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Deputy Minister of Defence of the Russian Federation Colonel-General Alexander Fomin held a working meeting with the head of the military department of the Secretariat of the Prime Minister of the Republic of Bangladesh Waker-Uz-Zaman.

“Cooperation between our states, including in the military and military-technical fields, is developing. We are ready to develop and strengthen it further in the interests of strengthening the defence capability of our states in the name of peace on earth,” said Alexander Fomin.

Waker-Uz-Zaman, in turn, said that it was necessary to increase cooperation, including in the area of training military personnel from Bangladesh in Russian universities. “We would like to strengthen interaction between our states. We have an exchange of delegations, but as part of the development of our relations, we would like to strengthen it. We would also like to strengthen cooperation in the training and education of our military personnel. Our agreement on this issue is at the final stage,” he said.

 

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Maybe the main purpose is nuclear power plant security?
Or did Bangladesh Army complete that training?
 

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Saudi Arabia is looking at signing a free trade agreement (FTA) with Bangladesh in a bid to increase bilateral trade, which is considered below its potential.

A free trade agreement is a pact between two or more nations to reduce barriers to imports and exports among them.

Under a free trade policy, goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.

The bilateral trade between Bangladesh and Saudi Arabia stood at $1,019 million in 2019, according to available statistics.

In 2019, Saudi Arabia exported goods worth $638 million to Bangladesh while Bangladesh exported goods worth $381 million to Saudi Arabia.

According to Arab News, Saudi Arabia is looking for more trading partners under FTA as the country aims to increase non-oil exports share in the gross domestic product (GDP).

The kingdom is resuming negotiations for free trade agreements with 11 countries, Okaz paper reported, citing a circular by the Federal of Saudi Chambers (FSC) to all chambers of commerce operating in the kingdom, based on directions of the General Authority for Foreign Trade (GAFT).

The targeted countries are: China, India, Pakistan, Australia, New Zealand, Britain, Indonesia, the Philippines, Bangladesh, Sri Lanka and the US.

While talking to The Dhaka Tribune, a BGMEA leader said that Bangladesh has major potential to increase RMG exports to KSA under market diversification.

Meanwhile, the kingdom aims to export services including transport, distribution, professional and financial services, communication services, postal services as well as express mail, media, hotel, construction and contracting, education and training, travel and tourism, environmental and entertainment.

The Saudi Exports Development Authority (SEDA) announced on Wednesday, it will identify over 120 international tendering opportunities in a number of target countries, mainly covering construction and industrial supplies and infrastructure projects.

A request to comment about the circular was sent to the Federal of Saudi Chambers (FSC), but they did not reply.

Meanwhile, Bangladesh’s Ambassador Dr Mohammad Jabed Patwari, in a meeting with Chairman of the Eastern Chamber of Commerce of Saudi Arabia Dr Abdul Hakim Al Khaldi and its Secretary-General Abdul Rahman Al Wabel on June 30, 2020, laid emphasis on increasing trade with the Kingdom of Saudi Arabia.

He proposed to KSA businessmen to import more readymade garments, handicrafts and leather goods from Bangladesh.

In the meeting, Jabed Patwari asserted that Bangladesh is currently the second-largest exporter of garments in the world and has been manufacturing and exporting quality garments.

Hence, Saudi Arabia can import any type of quality garment from Bangladesh.

Moreover, Patwari also said that Bangladesh’s handicrafts and leather products are of export quality and wished to export these products to the kingdom.

The main products that Saudi Arabia exported to Bangladesh in 2019 are propylene polymers ($209M), nitrogenous fertilizers ($109M) and ethylene polymers ($103M).

During the last 24 years, Saudi Arabian exports to Bangladesh increased at an annualized rate of 12.8%, from $35.3 million in 1995 to $638 million in 2019.

In 2019, Saudi Arabia did not export any services to Bangladesh.

In the same year, the main products that Bangladesh exported to Saudi Arabia were knit T-shirts ($67.7 million), non-knit women's suits ($62.5 million) and felt or coated fabric garments ($44.6 million).

During the last 24 years, Bangladesh’s exports to Saudi Arabia increased at an annualized rate of 17.8%, from $7.44 million in 1995 to $381 million in 2019.

