Bangladesh enters into Russian Economic Block

Bangladesh is going to sign a Memorandum of Understanding (MoU) with the Russia-lead Eurasian Economic Commission. The agreement is called "Memorandum of Cooperation between the European Economic Commission and the Government of the People's Republic of Bangladesh". Support activities in 18 sectors including agriculture, industry, services, energy and communication will continue, opportunities for labor export will be created in Russia.

This agreement memorandum will be signed on May 31 in Moscow's capital of Russia. This compromise memorandum speaks of mutual assistance in 18 sectors. These are: trade facilities, economic growth and macroeconomic review, strategic policy, customs policies and procedures, assistance for removal of sanitary and phyto-sanitary for vegetable export, financial market, communication, energy policy, agricultural industry, competitive policy, industry, intellectual property, trade Investments in the services sector, consumer rights protection, entrepreneur development, information and technology, government procurement processes, and negotiated labor export and other economic sectors.

Additional Secretary of the Ministry of Commerce Shafiqul Islam said, the invitation has been invited by the Russian Commission for the MOU. To this end, Commerce Minister Tipu Munshi will leave Dhaka on 30 May for Moscow. Commerce Ministry officials said that this MoU will play an active role in the expansion of economic, trade and investment with the European Commission.

In addition to identifying potential new sectors, as well as the barriers to mutual investment and expansion of trade, it will also play a role in removing the obstacles. Apart from this, the labor migration sector will be included in the support sector, due to the opportunities for export of labor in the respective countries from Bangladesh.

The Memorandum of Understanding will be effective in accordance with international law and customs including the World Trade Organization, on the basis of equality, transparency, trustworthiness and mutual respect. According to sources, the Economic Commission, lead by the Russian Federation, is interested in building close relations with Bangladesh in trade and economic sectors.

Apart from Russia, the other members of the commission are Belarus, Kazakhstan, Armenia and Kyrgyzstan. During the previous government, the commission proposed a MoU agreement with Bangladesh on commercial and economic cooperation. Government policymakers view this proposal as very positive.

It is learned that the EUC has drafted the draft of the MoU to make Bangladesh a trade partner and sent it to the Bangladesh Embassy in Moscow. When the proposed draft from the Embassy was sent to the Prime Minister's Office, Prime Minister Sheikh Hasina gave positive comments in this regard and sent it to Economic Relations Division (ERD) for further process. After taking opinions from the various ministries concerned about the ERD, the draft was sent to the Ministry of Commerce to finalize the Memorandum of Commencement.

Commerce Ministry officials said our efforts were continuing to get the duty and quota-free market access in Russia. Now, in the present reality, it is not possible to get this facility alone in the country. Rather, if the MoU is done with the Russian Commission of the five countries, including Russia, it will be helpful in getting duty and quota-free market access for Bangladeshi products in the respective countries.

For this reason, a decision has been taken to offer MoU to EUC Trade and Economic Cooperation. There is huge potential for Bangladeshi products in the Russian market. Export products from Bangladesh have increased in the last five years Apart from the readymade garments in Russia, there are opportunities to export jute, frozen shrimp and potatoes. However, due to the phyto-sanitary problem, the export of potato has stopped in the country.

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BRTC Circular Bus Service in Uttara Dhaka

On Monday, May 27 2019, new circular bus in Uttara has been inaugurated. Mayor of Dhaka North City Corporation (DNCC), Atiqul Islam and mayor of Dhaka South City Corporation (DSCC) Sayed Khokan together inaugurated this service.

Mayor Khokan said in the opening ceremony, "Bangladesh is now a role model of development today. And it has become possible due to the strong leadership capability of the Prime Minister Sheikh Hasina. But public transport and traffic congestion is a major problem in our city. Based on the instructions of the Prime Minister, we are working for improving the lives of the people of this city." DSCC mayor urged the citizens to be more aware of the situation.

DNCC mayor Mr Atiqul Islam expressed hope that this bus service will give relief to the Northern residents of Dhaka city. He also said that this is undoubtedly the news of happiness. There is no public transport option for healthy, moving, dynamic and modern Dhaka. If these buses continue to move freely on the streets, pedestrians will have to walk on the footpath. Before that we need to get rid of the sidewalks.

