Bangladesh News Bangladesh Foreign Affairs

[Isa Khan]

Bangladesh government has allocated 300 acres of land for Saudi companies in Bangabandhu EPZ.

Saudi Ambassador in Dhaka said this while addressing a function organised to observe the 92nd National Day of Saudi Arabia.

Referring to the growing economic ties between the two countries he said that a number of Saudi companies are lined up to invest in several mega projects in Bangladesh.

Over the years, the cooperation between the two countries has been consolidated through investment, trade programmes, education, culture, aid and defence sectors, he said.

Bangladesh was the first country to join the Islamic alliance in the fight against terrorism, he said adding that it resulted from the collaborative efforts and policies of the leaders of the two countries.

The Saudi envoy noted that the people of Saudi Arabia are extremely appreciative of the enormous contribution made by Bangladeshi labour to the kingdom's growth.

He also felt that around 2.6 million greatly contribute to the expansion of Bangladesh's economy through the massive amount of remittance they send home with the assistance of the Saudi embassy and with the support of conservative and traditional government facilities.

He said that he had initiated a drive to simplify visa issuing procedures in his embassy for Bangladeshis and now the Embassy is processing more than 4000 visas.

He also mentioned that the process for performing Hajj in Saudi Arabia has been simplified this year with the presence of Saudi immigration officials in Dhaka.

I'm happy to let you know that Saudi Arabia was the first nation to implement a biometric system using a way to gather medical fingerprints.

He also mentioned that Saudi Arabia was one of the top donors to humanitarian cause’s across the world including Bangladesh.

Bangladesh allocates 300 acres of land for Saudi companies in EPZ

Bangladesh government has allocated 300 acres of land for Saudi companies in Bangabandhu EPZ. Saudi Ambassador in Dhaka said this while addressing a function organised to observe the 92nd National Day of Saudi Arabia. Referring to the growing economic ties between the two countries he said that a

thefinancialexpress.com.bd

Russia wants Bangladesh to repay in ruble the loans taken for building Rooppur nuclear power plant, sources say, as Moscow introduces its currency as an alternative to the US dollar to skirt western sanctions.

However, Bangladesh wouldn't like to pay back the debts in the Russian currency due to complex procedures and conversion-risk factors, officials said Monday.

Bangladesh government has halted loan repayment to Russia following the sanctions imposed by the United States and European Union over the Russian war against Ukraine.

"Bangladesh had been repaying the loans on the disbursed amounts since FY2017. But it has suspended the repayment since July 2021. To date, two installments have not been paid. Now the third installment has also been due," says a senior Ministry of Finance (MoF) official.

Recently, Moscow called Dhaka for repaying the loans in ruble as they had already disbursed the amount for Bangladesh's Rooppur nuclear power-plant (RNPP) project, he adds.

Bangladesh repays outstanding loans to Russia on a half-yearly basis. Two installments for July-December 2021 and January-June period in 2022 calendar year were not paid.

Another installment is knocking at the door as its deadline will expire in December this calendar year, according to the MoF official.

Russia in November 2015 confirmed US$491.31 million worth of loan for the preparatory works of the power plant. The entire amount has already been disbursed to Dhaka.

Official data with ERD showed Bangladesh had repaid the lion's share of the loan with interest and principal for this tranche of the borrowings for the country's maiden nuclear-power plant.

The interest on the loan was charged at LIBOR plus 1.0-3.0 per cent, payable in 10 years with a grace period of 5 years.

According to the Economic Relations Division (ERD), Moscow later in July 2016 confirmed another US$11.38 billion in loans for Bangladesh to construct the 2400-megawatt nuclear plant at Rooppur in Pabna.

Out of the $11.38 billion, Russia till last fiscal year (FY 2021-22) had released $3.28 billion for funding the power plant.

"For the $11.38-billion loan, we have already started payment of the principal amount only against the disbursed amount as the grace period will end in FY2026. Then both the principal and interest will have to be repaid at an interest rate of LIBOR plus 1.75 per cent," says a senior ERD official.

When asked, a science and technology ministry official said since the global payment system with Russia is suspended due to the Ukraine war, Bangladesh is not being able to repay the loans over the years.

"We are scrutinising the Russian proposal for paying back their loans in ruble. But since Bangladesh has not adequate Russian currency in reserve, it will be difficult for us. If we go for buying ruble from the open market, then we have to purchase through USD, which is not possible at this moment due to conversion risks," he notes about the current currency conundrum facing the entire world.

"Now we are discussing with our counterpart Russian lender any further possible available mechanism for the repayment of the outstanding loans," the ministry official says.

Another MoF official said: "Like other countries, Bangladesh has also been struggling with dollar crisis amid shrinking foreign-exchange reserves. So, it is not possible at this moment to go for purchasing ruble to repay the Russian loan."

Seven months ago in February 2022, Russia evaded Ukraine in a 'special operation' reportedly to forestall NATO expansion. In retaliation the US and the EU sanctioned Russia.

Major Russian banks have been removed from the international financial messaging system Swift, which delays payments to Russia for its oil and gas exports and for repayment of its investments against different projects across the globe.

The US has barred Russia from making debt payments using the $600million it holds in US banks, making it harder for Russia to repay its international loans.

Russia's central bank assets have been frozen, to stop it using the $630 billion (£470 billion) of reserves it has in foreign currencies.

The western measures prompted Russia as well as its ally China to try to push their currencies-ruble and RMB-as alternative international trading currencies and also go for currency swaps with trading partners.

Russia wants BD to pay in ruble

Russia wants Bangladesh to repay in ruble the loans taken for building Rooppur nuclear power plant, sources say, as Moscow introduces its currency as an alternative to the US dollar to skirt western sanctions. However, Bangladesh wouldn't like to pay back the debts in the Russian currency due to

thefinancialexpress.com.bd

Saif Powertec Limited is set to launch the country's first direct cargo ship on Chattogram-Dubai route.

To this effect, an agreement was signed on Sunday (25 September) between Saif Powertec's subsidiary Saif Maritime LLC, a registered company in Dubai, and Abu Dhabi Port Group's Safeen Feeder.

As per the agreement, Saif Maritime will use three container feeder vessels of Safeen Feeder for 15 years.

Tarafder Md Ruhul Amin, managing director of Saif Powertech, said through this agreement, the transport time of import-export containers will come down to 18-20 days from 45 days.

"These three ships can transport 10,000 containers per month. Besides, the ships will directly land containers in Bangladesh, saving the transportation cost by $150-$200 per container," he told TBS.

The three ships carrying containers are scheduled to arrive at Chattogram Port in December, he added.

According to Saif Powertec, the company will earn Tk200 crore and profit Tk25 crore per ship by transporting containers.

Earlier, Saif Powertec launched bulk carriers on the said route. There are currently three bulk carriers running and five more in March next year.

Saif Powertec to launch Chattogram-UAE direct cargo ship

Saif Powertec Limited is set to launch the country's first direct cargo ship on Chattogram-Dubai route. To this effect, an agreement was signed on Sunday (25 September) between Saif Powertec's subsidiary Saif Maritime LLC, a registered company in Dubai, and Abu Dhabi Port Group's Safeen Feeder...

www.tbsnews.net

 

[Isa Khan]

https://twitter.com/i/web/status/1577560701107056641

This was discussed after an army delegation from Bangladesh led by Senior Instructor Colonel MD Syeedur Rahman visited the headquarters of the Philippine Army (PA) in Fort Bonifacio, Taguig City on Tuesday, Oct. 4.

Maj. Gen. Roberto Capulong, PA Chief of Staff, hosted Rahman and the Bangladesh delegation for a study tour. The visitors were briefed on the key accomplishments of the 125-year-old PA, including its transformational roadmap towards becoming a “future-ready, world-class organization.”

Capulong and Rahman also discussed the imperatives of hurdling the rigors of Command and General Staff Course (CGSC), a specialized training that hones future generals and capacitates student-officers in handling positions with greater responsibilities.

Rahman is currently enrolled in the CGSC offered by the Bangladesh Defense Services Command and Staff College.

“Capulong thanked Colonel Rahman and the Bangladeshi delegation for visiting the Headquarters Philippine Army, adding that he looks forward to more collaborative engagements that will benefit both PA and the Bangladesh Army,” said PA spokesperson Col. Xerxes Trinidad.