In 2019, Bangladesh also did not export any services to Saudi Arabia.

Comparison

In 2019, Saudi Arabia ranked 33 in the Economic Complexity Index (ECI 0.94), and 26 in total exports ($228B). That same year, Bangladesh ranked 122 in the Economic Complexity Index (ECI -1.01), and 52 in total exports ($47.2B).

Though several South Asian and Southeast Asian countries have proposed to sign FTA with Bangladesh in the past, no decision has been made in this regard as of now.


Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today sought Spanish investment in non-cotton textile items as the demand for man-made fibre (MMF) garment items is on the rise.

BGMEA President Faruque Hassan mand the call when Spanish Ambassador Francisco de Asís Benítez Salas made a courtesy call at the BGMEA office in Dhaka.

Hassan highlighted the issues related to the readymade garment industry in Bangladesh including its progress in the areas of workplace safety, social and environmental sustainability, BGMEA said in a statement.

The BGMEA president sought support from the embassy of Spain regarding the potential of foreign investment in non-cotton and technical textiles and high-end apparel items.

The ambassador of Spain lauded the progress of the apparel industry of Bangladesh, the statement read.


 

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South African Trade Minister, Ebrahim Patel underlined the importance of joint ventures between Bangladesh and South Africa in a virtual discussion with Foreign Minister A. K. Abdul Momen, recently.

During his official bilateral visit to South Africa, the foreign minister joined the virtual discussion with Ebrahim Patel, Minister of Trade, Industry and Competition of South Africa, said a press release.

Patel suggested sharing knowledge between Bangladesh and South Africa in IT sector.

The Ministers both underlined the importance of institutional cooperation in the form of exchange of the visits of trade and business delegations and conclusion of Agreements in the trade, investment and commerce areas.

The FM informed Patel about various facilities and incentives that are provided to the foreign investors in Bangladesh.

Both the ministers agreed to continue cooperation with a view to enhancing trade, economic and business relations between the friendly countries.

Foreign Minister also mentioned the remarkable economic growth that Bangladesh was attained during the last twelve years under the leadership of Prime Minister, Sheikh Hasina.

He informed the South African trade minister that Bangladesh is presently sheltering 1.1 million forcibly displaced Myanmar nationals in Bangladesh.

During the virtual discussions, the South African Trade Minister strongly suggested that Bangladesh investors may visit South Africa to see the investment opportunities in South Africa.

He indicated that Bangladeshi investors can invest in South Africa in different sectors including clothing, textiles and footwear sectors.

While, Abdul Momen said that Bangladeshi investors have invested in some African countries and if the South African government extends their accord for similar investment, Bangladeshi investors are likely to consider investing in South Africa.

He added that collaboration in many sectors like IT and agro-processed industry would provide win-win situation for both countries.

The other members of Bangladesh delegation, who comprised Foreign Ministry officials and Bangladesh High Commissioner in South Africa also joined the virtual discussion.


Textile and Jute Minister Golam Dastagir Gazi said that Saudi Arabia is keen to invest in Bangladesh to operate Bangladesh Jute Mills Corporation (BJMC) 's closed jute mills.

Saudi Arabia ambassador to Bangladesh Essa Yussef Essa Al Dulaihan on Wednesday meet with the Textile and Jute Minister of Bangladesh at the secretariat building. Secretary of the Ministry, Mohammad Abdul Mannan was also present at that time, reads a press release issued by Saikat Chandra Halder, public relations officer of the Ministry

Essa Yussef Essa Al Dulaihan said, "Saudi Arabia sincerely believes that Bangladesh is their friendly country. So, Saudi wants to invest in Bangladesh' Textile and Jute sector to boost economy and business of the sector,"

Textile and Jute Minister Golam Dastagir Gazi told Saudi Arabia ambassador to Bangladesh that Bangladesh also sincerely believes Saudi Arabia as a friendly country.

The Minister hopes that Saudi will invest more in Bangladesh's Textile and Jute sector.

The minister assured Saudi Arabia ambassador to Bangladesh that Bangladesh produces the best quality jute in the world and produces high quality and attractive versatile products from this jute. Jute products are completely environmentally friendly.

