Bangladesh News Bangladesh Foreign Affairs

[Isa Khan]

The Korea Atomic Energy Research Institute (KAERI) and Bangladesh Atomic Energy Commission (BAEC) have signed a memorandum of understanding (MoU) for the collaboration in the peaceful use of nuclear energy.

The signing ceremony was held at the BAEC building in Dhaka on Wednesday. Dr Park Won Seok, president of KAERI, Dr Md Azizul Haque, chairman of BAEC, Lee Jang-keun, ambassador of the Republic of Korea to Bangladesh, and other officers of BAEC and KAERI were present.

According to the MOU, KAERI and BAEC will strengthen cooperation in various aspects of peaceful utilization of atomic energy, including development, utilization, and upgrade of research reactors, production and application of radioisotopes; development of radiation technology, neutron science and management of nuclear/radioactive waste.

Korea expects that the signing of the MOU will provide important momentum to take the existing collaboration between the two agencies to a new height.

Mentioning that KAERI has established a solid infrastructure as well as operation know-how of research reactors through the development of HANARO of Korea, JRTR of Jordan, OYSTER of the Netherlands during the past 50 years, Dr Park Won Seok expressed his confidence in cultivating and strengthening trustful partnership in the peaceful use of nuclear energy.

Ambassador Lee Jang-keun stressed that the signing of the MOU today has a significant meaning in the relations between Korea and Bangladesh as it opens a new avenue of promising collaboration in the field of nuclear energy and science.

Reminding that the two countries will celebrate the 50th anniversary of diplomatic relations next year, he mentioned that both countries are making efforts to diversify areas of cooperation based on the successes in the fields of RMG, human resources development, health and ICT during the past several decades.

The delegation of KAERI is scheduled to visit the Bangladesh Training Research Reactor (BTRR) on 26 May.

This visit will be a follow-up step to a contract signed in July 2021 between KAERI and BTRR to renovate BTRR, which completion is due next year.

Bangladesh, South Korea ink MoU on cooperation for peaceful nuclear energy use

The Korea Atomic Energy Research Institute (KAERI) and Bangladesh Atomic Energy Commission (BAEC) have signed a memorandum of understanding (MoU) for the collaboration in the peaceful use of nuclear energy. The signing ceremony was held at the BAEC building in Dhaka on Wednesday.

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The visiting Palestinian delegation paid a courtesy call on Chief of Army Staff of Bangladesh Army General SM Shafiuddin Ahmed at the Army Headquarters on Monday.

The delegation was led by the Director General of Palestinian Military Intelligence Major General Zakaria AH Musleh.

After exchanging greetings, the Chief of Army Staff thanked the Palestinian delegation for visiting Bangladesh and discussed various issues related to the existing good relations between the armies of the two countries and future progress in this regard.

These talks opened a new door for the advancement of relations between the Palestinian Army and the Bangladesh Army, said a press release from the Inter Services Public Relation Directorate (ISPR).

Earlier on the same day, Colonel Radoslaw Grabski, military adviser at the Polish embassy, paid a courtesy call on the army chief.

Palestinian delegation pays courtesy call on Bangladesh Army Chief

The Chief of Army Staff and the Palestinian delegation discussed various issues related to the existing good relations between the armies of the two countries and future progress

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Bangladesh and Serbia have signed two Memorandum of Understanding (MoU) on Wednesday on visa exemptions for diplomatic and official passport holders and also on the bilateral consultations between the ministries of foreign affairs.

The MoU was signed by the Bangladesh Foreign Minister Dr AK Abdul Momen and visiting Serbian Foreign Minister Nikola Selaković.

"The agreement on visa waiver will be instrumental in exchanging visits between Bangladesh and Serbia and the MoU on the bilateral consultations between two foreign offices will be helpful in taking stock of the state of bilateral relations and also in finding new route, new avenues of cooperation between our two countries," Foreign Minister Momen said in a press briefing at foreign service academy.

"We also discussed how we could harness the cordial relationship into economic cooperation to increase bilateral trade. Our two foreign offices will work together to identify products and services. We hope to sign an agreement to facilitate bilateral trade," he added.

He mentioned that they also discussed possibilities of sending doctors, engineers, nurses, skilled and semi-skilled workforce, and English teachers from Bangladesh to Serbia to meet the growing need.

Dhaka, Belgrade sign two MoUs

The two foreign ministers also discussed possibilities of sending doctors, engineers, nurses, skilled and semi-skilled workforce, and English teachers from Bangladesh to Serbia

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[Isa Khan]

The container ship Spica J will leave Chattogram for Rotterdam port in the Netherlands this week, introducing a new direct freight route between Bangladesh and the northwestern European country.

This will be the fourth direct shipping service from Chattogram since February this year, with businessmen saying that direct shipments will open up new horizons for external trade amid a global supply chain shock.

Reliance Shipping and Logistics, the local shipping agent of the latest freight route, said three vessels will be carrying goods. After reaching the Netherlands from Chattogram, the vessels will sail for Barcelona, Spain.

"Spica J is now at the outer anchorage of Chattogram port. It will leave Bangladesh on 31 May or 1 June with 500 TEUs [twenty-foot equivalent units] of exporting goods," Mohammad Rashed, chairman of the shipping agent, told The Business Standard.

Currently, container ships from Chattogram go to transshipment ports such as Malaysia's Tanjung Pelepas or Klang, Singapore, Colombo or China before heading towards the European countries. The export consignments reach the destination via base ports such as Rotterdam, Antwerp and Hamburg in Europe. The entire journey takes around 40 days, while the freight cost for each container hovers around $12,000.

But direct shipping to the Netherlands will slash the time to 20 days, while freight cost will also be reduced by 20%-30%.

Syed Mohammad Arif, chairman of the Bangladesh Shipping Agents' Association, said direct shipping with Europe is very positive for the country's economy. "Increased freight traffic will prompt competition among shipping companies, leading to a reduced freight charge. Businessmen have already started reaping the benefits of direct shipping on three routes."

On 7 February this year, the first direct shipping from Chattogram port commenced, introducing the Chattogram-Italy route. The service was launched by the Italian freight forwarder RifLine. The company has so far imported and exported goods six times by four ships, with each trip taking 18-20 days.

Abul Kalam Azad, director of RifLine, said the container ship Cape Flores will reach Chattogram port on 8 June. On its next voyage, the vessel will carry goods to Turkey as well as Italy.

On 20 May, the London-based freight forwarder Allseas Global Logistics launched the Chattogram-Rotterdam-Liverpool route. Through the service, ships carrying export goods from Chattogram will first go to Rotterdam port in the Netherlands via the Suez Canal. After the unloading, the ships will go to the port of Liverpool in the United Kingdom. Vessels on the route will also carry imported goods to Chattogram.

Captain Syed Sohel Hasnat, chief executive officer of Phoenix Shipping Limited, a local representative of Allseas Global Logistics, said the direct freight service can deliver goods to the UK within 23 days. It takes about 35-40 days to reach the UK via transshipment ports in Singapore or Colombo.

On 24 May, the Chattogram-China-Hong Kong direct container cargo route was introduced by the Switzerland-based Mediterranean Shipping Company. Four vessels are operating on the route as two more ships are to join the fleet soon.

Rear Admiral M Shahjahan, chairman of the Chattogram Port Authority, said several other countries have also expressed interest in signing direct shipping contracts. These include Portugal, Slovenia and some Middle Eastern nations. Direct container shipping in the three routes will begin soon.

Rakibul Alam Chowdhury, vice-president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said direct freights with European countries have created huge potential for external trade. "This is a great achievement for Bangladesh, and the authorities must ensure that this service is not disrupted."

Chattogram port accounts for 92% of Bangladesh's external trade. It also handles 98% of the country's container shipments.

Direct shipping now to Netherlands

Direct container shipping to the Netherlands to begin this week slashing freight time and cost

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Bangladesh and Portugal are working to establish direct shipping links between the two countries to create new prospects for fast, cost-effective and reliable shipping for the Bangladeshi exporters while sending regular consignments to Europe by sea.

State Minister for Foreign Affairs Shahriar Alam appreciated the progress towards signing a Memorandum of Understanding (MoU) in this regard during his current visit to the European country.

Assuring Bangladesh's full support, he also expressed satisfaction over the progress towards formation of a working group for the timely implementation of the MoU.

Shahriar Alam discussed the development after receiving the Leixoes Port Authority delegation, led by the President of its Board of Directors Eng Nuno Araújo at the Bangladesh Embassy in Portugal.

He apprised the delegation of Bangladesh's existing port infrastructure and its further development opportunities to meet the regional and international requirements.

The representatives of the Leixoes Port Authority explored technical issues related to establishing direct links between the ports and discussed the feasibility of the said freight route.

Later that day, the State Minister met a business delegation from the "Business Association of the Lisbon Region" led by its Executive President Rui Jorge Rego.

He underscored the need for enhanced interaction between both business communities to tap the full potential of future trade and investment.

He suggested establishing a Joint Business Council to further the cooperation. Highlighting the investment friendly policies and incentives of the government, the State Minister invited the Portuguese Investors to make full use of the offered opportunity and invest in Bangladesh.

The business delegation commended the steady and continuing economic growth of Bangladesh and anticipated full support from the government for enhancing economic relations between the countries.

A video featuring Bangladesh's economic progress and potential was screened for the delegation also.

The State Minister also interacted with the members of the expatriate community in Portugal the day before.

Bangladesh Ambassador to Lisbon and other officials were present at both meetings.

Bangladesh to sign MoU with Portugal on direct shipping links

Bangladesh and Portugal are working to establish direct shipping links between the two countries to create new prospects for fast, cost-effective and reliable shipping for the Bangladeshi exporters while sending regular consignments to Europe by sea. State Minister for Foreign Affairs Shahriar...

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[Isa Khan]

Hong Kong wants Investment Promotion and Protection Agreement (IPPA) between Bangladesh and Hong Kong as it finds Bangladesh as one of the upcoming major economic players.

The proposal came when a six-member delegation from Hong Kong Economic and Trade Office in Bangkok (HKETO) led by its Director Mr Sheung-yuen Lee visited BEPZA Executive Office in Dhaka on Tuesday.