The PA is fostering a stronger bilateral relationship with Bangladesh through the establishment of possible areas of cooperation in training and education.

Last June 1, Bangladesh’s non-resident attaché Commodore Mostaque Ahmed rendered a courtesy call on Lt. Gen. Romeo Brawner Jr., PA Commanding General.

The officials discussed the finalization of a memorandum of understanding on defense cooperation and the forging of an Army-to-Army terms of reference that will be the groundwork for further cooperation between the two armies.

PH, Bangladesh armies seek stronger ties

mb.com.ph

Dhaka expects some memorandums of understanding (MoUs) especially on labour recruitment, direct air service, and energy cooperation to be signed during Brunei Darussalam Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah's maiden visit to Bangladesh slated for 14-16 October, a foreign ministry official told TBS on condition of anonymity.

The Brunei Sultan's visit carries special significance as the two countries are planning to sign a number of bilateral cooperation documents during the visit, said Bangladesh High Commissioner to Brunei Darussalam Nahida Rahman Shumona as she talked to the news agency UNB.

The Sultan will hold meetings with President Md Abdul Hamid and Prime Minister Sheikh Hasina and join some programmes during the visit.

In mid-2019, Prime Minister Sheikh Hasina made a historic visit to Brunei Darussalam, which further strengthened diplomatic ties between the two friendly countries.

The two countries held their second foreign office consultations in Bandar Seri Begawan in Brunei on 31 August this year, with Bangladesh Foreign Secretary Masud Bin Momen and Brunei Darussalam Permanent Secretary Pengiran Norhashimah binti Pengiran Mohd Hassan in the chair.

Expressing optimism about signing the proposed agreements on the recruitment of Bangladeshi human resources by Brunei at the earliest, Masud Bin Momen underscored the need for safe, orderly and regular migration.

Flagging the high demographic dividend Bangladesh is currently enjoying, the foreign secretary offered Brunei to take more Bangladeshi workers for mutual benefits. The Brunei side expressed their keenness for recruiting Bangladeshi workers for their upcoming mega projects.

The issue of energy cooperation is also featured in the bilateral discussions in the context of the severe supply chain disruptions owing to the volatility and uncertainties caused by the pandemic and conflicts in different parts of the world.

Both sides agreed to further explore the potentials for cooperation in the areas of food processing, ICT, shipbuilding, tourism, infrastructure development, pharmaceuticals and jute products etc. Bangladesh sought Bruneian support for developing and promoting the Halal trade sector of Bangladesh.

The two sides also stressed the importance of facilitating air and shipping connectivity for giving bilateral trade, investment and people-to-people contact a boost.

Brunei Sultan’s Dhaka visit: MoUs on labour export, air connectivity, energy expected

Brunei Darussalam Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah will be visiting Bangladesh for the first time from 14 to 16 October

www.tbsnews.net

 

[Isa Khan]

https://twitter.com/i/web/status/1578032883884646400

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[Isa Khan]

https://twitter.com/i/web/status/1579080498969980929

https://twitter.com/i/web/status/1578409795681673216

 

[Isa Khan]

https://twitter.com/i/web/status/1580824867837837313

Estonia has shown its keen interest to import Bangladesh-made pharmaceuticals and ocean-going ships.

The proposal was unfolded when Bangladesh ambassador to Estonia Allama Siddiki called on Estonian foreign minister Urmas Reinsalu in Estonian capital Tallinn on Friday, said a press release received here today.

The Bangladesh envoy assured that Dhaka is ready to export pharmaceuticals and ships to Estonia as the eastern European country's demand.

Siddiki apprised the minister that currently there is a global demand for Bangladesh-made pharmaceuticals and ocean-going ships for their world standard high quality.

The ambassador also sought Estonian assistance in the Information Technology (IT) sector to help Bangladesh in its ICT advancement under the current government's flagship campaign of "Digital Bangladesh".

Besides, the envoy urged Estonian government's support for commencing repatriation of forcefully displaced Rohingyas from Bangladesh to their home country Myanmar.

The Estonian foreign minister assured that his country would always be beside Bangladesh in terms of Rohingya repatriation.

Dhaka and Tallinn expressed their commitment to arrange regular diplomatic dialogues between Bangladesh and Estonia.

Estonia keen to import Bangladeshi pharmaceuticals, ships

Estonia has shown its keen interest to import Bangladesh-made pharmaceuticals and ocean-going ships. The proposal was unfolded when Bangladesh ambassador to Estonia Allama Siddiki called on Estonian foreign minister Urmas Reinsalu in Estonian capital Tallinn on Friday, said a press release...

www.tbsnews.net

 

[Isa Khan]

Bangladesh and Brunei Darussalam on Sunday signed four instruments on cooperation in the areas of energy, aviation, manpower recruitment and recognition of certificates for two countries' seafarers to take their bilateral relations to a new height.

Of the instruments, one is agreement and three are memorandums of understanding.

The documents were signed after the fruitful bilateral talks between the delegations of Bangladesh and Brunei Darussalam at the Prime Minister’s Office in Dhaka.

Prime Minister Sheikh Hasina led the Bangladesh delegation at the talks, while the Brunei Darussalam delegation was led by visiting Brunei Darussalam Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah.

The lone agreement is related to the air services while the memorandum of understandings are on employment and recruitment of Bangladeshi workers, cooperation in the supply of LNG and other petroleum products, and recognition of certificate issued under the provision of the International Convention on Standards of training, certification and watch-keeping for seafarers.

Prime Minister Sheikh Hasina and Brunei Darussalam Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah witnessed the signing ceremony.

Bangladesh state minister for civil aviation and tourism Md Mahbub Ali and Brunei minister at the Prime Minister’s Office and minister of finance and economy Amin Abdullah signed the agreement on air services.

Besides, expatriates’ welfare and overseas employment minister Imran Ahmad and minister of home affairs Ahmaddin Bin Haji Abdur Rahman put pen on the MoU on the Employment and Recruitment of Bangladeshi Workers.

State minister for power, energy and mineral resources Nasrul Hamid and Brunei minister at the Prime Minister’s Office and minister of finance and economy Amin Abdullah signed the MoU in the field of cooperation in the supply of LNG and other petroleum products.

On the other hand, state minister for shipping Khaled Mahmud Chowdhury and Brunei minister at the Prime Minister’s Office and minister of finance and economy Amin Abdullah inked the MoU on the recognition of certificate issued under the provision of the International Convention on Standards of training, certification and watch-keeping for seafarers.

Bangladesh, Brunei ink one agreement, 3 MoUs

Bangladesh and Brunei Darussalam on Sunday signed four instruments on cooperation in the areas of energy, aviation, manpower recruitment and recognition of certificates for two countries' seafarers to take their bilateral relations to a new height....

www.newagebd.net

 

[Isa Khan]

Nepalese Ambassador to Bangladesh Ghanshyam Bhandari today (October 25, 2022) said Nepal will provide 40-50 megawatt electricity to Bangladesh at this moment and the volume would increase further after the completion of a mega project in their power sector.

The envoy said this as he called on Prime Minister Sheikh Hasina at her Gono Bhaban, this morning.

Prime Minister's Press Secretary Ihsanul Karim briefed the reporters after the call on.

"After completion of that project Nepal will be able to provide more electricity to Bangladesh," Ihsanul quoted the Nepalese ambassador as saying.

Bhandari expressed his country's keen interest to use Banglabandha Port for their export purposes as Nepal is nearer to this port than Burimari Port.

He also said his country wants to boost bilateral relations and economic cooperation further.

Appreciating the cooperation of Bangladesh in the education sector, the Nepalese envoy said a good number of Nepalese students have been studying here in the country for higher studies.

PM Sheikh Hasina congratulated the newly appointed ambassador and assured of him all-out cooperation during his stay in Bangladesh.

She recalled Nepal's support to Bangladesh during its War of Liberation in 1971 with arms and ammunition to the Freedom Fighters which, she said, was very much important for the country.

Sheikh Hasina emphasised the connectivity among the countries in the region, especially Bangladesh, Nepal, Bhutan and India.

She also laid importance on strengthening trade and commerce between Bangladesh and Nepal.

Sheikh Hasina recalled the recent visit of the Nepalese president to Bangladesh during the "Mujib Borsho" programme which added impetus to the bilateral relations between the two countries.

She requested the envoy to convey her greetings to the Nepalese president and the PM.