Demand for jute-made products has grown significantly as a result of recent environmental awareness in Saudi Arabia. Versatile jute products are exported to different countries of the world including Saudi Arabia.

Bangladesh wants to export more versatile jute products to Saudi Arabia in the future, the minister hoped.

Jute is second only to cotton in the world's production of textile fibers. Bangladesh, India, China, and Thailand are the leading producers of jute, which is also produced in southeast Asia and Brazil.

The BJMC official website says it inherited as many as 73 jute mills, having 23,836 looms, at the time of Bangladesh's liberation in 1971. But over the years, while private-run jute industries have witnessed some success, the state-run ones have faltered, resulting in a sorry state of affairs in the public sector jute industry.

 

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The Hungarian government has decided to increase the number of scholarships to Bangladeshi students for pursuing higher studies at educational institutes in the European country next year.

The matter was decided while Foreign Minister Dr AK Abdul Momen held a bilateral meeting with his Hungarian counterpart Peter Szijjarto in Geneva on Wednesday, a foreign ministry press release said here today.

 

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The United Kingdom (UK) has recognized Bangladesh’s role as a "critical stability provider" in the region, and its particular relevance in the context of the UK’s integrated foreign, trade, development and security policy review with focus on the Indo-Pacific.

Bangladesh and the UK agreed to remain engaged on a durable solution to the Rohingya crisis, together with relevant regional and international actors.

The two countries discussed the bilateral, regional and global issues at the 4th Strategic Dialogue held in London on Thursday.

Both delegations exchanged views on the evolving situation in Afghanistan.

Foreign Secretary Masud Bin Momen led the Bangladesh delegation at the talks while his British counterpart Sir Philip Barton, Permanent Under-Secretary of the Foreign, Commonwealth and Development Office (FCDO) led the UK side.

The Bangladesh Foreign Secretary urged the UK to review the current travel restrictions on Bangladesh as a matter of priority, considering the steady improvement in the Covid-19 infection and vaccination rates.

The two sides agreed to further scale up cooperation in genome sequencing of the testing samples through relevant Bangladesh agencies.

Bangladesh and the United Kingdom reaffirmed their historic and multidimensional ties at the 4th Strategic Dialogue.

“Bangladesh at 50 and the UK post-Brexit have the opportunity to further energize our bilateral relations in line with our efforts at resetting our foreign policy pursuit towards deeper strategic engagement with key international partners”, said Masud Momen.

Barton underlined the importance of the two democracies engaging with each other on a range of bilateral, regional and global issues.

The two sides recalled the founding of the bilateral relations during Bangabandhu Sheikh Mujibur Rahman’s visit to London on January 8, 1972 on his way to the newly independent Bangladesh, when he was received by the British Prime Minister Edward Heath.

Both Bangladesh and the UK renewed their commitment to climate action, including by combining forces of the UK’s COP26 Presidency and Bangladesh’s leadership of the Climate Vulnerable Forum (CVF).

They decided to build on the bilateral climate partnership agreed earlier in the year to help mobilize finances and technologies to support Bangladesh’s efforts at pursuing a low-carbon development pathway.

The two delegations exchanged views on cooperation on education, with particular focus on girls’ education in the aftermath of the pandemic.

The UK further explained its new immigration policy whereby overseas students would have the opportunity to work for two to three years following the completion of their studies.

The two countries agreed to explore ways to deepen cross-border collaboration in research and innovation.

Trade Preferential Measures

The Bangladesh delegation urged the UK to consider continued trade preferential measures following its LDC graduation.

They agreed to facilitate further business-to-business connectivity, including through the leading Chambers of Commerce and Industry.

Both sides welcomed the launch of the bilateral Trade and Investment Dialogue in February 2021.

The two delegations renewed their commitment to combat terrorism, promote and protect human rights, and cooperate on aviation, maritime and cyber security.

Both sides agreed in principle to initiate a comprehensive dialogue towards building a sound migration and mobility partnership.

They shared interest in commemorating 50 years of the establishment of diplomatic relations, including through exchange of high-level visits.

The two delegations appreciated the multi-faceted contributions of the Bangladesh diaspora in the UK and agreed to work on issues that are of particular interest to the community.