Sheung-yuen Lee said, Bangladesh is the first South Asian country where a Hong Kong office has been working to develop bilateral relations.

He said, Hong Kong has IPPA with over 30 countries to boost up economic and investment relationships. He hoped such type of agreement would be very effective for Bangladesh and Hong Kong to get closer through economic and investment ties.

Welcoming the delegation, BEPZA Member (Investment Promotion) Ali Reza Mazid said, Bangladesh is an emerging economy with huge opportunities.

He also said that investors from 38 countries including Hong Kong and China have already invested here, he added.

He requested the delegation to work together for more investment from Hong Kong in the EPZs and BEPZA Economic Zone.

Hong Kong wants IPPA with Bangladesh

Hong Kong wants Investment Promotion and Protection Agreement (IPPA) between Bangladesh and Hong Kong as it finds Bangladesh as one of the upcoming major economic players. The proposal came when a six-member delegation from Hong Kong Economic and Trade Office in Bangkok (HKETO) led by its...

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Bangladesh has felt the impact of the ongoing war between Russia and Ukraine. However, it somehow managed to continue its readymade garment (RMG) exports to the invading nation, Russia, and the exporters are now receiving payments without any hassle. However, the export volume almost halved during the war.
Some traders, who regularly export RMG items to Russia from Bangladesh, told Prothom Alo that they have reduced orders from the Russian buyers due to the prevailing uncertainty triggered by the war.

In many cases, they are demanding an advance payment of around 30 to 50 per cent from the Russian buyers, in addition to the regular requirement of letter of credit (LC) opening. If a buyer complies with these terms and conditions, the local traders start production in their factories.

Russia launched an invasion on Ukraine on 24 February, which prompted the western countries, including the United States, to impose multiple bans on it. Even Russian banks were axed from Swift, the global financial artery that allows the smooth and rapid transfer of money across borders. Added to that, the international carriers stopped shipping products to the transcontinental nation, which made trade from and to the nation more difficult.

According to the Export Promotion Bureau (EPB), the total exports to Russia in the first eight months of the financial year 2021-22 were worth $480 million. This implies that the monthly exports were $60 million. The exports would be worth $57 million if the following two months (March and April) after declaration of war are taken into account.

The Green Life Knittex, a RMG exporter, shipped different sorts of clothing worth $0.2 million to Russia on 23 February, just a day ahead of the war. It encountered complexities while sending required documents to the designated Russian bank, Alpha Bank, which triggered an uncertainty over the payment.

However, after a wait of several weeks, the RMG company received the payment before the Eid-ul Fitr, said its managing director (MD) Halim Biswas.

He further said that they still have a small order – worth USD 0.15 million -- pending from a Russian buyer for 10,000 jackets. Prior to starting production, they asked the buyer to make 50 per cent payment in advance through TT, a method of payment where products are arranged for shipment after payment is made to the stipulated bank account.

Fashion.com, another exporter, has been facing hazards to receive the payment against its exports to a Russian company due to war. However, it was paid $17,000 after a delay of around 170 days, which downsized the due payment to $10,000.

The company then suspended a Russian order of $0.3 million and started production once the arrear payment is made.

Khan Monirul Alam, managing director of Fashion.com, said they started production as per the Russian buyer’s requirement after receiving 50 per cent of the payment. The issues regarding bank payment were also fixed and they are now receiving export payment in dollars.

The managing director of leading exporter Tuska Group, Arshad Jamal, said they are avoiding new orders from Russian buyers due to the prevailing situation.

“You can say that we are walking cautiously. We are receiving some orders if there is no alternative way. But there is no hassle in receiving export income,” he said.

The Tuska Group MD sees no problem even if the leading brands, including H&M, Zara, Burberry, stop their businesses as some small buyers are emerging at the same time.

However, he noted that the development would not benefit Bangladesh to a significant extent as it is quite impossible for the new buyers to achieve the ability of buying RMG products from the international market.
“They have to import the products through intermediaries. Besides, there are issues over language and banking,” said Arshad Jamal.

Like Russia, the exports to Ukraine also continuing, though on a limited scale. The total exports to Ukraine in the first eight months of FY22 stood at USD1.8 million. The amount is estimated at USD 0.15 million if the last two months are taken into account.

Shahidullah Azim, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), described the continuance of exports to Russia as a positive thing for Bangladesh.

“Their domestic demands registered a significant fall due to the war. But we expect that we will be able to reclaim the Russian market after the war,” he said.

Exports to Russia continue despite war

Exporters are demanding an advance payment of around 30 to 50 per cent from the Russian traders, in addition to the regular requirement of letter of credit (LC) opening.

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[Isa Khan]

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[Isa Khan]

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[Isa Khan]

The Philippine government seeks Bangladesh's cooperation in implementing innovative solutions for the development of ICT, e-commerce and other sectors.

Sukarno Abas, Deputy Minister of the Ministry of Trade, Investments and Tourism of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), Philippines, made the remark while speaking with the State Minister for ICT Division, Zunaid Ahmed Palak, on Monday at the a2i office in Agargoan, said a media release.

State Minister for ICT Division Zunaid Ahmed Palak said, we have been able to successfully implement various innovative initiatives and solutions in the ICT sector in Bangladesh, especially in public-private, startup, small and medium, and e-commerce sectors.

"a2i's digital services are making a significant contribution to global innovation, the experience and knowledge of which we can share with the Philippines. By building linkages between academia and the private sector, Bangladesh can assist the Philippines in applying its learned knowledge to develop new solutions to various challenges, making the lives of its population easier. We can begin by implementing various B2B initiatives between the two countries through various digital channels." The state minister said.

Sukarno Abas, Deputy Minister of the Ministry of Trade, Investments, and Tourism of the BARMM, Philippines, stated the region was encountering a number of challenges in terms of transportation, communication, internet access, and the provision of municipal services.

"The Bangsamaro government is keen to work with Bangladesh to develop their country's ICT, e-commerce and other sectors." he added.

He believes that the learning visit will create opportunities for collaboration among them, a2i, and various organizations in the ICT sector in Bangladesh in the days ahead.

Ambassador of the Philippines to Bangladesh, Alan L. Deniega, stated that Bangladesh has demonstrated its potential as a prosperous state during the last 50 years. Bangladesh and the Philippines have a lot in common as emerging countries.

During the session, Alan L. Deniega, Ambassador of the Philippines to Bangladesh, Dr. Dewan Muhammad Humayun Kabir, Project Director, a2i, and M Asaduzzaman, Assistant Resident Representative of UNDP Bangladesh, were also present.

A high-level delegation from Mindanao and UNDP Philippines, led by the Deputy Minister of Commerce, Investment, and Tourism of the Bangsamaro Region, Mr. Sukarna Abas, is on a four-day visit to Bangladesh to learn about various IT-based innovative services developed by a2i.

Philippines seeks Bangladesh’s cooperation in ICT sector development

The Philippine government seeks Bangladesh's cooperation in implementing innovative solutions for the development of ICT, e-commerce and other sectors. Sukarno Abas, Deputy Minister of the Ministry of Trade, Investments and Tourism of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM)...

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South Korean Ambassador in Bangladesh Lee Jang-Keun paid a courtesy call to Bangladesh Army Chief, General SM Shafiuddin Ahmed, at Army Headquarter in Dhaka on Monday.

During the meeting, they exchanged greetings and discussed improving existing relations between the armies of the two countries, said an ISPR press release.

With this discussion, the army chief is hopeful about opening new prospects to enhance relations between the armies of the two countries, the release adds.

South Korean ambassador calls on Army chief

South Korean Ambassador in Bangladesh Lee Jang-Keun paid a courtesy call to Bangladesh Army Chief, General SM Shafiuddin Ahmed, at Army Headquarter in Dhaka on Monday. During the meeting, they exchanged greetings and discussed improving existing relations between the armies of the two countries...

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[Isa Khan]

Bangladesh has signed two MoUs with Hungary – one on cooperation in the field of training and education of atomic industry on the peaceful uses of nuclear energy and the other on diplomatic exchange programme.

Foreign Minister AK Abdul Momen and Hungarian Foreign Minister Péter Szijjártó signed the deals in Budapest on June 7, 2022 as they discussed future cooperation.

They also agreed to deepen relations in economy, health, climate change, water and waste-water management, trade and investment, nuclear energy, and post-Covid recovery.

During a meeting, Momen spoke of Bangladesh's leadership role in global climate discourse as the immediate past chair of the Climate Vulnerable Forum and requested the Hungarian foreign minister to extend cooperation to mobilise more support for implementing the Paris Climate Agreement.

They also agreed to cooperate in clean and renewable energy sectors and on training and education of nuclear energy professionals.

The ministers have expressed satisfaction on the successful ongoing cooperation within the framework of the Hungarian scholarship (Stipendium Hungaricum) programme, which provides 140 scholarships annually to Bangladeshi students to pursue undergraduate, graduate and post graduate studies in Hungarian universities.

Momen has requested the Hungarian Foreign Minister Péter Szijjártó to continue support in multilateral fora for the speedy and sustainable repatriation of Rohingyas to their homeland in Myanmar.

Minister Szijjártó has announced that the Consular Office of Hungary in Dhaka will act as a full-fledged consular facility. Both the ministers have expressed their hope to open resident missions in Dhaka and Budapest in near future.

Momen handed over to Minister Szijjártó a special message from Prime Minister Sheikh Hasina addressed to the newly re-elected Hungarian Prime Minister Viktor Orbán. The Foreign Ministers have agreed to work on a possible visit within 2022 of Prime Minister Orbán to Bangladesh.

Bangladesh, Hungary sign MoUs on nuclear energy education, diplomatic exchange programme

Bangladesh has signed two MoUs with Hungary – one on cooperation in the field of training and education of atomic industry on the peaceful uses of nuclear energy and the other on diplomatic exchange programme.

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Finland has shown interest in promoting cooperation in the development of a smart city and smart port in Bangladesh.

The Scandinavian country also conveyed the interest of the Finnish energy companies to collaborate with Bangladesh.

The issues were discussed during a meeting between non-resident Finnish Ambassador to Bangladesh Ritva Koukku-Ronde and Bangladesh's State Minister for Foreign Affairs Shahriar Alam at the foreign ministry today.