Dhaka mayor of the northern region also said that the law enforcers should take steps to remove the leguna services from the seven avenues of Uttara area.

In the joint initiative of Dhaka North City Corporation and Dhaka Metropolitan Police, ten number of air conditioned buses of BRTC will run on two routes in Uttara. The minimum fare is 20 taka, maximum 30 taka. Buses on one of the routes are colored green, and another one is colored red.

• From Uttara Passport Office to the House Building via Sonargaon Janapath. The route for red buses starts from Alaol Avenue, and ends at Uttara passport office, having 12 stoppages on both sides of the road.

• From Airport to Uttara sector 12. The route for green buses starts from airport station, and ends up at Uttara sector one, with 19 stoppages in between on both sides of the road. 

Ten buses will cover all the avenues and sectors of Uttara, and run on two separate circular routes.

Ward Councilor Afsar Uddin Khan, Chief Executive Officer of DCC Abdul Hai, BRTC Chairman Farid Ahmed Bhuiyan, Dhaka Transport Coordination Authority (DTCA) Executive Director Khandakar Rakibur Rahman, Additional Commissioner (Traffic) of DMP Mafiz Uddin Ahmed was also present n the ceremony.

Earlier in March, the circular bus service was started in the Dhanmondi- New Market-Azimpur area under the management of BRTC. This service has already got popularity for the local people.

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Exporting Bangladeshi Goods to India is Increasing

Exporting Bangladeshi products to Indian market is increasing. Exporters of Bangladesh exported goods of more than US$ 100 Crore to India in the first 10 months (July-April) of the current fiscal year 2018-19. Narendra Modi's India has reached ninth place among the top 10 exporters of Bangladeshi products.

According to the Export Promotion Bureau (EPB), Bangladesh has exported products of 107 Crore US dollars in the first 10 months of the current financial year, which is 53 percent more than the previous year's assessment period. Before the end of the current fiscal year, the export earnings were 22.87 percent more than the previous financial year.

The EPB data review shows that in the last fiscal year exports to India started to grow. In the last fiscal year, total export of goods worth US$ 87.33 Crore to India. The export growth was more than 29 percent. Currently India has the ninth position in the country's exports from Bangladesh after US, Germany, United Kingdom, Spain, France, Italy, Japan and Canada.

Of course not only exports, import from India is also increasing. In the last financial year, FY 2017-18, the imports from India amounted to US$ 862 Crore, which is 40 percent more than the previous year. As a result, Bangladesh's trade deficit with India stands at $ 775 Crore, which is 42 percent more than the previous year.

An analysis of EPB data shows that export of ready-made garments, soybean oil and processed food helped to export more than one billion dollars in India. Export of garments is jumping on the last fiscal year. Export of soybean oil increased by $ 9 Crore in previous 10 months. Export of plastic products, steel and leather products is also increasing. However, the export of jute and jute yarn, fish etc are down.

From 2011, India gave duty-free access to all products except weapons and drugs from Bangladesh. Although Bangladesh could not utilize it as much, Indian company Lilliput did not paid payments to several garments factories of Bangladesh in 2011. For that, many years clothing exports fell down. But in the last few years, in many cities in India, famous International clothing brand has open many retail outlets that causing increase of garments products export.

Bangladeshi entrepreneurs exported RMG products of $ 12.97 Crore in the fiscal year 2016-17. Export of clothing for the next fiscal year of that increased by 115 percent to $ 27.86 Crore. During the first 9 months (July-March) of the current fiscal year, exports of garments cloth worth $ 40.11 Crore. Although the fiscal year does not end, the export is 43.96 percent. Oven garments are exported more than net garments in the Indian market.

Bangladesh's export earnings from this country exceeded US$ 1 billion for the first time and India is now the ninth best country to export Bangladeshi products. BGMEA president Rubana Haque said, "We export garments in India for a long time. But due to some non-tariff barriers, garment export was not rising at such rate. But the export of garments for two fiscal years has increased. This is definitely a good sign.”

India is a big market where are more than 1.3 billion people. There are enough opportunities to increase our exports to this big market. Therefore, we should focus more to export more to the Indian market. We will be deprived of many opportunities in the European market as Bangladesh is rising from Least Developing country (LDCs) to a developing country. So we have to increase business with SAARC countries. If there is a bilateral agreement with SAARC countries, the export will increase faster.

