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Economy

Bangladesh holding free trade talks with 11 countries

Bangladesh is discussing free trade agreements with 11 countries, Prime Minister Sheikh Hasina said in an exclusive interview, as the South Asian country seeks new means to promote exports once preferential tariff exemptions expire in three years. The prime minister spoke with Nikkei Asia at her official residence in Dhaka ahead of a visit to Japan -- her first in four years -- that starts next Tuesday. During the trip, Hasina and Japanese Prime Minister Fumio Kishida are expected to agree to upgrade bilateral ties to a "strategic comprehensive partnership." This comes as Japan ramps up infrastructure investment in the strategically situated country on the shores of the Indian Ocean, countering China's Belt and Road Initiative.

Income inequality increasing alarmingly

The world is facing an “inequality crisis”. Fourteen per cent of the global population living in 46 countries are facing serious impediments which are directly hampering their ability to progress economically and graduate from the least developed country category. This was observed by the World leaders at the fifth United Nations Conference on the Least Developed Countries held in Doha on 6 March. The double shock of the COVID-19 pandemic in consecutive two years( 2020, 2021) followed by the Russian invasion of Ukraine has been accompanied by an uptick in income and social inequalities, according to the Editorial of the ICC Bangladesh quarterly News Bulletin (Jan-Mar’23) published today.

The 52 years of criminal economy

These two sectors bred some new elite classes who didn’t carry any meaningful social base earlier. A section of uncivilised social parasites, locally known as Jamir Dalal (Land Broker) and Adam Bepari (Manpower Dealer), emerged as the determining factors in the economy. With huge kickbacks, they began to occupy the political spaces also. Thus an immoral process of the economy began to rise, which Dr Akbar Ali Khan defined as ‘Shuyorer Bacchader Orthonity (Economy of Bastards)’. I would rather dare to dub it a ‘criminal economy’.

-- writes A. R. Farrukh Ahamed

Untapped potentials of ‘Blue Economy’

Prime Minister Sheikh Hasina today asked the authorities concerned to stress more on utilizing the untapped potentials of the 'Blue Economy'. The Premier gave the directive while chairing a meeting of the Executive Committee of the National Economic Council (ECNEC) held at the NEC Conference Room in the city's Sher-e-Bangla Nagar area here today. Ministers, State Ministers, Planning Commission members and secretaries concerned attended the meeting. Later Planning Minister MA Mannan and State Minister for Planning Dr Shamsul Alam briefed the reporters about the...

NOCLAR will protect public interest from potential illegal acts

Responding to Non-compliance with Laws and Regulations (NOCLAR) is an international ethics standard for auditors and other professional accountants. It sets out a first-of-its-kind framework to guide professional accountants in what actions to take in the public interest when they become aware of a potentially illegal act, known as non-compliance with laws and regulations, or NOCLAR committed by organizations.

Speakers forwarded these views at a webinar on ‘Responding to Non-Compliance with Laws and regulations: Bangladesh Perspective’ organized by the Institute of Chartered Accountants of Bangladesh (ICAB) on 18 May 2022.

Tapan Kanti Ghosh, Senior Secretary, Ministry of Commerce, GoB joined...

BD most competitive wage market among Asia, Oceania

The Japan External Trade Organization (JETRO), Dhaka Country Representative Yuji Ando today said Bangladesh has the most competitive wage and potential domestic market among the Asia and Oceania areas. The JETRO Dhaka chief said this while handing over a certificate to Deputy Commissioner of Chittagong Customs House Salahuddin Rizvi Mohammad at Chittagong Customs House in front of Chittagong Customs Commissioner M Fakhrul Alam for successful completion of a four-month training programme for fiscal year 2021-22, said a press releas...