The ambassador is currently on a bilateral visit to Bangladesh and scheduled to meet the Commerce Minister Tipu Munshi and State Minister for Power, Energy, and Mineral Resources Nasrul Hamid.

They discussed ways to expand trade and investment, cooperation in climate action, sustainable development, migration and mobility, education and research, renewable energy and digital cooperation.

Both sides exchanged views on regional and multilateral issues including the Ukraine conflict and its implications.

State Minister Shahriar Alam encouraged the Finnish companies to benefit from the attractive business opportunities in Bangladesh and discussed possible economic engagements between the two countries.

The Finnish ambassador appreciated Bangladesh's role in maintaining regional stability by hosting 1.1 million Forcibly Displaced Myanmar Nationals and providing them with sustainable livelihood and education. She also praised Bangladesh's well recognised role in peacekeeping and peacebuilding.

State Minister Shahriar Alam sought Finland's support to Bangladesh's candidature to the UN Security Council membership.

Ritva Koukku-Ronde indicated to give due consideration to Bangladesh's bid.

Shahriar Alam flagged the issue of the visa difficulties experienced by the students aiming to go to Finland for pursuing higher studies.

The Finnish ambassador expressed her desire to collaborate more in the higher education sector and assured of easing the visa complexities shortly.

Finland keen on development of smart city, small port in Bangladesh

Finland has shown interest in promoting cooperation in the development of a smart city and smart port in Bangladesh.

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[Isa Khan]

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[Isa Khan]

A high-level bilateral meeting is scheduled to take place between Bangladesh and Nepal in July, whose agendas of discussion will include bilateral power trade and attracting Bangladeshi investment in Nepal's two hydropower projects.

Nepal will host the fourth meeting of the joint working group and joint steering committee between the two countries in Kathmandu, reports The Kathmandu Post.

"Electricity export and import will be high on the agenda in the context that India also appears keen to assist in promoting regional energy connectivity," said Madhu Prasad Bhetuwal, joint secretary and spokesperson of the Nepalese energy ministry.

Since India lies between Bangladesh and Nepal electricity trade cannot take place without its support.

During the third bilateral meeting between the two countries held in September 2021, they had agreed to develop a dedicated transmission line by taking India on board.

However, no trilateral meeting regarding the issue has been held yet, according to Bhetuwal.

According to a Joint Vision Statement on Power Sector Cooperation released in early April during Nepalese Prime Minister Sher Bahadur Deuba's visit to Delhi, Nepal and India agreed to expand cooperation in power sector by incorporating other partner countries under the Bangladesh, Bhutan, India and Nepal Initiative (BBIN) framework, subject to mutually agreed upon terms and conditions between all involved parties.

"But it is still a bilateral document," said Bhetuwal. "India has been positive on the issues at multilateral forums such as BBIN and BIMSTEC too."

Currently, there are cross-border transmission lines between Nepal and India and India and Bangladesh. But there are no trilateral arrangements for electricity trade.

"If India helps, there is still a chance for trading of electricity between Nepal and Bangladesh through existing Indian infrastructure too," said Bhetuwal. "But there has to be trilateral meetings and agreements."

And India has already expressed its support to the idea of transmission interconnectivity among BIMSTEC member countries. BIMSTEC is the short form of Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation.

During the third BIMSTEC Energy Ministers' Meeting held in Kathmandu in April, member countries approved the establishment of the BIMSTEC Grid Interconnection Coordination Committee to implement the provisions of the Memorandum of Understanding for establishment of the BIMSTEC Grid Interconnection and its terms of reference.

Bangladesh has already agreed to import 500MW of electricity from the 900MW Upper Karnali Hydropower Project. Indian Company GMR has received the construction license to develop this project.

Meanwhile, the two countries will also discuss developing two storage type hydropower projects—683MW Sunkoshi-3 Hydropower Project and Khimti Sivalaya Hydropower Project—with Bangladeshi investment, according to Bhetuwal.

When the two sides held a virtual meeting in September last year, they had agreed to work together to explore the possibility of developing the Sunkoshi-3 Hydropower Project with Bangladeshi investment.

As per the ministry's press statement last year, the Bangladeshi side was supposed to send a team to conduct field visits at the proposed site of the Sunkoshi-3 Hydropower Project by December last year.

However, the visit was postponed due to the Covid pandemic, according to Bhetuwal.

The project site straddles Ramechhap and Kavrepalanchok districts.

Its feasibility study has been completed but its Environment Impact Assessment Report has not yet been approved by the Nepalese Ministry of Forest and Environment.

Authorities are yet to determine the capacity of the proposed Khimti Sivalaya Hydropower Project to be developed in Dolakha and Ramechhap districts.

"Based on the ongoing feasibility study, its capacity might be in the range of 1100MW to 1720MW," said Gopi Prasad Sah, information officer at the Department of Electricity Development.

Bangladesh-Nepal to discuss power trade in upcoming bilateral meeting

A high-level bilateral meeting is scheduled to take place between Bangladesh and Nepal in July, whose agendas of discussion will include bilateral power trade and attracting Bangladeshi investment in Nepal's two hydropower projects. Nepal will host the fourth meeting of the joint working group...

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Dhaka plans to urge Kathmandu next month to allow two of Bangladesh's experienced power companies to invest in hydropower projects in Nepal.

If the plan gets the go-ahead, it will help Bangladesh import low-cost green electricity and meet its goal of 40% renewable energy by 2041.

Bangladesh is expected to propose the investment plan at a meeting of the joint working group and steering committee of the two countries in July. The date of the meeting is expected to be fixed next week.

Sources in the Power Division said since Nepal is open for investment in various hydropower projects, Bangladesh's large power companies – Summit Group and United Group – are interested in working there.

Besides, the government also wants to build a new hydropower plant through a joint venture between the Bangladesh Power Development Board and its counterpart, the Nepal Electricity Authority.

Asked for his comments, Engineer Mohammad Hossain, director general of the Power Cell, the policy research wing of the Power Division, told The Business Standard that the division has been considering both government-to-government and private investments in hydro projects in the Himalayan country.

"Some private power producers, such as Summit and United, have experience of implementing large power projects with 400MW to 500MW capacity. We have talked to them and found their responses to be good," he added.

There are around 53 private power producers in Bangladesh with a combined capacity of generating 11,108MW of electricity.

Meanwhile, quoting Madhu Prasad Bhetuwal, spokesperson of Nepal's energy ministry, The Kathmandu Post reported that the two countries will also discuss developing two storage-type hydropower projects – 683MW Sunkoshi-3 Hydropower Project and Khimti Sivalaya Hydropower Project – with Bangladeshi investments.

Nepal has a hydropower potential of around 80,000MW though the country at present has the capacity to produce around 2,000MW. It has been exporting power to India since 2019 at a rate of six Indian rupees per unit. The price for Bangladesh has not yet been fixed.

In recent times, Bangladesh has also signed a power purchase agreement (PPA) with Nepal to import 500 megawatts from the proposed 900MW run-of-the-river hydroelectric power plant – Upper Karnali Hydropower Project – which is supposed to be developed by India's GMR Group.

Bangladesh plans to draw electricity from this project from 2026. The final PPA for the purchase is now in the vetting stage.

Complexity over transmission line

On the electricity question regarding Bangladesh, Bhutan, India, and Nepal – the BBIN nations – India is in a key position from a geographical perspective to transmit electricity from one country to another.

At present, there are cross-border transmission lines between Nepal and India and India and Bangladesh. But there are no trilateral arrangements with regard to trade in electricity.

Nepal has cross-border transmission lines with the Indian states of Bihar, Uttar Pradesh and Uttarakhand, but it has no line with West Bengal. Bangladesh has cross-border transmission lines with the Indian states of West Bengal and Assam.

"If India helps, there is still a chance for a trading of electricity between Nepal and Bangladesh through existing Indian infrastructure too," Bhetuwal told The Kathmandu Post.

"But there have to be trilateral meetings and agreements," he added.

During a two-day bilateral meeting between India and Nepal beginning on 24 February, both countries decided to conduct a feasibility study on electricity line installation, reports The Kathmandu Post.

Currently, Bangladesh imports 1,160MW power from India through Baharampur-Bheramara and Tripura-Cumilla cross-border grid lines.

The country needs higher power cross-border transmission lines as it has a target of increasing the share of imported electricity by up to 40% by 2041 in the energy mix, when the total generation capacity will reach 60,000MW.

At present, the country generates 52% of electricity from natural gas, 32% from liquid fuel and 8% from coal, while the remaining 8% comes from imports.

Dhaka wants local investors in Nepal’s hydropower

Bangladeshi large power companies Summit Group and United Group are interested in various hydropower projects

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[Isa Khan]

Launching a direct shipping route from Chattogram port to the Port of Koper in Slovenia can significantly increase the volume of readymade garments exported from Bangladesh to Europe, said the RMG exporters.

Besides, the time needed for transporting goods from Bangladesh to the European countries will decrease by 15-20 days if the Chattogram-Koper route is launched, said the leaders of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) at a meeting with the Chattogram Port Authority (CPA) and a delegation from the Koper port.

The meeting of the representatives of the two ports and the BGMEA was held at the Chattogram Port Building to examine the possibility of a direct shipping route from Chattogram port to the Port of Koper on Tuesday.

At the event, Borut Semrl, manager (sales) at Port of Koper, said the port in Slovenia is associated with Hinterland Container Market, Austria, Slovakia, Hungary, Poland, Italy, Czech Republic, Germany, Croatia, Bosnia, Herzegovina, and Serbia.

CPA Rear Admiral M Shahjahan said the Port of Koper can assist Bangladeshi exporters to deliver goods to East European and Central European countries.

"We will be able to deliver the cargo in 15-20 days through this route. This will reduce freight charges and decrease shipping time, which will benefit our traders. The country will also be economically prosperous," he said.

At the event, BGMEA First Vice President Sayed Nazrul Islam said, "Bangladesh exported RMG goods worth $69.90 during FY21 and $101.74 during FY22 to Slovenia. We believe that the Chattogram port and the Port of Koper in Slovenia will continue this venture of mutual relationship and strengthen our trade relationship in future."

He said about $31.45 billion RMG products have been exported in FY21. As of May in FY22, the export amounted to $38.52 billion.

