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Tag Archives: trade

Spice prices in Bangladesh up ahead of Eid-ul-Azha

Dhaka – The demand for spices, mainly used in meat dishes, usually soars during religious festivals like Eid-ul-Azha when Muslims across the country sacrifice millions of animals. And there is no exception this time. The prices are high even though officials at the Department of Agricultural Extension (DAE) say the supply is adequate. Traders blame wholesalers for the price hike ... Read More »

South proposes strengthening of WTO to promote development

Geneva, Jul (D. Ravi Kanth) – India, South Africa, and seven other developing and least-developed countries on Thursday (11 July) challenged the one-sided WTO reform proposals advanced by the US and other developed countries, and tabled, for the General Council, their own proposal for “strengthening the WTO to promote development and inclusivity.” In a five-page proposal submitted to the General ... Read More »

Seoul-Dhaka relations to reach new heights: South Korean PM

Dhaka, July 14 – South Korean Prime Minister Lee Nak-yon yesterday said the relation between Bangladesh and Korea will reach to a new height through cooperation in various fields of business and trade. “I am moved and impressed by the development Bangladesh has made. It has been possible due to the incredible will of Bangladesh under the leadership of Prime ... Read More »

Huawei calls on US: Lift export restrictions

Shenzhen, Jul 12 (AP/UNB) — The chairman of Huawei said Friday the Chinese tech giant has yet to see any benefit from President Donald Trump’s promise to allow U.S. companies to sell some components to the company and called on Washington to remove it from a security blacklist. The “unjust and unfair” decision to add Huawei Technologies Ltd., the biggest ... Read More »

‘Back on track’: Trump, Xi seal trade war truce

Osaka, Japan, June 30, 2019 – US President Donald Trump on Sunday hailed trade talks with his Chinese counterpart Xi Jinping as “far better than expected” and vowed to hold off on further tariffs as negotiations continue. “The quality of the transaction is far more important to me than speed. I am in no hurry, but things look very good!” ... Read More »

China will oppose attempts to suppress its dev, says envoy

Geneva, 13 Jun (D. Ravi Kanth) – China is ready to offer a package of market access concessions to the United States for reaching an agreement in the trade war launched by Washington, but will fiercely oppose attempts to “demonize” and “suppress” China’s ongoing developmental efforts, said China’s new envoy to the United Nations in Geneva on 13 June. The ... Read More »

Dr Kamal blames paddy price on Irresponsibility, policy gap

Dhaka, May 22 (UNB) – Gonoforum President Dr Kamal Hossain on Wednesday alleged that farmers are not getting the fair prices of paddy due to the lack of an agricultural policy and government’s “irresponsibility”. “It’s unimaginable that farmers are being punished for bountiful paddy production. They’re now being forced to set fire to paddy fields for not getting the fair ... Read More »

Regulatory duty increased to discourage rice import

Dhaka, May 22 (UNB) –The government has increased the regulatory duty on rice import to 25 percent from the existing 3 percent, aiming to discourage its import following a drastic fall in rice prices in the country. The National Board of Revenue (NBR) issued a circular in this regard on Wednesday with immediate effect. Besides, the circular said, the importers ... Read More »

Google says services on Huawei phone still will function

Beijing, May 20 (AP/UNB) — Google is assuring users of Huawei smartphones the American company’s basic services will work on them following U.S. government restrictions on doing business with the Chinese tech giant. Google, a unit of Alphabet Inc., said Monday it is complying with and “reviewing the implications” of the requirement for export licenses for technology sales to Huawei ... Read More »

Huawei has immediately lost access to Android and Google

NEW YORK (Reuters) – Alphabet Inc’s Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday, in a blow to the Chinese technology company that the U.S. government has sought to blacklist around the world. Holders ... Read More »