Nepal to provide around 50MW electricity to Bangladesh: Envoy

Nepalese Ambassador to Bangladesh Ghanshyam Bhandari today (October 25, 2022) said Nepal will provide 40-50 megawatt electricity to Bangladesh at this moment and the volume would increase further after the completion of a mega project in their power sector.

www.thedailystar.net

Vietnamese airline company VietJet Air is going to start direct flights to Vietnam with Bangladesh through the launch of flights on the Hanoi-Dhaka-Hanoi route in December this year.

Initially, the operation will start with chartered flights, but there is a plan to start regular flights in phases based on passenger demand, said Tasnim Amin Shovon, director and CEO of Inoglobe Travel and Tours Limited, the Bangladeshi partner of Victoria Tour, at an event in the capital on Monday.

Apart from this, Vietnam's tour operator company Victoria Tour has also announced various travel packages including visa processing at an affordable cost for Bangladeshi tourists.

"It takes a lot of time and money to travel from Bangladesh to Vietnam as the flights go via a third country. If direct flights are launched, it will be economical in all aspects," he added.

He also said that there is a great opportunity for the two countries to work together for the development of the tourism and aviation industry. If the direct flight starts, it will serve as a bridge between the people of the two countries as well as expand the trade between Bangladesh and Vietnam.

Victoria Tour Managing Director Nong Van Chien Victor was the special guest at the event. Among others, leading tourism entrepreneurs and professionals of the country were present at the event.

Direct flights with Vietnam may begin in December

Vietnamese airline company VietJet Air is going to start direct flights to Vietnam with Bangladesh through the launch of flights on the Hanoi-Dhaka-Hanoi route in December this year. Initially, the operation will start with chartered flights, but there is a plan to start regular flights in...

www.tbsnews.net

 

[Isa Khan]

With the completion of the Payra Channel the riverways can be extended to North Bengal, Assam and Bhutan, said Prime Minister Sheikh Hasina.

"We have taken up the work of capital dredging for the Payra port, which is the largest dredging work in the country," she said while inaugurating and laying the foundation stones of several development schemes at Payra Seaport on Thursday.

After the dredging work is completed a 75km long 100-125m wide channel will be created, said the prime minister.

The capital dredging channel will cost an estimated amount of Tk4,950 crore while Belgium based dredging company Jan De Nul will carry out the dredging work.

"Regular dredging work must be done to keep the waterways navigable. With the completion of the Payra channel the river ways can be extended to North Bengal, Assam and Bhutan," said Sheikh Hasina.

She also said, when the development works of the Payra Port is completed, ships with the capacity of 3,000teu or 40,000-50,000 tonnes will be able to anchor at the port.

The work of the first terminal of the port has advanced substantially, said the prime minister.

She said that, three ships with the capacity of 200metres each will be able to anchor at the 650m terminal. At the same time the port will be able to handle containerised cargo and bulk cargo, which will facilitate trade.

With the completion of the connectivity works of the Payra Port connection with the international trade corridor will be strengthened and neighbouring countries including India, Bhutan and Nepal will be benefitted.

The Prime Minister inaugurated the Payra Seaport on 19 November 2013 and so far, 236 sea-going ships have arrived at the port, through which about Taka 548 crore revenue has been earned.

Sheikh Hasina also said, "Payra port is the first project which is being developed with money taken from the Bangladesh Infrastructure Development Fund. In future also, we will use money from our reserve for various infrastructural projects.

"We have loaned the money to the Payra port at a very minimum service charge. Many might question why the reserve is being used, we are not amassing the reserve rather using it for the people, for buying food, for buying fertilizer."

Eight ships, six lane connecting road, foundation stone of a bridge over Andharmanik River were inaugurated Thursday by the prime minister.

Seven out of the eight ships have been built in Bangladesh. These ships will handle foreign ships at the port and will do maintenance work of the channel. So, foreign currency earnings will increase.

River routes can be extended to Bhutan with completion of Payra Channel: PM

With the completion of the Payra Channel the riverways can be extended to North Bengal, Assam and Bhutan, said Prime Minister Sheikh Hasina. "We have taken up the work of capital dredging for the Payra port, which is the largest dredging work in the country," she said while inaugurating and...

www.tbsnews.net

https://twitter.com/i/web/status/1585175022276153344

 

[Isa Khan]

Even though the country is hungry for foreign investment, the proposals of some top Saudi Arabian companies to invest around $30 billion in various sectors in Bangladesh over the past six-seven years have gone nowhere.

Only one project that has made some progress after a long gap is a cement factory in Chhatak, Sunamganj with an investment of $600 million. Currently, tender evaluation work is going on for the project.

But, uncertainties are still there because there are instances of factories set up with Saudi investment not going into production eventually.

The apparent failure to implement the proposed Saudi investments is attributed to differences of opinion between government agencies in Bangladesh and the Saudi firms concerned as well as a lack of cooperation from Bangladeshi bureaucrats, sources at Bida and other government agencies say.

The government agencies frequently delay project decisions for unexplained reasons, thus denying the country the benefits of the Saudi investments, they add.

Officials of various government bodies including the Bangladesh Investment Development Authority (Bida) also supported this claim.

Bida Executive Member Mohsina Yasmin told The Business Standard, "The Saudi investment proposals are joint-venture investment proposals between government agencies and Saudi Arabian companies. This takes time."

Golam Moshi, former Bangladesh ambassador to Saudi Arabia, said although Saudi companies have been showing increasing interest in investing in the country since 2016, many companies have already lost the interest "due to the non-cooperation of government agencies".

Against this backdrop the 14th meeting of the Bangladesh-Saudi Arabia Joint Commission (JC) is going to be held in Riyadh on 30-31 October.

At the meeting Bangladesh will request Saudi Arabia to speed up the process of implementing investment projects in the greater interest of the two counties, sources said.

The previous JEC meeting between Bangladesh and Saudi Arabia was held on 12-13 February 2020 in Dhaka.

What happened to various Saudi investment proposals?

ACWA Power, one of the largest power companies in Saudi Arabia, on 17 October 2019 expressed interest to invest $2.5 billion in Bangladesh to build a gas-run plant capable of generating 3,600MW of electricity.

The company signed a memorandum of understanding (MoU) with the Bangladesh Power Development Board (BPDB) for the development of a natural gas/ R-LNG-based combined cycle power plant.

But because of a scarcity of natural gas, Bangladesh wanted to go for a solar or wind-based power plant.

At one point, the Saudi company agreed to invest in renewable energy and proposed to set up the plant in the char areas of Barisal.

Again, the power development board objected to this proposal as there was no power transmission line in the proposed site. At the same time, the board offered ACWA Power to set up a renewable power plant at Rampal in Bagerhat.

But no response has been received from the Saudi company yet.

Mohammad Nazmul Abedin, joint secretary of the Power Division, ‍said it has been three years since the signing of the MoU but the project has made no progress because of slow responses from both sides.

For similar reasons, Saudi company alfanar has backtracked on its decision to invest in a 100MW solar power plant in Bangladesh, according to Bida sources.

Meanwhile, sources with the industries ministry told TBS that a Saudi company, Engineering Dimensions, set up an electrical item manufacturing plant, General Electric Manufacturing Co. Ltd (Gemco), on its own land in Chattogram three years ago, but could not go into production yet.

The industries ministry had assured the company of providing a DPM (direct procurement method) facility – meaning, the company can sell its products directly to the Power Development Board without participating in tenders.

But the ministry later decided not to grant the DPM facility to the company as Engineering Dimensions formed a separate company to go into production itself although, as per the agreement, the company was supposed to set up a transformer and other electrical equipment manufacturing plant in a joint-venture with Gemco, said officials of the industries ministry.

Now the ministry has offered Engineering Dimensions to sign a new deal.

The Saudi company promised to invest $35 million in this sector. Later, this investment was to be increased to $80 million.

Fertiliser plant sees no progress either

Also, no progress has been made on an investment proposal to set up a di-ammonium phosphate (DAP) plant.

Hanwah Saudi Arabia Limited had signed an MOU with the Bangladesh Chemical Industries Corporation (BCIC) to set up a DAP plant either in Morocco or the Kingdom of Saudi Arabia with an investment of $700-900 million.

The Saudi company does not want to build the factory in Bangladesh because 90% of the raw material and fuel for the production of DAP have to be imported from abroad.

On the other hand, the BCIC wants this factory to be set up in Bangladesh.