Sayed Nazrul further said, "Various transshipment ports are facing congestion troubles, but our enthusiastic port chairman has taken tremendous steps to arrange direct vessels from Chattogram port to the European ports."

"As a result, shipping cost and time are becoming competitive. Foreign buyers and our exporters are now becoming interested in using these direct vessels."

Mitja Dujc, commercial director at Port of Koper, Miha Groznik, honorary consul at Consulate of Bangladesh in Slovenia, Kabir Ahmed, president of Bangladesh Freight Forwarder Association (BAFFA), Khairul Alam Sujan, vice president of BAFFA, and senior BGMEA officials were present at the meeting.

On behalf of the CPA, its members (Administration and Planning) Md Zafar Alam, Director (Traffic) Enamul Karim, Deputy Conservator Capt Faridul Alam, Acting Secretary Md Nasir Uddin and other senior officials participated in the meeting.

Currently, container ships from Chattogram go to transshipment ports such as Malaysia's Tanjung Pelepas or Klang, Singapore, Colombo or China before heading towards the European countries. The export consignments reach the destination via base ports such as Rotterdam, Antwerp and Hamburg in Europe. The entire journey takes around 40 days.

On 7 February this year, the first direct shipping from Chattogram port commenced, introducing the Chattogram-Italy route. On 20 May, the London-based freight forwarder Allseas Global Logistics launched the Chattogram-Rotterdam-Liverpool route. Direct shipping with the Netherlands began in early June.

Direct shipping to Europe slash the time to 20 days, while freight cost will also be reduced by 20%-30%.

Direct shipping route to Slovenia could boost Bangladesh’s RMG export

A direct shipping route from Chattogram port to the Port of Koper in Slovenia will reduce the transportation time and cost

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The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has requested the Russian government to give Bangladeshi apparel items duty-free access to its market.

"Since Bangladesh has graduated to a middle-income country, there will be certain changes in market access after 2026, we need to diversify our exports to markets where we have clear potential. For us, the topmost priority is to get preferential market access to Russia," said its president Faruque Hassan recently in a letter to Alexander Vikentyevich Mantytskiy, Russian ambassador to Bangladesh.

Talking to The Business Standard, Faruque Hassan said, "If we can get duty-free access to the Russian market, it will not only open a great opportunity for us to deepen our trade relationship, but also Russian consumers can benefit themselves by availing quality goods at competitive prices."

The BGMEA president mentioned, "You are aware of the fact that the clothing made in Bangladesh faces high tariffs in Russia. Our products face 5% to 20% (mostly 10%) customs duty while being exported to Russia."

Besides, there are some banking related difficulties in trade between Bangladesh and Russia, he also said, adding, "We are interested in working together to identify the barriers within the trade and commerce between two countries and resolve them."

"We are also keen to facilitate direct and joint investments in prospective sectors, such as high-end apparels, non-cotton yarns and fabrics, etc.," he added.

Talking to TBS, Habib Ullah Dawn, president at Commonwealth of Independent States-Bangladesh Chamber of Industry, said Bangladesh has already signed a memorandum of understanding with the Eurasian Economic Union, aiming to make a free trade agreement.

"If Russia gives duty-free market access, it will create a big opportunity for Bangladeshi exporters to explore markets of the Russian-led Eastern European economic union comprising Belarus, Kazakhstan, Armenia and Kyrgyzstan."

At the same time, it will also open markets of the Commonwealth of Independent States as well, he added.

At present, CIS unites are Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan and Ukraine.

The BGMEA president in his letter acknowledged the people of the Russian Federation's support to Bangladesh during the War of Liberation in 1971. Russia was one of the first few countries that officially recognised Bangladesh as an independent nation.

Throughout the journey of Bangladesh toward a developing nation, Russia has always remained as a trusted development partner and a source of investment. The relations between Bangladesh and Russia have grown in depth and dimension, but the bilateral trade is yet to reach its prospects. In fact, economic ties and cooperation are crucial for enhanced bilateral relations.

Russia is one of the major development partners for Bangladesh. "Given the contribution of Russia through development initiatives and infrastructure projects, our bilateral trade remains very insignificant," he noted.

In the fiscal year 2020-21, Bangladesh's total export to Russia was $665.32 million and import from Russia amounted to $481.88 million. So, bilateral trade was worth only $1.1 billion.

"We have a huge opportunity to improve trade. In 2020, Russia's apparel imports from the world stood at $6.91 billion, while the share of Bangladesh was only 11.72%, despite the fact that we are the second biggest source of apparel for Russia," said Faruque Hassan.

"Readymade garments constitute around 90% of our total exports to Russia," he also said.

In FY21, Bangladesh export of apparels to Russia was $593.66 million, which can be increased further, he added.

"From a neutral point of view, Russia can benefit by sourcing from Bangladesh since we produce quality apparels at a very competitive price," Faruque Hassan added.

The BGMEA letter also mentioned, "In the past decade, we have built tremendous capacities in the textile and garment sector in the area of sustainability, especially environmental sustainability, workers' well-being, and industrial relations."

Bangladesh is the home to the highest number of green garment factories in the world. "We have already made a huge investment in technology up-gradation, innovation, and value addition to make the industry more competitive. So Bangladesh is an ideal location for Russia to meet its fashion needs," the BGMEA president noted.

Bangladesh keen on FTA with Eurasian Economic Union

Earlier in January this year, Bangladesh expressed interest in signing a FTA with the Eurasian Economic Union (EAEU).

The commerce ministry requested the foreign ministry to make a formal proposal to the Eurasian Economic Commission regarding the signing of the FTA.

The countries belonging to the European Union, one of the largest economic blocs in the world, had a foreign trade volume of $7,311 billion in 2020. The gross domestic product of the countries is $1,634 trillion.

Bangladesh does not get duty free facilities to Eurasian markets that have huge potential for Bangladesh's export products. The country's exports to these countries have increased significantly over the past decade and the amount stands around $500 million.

According to the Export Promotion Bureau, Bangladesh's exports to the EAEU during July-December of the current financial year amounted to $382 million, which was $677 in the previous fiscal year. And, in FY20, Bangladesh exported goods worth $498 million to the EAEU.

Bangladesh has huge potential for the exports of frozen food, knitwear, jute goods and shrimp to countries in the region.

Exports are not growing at the desired level due to the lack of duty-free facilities and the complexity of direct banking transactions with Russia due to US sanctions, according to the commerce ministry officials.

That is why the Bangladesh Bank has taken initiative to ensure a duty-free export facility by signing FTA and swapping currency with the Central Bank of Russia.

Following the signing of the Trade and Investment Framework Agreement or TIFA with the United States in 2014, Russia also proposed the formation of an intergovernmental commission with Bangladesh to enhance trade, investment, scientific and technical assistance, which the two countries signed in 2017.

During the last decade, the trade volume has increased substantially. In this context, the commerce minister signed a Memorandum of Cooperation between Bangladesh and Eurasian Economic Commission in Moscow in May 2019.

To face post-LDC challenges, the commerce ministry has taken a strategic policy of signing FTA and Preferential Trade Agreement (PTA) with its important trading partners, including the EAEU, for ensuring smooth and sustainable graduation.

BGMEA wants duty-free market access to Russia

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has requested the Russian government to give Bangladeshi apparel items duty-free access to its market. "Since Bangladesh has graduated to a middle-income country, there will be certain changes in market access after 2026, we...

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[Isa Khan]

Bangladesh is trying to secure wheat supplies from Russia in a government-to-government deal after its biggest supplier India restricted exports of the grain last month to contain local prices, government and trade officials told Reuters on Wednesday.

The supply deal with Russia, the world's biggest wheat exporter, could help Dhaka in meeting its needs below the elevated global prices, industry officials said.

Bangladesh is holding a virtual meeting with Russia on Thursday to finalise the deal, said a senior official with Bangladesh's food ministry.

"We'll initially seek at least 200,000 tonnes of wheat from Russia," said the official, who declined to be named.

The Ministry of Food did not immediately respond to a request for comment.

Bangladesh imports around 7 million tonnes of wheat and last year more than-two thirds of that came from India.

After India's export ban, Bangladesh tried to secure supplies via international tenders but cancelled them because of high prices.

Bangladesh was paying less than $400 per tonne on the cost and freight basis for Indian wheat, but after the ban other suppliers started quoting above $460, which raised local prices in Bangladesh, said a Mumbai-based dealer with a global trading firm.

The Bangladesh government is struggling to contain soaring commodity prices, with inflation at an eight-year high in May, while the country's wheat stocks hit their lowest in three years at 166,000 tonnes.

"There are many countries who can supply wheat to Bangladesh, but the key issue is price. Russia can offer discounts over global prices," said a New Delhi-based dealer with a global trading firm.

But paying for Russian wheat would be a challenge for Dhaka given Western sanctions on Moscow.

"All the issues, including payment, will be discussed in the meeting. Let's see," the government official said.

Bangladesh would initially buy a small amount of Russian wheat and will increase buying if "all goes well on arranging shipments and payment's front," said the New-Delhi based dealer.

Bangladesh seeking wheat from Russia, officials say

Bangladesh is trying to secure wheat supplies from Russia in a government-to-government deal after its biggest supplier India restricted exports of the grain last month to contain local prices, government and trade officials told Reuters on Wednesday.

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Russia has already given offer to export two lakh metric tons of wheat to Bangladesh, Food Minister Sadhan Chandra Majumder told the parliament today (June 23, 2022).

In reply to a lawmakers' query from Awami League MP Shafiul Islam from Dhaka-10, the food minister said, the foreign ministry has approached different wheat exporting countries for importing wheat as the prices of wheat and flour has gone up along with various food grains, due to the war between Ukraine and Russia.

"Russia already has offered to export two lakh metric tons of wheat to Bangladesh. Besides, a letter has been sent to the Bangladesh High Commission in Delhi to import wheat from India at government and private levels," the food minister added.

Russia offered to export 2 lakh metric tons of wheat to Bangladesh

Russia has already given offer to export two lakh metric tons of wheat to Bangladesh, Food Minister Sadhan Chandra Majumder told the parliament today (June 23, 2022).

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The ongoing Russia-Ukraine war has started to have a heavy impact on garment shipments to Russia as export earnings are declining significantly from this promising market for Bangladeshi apparel goods.

