the Ministry of Finance, along with prominent business leaders, members of the media, and officials from the Ministry of Foreign Affairs. Saudi’s Aramco willing to build refinery in Bangladesh Dr Md Nazrul Islam, Secretary (East) of the Ministry of Foreign Affairs, provided the audience with the background and context of the report, emphasising its significance in strengthening Saudi-Bangladesh relations. This was followed by a presentation of the salient features of the report by Chairman and CEO of Policy Exchange Dr M Masrur Reaz.

China's factory activity expanded at a slower pace in December, official data showed on Tuesday, despite recent stimulus measures and in the face of increasing trade risks. The Purchasing Managers’ Index, based on a survey of factory managers, slipped to 50.1 in December from 50.3 the previous month, the National Bureau of Statistics said Tuesday. It was the third straight monthly reading above 50, a level that indicates an expansion of manufacturing activity. The slowdown in factory activity was due to a “decline in the output component,” according to a note by Capital Economics' Gabriel Ng. Adani Enterprises to sell entire Adani Wilmar “That said, the output price component fell, suggesting downward pressure on prices remains,” he said. Overall, new orders rose to an eight-month high, while the exports order index rose to the highest level in four months, likely helped by US importers rushing to beat higher tariffs that incoming US President Donald Trump may impose on Chinese goods, Ng said. Trump has pledged to impose 10% tariffs on Chinese goods, raising trade risks for China, the world's largest exporter of goods. China is already grappling with a lagging economy, weighed down by reduced consumption and a real estate crisis. A parallel purchasing managers’ index for the non-manufacturing sector, which covers construction and services, rose to 52.2 points up from 50 points in November. The World Bank last week raised forecasts for China's economy growth to 4.9% but warned that reduced confidence among households and businesses, an aging population as well as issues like low consumption and high debt will continue to weigh on China's future growth.

The Dhaka Stock Exchange (DSE), the country's main capital market, saw an upward trend in the first hour on Sunday. After the weekend, 3 indexes of Dhaka stock market—DSEX, DSES, and DS30—increased in the morning. DSEX drops 7.98 points as 117 stocks decline in early trade The main index DSEX increased by 30.24 points to 5,214.68  points, the DSES Shariah index up by 2.86 points to 1173 points, and the DS30 special blue chip index was up by 10.71 points to 1937.99 points during the first hour on Sunday. Shares and units of 3.44 crore were exchanged through 35033 transactions. In the first hour. The market witnessed huge selling pressure and shares and mutual funds worth Tk 102.7 crore were traded. Dhaka Stock Market ends Tuesday with a narrowly upward trend A total of 375 companies participated in trading. Among these, prices of 267 companies increased, 42 companies decreased and 66 companies remained unchanged at the DSE.

Export-import between India and Bangladesh through Sheola, Zakiganj and Tamabil land ports in Sylhet remained suspended since Sunday amid tensions between the two neighboring counties over the arrest and bail denial to former ISKCON leader Chinmoy Krishna Das. Goods-laden trucks have been stranded on both sides due to the trade suspension, causing losses to traders. Sources at Zakiganj Customs Station said trade activities through Zakiganj land port remained halted since Sunday following demonstrations in India over the arrest of Chinmoy.On December 1, several hundred supporters of Chinmoy gathered at Sutarkandi Customs Station in India’s Karimganj following the arrest of the Hindu priest, disrupting trade activities at Zakiganj land port. 1030 mts rice imported from India thru Benapole in one weekBesides, trade was disrupted at Sutarkandi and Sheola land ports over the same issue.Atik Hussain, a former director of the Sylhet Chamber of Commerce and Industries, said the ISKCON-related unrest led to the suspension of export-import at Sutarkandi and Karimganj land ports in India."No goods-laden vehicles could enter Bangladesh from India since the protests began," he added. Indefinite transport strike enters day 2 in BenapoleAs of Tuesday, around 200 goods-laden trucks were stranded at Sutarkandi land port in India, while another 50 remained stuck at Sheola land port in Bangladesh. Trucks carrying fruits and raw materials were also stranded at Karimganj land port, raising concerns about potential damage to perishable goods.Besides, trade activities through Tamabil land port in Sylhet, remained halted for several days following dispute in the measurement of stone and limestone products at the Dawki border in India.Over 300 trucks carrying stones and limestone remained stranded at Dawki land port in India, opposite to Tamabil Land Port, he said.UNB Benapole correspondent reports: the trade activities between Bangladesh and India are going on in the full swing.A total of 418 goods-laden trucks entered Bangladesh through Benapole port on Tuesday while 189 goods-laden trucks left for India through the land port.Besides, the passenger movement between the two countries through the land port also remained uninterrupted as some 1,800 passengers went to India on Wednesday.In Feni, some students and local people staged demonstrations at Bilonia land port in Parshuram upazila around 11 am on Wednesday protesting the attack on the Bangladesh Assistant High Commission in Agartala of Tripura and ‘provocative statements’ made against Bangladesh over loudspeakers in the bordering area on Sunday.Additional police and Members of Border Guard Bangladesh (BGB) were deployed in the area on Wednesday to maintain law and order.On November 26, Chattogram Sixth Metropolitan Magistrate Judge Kazi Shariful Islam sent Chinmoy Das to jail rejecting his bail plea in a sedition case.Violence erupted on the court premises amid demonstrations by ISKCON supporters against the bail denial, leaving lawyer Saiful Islam Alif dead. Meanwhile, BGB stepped up vigil along the border to thwart any evil activities and unwanted situations along the bordering area amid growing tension over ex-ISKCON leader issue and attack on Bangladesh diplomatic mission in India’s Agartala.