US takes back signature on Arms Trade Treaty

UNITED NATIONS, Apr 29 2019 (IPS) – The United States dropped a political bombshell when President Donald Trump announced his administration would withdraw from the historic Arms Trade Treaty (ATT) which the former Obama administration signed in September 2013. “We are taking our signature back”, said Trump April 26, addressing a meeting of the National Rifle Association (NRA), one of the ... Read More »

EU drive for trade liberalisation adds to tensions in Tunisia

by Werner Raza, Jan Grumiller and Bernhard Tröster The European Union’s disproportionate pressure for trade liberalisation risks exacerbating political strains in the last democracy of northern Africa. Tunisia is the only country in northern Africa in which a democratic political system still prevails. The country has been undergoing a difficult transition since it initiated the ‘Arab spring’ in 2011. More ... Read More »

Incompetence and inability to run WTO secretariat alleged

DG did not read the report issued by WTO-IMF-WB at Bali Geneva, 17 Oct (D. Ravi Kanth) – The WTO Director-General Roberto Azevedo said on Tuesday that he has not had the opportunity to read the report on “Reinvigorating Trade and Inclusive Growth” prepared by his secretariat along with the World Bank and the International Monetary Fund, which calls for ... Read More »

‘A safe, stable Bangladesh is crucial for investment’

Dhaka – US Ambassador in Dhaka Marcia Bernicat said on Thursday the government must work to reassure foreign investors that it is taking all appropriate measures to ensure the security of their factories and personnel in the wake of recent terror attacks in Bangladesh. “A safe and stable Bangladesh is crucial to attracting further investment and continuing economic growth to ... Read More »

EU sharply criticised over new trademarks directive

Geneva (Kanaga Raja) – Several developing countries – Brazil, India, South Africa, China and Indonesia – took the European Union (EU) to task over its new Directive aimed at harmonising the provisions of trademark laws in the EU member states. The new directive, they said, could impose restrictions on legitimate shipments of goods, in particular essential generic medicines, while in ... Read More »

Dutch-Bangla Expo-2016 on Sept 28

Dhaka – A two-day trade fair titled ‘Dutch-Bangla Expo-2016’ will be held in the Netherlands on September 28-29 aiming to strengthen trade and investment ties between the two countries. Bangladesh Embassy to the Netherlands and Dutch Bangla Chamber of Commerce and Industry (DBCCI) will jointly host the fair at the Amsterdam RAI Exhibition and Convention Centre. Read More »

Traders demand retention of ‘Package Vat’

Businessmen staged a one-hour human chain programme across the country on Monday demanding retention of ‘Package Vat’ in the new VAT (value added tax) law which is scheduled to come into effect on 1 July next. Traders in Old Dhaka formed a human chain keeping their business establishments shut from 12 pm-1 pm.Earlier, Bebosayi Oikya Forum (United Forum of Businesses), ... Read More »

Soaring prices ahead of Ramadan irk BNP

Dhaka – BNP on Sunday alleged that a business syndicate ‘belonging to the ruling party’ has started raising unusually the prices of various commodities, including garlic, onion, gram and vegetable, ahead of Ramadan, unb news agency reported. Speaking at a press briefing at BNP’s Nayapaltan Central office, BNP senior joint secretary general Ruhul Kabir Rizvi also said the government has ... Read More »

BD actively considering TFA ratification: ICCB

Bangladesh is ‘actively considering’ to ratify the Trade Facilitation Agreement (TFA) to allow an easy flow of goods and lowering the costs of doing business across borders. “In order to become middle income country by 2021, Bangladesh has to ensure full facilitation for promotion of trade and investment,” said the editorial of the current news bulleting of the International Chamber ... Read More »

Cargo owners call off strike

The cargo owners who went on an indefinite strike demanding rational fixation of workers minimum wage withdrew their strike on Monday upon the government’s assurance of meeting their demand. “As Shipping Minister Shajahan Khan have assured us that a committee, headed by an additional secretary, will soon fix workers’ wage rationally we have withdrawn our strike,” said Cargo Owners’ Association ... Read More »