In the July-February period, earnings from garment export to Russia stood at $482.23 million, meaning that the average monthly earning was $60.15 million in the first eight months of the current fiscal year.

However, the average monthly earning in the last three months between March and May from the Russian market declined significantly to $27.05 million, totalling $81.17million.

Although apparel shipment earnings during the July-May period showcased a 4.32 per cent year-on-year growth to $562.40 billion, the amount was mainly against garments shipped before the start of the war.

In the July-May period of last fiscal year, earnings from apparel shipments to the Russian market stood at $539.10 million, according to data from the Export Promotion Bureau (EPB).

Exporters said the shipments of garment items declined to Russia after the beginning of the war mainly for two important reasons.

Firstly, many goods-carrying ships were stuck in associated ports in the beginning of the war. Secondly, when the SWIFT ban against Russian banks came into effect, the local exporters were in a quagmire as to how they could receive payments.

As a result, they did not manufacture goods for future shipments, although work orders had been placed earlier.

So, garment export to Russia is going through a downward trend over the last three to four months.

However, the exporters are saying that shipments would rebound soon for the restoration of formal shipping channels and arrangements for local exporters to receive payments in Chinese currency.

The local exporters appreciated payments in Chinese currency as it is helping them continue business with Russia.

With the war running for the past five months, local garment exporters are still hopeful that shipments to Russia will rise because it had continued even during the war.

They are hopeful, going as far as even expecting the shipment figures to go up in the future as Russian retailers and brands have been placing work orders with Bangladeshi manufacturers while foreign retailers and brands had been leaving Russia for the SWIFT ban.

The local garment exporters said earnings from shipping apparel items to Russia was supposed to be grounded, as predicted by some people because of the outbreak of the Russia-Ukraine war that began on February 24 this year.

Still, they are capable of making earnings from the shipments to Russia although the growth is declining every month.

For instance, Rajiv Chowdhury, managing director of Fatullah-based Young 4 Ever Textile, said he was able to receive $5 lakh as export payment from his Russia buyer but through an alternative route from Turkey.

"Primarily with the breakout of the war, I was scared regarding the payment from the Russian buyer but finally the buyer paid me the amount from Turkey," he said.

Until now, the Russian buyers had been interested in placing work orders to his factory but Rajiv remains very cautious regarding buyers from this nation as the war was still going on.

With the SWIFT ban, many local garment exporters have been receiving payments through alternative channels such as in Chinese currency.

Chowdhury also said big buyers easily complete making payments through the alternative channels such as in Chinese currency but reaching shipments to the war zone had turned very risky.

He said every year he usually ships more than $1 million worth of knitwear items like t-shirts and polo shirts to Russia.

Shahidul Islam, managing director of Rupa Group, another exporter of knitwear items like sweaters, polo shirts and t shirts, has been very cautious in making shipments to Russia although he was determined to reach his goods in spite of the risks posed by the war.

Usually, he ships knitwear items worth $2 million in a year. But reaching this annual figure apparently seems impossible within the six months left of the current year because of a slowdown in exports for the war, he said.

Shipments to Russian markets will rebound for local garment exporters as this is a promising one, he said.

Mohammad Hatem, executive president of the Bangladesh Garment Manufacturers and Exporters Association, still sees Russia as a very promising export destination as Russian buyers were getting habituated to paying through alternative channels such as in Chinese currency.

Moreover, the old export shipment routes of Russia have also been restored. For instance, currently, the local garment exporters can ship goods through the ports in Finland, Belarus and Hamburg.

The only route closed until now for shipment of goods to Russia is through Poland, he said. "We see Russia as a boon in spite of the ban," he said.

"We are exporting in alternatively ways and receiving payments in alternative ways. Hope the export will rebound to Russia soon," said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association.

Few work orders were put on hold and deferred and now the business is being restored gradually, he said.

RMG exports to Russia on decline

The ongoing Russia-Ukraine war has started to have a heavy impact on garment shipments to Russia as export earnings are declining significantly from this promising market for Bangladeshi apparel goods.

www.thedailystar.net

Bangladesh and the European Union today agreed to form a joint committee to find out the challenges standing in the way of smooth customs clearances and the opportunities a simplified procedure can offer for both express and non-express air cargoes.

Quick customs clearance at both airports and seaports is important to expedite exports and imports of Bangladesh.

Exporters and importers have long been complaining about the delay in the release of goods at ports caused by the usual-than-excess time taken for customs clearance since it increases the cost of business.

Under the circumstances, Bangladesh and the EU decided to establish the joint committee on customs clearance at the 7th EU-Bangladesh Business Climate Dialogue (BCD) at the Intercontinental Hotel in Dhaka.

In the shipping and logistics, they agreed to accelerate the removal of idle containers from the Chittagong Port premises in order to ramp up cargo-handling capacities and improve the health and safety situations at the port, the largest gateway for Bangladesh's trade with the EU.

In a joint statement, the two sides said approval would be issued for the interchange of empty containers between Dhaka rail and river terminals.

Bangladesh has agreed, as suggested by the EU, to launch a survey to assess the costs and benefits of up to 100 per cent foreign direct investment in the logistics sector in the country.

The EU side informed the meeting about two upcoming initiatives.

One of them is a new initiative named EU-Bangladesh Meaning Business, which is conceived to mark the 50th anniversary of the EU's diplomatic ties with Bangladesh.

The second is the establishment of the European Union Chamber of Commerce (Eurocham) in the country.

It aims to build bridges between the private sectors of both sides and serve as a centre of excellence, connecting Bangladesh's public and private sectors with investors from Europe, to the benefit of smooth and sustained business relations.

Govt, EU agree to ease customs clearance at ports

Bangladesh and the European Union today agreed to form a joint committee to find out the challenges standing in the way of smooth customs clearances and the opportunities a simplified procedure can offer for both express and non-express air cargoes.

www.thedailystar.net

Italy is keen to supply liquefied petroleum gas (LNG) to Bangladesh.

Italian Ambassador to Bangladesh Enrico Nunziata expressed the willingness during a meeting with State Minister for Power, Energy and Mineral Resources Nasrul Hamid at the minister's office on Thursday.

The Italian envoy informed the state minister that its state coordinated energy company Eni SPA is interested to supply the LNG and also wants to work with Bangladesh to contribute in the field of sustainable energy, gas exploration, LNG and traditional refinery development, wind, hydrogen and new technology invention.

He also presented the current state of Italian companies' operations in energy and technology sectors in Bangladesh.

The Italian envoy discussed different issues including decarbonsation, bio refining, development of renewable energy, hydrocarbon production.

Appreciating the Italian interest, Nasrul Hamid said the European company will be welcomed in Bangladesh.

He said the business model through which the Italian company wants to supply the LNG should be discussed at the expert level.

"Bangladesh and Italy can exchange their experiences in oil and gas exploration and also in the development of hydrogen fuel," he said.

Both the nations would be benefited if such experiences are exchanged at the officials' level under a certain framework, he added.

Senior Vice president of the International Affairs Analysis and Business Support Department of Eni SPA Marco Piredda, Vice President of the Business Development Department Mauro Rinaudo, were among others present in the meeting.

Italy keen to supply LNG to Bangladesh

Italy is keen to supply liquefied petroleum gas (LNG) to Bangladesh. Italian Ambassador to Bangladesh Enrico Nunziata expressed the willingness during a meeting with State Minister for Power, Energy and Mineral Resources Nasrul Hamid at the minister's office on Thursday. The Italian envoy...

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[Isa Khan]

Saudi Arabia wants direct shipping between Chattogram and Jeddah as the Middle Eastern country is eager to strengthen economic relations in the areas of trade and investment, culture, education and in tourism.

Saudi Ambassador to Bangladesh Essa Youssef Essa Al Duhailan communicated this when he called on State Minister for Foreign Affairs Md Shahriar Alam at the foreign ministry today.

Bangladesh exports products worth about USD 400 million to Saudi Arabia, which is home to about two million Bangladeshis. The country has shown increased interest in investing in Bangladesh in recent times.

During the meeting, Saudi Ambassador congratulated the Bangladesh government for the successful completion of Padma Multipurpose Bridge under the leadership of Prime Minister Sheikh Hasina.

Shahriar Alam thanked the Saudi government for necessary arrangements, including pre-immigration facilities for pilgrims in Dhaka Airport.

He expressed his satisfaction on the excellent relations between Bangladesh and Saudi Arabia in bilateral and multilateral sectors.

He also thanked the ambassador for his efforts in promoting relations between Bangladesh and Saudi Arabia.

Saudi Arabia wants direct shipping between Ctg-Jeddah

Saudi Arabia wants direct shipping between Chattogram and Jeddah as the Middle Eastern country is eager to strengthen economic relations in the areas of trade and investment, culture, education and in tourism.

www.thedailystar.net

 

[Isa Khan]

Sri Lanka's state-owned Jaya Container Terminal at Colombo Port has offered priority berthing facilities to Bangladeshi feeder vessels.

Chairman of Sri Lanka Ports Authority (SLPA) Prasantha Jayamanna has recently announced it at a discussion in Colombo, according to a message received today (July 1, 2022).

He briefed Bangladesh about the present facilities as well as ongoing and future expansion plan of Colombo Port which would increase their container handling capacity to 15 million TEUs once completed in 2025-26.

Bangladesh High Commission has been pursuing this priority berthing issue with SLPA for long, said the message from the mission.

Bangladesh High Commission to Sri Lanka organised a stakeholders' consultation forum in Colombo recently on enhancing shipping connectivity between Chattogram and Colombo ports pursuant to observance of the First Economic Diplomacy Week.

The purpose was to facilitate greater understanding of operational issues between Chattogram and Colombo ports and ensure greater connectivity and supply chain security and stronger partnership between the two ports.

Representatives from port authorities of Bangladesh and Sri Lanka, terminal operators, main line operators, feeder operators, freight forwarders as well as users of the two ports presented their respective perspectives.

Bangladesh High Commissioner to Sri Lanka Tareq Md Ariful Islam shared the potential Bangladesh's economic development holds for Colombo Port.

He also mentioned of the changes in the global logistics operations due to the pandemic and now the war, the resultant trends in shipping and necessity of offer of possible incentives from Colombo Port.