As a result, this investment proposal has not made progress.

Saudi Aramco loses interest as well

Meanwhile, Saudi company Aramco expressed keenness to invest around $15-20 billion in a number of sectors including petrochemical, installation of the second unit of Eastern Refinery, and LNG terminal, but Bangladesh could not retain the company finally, even though officials of the company visited Bangladesh three times.

A Saudi firm, Red Sea Gateway Terminal, has promised to invest $1.5 billion for the development of the Chattogram seaport and the construction of a bay container terminal under a private-public partnership (PPP).

State Minister for Shipping Khalid Mahmud Chowdhury held a meeting with the Red Sea Gateway Terminal authorities during his visit to Saudi Arabia earlier this month. In the meeting, the Saudi company reiterated its proposal to invest in Bangladesh.

Besides, proposals to set up a 100MW solar power plant at North Bengal Sugar Mill, Al-Jomaih Group's 300MW solar power plant projects in Gaibandha and Dinajpur are also pending for a long time.

The only exception

Finally, the process of setting up a clinker-cement plant under the Saudi-Bangladesh joint investment at Chhatak in Sunamganj has gained momentum after the Covid-19 pandemic delayed the process of the project, officials said.

The investment has been revised to $600 million as of now with Engineering Dimensions International Investment owning a 60% stake in the plant and the BCIC owning the remaining 40%.

The BCIC on 30 June 2020 entered a joint venture agreement with the Saudi firm to set up the plant with a production capacity of 15,000 tonnes of clinker-cement per day.

If everything goes as per plan, the cement manufacturing unit will be built on more than 160 acres of land next to the existing state-run Chhatak Cement Factory, sources said.

A senior BCIC official told TBS that a company was formed in June 2021 in this regard and now tender evaluation work is going on.

The project will meet the demand of the clinker-based cement factories in Bangladesh by supplying four million tonnes of clinker per annum against the country's import of 19 million tonnes per annum and save $225 million in foreign exchange annually.

A MoU was signed to set up a cement and clinker manufacturing factory in Chhatak, Sunamganj during Prime Minister Sheikh Hasina's visit to the Kingdom of Saudi Arabia in October 2018.

Currently, the Saudi Arabian Public Investment Fund (PIF) has assets to the tune of $600 billion. The country has formed this fund for investment across the globe.

In 2016 during the Bangladesh premier's visit to Saudi Arabia, the PIF authorities expressed interest in investing in Bangladesh.

Why $30b Saudi investments see little progress

The 14th meeting of the Bangladesh-Saudi Arabia Joint Commission is slated for 30-31 October in Riyadh

www.tbsnews.net

 

[Isa Khan]

The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) and the Federation of Saudi Chambers of Commerce have signed a memorandum of understanding (MoU) at the 14th meeting of the Bangladesh-Saudi Arabia Joint Commission to form a joint business council aiming to boost trade between the two countries.

FBCCI Vice President Habib Ullah Dawn and Saudi Chambers Vice President Tariq al-Haidari signed the MoU on behalf of their respective organisations.

Besides, the shipping ministry of Bangladesh and the transport ministry of Saudi Arabia signed an MoU to increase cooperation in different areas including recruiting and training the two countries' ship workers.

Bangladesh Ambassador to Saudi Arabia Mohammad Javed Patwari and Saudi Arabia's Maritime Transport Deputy Abdul Rahman M Al-Thunayan on behalf of their respective countries.

In the meeting held on 30-31 October, Saudi Arabia and Bangladesh agreed to form a task force to increase coopereation in the energy sector.

The Saudi government has assured Bangladesh of assistance when Bangladesh requested Saudi Arabia to increase LNG supply on an emergency basis and invest in the Eastern Refinery Unit-2 project.

The two countries also reached an understanding regarding the signing of an agreement to recruit Bangladeshi healthcare professionals in Saudi Arabia.

The countries also reached an understanding regarding increasing cooperation in all aspects of science and education.

Economic Relations Division Secretary Sharifa Khan, who led the Bangladesh delegation in the meeting, expressed her hope that Saudi Crown Prince Mohammed Bin Salman will visit Bangladesh at the beginning of the next year, playing a unique role in improving the relationship between the two countries.

Bangladesh, Saudi Arabia sign MoU to form joint business council

The shipping ministry of Bangladesh and the transport ministry of Saudi Arabia signed an MoU to increase cooperation in recruiting and training the two countries’ ship workers

www.tbsnews.net

State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said that Bangladesh wants to import petroleum from Saudi Arabia at a relatively lower price.

He conveyed such interest when Saudi Arabia's Ambassador to Bangladesh Issa Bin Youssef Al-Dahilan met him at his office in the ministry on Thursday.

“We are also interested in purchasing the fuel on deferred payment,” he told the Saudi envoy.

During the meeting they discussed various issues related to mutual interest and also possible solutions to the energy crisis in Bangladesh, reports UNB.

Welcoming the Saudi ambassador he said Bangladesh wants to strengthen trade relations with the brotherly nation.

The Saudi ambassador said that the interest of Saudi companies in investing in power and energy sector in Bangladesh is growing.

ACWA Power Company of Saudi Arabia is moving ahead with a plan to invest $1.5 billion in Bangladesh, he mentioned.

Bangladesh wants to import petroleum from Saudi Arabia at lower price

State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said that Bangladesh wants to import petroleum from Saudi Arabia at a relatively lower price. He conveyed such interest when Saudi Arabia's Ambassador to Bangladesh Issa Bin Youssef Al-Dahilan met him at his office in the mini

thefinancialexpress.com.bd

A Memorandum of Understanding (MoU) was signed between Bangladesh and the United Arab Emirates (UAE) in a bid to implement "e-Visa/e/-TA" in the capital yesterday (October 18, 2022).

Secretary of the Security Services Division under Home Ministry Md Abdullah Al Masud Chowdhury and UAE Ambassador to Bangladesh Abdulla Ali Abdullah Khaseif Al Hamoudi signed the MoU on behalf of the respective countries with Home Minister Asaduzzaman Khan in the chair at a programme at the conference room of the ministry.

Minister Asaduzzaman said the initiative to implement e-Visa/e/-TA system on the basis of G2G was taken through the MoU signing.

Terming the MoU as a big achievement in the bilateral relations of the countries, he said the day (MoU signing day) will be marked as a milestone for Bangladesh and the UAE in digitalisation of the country's e-visa system.

Describing UAE as a tested-friend, he said Bangladeshi workers have been playing an important role in the development of both countries over the time.

The minister said that UAE is one of the main investment partners of Bangladesh and mutual respect and significant cooperation between the countries is the historic base of bilateral relations.

He said the implementation of e-visa is one the significant pledges of Prime Minister Sheikh Hasina to digitalise the country as the current government has underscored on the use of digital technology.

Asaduzzaman said the security services division will be able to provide online visa service once the e-visa system is implemented.

He hoped that number of foreign tourists and investment will be boosted to a great extent after the e-visa is launched in the country.

The minister thanked the UAE government for their support in this regard.

Bangladesh-UAE sign MoU on “e-visa”

A Memorandum of Understanding (MoU) was signed between Bangladesh and the United Arab Emirates (UAE) in a bid to implement “e-Visa/e/-TA” in the capital yesterday (October 18, 2022).

www.thedailystar.net

The first consular consultations between Bangladesh and the UAE were held in Abu Dhabi Wednesday.

The Bangladesh delegation was led by Ambassador Mashfee Binte Shams, secretary (east) of the Ministry of Foreign Affairs (MoFA).

Senior officials from the ministry, representatives from the Ministry of Home Affairs, Ministry of Expatriates' Welfare and Overseas Employment, and officials of the Bangladesh Embassy in Abu Dhabi, as members, joined the consultations.

The UAE delegation was led by Faisal Essa Lutfi, assistant undersecretary, Consular Affairs, Ministry of Foreign Affairs and International Cooperation, of the UAE.

They discussed consular issues related to Bangladesh nationals living and working in the UAE as well as their welfare. It also covered the area of easing the visa renewal process, regularisation of over-stayers, cooperation in the area of combating human trafficking, and money laundering.

It was decided that a memorandum of understanding (MoU) to form the legal framework for a joint consular committee would be concluded soon for holding such meetings on a regular basis on a larger scale with wider participation and broader agenda.