The Bangladesh side commended the British Council for its cooperation activities in the country spanning seven decades.

Both Bangladesh and the UK discussed upcoming issues at the UN and the Commonwealth.

The Strategic Dialogue was held in a warm, friendly atmosphere and also featured cultural presentations by local Bangladesh artistes and photographs from 1971 showcasing public engagements by the Bangladesh community in Britain to mobilize support for the country’s independence.

Bangladesh High Commissioner to the UK Ambassador Saida Muna Tasneem and the British High Commissioner to Bangladesh Ambassador Robert Chatterton Dickson were also present.

Prior to the dialogue, the Bangladesh Foreign Secretary called on Lord Ahmad of Wimbledon, FCDO Minister of State for South Asia and the Commonwealth at his office.

Masud Momen also had a meeting later with Rushnara Ali, MP, Chair of the All-Party Parliamentary Group on Bangladesh and the UK Trade Envoy for Bangladesh.

The meetings touched upon issues concerning pandemic response, climate change, trade cooperation and diaspora linkages.

The 4th Bangladesh-UK Strategic Dialogue was held in the same week as the earlier meeting between Bangladesh Foreign Minister Dr AK Abdul Momen and his British counterpart Dominic Raab in connection with the former’s official visit to the UK.


 

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Industries Minister Nurul Majid Mahmud Humayun has called upon the Russian entrepreneurs to invest in different sectors, including fertilizer, cement, leather and shipbuilding industries, in the country.

"As Bangladesh is an agricultural country, there is a huge demand for fertilizers here," he said in a meeting with Russian Ambassador in Dhaka Alexander Vikentyevich Mantytskiy at the ministry yesterday.

In addition, trade relations between the two countries could be further enhanced through joint ventures, Humayun said.

In the meeting, they discussed various issues, including the bilateral investment protection agreement, the minister said.

He also emphasised accelerating the signing process of the Memorandum of Understanding (MoU) between the Bangladesh Standards and Testing Institute (BSTI) and the Russian Federal Agency on Technical Regulation and Metrology.

He said the proposed draft agreement has already been submitted to Russia through the Bangladesh Foreign Affairs Ministry.

Russian envoy assured to take necessary steps in this regard.


 

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Bangladesh Ambassador to Serbia, Md Shameem Ahsan discussed the recruitment of Bangladeshi workers with Serbian Labour, Employment, Veteran and Social Affairs Minister Dr Darija Kisic Tepavcevic during a recent meeting at her office in Belgrade on September 09, 2021.

The minister told the ambassador that the Serbian companies are highly interested in hiring skilled and semi-skilled workers from Bangladesh through legal channels.

Acknowledging the historic bonds between Dhaka and Belgrade and the huge potential to strengthen bilateral ties, especially in labour and employment, the ambassador and the minister discussed the possible signing of a memorandum of understanding (MoU).

According to the National Employment Agency of Serbia, 30 work permits were recently issued to Bangladeshi workers.

Fourteen Bangladeshis joined Serbian energy company Bedem recently, and the ambassador also visited their office and interacted with the top managers and the employees.

Bangladeshi workers expressed their satisfaction with the working condition and the packages offered to them.

Shameem, Bangladesh ambassador to Serbia with residence in Rome, was in Belgrade recently to present his credentials to the Serbian President Aleksandar Vucic, said the Ministry of Foreign Affairs on Saturday.


 

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Foreign minister AK Abdul Momen has said that Bangladesh will decide its policy towards Afghanistan independently noting that what India or Pakistan is doing is not that much important to Bangladesh.

‘Bangladesh always decides its foreign policy in the interest of its own and very independently,’ he told BBC Bangla in an interview making it clear that the decision of Bangladesh is not linked with that of any other country.

The foreign minister said Bangladesh always believes in a people’s government that comes through a political and democratic process, and it always extends support to such a government where people’s desire is reflected.

‘We’ll extend support if people’s desire is reflected in the new Afghan government. At this moment, we don’t know as we’re yet to understand the situation in Afghanistan,’ Momen said, adding that things would depend on the action and policy of new Afghan government.