The chairman of SLPA, private terminal operators and Sri Lankan shipping community assured of giving continued priority to Bangladesh users, according to Bangladesh High Commission in Colombo.

Referring to the recent negative media reporting on Colombo Port, they clarified that that their Port's operation remains unaffected by the crisis situation in the country.

Representative of Chattogram Port Authority shared that Bangladesh's container traffic through Colombo Port increased significantly last year.

Representatives of Bangladesh stakeholders shared the users' perspective about Colombo Port, emerging trends and challenges in shipping operations.

In the interactive session that followed, the panellists from both sides responded to the queries from the participants which cleared many of the issues involving Chattogram-Colombo connectivity.

Sri Lanka offers special port facilities to Bangladeshi vessels

Sri Lanka's state-owned Jaya Container Terminal at Colombo Port has offered priority berthing facilities to Bangladeshi feeder vessels.

www.thedailystar.net

 

[Isa Khan]

Bulgaria, a country in south-eastern Europe, is hiring skilled manpower from Bangladesh with the promise of handsome salaries.

As of now, the European market remains one of the top export destinations of Bangladeshi readymade garments (RMG) products.

But this is the first time that Bangladeshi RMG workers are about to start their occupational journey to a European country.

The move reaffirms the presumption that major brands and buyers in Europe and the United States are shifting their focus to nearshoring and automation.

According to a recent report by the global consulting firm McKinsey & Company, global apparel brands and retailers have to ramp down RMG imports from Asian countries in order to sustain themselves.

"This is the first official move to recruit RMG workers from Bangladesh by any European country," said Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Bulgarian firms took this initiative as most buyers want to source products from near-shore to reduce the lead-time – the time between the initiation and completion of a production process.

"We think everyone has the right to choose a better life. The job offers from the Bulgarian factories will help workers to make a good living. At the same time, we are also training more people to make a skilled workforce", he added.

He, however, mentioned that a small number of Bangladeshi nationals are working at some garment factories in England.

Primarily, two Bulgarian companies- AntoanVill and Mizia-96AD - are recruiting 100 workers at a salary of $460 (Tk45,000) per month.

The recruitment process has already started under the supervision of the Bangladesh Overseas Employment and Services Limited (BOESL).

These companies are looking for proficient workers, especially swing machine operators, pressing machine operators and textile tailors, according to BOESL sources.

The income of an RMG worker in Bangladesh hovers around Tk8,000 to Tk8,420. Those who will be recruited by Bulgaria will earn five times more than they make in the country.

As per the terms of employment, the tenure of the contract will be for a maximum of three years and is renewable every time. In addition to the monthly salary, airfare, a $50 monthly allowance for meals and a separate room for the accommodation of 3-4 people will be provided by the company.

However, electricity and water bills have to be borne by the workers. Compensation for workplace accidents and other matters will be applicable in accordance with Bulgarian labour law.

Both male and female candidates, aged from 20 to 35 years, are eligible to compete in the recruitment process.

The total migration cost is Tk52,740, including the Tk42,000 service charge of BOESL.

According to the stakeholders, BOESL, a state-owned labour exporting company, is charging too much for the migration, just like private recruiters.

Banani Biswas, general manager (Overseas Employment) of BOESL, told TBS, "Even though they are hiring 100 workers at the moment, we are hoping to send more in the future."

"We have never sent skilled RMG workers to Europe before. Earlier we exported workers to Jordan - a country in western Asia. This is the first time our workers are going to Bulgaria through BOESL," she said.

On the issue of high migration costs, she said, "The BOESL board determines the cost of immigration. If it is too high, we will raise the issue with the board again for reconsideration."

According to the terms of employment, a worker has to work for 8 hours a day. Overtime payments will also be provided as per company policy.

Among interested candidates, BOESL is taking vocational assessments every Friday at Bangladesh-Korea Technical Training Centre. Representatives from Bulgaria will select the final candidates through re-examination.

Bulgaria has a long history of being a centre of fashion in Eastern Europe. Located at the eastern edge of Europe, Bulgarian fashion manufacturing has been often compared to the high quality of its Turkish neighbours.

Family-run production facilities pass down hand skills from generation to generation, and this, mixed with new sewing technology, has made Bulgaria a hotspot for apparel and textile sourcing.

Today, garment and textile production remain one of the major industries for Bulgaria, employing thousands in the workforce.

Bulgaria has some of the lowest production costs in Europe, and due to its membership of the European Union, it maintains all ethical and environmental standards.

The Bulgarian fashion segment revenue was an estimated $324 million in 2018.

About 150,000 people are currently employed in the garment and textile industry in Bulgaria, according to Sqetch - an apparel sourcing and product development site.

Bangladesh exported apparel in Bulgaria amounting to $1.79 million in FY 21, while the RMG shipment was $2.27 million in FY 20.

Among the recruiting companies, ANTOAN VILL has specialized in the production of high-quality women's clothing since 1998.

According to BOESL, it makes a variety of styles - dresses, blouses, tops, jackets, trousers, skirts, etc. It has established long-lasting partnerships with a number of international fashion brands, recognised by consumers in Germany, Belgium, Sweden, Great Britain and other EU countries.

Currently, Bangladeshi skilled female RMG workers are employed in Jordan, with a monthly salary of Tk22,000.

Apart from this, some Bangladeshis also work in Italy's RMG factories, according to the Ministry of Expatriates' Welfare and Overseas Employment.

"Bangladesh has an abundance of labour in the sector of readymade garments. The workers are aptly skilled. We can look forward to exporting this available manpower overseas. The European market can be an ideal destination for garment manpower export," said Tasneem Siddiqui, founding chair of the Refugee and Migratory Movements Research Unit (RMMRU).

"However, BOESL needs to make sure that this number continues to grow. If we can send at least 10,000 people a year to the European market, it will have a huge impact on remittance inflow," she added.

Europe, US to reduce import of RMG from Asia

Within 2025, major brands and buyers from Europe and the United States can cut down on their import of ready-made garments from countries like China, Bangladesh, and Vietnam, according to a global consulting firm McKinsey & Company's report titled,"Is apparel manufacturing coming home?"

The report was made following a survey of 180 brands, buyers and executives jointly with the business publication Sourcing Journal.

The report mentioned that tomorrow's successful apparel companies would be those that take the lead to enhance the apparel value chain on two fronts: nearshoring and automation.

Both must be addressed in a sustainable way. Apparel brands and retailers in Europe and the United States can no longer do business as usual and expect to thrive, the report said.

Foreign brands have made such plans because of the increased cost of production due to the increase in wages in these countries.

Brands and buyers from Europe and US want to manufacture clothing from nearby countries like Mexico and Turkey instead of China, Bangladesh, and Vietnam.

They think that they will be able to pick up clothes at their own retail in less time. As fashion is changing day by day, buyers want clothes in less time and at less cost, the report mentioned.

The report also said that it takes 30 days for shipping goods from Bangladesh to Germany, while only 3-6 days are needed for goods to be shipped to Germany from Turkey.

In July-May of FY22, readymade garment shipment saw about 35% growth to $38.52 billion over the corresponding period in the previous year, according to data published by the Export Promotion Bureau (EPB).

During this period, Bangladesh's export to the EU was about $19.3 billion, which is 50.11% of total apparel export, while the United Kingdom and the United States maintain 10.63% and 21.15% shares respectively of Bangladesh's total apparel export.

The EU's top 7 export destinations are – Germany with $6.5billion, Spain with $2.72 billion, France with $2.15billion, Poland with $1.82 billion, Italy with $1.42billion, the Netherlands with $1.32billion, and Denmark with $1.03billion.

Bulgaria hiring RMG workers from Bangladesh

Currently, Bangladeshi skilled female RMG workers are employed in Jordan, with a monthly salary of Tk22,000

www.tbsnews.net

https://twitter.com/i/web/status/1543447734815862784

 

[Isa Khan]

The preferential Trade Agreement (PTA) between Bangladesh and Bhutan that will give duty-free market access to more products from both the countries came into effect on 1 July.

The agreement will provide duty-free access to 10 products from Bangladesh in addition to the already 90 existing products, Kuensel reports.

Meanwhile, 16 more Bhutanese products would enjoy duty-free export to Bangladesh along with the existing 18 products.

Goods that get duty-free to Bangladesh include milk, natural honey, wheat or meslin flour, homogenised preparations of jams, fruit jellies, marmalades, food preparations of soyabeans, mineral water, wheat bran, quartzite, cement clinker, portland cement, soap, ferrosilicon, bars and rods of iron or non-alloy steel, wooden particle boards, and wooden furniture.

Meanwhile, goods from Bangladesh that Bhutan would give duty-free access include pineapple juice, guava juice, orange juice, green tea, waters including mineral and aerated, particle board, plywood, men or boy jackets and blazers, men or boy trousers and shorts, and baby garments and clothing.

According to the press release of the trade department under the economic affairs ministry, the PTA aims to promote and expand bilateral trade between the two countries by implementing appropriate measures including reducing or eliminating barriers affecting trade.

"The department is optimistic that the bilateral trade instrument would help further expand and diversify Bhutanese exports," the press release stated.

The department also requested the private sector to familiarise the favourable market opportunities provided by the PTA.

The Third Parliament of Bhutan during its sixth session in 2021 has ratified the PTA between Bhutan and Bangladesh.

Bangladesh-Bhutan PTA gives duty-free market access to more products

The preferential Trade Agreement (PTA) between Bangladesh and Bhutan that will give duty-free market access to more products from both the countries came into effect on 1 July. The agreement will provide duty-free access to 10 products from Bangladesh in addition to the already 90 existing...

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https://twitter.com/i/web/status/1544990351877890049

 

[Isa Khan]

Argentina is planning on opening its embassy in Dhaka in order to strengthen economic and political relations with Bangladesh.

Claudio Rozencwaig, the undersecretary of Foreign Policy of the Ministry of Foreign Affairs, International Trade and Worship of Argentina shared the information with Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President Md Jashim Uddin during a meeting on Monday (11 July), said a press release.

Claudio Rozencwaig is leading an Argentine delegation visiting Dhaka and expressed interest in boosting bilateral relations on all fronts.