First Bangladesh-UAE consular consultations held

The first consular consultations between Bangladesh and the UAE were held in Abu Dhabi Wednesday. The Bangladesh delegation was l

unb.com.bd

The Cabinet Committee on Government Purchase (CCGP) has approved a number of proposals including the import of 90,000 metric tonnes of fertiliser from Saudi Arabia and UAE.

The approval came from CCGP's 34th meeting this year held on Wednesday virtually with Finance Minister AHM Mustafa Kamal in the chair.

The Bangladesh Chemical Industries Corporation (BCIC) will buy the fertilisers in three separate lots from two different companies under separate contracts.

As per the proposals, some 60,000MT of bagged granular urea fertiliser will be procured from the SABIC Agri-nutrients Company of Saudia Arabia at a cost of Tk378.56 crore

Besides, BCIC will import 30,000MT of urea fertiliser from Fertiglobe Distribution Ltd, UAE at a cost of Tk189.28 crore

The BCIC will also import 30,000MT of phosphoric acid at Tk215.14 crore for its DAP Fertiliser Company Limited, UAE.

Govt okays import of 90,000MT urea fertilisers from Saudi Arabia, UAE

As per the proposals, some 60,000MT of bagged granular urea fertiliser will be procured from the SABIC Agri-nutrients Company of Saudia Arabia at a cost of Tk378.56cr

www.tbsnews.net

Russian foreign minister Sergei Lavrov is likely to be in Dhaka on a brief official visit later this month to discuss bilateral, regional and global issues of mutual interest.

Earlier, foreign minister AK Abdul Momen extended an invitation to his Russian counterpart to attend the 22nd IORA Council of Ministers meeting to be held in Dhaka on November 24.

Russia is a dialogue partner of the Indian Ocean Rim Association.

Bangladesh, the current chair of IORA, expects over a dozen ministers including the Russian foreign minister at the meeting, a senior official said.

The Russian foreign minister is likely to meet prime minister Sheikh Hasina apart from his bilateral meeting with foreign minister Momen.

Momen met his Russian counterpart last month in Astana, Kazakhstan on the sidelines of the CICA Summit and apprised him of the current situation of the Rohingya.

He stressed the need for stronger international support for resolving the Rohingya crisis.

In August, Sergey Lavrov met with his counterpart Wunna Maung Lwin and other top Myanmar officials in Naypyitaw.

The IORA Council of Ministers meeting, to be hosted by Bangladesh, will be preceded by the 24th meeting of the Committee of Senior Officials to be held on November 22-23.

The Indian Ocean Rim Association is an inter-governmental organisation aimed at strengthening regional cooperation and sustainable development within the Indian Ocean region through its 23 member states and 10 dialogue partners.

IORA member states are Australia, Bangladesh, Union of Comoros, French Republic, India, Indonesia, Iran, Kenya, Republic of Madagascar,

Malaysia, Maldives, Mauritius, Mozambique, Oman, Seychelles, Singapore, Somalia, South Africa, Sri Lanka, Tanzania, Thailand, United Arab Emirates and Yemen.

The 23 member states of IORA and 10 dialogue partners are expected to join the ministerial and senior official meetings.

Bangladesh assumed the position of the IORA Chair at the 21st IORA COM meeting in Dhaka held on 17 November 2021 and adopted the theme of ‘Harnessing the opportunities of the Indian Ocean sustainably for inclusive development.’

Bangladesh expects over a dozen ministers

Russian foreign minister Sergei Lavrov is likely to be in Dhaka on a brief official visit later this month to discuss bilateral, regional and global...

www.newagebd.net

Bangladesh abstained from voting in the UN General Assembly that adopted a resolution calling for Russia to be held accountable for violating international law by invading Ukraine.

The resolution, which was passed on Monday, also ordered Moscow to pay reparations to Kyiv for damages, loss and injury resulting from the war.

Of the assembly's 193 members, 94 voted in favour of the resolution, which recommends the assembly's member nations in cooperation with Ukraine create "an international register" to document claims and information on damage, loss, or injury to Ukrainians and the government caused by Russia.

Fourteen voted against and 73 nations abstained including India, Pakistan, Sri Lanka, Vietnam, Nepal, Bhutan and Malaysia.

Those voting against the resolution were Belarus, China, Cuba, North Korea, Iran, Russia and Syria.

It was the lowest level of support of the five Ukraine-related resolutions adopted by the General Assembly since Russia's February 24 invasion. General Assembly resolutions are non-binding, but they carry political weight.

Bangladesh voted in favour of the previous resolution passed in October defending the territorial integrity of Ukraine as per the principles of the UN charter.

That came after Bangladesh in March demanded aid access and civilian protection in Ukraine and criticised Russia for creating a "dire" humanitarian situation with its invasion.

However, Bangladesh abstained from voting in March for another resolution that demanded Russia stop the aggression on Ukraine and immediately withdraw from the country.

Bangladesh's explanation of vote for the resolution on Monday could not be obtained.

But India, in its explanation of vote, questioned whether a reparation process would contribute towards efforts at resolving the conflict and cautioned against precedents being set through such resolutions.

In presenting the resolution, Ukrainian Ambassador Sergiy Kyslytsya insisted that Russia must be held accountable for its violations of international law.

He outlined the impact of the Russian war on his country, including bombings targeting residential buildings and infrastructure, the demolition of nearly half of the power grid and utilities, massive displacement, and atrocities such as murder, rape, torture and forced deportations.

"Seventy-seven years ago, the Soviet Union demanded and received reparations, calling it a moral right of a country that has suffered war and occupation. Today, Russia, who claims to be the successor of the 20th century's tyranny, is doing everything it can to avoid paying the price for its own war and occupation, trying to escape accountability for the crimes it is committing."

Russia also supported the creation of the UN Compensation Commission (UNCC), established in 1991 following Iraq's invasion and occupation of Kuwait, Kyslytsya said.

"This proposal is not about Russia alone. It will work for the benefit of all those who are being threatened now or might be threatened later by use of force," Kyslytsya added.

Speaking before the vote, Russian Ambassador Vasily Nebenzya characterised the draft resolution as "a classic example" of a narrow group of states acting not on the basis of international law, but rather trying to consecrate something that is illegal.

He said countries backing the resolution were attempting to position the General Assembly as a judicial body, which it is not.

"These countries boast about how committed they are to the rule of law, but at the same time, they are flouting its very semblance," he added, speaking in Russian.

The proposed reparations mechanism will be created by a group of countries that will decide how it functions, Nebenzya said.

"The UN will play no role in this process because the proposed mechanism is suggested to be created outside of the UN, and no one has any plans to account to the General Assembly for its activity."

Furthermore, he had "no doubt" that the funding will come from frozen Russian assets, which total billions.

Western countries have long wanted to unfreeze these assets, he said, not to return them to their owner, or to spend them on helping Ukraine, "but rather so as to fund their own constantly growing weapons supplies to Kyiv, and covering the debts for the weapons already supplied."

In his nightly video address, Ukrainian President Volodymyr Zelenskyy said: "The reparations that Russia will have to pay … are now part of the international legal reality."

But Kremlin spokesman Dmitry Peskov on Tuesday said Russia stands "categorically against" the proposal, adding that Moscow would do "everything possible" to stop the West from seizing its frozen international reserves or "plundering" them to pay for reparations to Ukraine.

Bangladesh abstains from UN vote against Russia

Bangladesh abstained from voting in the UN General Assembly that adopted a resolution calling for Russia to be held accountable for violating international law by invading Ukraine.

www.thedailystar.net

 

[F-6 enthusiast]

Russian FM cancels Bangladesh tour

Russian foreign minister Sergei Lavrov has canceled his scheduled Dhaka tour next week, a development that his counterpart AK Abdul Momen attributed to his preoccupation due to the war situation....

www.newagebd.net

Russian FM cancels Bangladesh tour

Russian foreign minister Sergei Lavrov has canceled his scheduled Dhaka tour next week, a development that his counterpart AK Abdul Momen attributed to his preoccupation due to the war situation.

Foreign ministry officials said that Moscow through its embassy informed Dhaka in the form of a note verbal that Lavrov was unable to visit Bangladesh coinciding with the 22nd Indian Ocean Rim Association Council of Ministers meeting on November 24 in Dhaka.


‘I can understand it. They are very busy. Their activities due to the war have increased to a large extent,’ Momen told newsmen on the sidelines of a function at a hotel in Dhaka, adding, ‘maybe for that reason he (Lavrov) is unable to come.’