A year after its inauguration,  Akhaura-Agartala dual-gauge railway remains inoperative, leaving the infrastructures idle and delaying cross-border trade. The railway was inaugurated on November 1, 2023  aiming to enhance trade between Bangladesh and India but the train services have yet to begin. Gazala Parveen Ruhi, Akhaura upazila nirbahi officer, said, “The decision on when the trains will start running lies with the government. Once the contractor officially hands over the project, discussions will begin and a timeline will be set by the authorities.” The railway constructed involving around Tk 250 crore connects  Gangasagar railway station in Akhaura, Brahmanbaria, with Nichintapur in Agartala, India, spanning 12.24 kilometres, with 6.78 kilometres within Bangladesh. The Bangladesh part was constructed by Indian contractor Texmaco Rail and Engineering Limited at a cost of Tk 241 crore. Though the project was initially expected to take one and a half years, delays of over six years occurred due to the Covid-19 pandemic and other challenges. While the infrastructures are in place and trial runs have been conducted, the official inauguration in November 2023 was marred by incomplete facilities, including immigration and customs buildings, platforms, and access roads.  Despite a notification from the National Board of Revenue on October 31, 2023, allowing imports and exports through the railway, trade has not yet started. Texmaco's project manager Vishal Bakshi  said construction was completed in early November, 2023 and that preparations were underway for the handover. However, with no clear timeline for the launch of train services, uncertainty surrounds the future of the project, he added.  

Trade between Bangladesh and India through the Benapole land port resumed on Monday morning after a five-day closure marking Durga Puja, the largest religious festival of Hindus. Shamsur Rahman, president of the Benapole Clearing & Forwarding agent, said the land port again became vibrant with activities. Read more: 479 MT hilsa exported to India through Benapole Hundreds of Indian trucks carrying goods started entering the land port in the morning as those were stranded at the Indian end for the last five days, he said. Imtiaz Bhuiyan, Officer-in-Charge of Benapole Checkpost Immigration police, said the movement of passengers between the two countries with valid documents remained uninterrupted.

Bangladesh and Saudi Arabia will hold the second political consultations in Riyadh on July 1 which is likely to highlight issues related to trade, investment, Bangladeshi migrants, Rohingya crisis and other issues of mutual interests, officials said on Sunday (June 30, 2024). Foreign Minister Hasan Mahmud and Saudi Foreign Minister Prince Faisal bin Farhan Al Saud will lead the Bangladesh and Saudi delegations respectively at the high-level meeting that will be held at the Saudi Ministry of Foreign Affairs. Issues related to education, health, environment and climate change, ICT and tourism are also likely to be discussed in the meeting. FM Hasan is scheduled to reach Riyadh early Monday on a two-day official visit, a senior official at the Ministry of Foreign Affairs told UNB. The foreign minister is scheduled to return home on July 3. Private Industry and Investment Adviser to the Prime Minister Sheikh Salman F Rahman will be part of the delegation as investment issues may come up in a big way. Additional Foreign Secretary (bilateral East and West)  Md Nazrul Islam, Bangladesh Ambassador to Saudi Arabia Mohammad Javed Patwary, Director General of West Asia Wing Shafiqur Rahman and Director Nafisa Monsur will accompany the foreign minister as part of Bangladesh delegation members. Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud, who is also the Prime Minister of the Kingdom of Saudi Arabia, is likely to pay an official visit to Bangladesh later this year. This would be a landmark event in the history of bilateral relations between Bangladesh and Saudi Arabia leading to the consolidation of ties, especially in trade and commerce, investment and economic cooperation, according to official on both sides. The Saudi crown prince has accepted the invitation extended by Prime Minister Sheikh Hasina to visit the country this year, and both sides may discuss the issue further for finalization of details, a Bangladesh official told UNB speaking on condition of anonymity. PM’s upcoming China visit a reflection of maintaining balanced diplomacy: Foreign Minister It would be the first ever visit of any Saudi crown prince to Bangladesh after 1985 when the then Saudi Crown Prince Abdullah bin Abdulaziz visited Dhaka. A good number of bilateral instruments -- MoUs and agreements – are likely to be signed during the visit of the Saudi leader, which would strengthen the bilateral ties between the two countries significantly, both sides hope. The first ever political consultations between Bangladesh and Saudi Arabia were held on March 16, 2022 in Dhaka. At the meeting, both the leaders reaffirmed the bond of enduring ties and friendship existing between the two brotherly countries and expressed satisfaction over the state of bilateral cooperation. They noted the understanding and goodwill existing at the political level between the two countries and emphasised the need for devising means and ways to translate this into concrete outcomes. Both sides further stressed the need to coordinate and work together at functional levels to carry forward the policy decision for mutual benefit of the peoples of the two countries.  Several Saudi companies have already invested in some sectors in Bangladesh and some other companies are considering greater engagement in various areas. Bangladeshi immigration emerges as UK election issue after Labour leader’s comments spark outrage The envoy said about 2.8 million Bangladeshis working in Saudi Arabia are also making significant contributions to Saudi and Bangladesh economies. In May this year, the Kingdom of Saudi Arabia (KSA) wanted to know the progress of efforts in renewing the passports of the Rohingyas who went to the KSA back in 1973-74 with Bangladeshi passports. Saudi Deputy Interior Minister Dr Nasser bin Abdulaziz Al-Daoud discussed the issue with Home Minister Asaduzzaman Khan during a bilateral meeting at that time. Read more: Saudi Crown Prince exchanges greetings with Hasan Mahmud