Former BKMEA's vice-president Mohammad Hatem said that many foreign brands opening sales centers in India. Bangladeshi entrepreneurs have been doing business for a long time with most of them. Apart from those, Indian entrepreneurs who produce clothes and supply in Bangladesh, many of them are making garments products from Bangladesh, especially shirts. Export is increasing in India due to these.

Meanwhile, soybean oil has been exported in good amount till March this year. According to the EPB, the export of soybean oil worth $ 13.84 Crore exported. However, the companies said that the export of soybean oil is now stopped. The government of India has given condition of 30 percent VAT for duty-free oil export. The Bangladeshi exporters are demanding the value addition of soybean oil, but the government of India has not yet taken it into practice.

Soybean oil market in India is very big. Our domestic companies were doing well in export there. But now the export is off due to duty-free tariff. Everyone is expecting that the problem will solve soon.

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Meghna and Daudkandi Bridges Inaugurated | No Trafic Jam in Dhaka- Cumilla- Chittagong Highway

The Second Meghna and Second Meghna-Gomti Bridge (Daudkandi Bridge) has been inaugurated by the Prime Minister Sheikh Hasina on 25^th May 2019, Saturday morning through video conferencing from Ganobhaban. The life-line of Bangladesh's economy, the highly anticipated Dhaka-Chittagong highway (N1) is now feeling better! Since the inauguration, the bridges (Meghna, Meghna-Gomti and Kanchpur) are opened for vehicular movement.

Due to the inauguration of the bridges, the people of the south-east are can return to their home with comfort to enjoy the Eid-Al-Fitr holiday. Nearly seven hundred Crore BD Taka for the construction of the new second Meghna, second Meghna-Gomti Bridge including the second Kanchpur Bridge, have been saved and the construction work has been completed almost seven months before the tentative date.

The Japanese ambassador in Bangladesh Mr. Hiroyasu Ejumi, in the inauguration ceremony, expressed hope that Bangladesh-Japan relations will go much further.

In addition to the second Meghna and the second Gomti-Meghna bridge, Prime Minister Sheikh Hasina inaugurated the Sasek road connecting project, the Konabari and Chandra flyover at Joydevpur-Chandra-Tangail-Elenga Highway, Kaliakoir- Deohata- Mirzapur- Gharinda underpass and Kadda-1 bridge and Baimail Bridge.

According to local sources, from the booth sides more than 35 thousand vehicles are transported daily by this National Highway (N1). To cross the toll plaza of the two bridges passengers faces the traffic congestion. Due to daily traffic congestion, the highway was become a great suffering route. The construction of the second bridges has begun in 2016, to end the suffering of the last five to six years.

For the financial assistance of JICA and the Bangladesh government, the cost was Taka 1,950 crore for the Meghna-Gomti River which is 1,410 meters long with 17 spans and 17.75 meters wide. The second Meghna Bridge of 17.75 meter width and the cost of Taka 1,750 crore which is 930 meters long including 12 spans. Construction of the two bridges ended in the 41st month for almost three and a half years.

Due to the much-awaited inauguration of Meghna and Meghna-Gomati Bridges, there is no traffic congestion on the Dhaka-Chittagong highway from today (25^th May, 2019). Peoples are not going to suffer for hours after hours and in the Eid return home journey, hoping the passengers will not suffer further. It was found that where there was a congestion hourly traffic jam on the previous day, there was absolutely no traffic congestion on the highway except toll collection time in the same place.

It is known that in any long holiday breaks, including Eid every year caused long traffic congestion when the people's back home. The traffic congestion sometimes crossed the Kanchpur Bridge at the Dhaka Sylhet highway intersection. Last year during the Ramadan, the traffic congestion hit the Mayor Hanif Flyover of Dhaka-Narayanganj under pressure from the people to return home. But the traffic department said that there will be no more such problem again.

Passenger Mr. Ariful traveled on this route told, "I come to Dhaka every week for my business purpose. Before that it took hours after hours to cross the road. Before one day, we had to pass hours in one place. After the bridge started today, I crossed in a moment. Hopefully we will not suffer the trouble of Eid festival”.

