Bangladesh-India
ties below potential: WB (The Daily
Star, December 20, 2012)
A new World Bank working paper entitled “Unlocking
Bangladesh-India Trade” argues that economic ties between Bangladesh and India
are far below potential. While the study
documents impressive gains in trade in recent years (exportation of Bangladeshi
products to India has grown 7 fold in the last 11 years and importation of India
goods into Bangladesh has increased 4 fold), Bangladesh still accounts for less
than 1% of India’s imports. The study
estimates that a free trade agreement would lead to a 182% of Bangladeshi
exports. The
full report can be found here.
Migrant
workers drive economy (The Daily
Star, December 19, 2012)
On a discussion in International Migrants Day, Finance
Minister said that Bangladesh's economic development largely depends on
remittance sent by migrant workers, which is one of the sources of earning
foreign currencies. He said that the remittance inflow would cross $14 billion
mark this year. Speakers said that around 25 percent of the total employment
comes from overseas employment, which could be increased to 50 percent in five
years. They stressed the need for technical training and skills in foreign
languages for the labor.
Trade
deficit drops by 21 percent in Jul-Oct (The New Age, December 19, 2012)
According to Bangladesh Bank, the trade deficit of the
country decreased by 20.84 percent in the first four months of the current
financial year as the import of capital machineries, industrial raw materials
and food grains declined in this period. According to the BB data the gap
between export and import earnings stood at $ 2,517 million for Jul-Oct.
Malpractice
threatens shrimp export (Financial Express, December 16, 2012)
Unscrupulous traders have allegedly injected shrimp exports
with a type of gel to increase shrimp weight. Last week, six tones of
adulterated galda shrimp were destroyed and businessmen were fined Tk3.9 million.
The revelations have provoked fears of a repeat of 2009, when Tk1 billion in
shrimp consignments were rejected after the discovery of salmonella, filth, and
antibiotics in shrimp exports. In the aftermath of 2009, Bangladesh shrimp
exporters faced onerous 20% mandatory testing throughout 2010. Shrimp sales have declined 22% compared with
the July-November period of 2011.
Stan
Chart gives scholarships to intellectually-impaired students (The Daily Star, December 16, 2012)
As part of its corporate social responsibility, Standard
Chartered Bank awarded scholarships to 100 low income, intellectually-disabled
students of five schools in Dhaka. Standard Chartered is giving education
scholarships and medical facilities to the poor as part of its efforts to
develop the country.