He added, ‘He (Lavrov) wants to speak with me over the phone (instead of visiting in person). And I agreed.’

Momen said that his office came to know about the Lavrov’s decision on Friday through the ‘note verbal’ that refers diplomatic communication.

Asked about Dhaka’s stance on Russia-Ukraine war, Momen said, ‘Bangladesh has been maintaining an independent and balanced foreign policy.’

Apart from attending the IORA, the Russian foreign minister was scheduled to call on prime minister Sheikh Hasina and hold a bilateral meeting with Momen.

The foreign ministry officials said that energy cooperation issue with Moscow was likely to largely the two foreign ministers talks.

Ministerial level delegations from 15 countries are expected to join the meet which Russia would now be represented by its ambassador Alexander Mantytskiy.

IORA is an inter-governmental organisation aimed at strengthening regional cooperation and sustainable development within the Indian Ocean region through its 23 member states and 10 dialogue partners.

IORA member states are – Australia, Bangladesh, Union of Comoros, France, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, the Maldives, Mauritius, Mozambique, Oman, Seychelles, Singapore, Somalia, South Africa, Sri Lanka, Tanzania, Thailand, United Arab Emirates and Yemen.

 

[Isa Khan]

Highlights:

• The migration cost for workers going to Russia would be about Tk42000 each,
• The salary would vary from Tk 65,000-85,000 depending on skills and experience.
• Russia is not among the top 30 remittance-sourcing countries for Bangladesh

The Russian shipbuilding industry is seeking to hire skilled manpower from Bangladesh for the first time in history.

The move comes after the world's largest country is reportedly having difficulties in sourcing foreign parts and equipment for civilian vessels amid the war with Ukraine and President Vladimir Putin hinted at strengthening the country's shipbuilding industry.

A number of interested Russian companies have already contacted Bangladesh Overseas Employment and Services Limited (BOESL) in this regard.

Some 100 workers with high efficiency and experience in shipbuilding have been sought initially by multiple Russian companies, according to a BOESL notice.

The notice also mentioned that the companies are mainly interested to hire workers for Scaffolding (builder), Hull Fitter (metal vessels), Marine Machine Fitter, Marine Pipe Fitter, and Welding,

An official of BOESL, on condition of anonymity, told The Business Standard that the demand for workers is likely to increase gradually.

BOESL Managing Director Dr Mallick Anwar Hossain recently told journalists, "Once we enter the [Russian shipbuilding] market, many people can be employed there and we are trying for that."

"We have so many people working in the shipbuilding industry in Bangladesh. Besides, many skilled people are coming out with training from different institutes of marine technology. So, it will be a good opportunity for them," he added.

Bangladesh has a total of six marine technology institutes, offering a significant number of aspirants training in skills development every year.

Many Bangladeshi workers are currently working in the shipbuilding industry of Singapore. After Singapore, Russia is going to be another promising destination for Bangladeshi shipbuilding workers, stakeholders said.

According to BOESL sources, the interested candidates should have a minimum of six months of working experience in the international shipbuilding industry of South Korea, Singapore, or any other country.

The migration cost for workers going to Russia would be about Tk42,000 each including the BOESL service charge, and the salary would vary from Tk65,000-85,000 (38,850-50,000 Russian ruble) depending on skills and experience.

However, the airfare, accommodation and transportation costs in Russia will be borne by the employers while the food expenses have to be managed with the workers' own arrangements.

The selected candidates have to work in extreme cold with temperatures ranging from -11 to -30 degrees Celsius for three to five months each year.

Interested candidates will be able to apply for the jobs online using the link provided on the BOESL website.

In September last year, Bangladesh Ambassador to the Russian Federation Kamrul Ahsan requested the Governor of the eastern Russian city of Vladivostok to recruit skilled manpower from Bangladesh in the shipbuilding industry of Vladivostok, which belongs to the Primorsky region.

At that time, the ambassador also mentioned that more than 60,000 Bangladeshi workers are currently working with efficiency and reputation in the shipbuilding industry of Singapore alone.

Currently, there are some 20 international and 100 local shipyards and dockyards in Bangladesh that build nearly 100 vessels a year.

More than 150,000 skilled and semi-skilled workers are employed in this labour-intensive sector and an estimated 20 lakh people are directly or indirectly involved in the industry.

Russia is not a typical labour migration destination for Bangladeshis but many students migrate to the country for higher education.

Since 1972, Bangladeshi students have been receiving scholarships under the Russian State Scholarship scheme. So far about 6,000 Bangladeshi students have graduated from different universities in Russia.

Russia to enforce its shipbuilding industry amid parts supply crunch

President Vladimir Putin recently said Russian shipbuilding companies have faced difficulties with supplies of foreign equipment and component parts for civilian vessels, reports Russia's state-owned news agency Tass.

"The reason is known, it is the failure of foreign partners to honour their commitments, in view of purely political time-serving, momentary considerations and causes," he said during a meeting, via videoconference, on the shipbuilding industry development on 18 August.

"In general, let me stress that, as you know, the situation in the world and the actions of our Western partners have shown once again that we need to be proactive in developing our own competencies in shipbuilding," he said.

"It is impossible to substitute every imported part, and there is no need to do this, but it is necessary to achieve technological sovereignty in critical positions of ship equipment, and in the most significant production processes and technologies," Putin said.

"We need to make sure that as many operations as possible to equip, retrofit and repair ships are carried out in Russia," the Russian president added.

Russian shipbuilders hiring Bangladeshis for the first time

Highlights: The migration cost for workers going to Russia would be about Tk42000 each, The salary would vary from Tk 65,000-85,000 depending on skills and experience. Russia is not among the top 30 remittance-sourcing countries for Bangladesh The Russian shipbuilding industry is seeking to...

www.tbsnews.net

Bangladesh's export sector has opened a new door, with the first shipment of black seed oil from the country reaching Australia for the first time on Thursday.

People concerned said this is the first time black seed oil has been exported from Bangladesh.

The first shipment of 300kg black seed oil reached the port of Sydney, Sayed Munirul Haque, plant quarantine pathologist of Chattogram port, told The Business Standard.

He said, "Bangladesh currently exports readymade garments, ceramic products, medicines and leather goods to Australia. The country's export sector has entered a new era with the export of black seed oil."

"Delivering the first shipment of black seed oil was a challenge for us. Exporting goods to Australia is much more difficult than it is to Europe and the USA since Australia follows a strict quarantine policy to ensure the quality of products from abroad," he said.

He added, "As such, our black seed oil had to go through several tests at the Bangladesh Standards & Testing Institution (BSTI) and the Science Laboratory for the last three months."

Fitrah Private Limited, a Sydney based company, imported the products from Bangladesh. Omar Faruk, a Bangladeshi businessman living in Australia, initiated the export.

He said, "I was working on how to introduce Bangladeshi products in Australia. I saw that there is a huge demand for black seed oil here. Companies in this country import this product from India, Lebanon and Jordan. If black seed oil from Bangladesh gets a good response here, it will create a new opportunity for our export sector."

"The black seeds have been collected from different areas of Bangladesh, including Naogaon. The quality of our oil is very good. So, hopefully, it will make a good impression in the Australian markets," he added.

"In future, we have plans to cultivate black seeds in Chattogram to produce oil for export," Omar Faruk further said.

According to Global Market Insights, the demand for black seed oil increased among consumers in the developed world, including Australia, during the Covid-19 pandemic due to its medicinal qualities. In 2020, the global market for this product exceeded $17.5 million which could rise to more than $30 million by 2027.

In North America, the most common use of black seed oil is in the pharmaceutical industry. However, in Europe, its use has increased in cosmetic products. In the Asia Pacific region, it is used mostly as an ingredient in food items.

The seeds of the Nigella sativa plant, which is primarily grown in Southwest Asia and some regions of the Middle East, are used to make black seed oil.

Experts say it has therapeutic qualities and can be used as a successful treatment for a number of conditions, such as diabetes, high blood pressure, asthma, rheumatoid arthritis, respiratory infections, etc.

Bangladesh exports black seed oil for the first time to Australia

In 2020, the global market for this product exceeded $17.5 million

www.tbsnews.net

 

[Isa Khan]

Bangladesh will open new diplomatic missions in four African countries – Sierra Leone, Ghana, Senegal and Zimbabwe – in a bid to explore new horizons of trade, investment, migration and contract farming, officials familiar with the matter told The Business Standard.