He also invited FBCCI to lead a business delegation to Argentina to attend business to business meetings on potential sectors.

FBCCI President Md Jashim Uddin stressed on establishing institutional partnership between the private sectors of two countries and proposed signing MoU between FBCCI and its counterpart in Argentina to enhance trade engagements.

To harness the trade potentials of Bangladesh with Latin America, Jashim Uddin also sought the support of Argentina government to expedite the process of signing FTA between Bangladesh and the MERCOSUR- the Southern Common Market comprising Brazil, Argentina, Paraguay and Uruguay.

The region is equipped with significant dynamic markets and they can source quality products from Bangladesh including processed food, pharmaceuticals, plastic, ceramic and RMG at competitive prices, he added.

He also invited the investors of Argentina to invest in the Economic Zones of Bangladesh.

Hugo Gobbi, the ambassador of the Argentina to India, Bangladesh, Nepal, Bhutan, Sri Lanka and Maldives suggested signing of a Preferential Trade Agreement (PTA) between Bangladesh and MERCOSUR as the FTA negotiations might take a long time whereas PTA takes a much shorter period.

Franco Agustín Senilliani Melchior, Head of Economic and Trade Section of the Embassy of the Argentine Republic in India said textiles is one of the major import items of Argentina which the country sources from other Asian countries. Bangladesh should also consider the country as a potential market for textile and plastic items.

Mariano Beheran, Agricultural attaché of the Embassy of the Argentine Republic in India cited that Argentina can provide agriculture technology and know-how support including seed technology to increase Bangladesh's capability in the sector. He also suggested that Bangladesh can import cotton, milk powder and garlic from Argentina.

Shabbir Ahmad Chowdhury, Secretary (West), Nayem Uddin Ahmed, Director General (Americas), Tarique Mahmud Pasha, Assistant Secretary (Americas) of Ministry of Foreign Affairs Bangladesh also joined the meeting.

They proposed collaboration in renewable energy between Bangladesh and Argentina.

Md Amin Helaly, vice-president of FBCCI, Abul Kasem Khan and Amzad Hussain, directors of FBCCI, Mohammad Mahfuzul Hoque, secretary-general of FBCCI were also present at the meeting.

Argentina considering opening embassy in Bangladesh

Argentina is planning on opening its embassy in Dhaka in order to strengthen economic and political relations with Bangladesh. Claudio Rozencwaig, the undersecretary of Foreign Policy of the Ministry of Foreign Affairs, International Trade and Worship of Argentina shared the information with...

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Bangladesh and Argentina today signed a Memorandum of Understanding (MOU) on the establishment of the "Bilateral Consultations" between the two countries.

The MoU would lay the platform for regular discussions between the two governments of Bangladesh and Argentina, said a foreign ministry press release here.

Argentine Undersecretary on Foreign Policy, International Trade and Worship Claudio Javier Rozencwaig and Bangladesh foreign ministry's Secretary (West) Shabbir Ahmad Chowdhury signed the MoU on behalf of their respected sides.

Foreign Secretary Masud Bin Momen and Argentine Ambassador to Bangladesh (resident in New Delhi, India) Hugo Gobbi witnessed the MoU signing ceremony.

Argentine Undersecretary is leading a four-member delegation on a three-day visit to Bangladesh.

The delegation also called on State Minister of Foreign Affairs Md. Shahriar Alam, MP at the latter's office today.

During the meeting, the Argentine Undersecretary handed over a Message of Felicitations from the Argentine Foreign Minister on the occasion of the 50th anniversary of diplomatic relations between Bangladesh and Argentina.

Alam recalled the movement in Argentina led by famous Argentine poet Victoria Ocampo during Bangladesh's Liberation War in 1971.

During the meeting, both sides agreed on the importance of further strengthening business and commercial ties between the two nations.

The state minister emphasized the importance of cooperation between the two countries in the field of agriculture.

The Undersecretary informed that Argentina is open to exporting soybeans, beef and fertilizer to Bangladesh.

But both sides acknowledged that the current worldwide crisis in the supply of fertilizer and energy might hamper agricultural production further.

The Argentine Undersecretary also called on the Foreign Secretary and they discussed the issues of mutual interest between the two friendly countries.

During the meeting, the Argentine Undersecretary informed that Argentina is actively considering opening its Diplomatic Mission in Dhaka.

Both sides agreed to organize a virtual meeting between the Foreign Ministers of Bangladesh and Argentina soon.

The Undersecretary also stressed the Business-to-Business relationship and expressed interest in an immediate exchange of business delegation between the two countries.

Bangladesh, Argentina sign MoU on bilateral consultation

Bangladesh and Argentina today signed a Memorandum of Understanding (MOU) on the establishment of the "Bilateral Consultations" between the two countries. The MoU would lay the platform for regular discussions between the two governments of Bangladesh and Argentina, said a foreign ministry press...

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[Isa Khan]

The Bangladesh Ambassador to Nepal Salahuddin Noman Chowdhury has said that the government is "positive" about investing in Nepal's Sunkoshi-3 Hydropower Project.

He made the remarks during a field observation of the proposed reservoir-based 683MW project site in Khadadevi Rural Municipality of Ramechhap, Nepal, on Friday, reports The Himalayan Times.

The Bangladesh envoy was accompanied by the Nepal Electricity Authority (NEA) Executive Director Kulman Ghising and officials of the Nepalese Energy Ministry.

Meanwhile, NEA Executive Director Ghising told the media that there had been frequent talks with the Bangladesh government from the Nepalese side to start work on the hydropower project.

"We've had talks with the Bangladesh government to start the project and we will soon have a team of technicians from the country here," he said.

"There were also talks to include India in the project. As big projects like Sunkoshi III have double benefits of tourism as well as hydropower, it's desirable that we complete such projects as soon as possible," Ghising added.

Addressing the occasion, Nepal's Electricity Development Department General Director Sanjeev Dev said that the study of the project by his department had reached the final phase.

As per the plan, the 683MW project will have its dam at Lubhughat in the Sunkoshi River on the confluence of Ramechhap and Kavre in Nepal. The dam will be 160m wide and 180m high.

Water from the dam will be channelled through 2.4m metre-long tunnels to the production house at Titretar of Temal Rural Municipality in Kavre, Nepal.

The power to be produced from the project will be linked to Nepal's national transmission line, The Himalayan Times added.

Bangladesh likely to invest in another Nepal hydropower project

Bangladesh plans to invest in another hydropower project in Nepal in a bid to boost its share of imported and clean energy. The 683MW project, Sunkoshi-III, will have its dam at Lubhughat in the Sunkoshi River on the confluence of Ramechhap and Kavre.

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Cambodian Prime Minister Hun Sen asked Bangladeshi investors to invest in the rice industry by building rice mills and importing rice from Cambodia.

Hun Sen made the offer to Foreign Minister Abdul Momen on 15 July during Momen's two-day visit to Cambodia, reports Cambodian media outlet The Phnom Penh Post.

During the meeting, Momen express his intension to increase cooperation with Cambodia in various sectors, especially commerce and food security in particular as a response to increasing food prices.

"Hun Sen requested that Momen urge Bangladeshi investors to invest in Cambodia by building rice mills and buying rice from Cambodian farmers and then storing, milling and exporting it to Bangladesh or by working with Cambodian farmers to implement agriculture cooperation projects based on contracts," said the prime minister's Facebook post.

Yong Kim Eng, president of the People's Centre for Development and Peace, said that trade relations between Cambodia and Bangladesh are not very strong currently, but support for each other on an international level could be of significant help in advancing the two countries' mutual interests.

Cambodian PM proposes investment in rice sector to Bangladesh FM

Cambodian Prime Minister Hun Sen asked Bangladeshi investors to invest in the rice industry by building rice mills and importing rice from Cambodia. Hun Sen made the offer to Foreign Minister Abdul Momen on 15 July during Momen's two-day visit to Cambodia, reports Cambodian media outlet The...

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[Isa Khan]

https://twitter.com/i/web/status/1549276702446350336

Bangladesh is one of Indonesia's important economic partners in the South Asian region.

This year, we celebrate the 50th anniversary of diplomatic relations between Indonesia and Bangladesh.

I am very pleased our relations have grown stronger throughout the years.

Today, Minister Momen and I discussed ways to boost our cooperation. Let us start with trade.

We are very pleased to see the encouraging trend in our trade relation.

Our trade last year surpassed pre-pandemic figures, reaching more than 3 billion USD.

January-May this year, bilateral trade increased by 30%.

To boost our trade volume, Indonesia and Bangladesh are working closely to conclude the negotiations on Preferential Trade Agreement.

We also agreed to expand our cooperation in strategic industries, transportation sector and halal industries.

On investment, we are committed to bring closer our state-owned enterprises and private sectors.

I also shared the interest of Indonesian companies to sustain and expand their presence in Bangladesh.

One of the companies, Pertamina Power Indonesia (PPI), is ready to support the power generation project in Bangladesh.

With your support, Excellency, we hope to finalize the Letter of Intent for this cooperation soon.

We also agreed to extend our cooperation in the energy sector.

On connectivity, we agreed to encourage closer contacts among our businesses and our people.

Colleagues from the media,

During the meeting, we also discussed the importance of building our health resilience to anticipate future pandemics.

In this regard, we are glad that the MoU on Health Cooperation has been agreed to and is ready to be signed.

Through this Mou, we will enhance our cooperation in primary and secondary health care, health technology, vaccines, and pharmaceutical industries.

Aside from economic cooperation, we also discussed approaches to strengthen defense and security cooperation.

We agreed to expand cooperation between PT Pindad and the Bangladesh Army.

We also welcomed the finalization of MoU on Defense Cooperation and the Agreement on Counter Terrorism Cooperation.

These two MoUs are expected to be signed within this year. Colleagues,

In addition to bilateral issues, we exchanged views on several regional and global issues.

On Afghanistan, we shared the same position: we wish to see a peaceful, stable, and prosperous Afghanistan and we understand the role of Ulamas are crucial in ensuring progress in Afghanistan.

In this context, I informed Minister Momen that Indonesia, Qatar, and Afghanistan has conducted a trilateral dialogue between Ulamas.

To share experiences and views on the manifestation of Islamic values in a diverse society.

As well as the importance of women's participation in the society.

