Bangladesh’s trade with other countries may suffer as foreign shipping lines are facing difficulties in remitting foreign currencies from the country because of a dollar crisis, speakers said yesterday. 

Bangladesh Bank today extended the deferral support for another six months to settle the import orders of industrial raw materials, agricultural equipment and chemical fertilisers.

Bangladesh is failing to take full advantage of its export potential because of insufficient logistics infrastructure, said Nihad Kabir, chairperson of the Business Initiative Leading Development (BUILD).

The Middle Eastern countries are going to be major garment export destinations for Bangladesh as the local apparel manufacturers are now receiving a lot of queries from the buyers of the region, said Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Bangladesh Bank today said cases of under and over-invoicing of imported and exported items came to its notice during specials audit.

The apparel industry and other major export sectors of Bangladesh are being left with unsold products due to reduced buying orders from abroad, according to various businesspeople.

The negotiation between Bangladesh and Japan for signing a free trade agreement (FTA) or an economic partnership agreement (EPA) should start as soon as possible, Japanese Ambassador ITO Naoki said today.

Around 52,500 tonnes of wheat reached the outer anchorage of Chattogram Port through a cargo ship called Magnum Fortune on November 9.

The Bangladesh Bank today said no money changer in the country will be allowed to keep over Tk 50 lakh in their vault a day.

Bangladesh firm JMI Export Import Company Ltd has won a government contract to import 12,500 tonnes of sugar worth Tk 65.98 crore from Brazil and supply it to the Trading Corporation of Bangladesh.

Western Marine Shipyard Limited posted losses in the financial year that ended on June 30.

The external factors are not only responsible for Bangladesh’s present economic volatility, rather there are some issues which remained unattended for a long time such as low revenue collection, absence of quality public expenditure and the non-performing loans, said noted economist Debapriya Bhattacharya today.

RFL Group today launched Rainbow Spray Paint to grab a pie of the Tk 600 crore local market and cut the country’s import dependency for the product.

Bangladesh plans to start commercial export of mangoes to Japan and European countries from 2023, Agriculture Minister Muhammad Abdur Razzaque said today.

There is nothing to fear about foreign investments in Bangladesh’s ports as the government is determined to serve the country’s interest first before accepting any new investment, State Minister for Shipping Khalid Mahmud Chowdhury said today.

The Gubrakura-Karaitali land port in Haluaghat upazila of Mymensingh could go into full-fledged operation next month as the construction of all necessary infrastructure was completed last month, according to officials.

Capital dredging at Payra port began today just after the inauguration of the project by Prime Minister Sheikh Hasina, said Rear Admiral Mohammad Sohail, chairman of the Payra Port Authority.

Daily essential commodity and raw material importers have called for proper management in the ports to bring an end to the harassment of the customs and shipping agents.

The government should rationalise the existing tariff structure, as Bangladesh will face a few challenges in case of giving subsidies after its graduation to a developing nation, said Rizwan Rahman, president of Dhaka Chamber of Commerce and Industry (DCCI).

The bilateral trade between Bangladesh and Vietnam hit $739.89 million in fiscal year 2020-21 and it could be enhanced to $2 billion through mutual cooperation, exchange of business delegation and joint research.