The country currently has missions in 10 out of 54 countries in the African continent and is engaged in considerable trade with South Africa, Egypt, Morocco and Kenya.

Other Bangladeshi missions are in Algeria, Ethiopia, Libya, Mauritius, Nigeria and Sudan.

"In the recent past, the government has adopted the 'Look Africa' policy to envisage a range of activities to bolster relations with the African countries. The foreign ministry has emphasised boosting our relations with the countries of Africa, especially in trade and economy, education, IT and ICT, air and maritime, health, contract farming, peer-to-peer contacts," Mashfee Binte Shams, secretary (east) of the Ministry of Foreign Affairs, told The Business Standard.

"In order to expand our diplomatic presence in Africa, several new missions have been opened recently, such as in Mauritius, Nigeria, Ethiopia, and most recently in Sudan. The mission in Algiers, which had been closed down, has also been reopened."

"Now the government plans several other missions in Ghana and Sierra Leone. Besides, the closed missions in Senegal and Zimbabwe will also be reopened," she said and added that Bangladesh has already appointed honorary consuls in many African countries to provide consular support as well as expand business relations.

Shams also noted that most of the Bangladesh missions in Africa offer services to countries in their immediate neighbourhood in order to cover most of the region.

"Countries which have footprints in Africa are taking advantage. We, however, have fewer missions in the region. If we had a higher number of missions we would get more benefits," Foreign Secretary Masud Bin Momen said at a recent event.

"Now we are moving toward [opening missions in] some countries there," he added.

Trades with Africa

Bangladesh shipped goods worth $133.33 million to South Africa – the largest export destination in the region – in FY22, while it imported goods worth around $185.5 million, according to the Export Promotion Bureau and the National Board of Revenue.

In the same period, Bangladesh's exports to Egypt and Kenya amounted to only $51.71 million and $20.28 million respectively.

The export basket includes readymade garments, ceramics, pharmaceuticals, jute, food products, light engineering items, electronic products and home appliances.

"Yet trade and investments with African countries fall short of our expected level. However, initiatives have been taken to ink several agreements, including free trade agreements and preferential trade agreements, to boost trade, avoid double taxation and promote cooperation among investment promotion authorities," said Mashfee Binte Shams.

The president of Sierra Leone is expected to visit Bangladesh this month or the next and the presidents of Gambia and Mozambique may visit soon, which can bring about a significant breakthrough in bilateral relations, the foreign ministry official said.

"We have currently considerable investment from Mauritius in the textile sector. Meanwhile, some African countries have also expressed their interest in establishing joint ventures with Bangladesh, particularly in ready-made garments, pharmaceutical and IT and ICT sectors."

"Some Bangladeshi firms also have invested in Africa. Square Pharmaceuticals, which has established a factory in Kenya, is a case in point", she added.

Apart from trade and investment, Bangladesh being the largest troops contributor to the United Nations peacekeeping operations in Africa, plays a great role in maintaining peace in the continent.

Bangladesh mulls more missions in Africa to explore new trade horizons

The country currently has missions in 10 out of 54 countries in the African continent

www.tbsnews.net

 

[Isa Khan]

https://twitter.com/i/web/status/1601632277955768320

Argentina will reopen its embassy in Bangladesh, said Argentine Foreign Minister Santiago Cafiero.

"Argentina will push the reopening project of the embassy in Bangladesh, closed since 1978," Santiago Cafiero tweeted on Saturday (10 December).

Cafiero said that after participating in the G-20 Foreign Ministers' Summit in India in 2023 he will make a trip to Bangladesh to finalise the details, reports Merco Press.

The decision to reopen its embassy was most likely boosted by a large number of Bangladeshis' support of Lionel Messi's team playing the football FIFA World Cup in Qatar.

"With the reopening of the Embassy and its consular section, we seek to exploit the potential of the bilateral relation, mainly in the commercial aspect, which has a wide potential for growth, seeking to diversify trade and the Argentine exportable offer. Likewise, to promote cooperation in the sports, satellite, humanitarian aid, and disaster management fields," the Foreign Ministry said in a statement.

In August this year, Cafiero met with Foreign Minister Dr AK Abdul Momen, to promote bilateral cooperation. In that meeting, both diplomats agreed there was "wide potential for trade growth."

Argentine exports to Bangladesh last year amounted to $876 million; the leading items were soybean byproducts, corn, and wheat.

Argentina to reopen embassy in Bangladesh

"Argentina will push the reopening project of the embassy in Bangladesh, closed since 1978," Argentine Foreign Minister Santiago Cafiero tweeted on Saturday

www.tbsnews.net

 

[Baryshx]

This will be a nice addition to our arsenal.

The Supersonic Air-to-Surface Missile of Turkiye

The first supersonic air-to-surface missile of Turkiye has been tested. Information was published from the official channels of Roketsan, a Turkish state enterprise for missile and rocket systems.

www.turdef.com

Does Bangladesh have a problem with any country, such as the problems between Turkiye and Greece? What is your situation with India and Pakistan?

 

[Afif]

Does Bangladesh have a problem with any country, such as the problems between Turkiye and Greece? What is your situation with India and Pakistan?

Pakistan is more then thousand km away. and between us and them the world biggest population .
so, there is no possibility for any problems just because of pure geography.
on top of that, they got tons to worry about India, Afghanistan and Kashmir.
even if it wasnt the case, there is nothing to gain for Pakistan by messing with us anyway.

Obviously, with our eastern neighbour Myanmar, we got serious issue as they committed genocide on Rohinga minority and pushed the rest of them in our country.
plus, often provocative violation of our airspace and shelling in the border. So, Myanmar is clearly a threat for our national security for now.

And when it comes to India, the idea is simply peace through deterrence.

 

[Isa Khan]

The visit of the US ambassador in Dhaka to Shaheenbagh is being regarded by Russia as an attempt to interfere in Bangladesh's domestic affairs.

Russian foreign ministry spokesperson Maria Zakharova made this comment while speaking at a regular briefing in Moscow on Thursday. The Russian embassy in Dhaka released Maria Zakharova's statement on Sunday morning.

Maria Zakharova termed as attempts to surround the US ambassador on the day of the incident as an 'expected result of the activity of the American diplomat'.

The Russian foreign ministry spokesperson said that under the pretext of caring about the rights of the citizens of Bangladesh, the US ambassador was "persistently trying to influence the domestic processes in the country."

US ambassador Peter Haas on the morning of 14 December visited the home of BNP leader Sajedul Islam, who went missing around a decade ago. A group of people tried to waylay him as he emerged from the house. He left the area with the help of security personnel.

The same afternoon Peter Haas held an urgent meeting with the foreign minister AK Abdul Moment regarding the Shaheenbagh incident. He questioned how his personal information was leaked and expressed concern for his own security.

The US informed the highest level of the Bangladesh government about its concern regarding the incident involving the US ambassador in Dhaka, Peter Haas.

The matter has been discussed in Washington too. During discussions on with Bangladesh's ambassador to the US, Mohammad Imran on 15 December, the US Assistant Secretary of State of Central and South Asian affairs Donald Lu expressed concern for Peter Haas' security.

US ambassador's Shaheenbagh visit is interference in Bangladesh's domestic affairs: Russia

The visit of the US ambassador in Dhaka to Shaheenbagh is being regarded by Russia as an attempt to interfere in Bangladesh's domestic affairs.

en.prothomalo.com

Foreign minister AK Abdul Momen on Monday said the government does not want any country getting involved in Bangladesh's internal affairs.

"We are a matured country. We are a sovereign country. We are an independent country," he told reporters while responding to questions at the ministry of foreign affairs, reports UNB.

Asked whether his message applies to all countries, Momen said, "Yes, no matter who."

The foreign minister’s attention was drawn to the recent remarks made by both the US and Russian sides. Momen said that other countries do not need to give prescriptions to Bangladesh on democracy and human rights as these are deeply rooted in Bangladesh's DNA.

He said the current government is committed to holding free, fair, transparent and inclusive elections under the independent Election Commission.

The foreign minister said Bangladesh welcomes constructive suggestions from foreign friends.

Responding to a question on the formal inauguration of Dhaka Metro Rail, Momen said the government remains grateful to Japan for their uninterrupted support despite the Holey Artisan attack that left over 20 foreign nationals, including Japanese citizens, dead.