The bus driver of Dhaka-Cumilla Tisha Exclusive service told that the bridges have introduced and they are really happy. They had suffered a lot and wasted lots of time before the inauguration. Sometimes even days have passed; they had Iftar and Sahari on the road. It is expected that there will be no more traffic jam on this route.

There is a Joint Expansion in the second Meghna Bridge of 930 meters long. As a result, there will be no obstruction in the movement of this bridge. Vehicles will be able to move on this bridge very quickly. The old Meghna Bridge is of two lanes but the new is of four lanes. That means total six lanes in two bridges. Vehicles with four lanes of roads can move to six lanes in two bridges. As a result, due to the bridge there will be no traffic congestion will occur. The bridges are now free of traffic.

Every year the local administration take additional police help in controlling the traffic congestion of this route. This year, the Second Meghna, Second Meghna-Gomti Bridge (Daudkandi Bridge) and Kanchpur Bridge is ready, so they are expecting that this year there will be no traffic congestion.

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Future Mega City RAJSHAHI

Rajshahi City Corporation (RCC) and China's state-owned Company Power China signed a Memorandum of Understanding (MoU) for the development of Rajshahi in different sectors by creating a master plan. Under the agreement, China will create Master plan within the next three years in eight sectors including construction of dams on the bank of Padma River and satellite town etc will be built. Rajshahi will be a famous Mega city in the country.

There will be various Entertainment centers, specialized hospitals, Eco-park and Science City etc. Expansion of Hazrat Shah Makhdum Airport, infrastructure development and technical facilities will be done. In addition, Suarez drainage system and waste management, urban transport system will be developed in the city area.

The agreement has been signed recently by Mayor AHM Khairuzzaman Liton for the Rajshahi City Corporation and Mr. Han Kun, Business Development Manager of Power China, for the development of these projects. As a result, the door to the vast potential of the development of Rajshahi base on a Master plan was unveiled. The overall picture of Rajshahi area will be changed after implementation of the 50-year long-time Master Plan.

Mayor Khairuzzaman Liton said, at present the size of the city corporation is small. The size of the city corporation will be expanded to around 410 sq km. Power China will create a master-plan based on eight sectors identified in this large area to provide people all the facilities. Under the agreement, a master plan will be prepared within next three years. Later, projects will be implemented one after another on priority basis within next 50 years.

Meanwhile, 40 mega projects are now implementing in 8 districts of Rajshahi division with the cost of more than 1.25 billion BD Taka. The Ruppur Nuclear Power Plant is being constructed at a cost of more than BDT 1,13,092 crores on 990 acres of land in Ishwardi, Pabna.

The construction of Bangladesh Silicon City (Hi-Tech Park) is going on fast in 31.63 acres of land in Rajshahi City with a cost of BDT 281.91 crore. After completing its construction in June this year, there will be employment opportunity for more than 14 thousand people in this Hi-Tech Park.

Bangabandhu Sheikh Mujibur Rahman Novo Theater is being built on 2.30 acres of land at Rajshahi City at a cost of BDT 222 Crore. Construction work will be completed in June 2020.

200 bed Rajshahi Shishu Hospital is being constructed in Rajshahi City on 2.44 acres of land at a cost of 32 crore.

The Roads and Highways Department is implementing seven different projects worth BD Tk 2136.37 crore in Rajshahi division. So far, total 16 percent of all these projects have already been completed.

Bangladesh Water Development Board is implementing eight mega projects in the northwestern part of the country at BD Tk 2260.14 crore.

The Department of Agricultural Extension of Bangladesh is implementing eight projects worth BD Tk 2946.62 crore in Rajshahi.

The Department of Public Health Engineering is implementing six projects worth of BD Tk 35.96 crore.

The Bangladesh Railway is implementing four projects at the cost of Tk. 1829.76 crore.

The metropolitan city Rajshahi is a major urban, commercial and educational area of Bangladesh which is located on the north bank of the Padma River. After completion of all the projects this city will be one of the beautiful mega city in the country.

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Payra Port and the Changes in Surrounding Area

The Port of Payra is a small seaport which is located in southern part of Bangladesh. It was established by an Act of Parliament in 2013. The port was officially inaugurated in 2016. It is located on the Ramnabad Channel near the Bay of Bengal.