Indonesian Ulamas' were also part of the OIC Ulamas visit to Kabul last month.

On Rohingya, we acknowledged that this long overdue issues still requires our utmost attention.

With the ongoing crisis in Myanmar, we understand that the situation becomes even more challenging.

Indonesia is committed to continue our assistance to Rohingyas people, and to help the Myanmar people as well.

So colleagues thank you very much, and may I now invite Minister Momen to share his views.

Press Statement He Retno L P Marsudi Minister For Foreign Affairs Republic Of Indonesia On The Visit Of He Ak Abdul Momen Mp Minister Of Foreign Affairs The Peoples Republic Of Bangladesh Jakarta 18 July 2022 | Portal Kementerian Luar Negeri Republik

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https://twitter.com/i/web/status/1548999692054175749

https://twitter.com/i/web/status/1549236066309132288

 

[Isa Khan]

Minister for Commerce, Trade, and Industry of Eswatini (former Swaziland), Senator Manqoba Khumalo, urged Bangladesh to strengthen business relations with his country.

"Bangladesh can reach the almost untapped market of Africa worth $1.3 billion by expanding business ties with Eswatini," he said at a discussion meeting with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka on Tuesday, reads a FBCCI press release.

Highlighting Tax and Duty-Free facilities and other incentives for foreign investors, Senator Manqoba said China and India are the two major exporters to Eswatini, while his government would like to see Bangladesh as another important trade and investment partner.

"Bangladesh may treat Eswatini as a potential market for exporting readymade garments, agro products, and ICT and electronic products in particular. We, an African country, are interested in joint ventures as well," he added.

Eswatini's funding and Bangladesh's experience could be applied in the pharmaceutical industry, biotechnology, contract farming and ICT, the Eswatini minister added.

With its strategic geographic location, Eswatini is a gateway to the African continent, Senator Manqoba added.

Earlier, FBCCI Senior Vice President and Acting President, Mostofa Azad Chowdhury Babu, proposed a Memorandum of Understanding (MoU) can be inked between FBCCI and its Eswatinian counterpart to bolster bilateral trade and investment.

The acting president proposed setting up an Eswatini High Commission in Dhaka as Bangladeshis currently have to process Eswatini visas from Malaysia.

Mostofa Azad also suggested arranging B2B meetings, webinars, and exchange of delegations to take bilateral trade to newer heights.

Earlier in the meeting, the potential for assembling electronic products and mutual tourism development were discussed.

Eswatini's undersecretary of Ministry of Commerce for Industry and Trade, Cebile Amanda Nhlabatsi, its MSME Director MlulekiSakhile Dlamini, Senior Executive Manager of Eswatini Investment Promotion Authority, Khanyisiie Dlamini, representatives from the Bangladeshi business community in Eswatini, Mohammed Asraful Alam Chowdhury, Badruzzaman Chowdhury, and Badral Alam Chowdhury, were present at the meeting.

Eswatini urges Bangladesh to strengthen business ties

FBCCI calls for setting up Eswatini High Commission in Dhaka to bolster bilateral trade and investment.

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Talks are in progress on the supply of Russian grains to Bangladesh and nearing completion, acting Russian Ambassador to Bangladesh Ekaterina A Semenova said on Wednesday.

"The talks are underway. Hopefully, it will be completed very soon. The amount is around 200,000 tonnes," Semenova told a discussion during a visit to The Business Standard offices.

"It is a G2G contract but private suppliers are also available. We have Russian companies approaching us to deliver grain supplies here.

"The harvest [in Russia] this year was exceptional. We will be able to supply abroad some 40 to 50 million tonnes of grains according to some estimates," she added.

Russia, the world's biggest wheat exporter, on 23 June signed a supply deal to export 3 lakh tonnes of wheat. Of the amount, 2 lakh tonnes were expected to arrive in two months and the rest 1 lakh tonnes in the next one month.

The Russian ambassador, however, mentioned some technical issues in the process, including the problem with the local banks opening letters of credit in favour of the Russian suppliers due to sanctions.

"It is surprising because agricultural commodities have been exempted from sanctions. So, there should be no fear of sanctions from the Western countries," Semenova said.

Russia wants to remain a reliable partner of Bangladesh to fulfil the country's grain requirements and to contribute to the country's food security through G2G contracts, and private suppliers, the acting ambassador said. "We are here and we won't let you down," she said.

About the payment channels through SWIFT, she said, "Only seven Russian banks have been barred from using this system. The rest are free to use it. There are certain apprehensions among Bangladeshi financial institutions. But, as I said, agricultural commodities have been exempted from the sanctions. So, there should be no problem issuing a letter of credit."

On the questions of supply disruption and the Russian role behind this, Semenova said, "The reason for these disruptions is the sanctions. For example, our Russian ships are not allowed to enter the ports, insurance is not granted for our ships and supplies. It is the sanctions. It is not like we are unwilling to supply. We are very much willing."

Asked how she sees the end of the war that has afflicted the entire world in some way or another, the Russian envoy said, "If they [West] want us to stop the conflict, then [they should] stop supplying weapons [to Ukraine]. Otherwise, it is not possible."

Semenova said the Ukrainian President Volodymyr Zelenskyy "withdrew from talks in Turkey, and virtual talks because he is not very independent. He takes instructions from his Western patrons from Brussels and Washington. As of now, we are open for talks, but we don't see any desire from the opposite side."

About the apprehension regarding the funding of the Rooppur Nuclear Power Plant project, she said, "There should be no apprehension on that. Everything will be done on schedule. Talks are underway between [Bangladesh's] finance minister and our finance ministry. So, any technical problems will be settled.

"It is a major project [for us]. We won't do anything to jeopardise the schedule of implementation. We are expecting one of the major landmarks later this year. The pressure vessel for the second reactor will be installed sometime this September or October."

About the current energy crisis in Bangladesh and the prospect of Russian oil, the ambassador said the question of oil is "more controversial than grains. Otherwise, we are ready to strengthen cooperation."

She said, "India has augmented its supplies of Russian oil multi-fold…We are open now, we're ready to help [Bangladesh] because we want our friends to be safe in terms of food and energy security.

"Our major natural gas company Gazprom is already here. They have been operational here for more than ten years. They have been exploring and drilling wells. Recently, a memorandum of understanding was signed on drilling wells on Bhola Island. It has great potential in terms of gas reserves. I think that some prospects on oil supplies are also here and we should work on that."

Semenova praised the complicated rope that Bangladesh rides on balancing between the West and Russia regarding the Ukrainian crisis. "We are very much grateful to Bangladesh for the balanced position it took at the UN when the country abstained from voting on the Russian resolution. It is a very courageous position given all the pressure that is imposed on Bangladesh from the West," she said.

"This balanced position is what we value the most. Recently your prime minister made a strong comment on the sanctions…We are grateful for this strong and articulated support. I think now everybody can agree that sanctions are not influencing Russia in terms of ending the conflict. It is not the way," she added.

The ambassador said she sees bright prospects for trade between Bangladesh and Russia in future. "There are a number of opportunities in terms of augmenting the supplies of grains, mangoes, and potatoes from here. We have this prospect for oil and gas supplies. We are also willing to explore some opportunities in the energy and power sector. We have several projects on the table and we are very much optimistic about our future."

Acting Ambassador Semenova also praised Bangladesh's self-reliance on pharmaceuticals. It is a promising area besides RMG and agri products, she said.

"We can only envy you on this [pharmaceuticals]. For us, it is much less. So, we are willing to import medicines from Bangladesh."

The ambassador mentioned that the interest among Russian companies is growing towards Bangladesh.

"The opportunities are coming from here and Russian companies are more and more interested in coming here. In the coming years, we will see more new projects and new Russian companies present here," Semenova said.

The Business Standard Editor Inam Ahmed, Executive Editor Sharier Khan, Managing Editor Chowdhury Khaled Masood, Deputy Editor Mubin S Khan were present during the discussion.

Russian grain supplies to Bangladesh soon: Envoy Semenova

Talks are in progress on the supply of Russian grains to Bangladesh and nearing completion, acting Russian Ambassador to Bangladesh Ekaterina A Semenova said on Wednesday. "The talks are underway. Hopefully, it will be completed very soon. The amount is around 200,000 tonnes," Semenova told a...

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[Isa Khan]

The Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) is keen to develop trade relations with Brazil - the largest economy in Latin America.

As a part of this initiative, FBCCI has signed two Memoranda of Understanding with the Rio de Janeiro Chamber of Commerce and Industry and the Sao Paulo Chamber of Commerce; two of the country's most influential trade organizations.

Federation chief Jashim Uddin on behalf FBCCI signed the MoU during the visit to Brazil as entourage of State Minister for Foreign Affairs Shahriar Alam.

The signing between Rio de Janeiro Chamber of Commerce and Industry and FBCCI took place in Rio de Janeiro, the second Capital of Brazil on July 20 and Sao Paulo Chamber of Commerce inked the MoU in Sao Paulo-the port city of the Country on July 21.

The state minister Shahriar Alam and Bangladesh Ambassador to Brazil Sadia Faizunnesa and the President of Brazil Bangladesh Chamber of Commerce Shahriar Ahmed also witnessed the MoU signing ceremonies.

Earlier, FBCCI President Jashim Uddin has had meetings with Apex Brazil- Country's Trade and Investment Development Agency and the main industry representative organization National Industry Confederation (CNI). Issues related to bilateral trade and investment potentials, challenges, and the way forward were discussed in these meetings.

FBCCI President expected the visit will facilitate exchange of delegations in future and bolster bilateral trade relations.

"Bangladesh now needs to explore and expand new markets; diversification of export basket and new sources for import have become essential. Therefore, establishing trade ties with Brazil, the 10th largest economy of the world will add new dimensions to Bangladesh's export earnings, as well as help expand its footstep in other countries of South America", he added.

Bangladesh delegation led by State Minister for Foreign Affairs Md Shahriar Alam left Dhaka for Brazil last Sunday.

FBCCI to enhance trade ties with Brazil, two MoU inked

The Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) is keen to develop trade relations with Brazil - the largest economy in Latin America. As a part of this initiative, FBCCI has signed two Memoranda of Understanding with the Rio de Janeiro Chamber of Commerce and Industry and...

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