We don't want Russia, US interfere in Bangladesh's internal affairs: Foreign minister

Foreign minister AK Abdul Momen on Monday said the government does not want any country getting involved in Bangladesh's internal affairs

en.prothomalo.com

The 2nd foreign office consultations between Bangladesh and the Islamic Republic of Iran was held in Dhaka on Thursday.

Foreign secretary (senior secretary) Masud Bin Momen and first deputy minister (political affairs) of Iran Ali Bagheri Kani led their respective delegations to the consultations.

The consultations reviewed the status of the bilateral relations between the two fraternal countries and discussed ways to enhance further cooperation and partnership in the field of commerce and trade, investment in the economic zones, human resource development, people-to-people ties, food security, energy, connectivity, Blue Economy, climate change cooperation and so forth.

The two sides underscored the importance of the exchange of high-level visits and timely implementation of the agreements signed between the two countries.

The Bangladesh side requested a deeper engagement of Iran to facilitate sustainable return of the forcibly displaced Myanmar nationals to their country of origin.

They exchanged views on global issues and issues of regional cooperation as well. Both sides agreed to enhance cooperation and partnership bilaterally and in various regional and multinational forums on matters of core concern.

A roadmap for future cooperation agenda was also agreed on, including the convening of the next joint commission meeting in Tehran.

Both sides committed to further strengthen the existing cooperation in the days to come.
Discussions were also held on the third meeting of the foreign office consultation proposed to be held in Tehran at a mutually convenient date.

Senior officials of the ministry of foreign affairs and various Ministries of the government of Bangladesh were part of Bangladesh delegation.

The Iranian delegation comprised the officials from the ministry of foreign affairs of Iran and the Embassy of the Islamic Republic of Iran in Dhaka.

Following the Consultations, the Iranian first deputy foreign minister paid courtesy called on foreign minister AK Abdul Momen.

Terming the relations between Bangladesh and Iran as historic, the foreign minister expressed that there are enormous potentials to deepen this bilateral cooperation further.

He stated the desire to enhance the bilateral trade and investment between the two countries and expand the cooperation for human resource development, people-to-people ties, food security, energy security, connectivity, Blue Economy and climate cooperation.

First Deputy Minister (Political Affairs) of Iran Ali Bagheri Kani also paid a courtesy call on State Minister for Foreign Affairs Md Shahriar Alam this afternoon at the Foreign Ministry and discussed issues of common interest.

He also called on the chairman of the parliamentary committee on ministry of foreign affairs Muhammad Faruk Khan on Wednesday.

Both sides call for implementation of agreements signed between two countries

The 2nd foreign office consultations between Bangladesh and the Islamic Republic of Iran was held in Dhaka on Thursday

en.prothomalo.com

 

[Isa Khan]

https://twitter.com/i/web/status/1607386686153183232

 

[Isa Khan]

After raising allegations of financial irregularities, cost escalation even before beginning of the main project work and tender anomalies, state-owned Bangladesh Chemical Industries Corporation calls for pulling out of a Saudi-Bangladesh joint venture under which a cement factory is to be built in Sylhet's Chhatak upazila, show documents.

According to the primary estimation, the $321 million joint venture – officially named as Saudi Bangla Integrated Cement Company Limited – will incorporate 40% Bangladeshi and 60% Saudi investment.

A deal for the joint venture between the two countries was signed during Prime Minister Sheikh Hasina's Saudi Arabia visit in 2018. According to the agreement, the manufacturing unit will have a daily capacity of 12,000 tonnes of clinker and 3,000 tonnes of cement.

On behalf of Bangladesh, the chemical corporation will make the investment while the Engineering Dimension International Investment LLC will act as the investment arm for Saudi Arabia.

But in a recent letter to the Ministry of Industries, the chemical corporation sought the pull out as it noted the irregularities and anomalies by their counterpart has put the investments by both the countries at risk.

The joint venture cement company has five directors nominated by the chemical corporation and six directors, including three Bangladeshi nationals, nominated by the Saudi investor.

The chemical corporation complaints are mainly against those three Bangladeshi directors. The state-owned corporation in the letter to the industries ministry mentioned that the three Bangladeshi citizens are also on the board of directors of a local engineering and construction firm named Dipon Group.

"They did not disclose that they are directors of Dipon Group. But it was discovered subsequently that the directors also hold positions at the group as none except the local firm was eligible to respond to the joint venture tender, and picked up for the work eventually," a top chemical corporation official told The Business Standard on condition of anonymity.

"This was one of the irregularities," the official added.

Chemical corporation Chairman Shah Md Imdadul Haque told the industries ministry that Dipon Group directors nominated by the Engineering Dimension International Investment LLC have considerable deficiencies in various activities, financial spending, managements and transparency overall in the joint venture project.

"This has prompted a high risk of undermining Saudi investment and government interests too" he noted.

A questionable feasibility

The initial feasibility study for the cement manufacturing project estimated the cost at $321 million. However, a subsequent study recommended increasing the cost to $604 million, drawing objections from the company's board.

Acting Managing Director of the joint venture Syed Javed Iqbal told the company board that the second study was conducted by Mumbai-based BOE Consulting Firm, but the report submitted to Saudi Bangla Integrated Cement Company lacked any signatures or seals from BOE.

The revised feasibility report also showed a cost of $117 million for a 18-km-long conveyor belt – which will transport materials to the cement plant – despite the first study estimating the cost at $49.8 million. No drawings, designs, or cost estimates were provided for the belt in the report.

Dipon Infrastructure Services Ltd – a sister concern of Dipon Group – was picked up by the above-mentioned tender to buy and install the conveyor belt.

Chemical corporation officials alleged the three directors of Dipan Group – led by Syed Javed Iqbal – are exerting influence on the board and forcing various decisions to be passed. This had led to arguments and quarrels in their various board meetings with chemical corporation directors.

According to the chemical corporation, there is no scope for unreasonably increasing the cost before the project starts.

MD says no comment as ministry to probe

Acting Managing Director of the joint venture Syed Javed Iqbal said that he did not wish to make any public statements on the internal affairs of the company to the media.

"If the Saudi investor wants to know anything, then I will brief them. And if there are any issues… the government which holds a significant stake in the company, can seek legal action or hold a press conference," he added.

Zakia Sultana, secretary of the Ministry of Industries, said they are going to approach the issue in two ways.

"First of all, we will form an inquiry team and take decisions upon the findings," she told The Business Standard on Sunday.

"Since the image of the country is also involved in such joint investments, we have discussed with the Bida [Bangladesh Investment Development Authority]. We will hold discussions with all parties in phases too," she added.

Bangladesh Chemical Industries Corporation seeks to pull out of joint venture with Saudi Arabia over anomalies

Industries ministry discussed the issues with Bida as there will be probe to put the project on right track

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[Isa Khan]

Bangladesh has opened the Banglabandha Dry Port for Nepali traders to export yarn to third countries.

"The National Board of Revenue, the apex body of Bangladesh in tax-related issues, has recently incorporated the matter in its Statutory Regulatory Orders and had it published in the country's national gazette," Nepal's Ministry of Industry, Commerce and Supplies said in a public notice two weeks ago, reports My Republica.

Bangladesh has been long asked by Nepal to address hurdles to exporting its yarn to Bangladesh, harmonise sanitary and phytosanitary (SPS) measures and review the list of 108 Nepali products which have duty-free access to the Bangladesh market. This includes easy visa facilities for Nepalis, preferential treatment for a number of Nepali goods and access to Bangladeshi ports for exporting goods to third countries.

As of now, Bangladesh has been allowing the import of Nepali yarn only by sea.

Nepali traders who have been dispatching their yarn to Bangladesh via Bangalabandha were required to send their shipments through Chattogram - increasing trading costs.

In 2002, Bangladesh imposed the restriction on yarn import through the land port seeking to safeguard the local cotton yarn industry from foreign products and opened up its Benapole Land Port and Chattogram Sea Port for yarn import.

Banglabandha port reopened to import yarn from Nepal

Bangladesh has again allowed traders to import yarn from neighbouring Nepal through the Banglabandha Land Port – a major port in Northern Bangladesh – after a two-decade-long restriction. The National Board of Revenue issued a statutory regulatory order last week to this end. "Only acrylic yarn...

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