An apparel factory in Bangladesh. Photo: BBN file photo
Dhaka, Bangladesh (BBN) - The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Export: Bangladesh yet to fully tap Asian markets
Bangladeshi exports to Asian countries are still low due to absence of proper preferential trade agreements and quality products, even though there are huge trade opportunities in the region. Exporters and trade analysts say that removing non-tariff barriers, signing trade-friendly bilateral agreements and proper usage of preferential trade deals can boost Bangladesh’s exports to the region.
Farm growth slows down
The growth of the country's farm sector has slowed down over the last five years and an expert from the International Food Policy Research Institute (IFPRI) attributed this largely to the fall in rice production growth. The sector registered a yearly growth of 2.3 percent in 2012-16, down from 4.7 percent in 2007-11. In the past decade, the yearly rice output growth was 2.5 percent.
ADP spending only at 0.58pc in July
Progress in implementation of the annual development programme remained on the lower track in the first month of the current fiscal year as 21 ministries and divisions could not spend a single penny in the month, according to the data of the Implementation Monitoring and Evaluation Division of the planning ministry.
Ctg customs to auction off abandoned cargoes
Chittagong Customs House is set to expedite the auction of abandoned cargoes with a view to clearing the jammed port yards. As of yesterday, a total of 5,800 TEUs (twenty feet equivalent units) of loaded containers, imported between 2013 and July this year, are lying on the port yards.
Bangladesh’s stocks witness mild correction
Bangladesh’s stocks witnessed a mild correction on Wednesday, after gaining two straight sessions as some investors booked profits ahead of Eid Festival. Dealers said the some investors opted booking some profits on stocks that saw significant gains in the past two sessions, as Eid festival nears. There are only six trading sessions are left before Eid-ul-Azha vacation.
Bangladesh looking to sign Free Trade Agreement with Turkey
A MoU for Free Trade Agreement (FTA) was signed with Turkey on Wednesday at the Turkey-Bangladesh Business Forum – 2017. FBCCI’s First Vice President Sheikh Fazle Fahim and Turkish Exporters’ Assembly member of sector council Basaran Bayrak signed the agreement. Speaking at the forum, Commerce Minister Tofail Ahmed said: “Bangladesh is very interested to sign the FTA with Turkey which will increase trade and commerce.
24 more items in queue to get GI registration
Some 24 products are in the queue for getting geographical indication certificates to be identified as products of Bangladesh after Jamdani and Hilsa, officials of the Department of Patents, Designs and Trademarks said. Jamdani, Bangladesh’s one of the finest textiles, received the country’s first GI product certification while Hilsa is set to get the recognition today, they said.
Another 1 lakh tonnes of rice on way
The government has given the go-ahead to import 1.5 lakh tonnes of food grains to boost stocks and tackle a recent price spiral. Yesterday, the cabinet committee on purchase approved three deals on food grain import, including 1 lakh tonnes of wheat and 50,000 tonnes of boiled rice.
BBN/SSR/AD