Bangladesh - Latest News/Current Events, Economic Overview & Trade Relations
Quick Facts about Bangladesh
| Official Name | People's Republic of Bangladesh |
| Capital | Dhaka |
| Location | Southern Asia, bordering the Bay of Bengal, between Burma and India |
| Area | total: 144,000 sq km land: 133,910 sq km water: 10,090 sq km |
| Climate | tropical; mild winter (October to March); hot, humid summer (March to June); humid, warm rainy monsoon (June to October) |
| Terrain | mostly flat alluvial plain; hilly in southeast |
Editor PicksBrowse Asia News Archive
Jamuna Oil sold off its 1.58.200 shares on debut
Bangladesh state-owned oil marketing company Jamuna Oil increased about 95 times from its face value on debut Wednesday.
Bangladesh state-owned oil marketing company Jamuna Oil increased about 95 times from its face value on debut Wednesday. "It is the reflection of over-enthusiastic investors for the SoE's shares," said Yawer Sayeed, managing director and chief executive officer of the Aims of Bangladesh. The price level was irrational, he said adding that "We, however, welcome the entry of the SoE in the capital market."read source article
Cheap Rice for Bangladesh Workers
The government in Bangladesh has decided to cut the price of rice by as much as 15 percent for millions of garment workers in the country.
The government in Bangladesh has decided to cut the price of rice by as much as 15 percent for millions of garment workers in the country. The global economic crisis has dwindled the demand for the country's number one export, creating a surplus in the supply of the good. Selling it at a lower cost will not only ensure that inventories don't accumulate and eventually go to waste, but it also helps the financial situation of millions of workers who make less than $1 a day.DSE Index Back Above 2600-mark as Stocks Rally
The Dhaka Stock Exchange (DSE) rallied passed the 2600-mark as stocks continued to rally for the second-straight day.
The Dhaka Stock Exchange (DSE) rallied passed the 2600-mark as stocks continued to rally for the second-straight day. The DSE closed at 2604.72 with a gain of 30.24 points. The rally has been accredited to various measures led by the government - in particular state-owned financial institutions- in order to boost the confidence of investors. This news comes despite eight of the top ten gainers coming from the Z-category. Despite majority of the top-gainers coming from the Z-category overall the DSE General Index saw 179 out of 268 traded companies gain, whilst 83 declined and six remained unchanged.read source article
Bangladesh: Govt to Take Steps For Improving Communication System
Bangladesh's Communication minister has announced plans to improve the country's communication system in an effort to further expand trace and commerce within the country.
Bangladesh's Communication minister has announced plans to improve the country's communication system in an effort to further expand trace and commerce within the country. The minister further stated that while seeking to improve economic relations with India, Bangladesh realized the need for development of road and rail communications between the two countries. Projects to ameliorate transportation infrastructure between the two countries will also be included in the Ministry's future plans.US Fund Invests $67m in Bangladesh
Bangladesh's second biggest drug maker, Beximco Pharmaceutical, has received a $67 million investment from a US equity fund to boost production and exports.
Bangladesh's second biggest drug maker, Beximco Pharmaceutical, has received a $67 million investment from a US equity fund to boost production and exports. The investment marks the largest investment ever for Bangladesh's booming pharmaceutical sector. Beximco Pharmaceutical vice-chairman said, "The investment by a US fund reflects the tremendous confidence shown by foreign investors in the Bangladesh market."read source article
Asia Pharma Expo-2009 kicks off in Bangladesh's capital
The 2009 Asia Pharma Expo has begun in the capital of Bangladesh, Dhaka.
The 2009 Asia Pharma Expo has begun in the capital of Bangladesh, Dhaka. The annual event is held for world class pharmaceutical companies to display their products on a global stage. Nazmul Hassan, Secretary general of Bangladesh Association of Pharmaceutical Industry, has said "it is an event where all pharma sector insiders from across the world are invited to participate to share knowledge to further promote their position in global market." The event is a three day function attracting more than 400 pharmaceutical companies from 32 different countries. It is expected that over 8000 pharmaceutical professionals from around the globe will attend the event which will wrap up on Saturday.Browse Asia News Archive
Trade Agreements
Global System of Trade Preferences among Developing Countries
Algeria
Argentina
Benin
Bolivia
Brazil
Cameroon
Chile
Colombia
Cuba
Ecuador
Egypt
Ghana
Guinea
Guyana
Iran
Iraq
Libya
Mexico
Morocco
Mozambique
Nicaragua
Nigeria
Peru
Sudan
Tanzania, United Republic Of
Trinidad And Tobago
Tunisia
Venezuela
ZimbabweThe Global System of Trade Preferences arose out of the United Nations Group of 77. The Group first appeared interested in 1976 to develop a global system of trade for developing countries. Over years of negotiations, the agreement was signed by the participating members of the Group of 77. The members are currently looking to expand their economic ties to other developing countries in Asia, Latin America and Africa. http://www.unctadxi.org/templates/Page____6207.aspx
South Asian Free Trade Area
Introduced at the South Asian Association for Regional Cooperation summit, the South Asian Free Trade Area created a free trading zone that reaches 1.4 billion people. The SAFTA contains zero customs duty on practically all products. http://www.saarc-sec.org/data/summit12/saftaagreement.pdf
Trade Organizations
Bay of Bengal Iniative for MultiSectoral Technical and Economic Cooperation (BIMSTEC)
The Bay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation involving a group of countries in South Asia and South East Asia. The member nations of this group are: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
Centre on Intergrated Rural Development for Asia and the Pacific (CIRDAP)
The Centre for Integrated Rural Development for Asia and the Pacific (CIRDAP) is a regional intergovernmental and autonomus organization
South Asian Association for Regional Cooperation (SAARC)
The South Asian Association for Regional Cooperation (SAARC) is an economic and political organization of eight countries in Southern Asia. It was established on December 8, 1985 by India, Pakistan, Bangladesh, Sri Lanka, Nepal, Maldives and Bhutan. In April 2007, at the Association's 14th summit, Afghanistan became its eighth member.