The foreign minister said that there was a perception to get about the people in Afghanistan as what they want.

Responding to a question regarding border killing, Momen said that there was a commitment from the highest level that no one would be killed along the Bangladesh-India border but unfortunately it was still happening.

He said that it was unfortunate for Bangladesh while it was a shame for India as it was happening despite commitment.

‘In principle, the two countries decided that no one should be killed and no live bullets will be used. But it’s happening. We don’t want a single death. It’s the decision but it’s not fully complied yet,’ said the foreign minister.

Asked why the border killing is still happening, Momen suggested the journalist to do investigative journalism as they were not getting a clue.

Responding to a question on the Rohingya crisis, the foreign minister said that four years had passed but not a single Rohingya was repatriated. ‘Myanmar didn’t keep its commitment.’

He said Bangladesh would continue to urging the international community to pressurise Myanmar to take back Rohingyas.

Momen mentioned that Myanmar took back its nationals in 1978 and 1992 but this time Bangladesh was yet to be successful.

He said that they were trying bilaterally, trilaterally and multilaterally to find a solution to the Rohingya crisis.

Momen reminded all that there would be pockets of extremism and radicalism if the Rohingyas’ stay in Bangladesh was prolonged which would hurt the investment of major countries in the region.

The foreign minister expressed displeasure over the UK government’s decision to keep Bangladesh on the red list for entering England.

‘We’ve conveyed our concern,’ he said, adding that it should be a shame for Britain as it was not even taking responsibility or ignoring British-Bangladeshis who got stuck in Bangladesh.

If anyone from a red-listed country enters the UK, he or she must book a quarantine hotel and Covid-19 test which is quite expensive.

 

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Sri Lanka's Capital Alliance (CAL) has recently made a foray into Bangladesh's brokerage business. CAL is Sri Lanka's leading investment bank, offering integrated investment and capital market solutions, and this becomes its first overseas foray.

CAL will hold a majority stake of CAL Securities, the company said in a press release yesterday.

The company's local shareholders include Raihan Shamsi, former CEO of Accenture Bangladesh, and Salahuddin Ahmed, managing director of M&J Group.

"We are delighted to receive formal trading rights and are thankful to the Bangladesh Securities and Exchange Commission and Dhaka Stock Exchange for their support," said Ajith Fernando, chairman of CAL Securities, Bangladesh and group CEO of CAL, Sri Lanka.

Sri Lanka and Bangladesh -- both classified as frontier markets -- have similarities in operating capital markets.

"With our deep experience in Sri Lanka and insatiable appetite for learning and growth, we are confident that we can extend our unique approach towards markets to investors in Bangladesh as well," Fernando said.

"Our focus on creating market-leading insights has been our key differentiator in Sri Lanka," said Deshan Pushparajah, managing director of CAL Securities, Bangladesh and managing director for global markets and investment banking at CAL, Sri Lanka.

"We are excited to bring these unique perspectives and approach to research to Bangladesh as well."


Foreign Minister AK Abdul Momen, the chair of Commonwealth Ministerial Group on Guyana, on Tuesday reaffirmed the proposal of the group for peaceful settlement of the dispute between Guyana and Venezuela through the intervention of the International Court of Justice (ICJ).

''Bangladesh looks forward to steering the Commonwealth Ministerial Group on Guyana to reach a peaceful settlement of disputes through dialogue and international adjudication which also is in line with Bangabandhu Sheikh Mujibur Rahman's visionary foreign policy doctrine," he said.

The foreign minister attended the virtual meeting for the second time during his tenure as the chairman.

Bangladesh took over the chairmanship from South Africa for this Ministerial Group in October last year.

The Group is currently overseeing the long-standing territorial dispute between British Guyana and Venezuela over their maritime territory.

Commonwealth Secretary-General Baroness Patricia Scotland and Foreign Ministers of Antigua and Barbuda, Canada, Guyana, Jamaica and the UK were present in the meeting.

Momen reiterated firm and unswerving support for the maintenance and preservation of the sovereignty and territorial integrity of Guyana.

He assured that Bangladesh would steer the deliberations of this Ministerial Group's work towards a peaceful settlement of the territorial dispute between Guyana-Venezuela.

 

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