The fate of millions of people in the coastal area surrounding the Payra Sea Port will be changed soon. After completion of the Padma Bridge and launch of the Payra sea port, the progress that will be started in this region will benefit the local people as well the whole country.

Just after the revised Padma Bridge project in 2011, the wind of change in the west part of the Padma Bridge took place. On November 19, 2013, the Prime Minister Sheikh Hasina laid the foundation stone of the third seaport of the country in Kalapara under Patuakhali district, adding new dimensions to this change.

The entrepreneurs, industrialists, group of companies of the country have already purchased land on both sides of the highway from Barisal to Kuakata to Payra sea port starting from the west bank of the Padma River. Some planning to build RMG industries, some planning to build other industries, Housing satellite city and some are planning to build wear house etc.

Many people have bought huge quantities of land to build satellite city, housing estate etc. Entrepreneurs said that from Barisal to Piara to Kuakata, a large industrial estate will be build in the near future. Millions of people will be employed here. Trade and business will expand. Barisal will be an industrial-economic based zone.

In view of this, peoples are bought acres of land and started development beside Mawa - Barisal - Kuakata highway. The Prime Minister Sheikh Hasina's conclusive decision has resulted in the sale of land from Barisal to Paira port on the two sides of the highway due to the Payra sea port. At present there is no land for sale! The entrepreneurs bought the land for the benefit of the port beforehand.

Many development works have been started in Kalapara due to the Payra harbor. Because of this, the people of the area are enjoying the benefits of increase in the value of the land. Earlier the land which was only 30 thousand Taka per Satanhsha, now the same land has been increased to Taka 3 lac per Shatangsha.

Chairman of Payra Seaport Authority, Commodore M. Jahangir Alam said that the trade and commerce of the area spread through the seaport. Without the port, such industries do not run, except for the industry, the port does not run. Industries and port are complementary to each other.

So, in the next few years, hundreds of garment and industrial establishments will be built in this area to get the benefit of the port. It will open the fate of millions of people in this region. The organizers of Barisal Chamber have started preparations to set up the industries in Barisal and southern districts before starting the port in 2023.

For more details please visit the official website of Payra Port Authority.

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The Asian Highway opening new doors of Industrialization in Sylhet

The Asian Highway will open new opportunities for the backwardness of industrialization in Sylhet division. If two roads ‘Sylhet – Tamabil’ and ‘Sutarkandi – Sylhet’ are connected with the Asian Highway, then there will be a revolutionary change in the economy and road connectivity in the area which will create opportunity for domestic and expatriate investment. The project to upgrade the Sylhet - Tamabil highway into six lanes to join the Asian Highway has already been taken. Besides, the Sutarkandi - Sylhet road has also been connected to the Asian Highway.

In order to upgrade the Sylhet-Tamabil existing road into a six lane highway (including two service lanes) to connect the Asian Highway, last year a project of BDT 3,885 crore 72 lac was approved in the Executive Committee of the National Economic Council (ECNEC). It has been taken as a 'land acquisition and utility transfer project' aimed at strengthening the Asian Highway network to speed up industrial and trade in the area.

As per the info from Roads and Highways Department's office the acquisition of the land is currently underway. As part of the Asian Highway, this road will be connected with Meghalaya state in India via Tamabil of Sylhet Sherpur starting from Kanchpur, Narshingdi. Apart from this road, the Shewla – Charkhai - Sylhet road is going to be connected with the Asian Highway. The highway will be entered by the Sutarkandi land port in India and the in Shewla of Beanibazar upazila of Sylhet. Then the road will come to Sylhet city Kinbridge via Golapgonj of Sylhet. From there, the Asian Highway will reach Kanchpur via Chandipul.

Since March, the feasibility study, technical and social studies of this highway have been started. Meanwhile, a technical group has completed survey of the existing regional road between Shewla - Sylhet. However, the map of this road may have some changes in the end. In order to avoid traffic congestion, the road cannot be connected to the existing Sylhet-Dhaka highway by going through the Parairchak bypass from Srirampur in South Surma.

The approximate length of this highway can be around 280 kilometers from Sylhet's Sheola to Narsingdi’s Kanchpur. Roads and Highways Department Sylhet executive engineer Ritesh Barua said that the supervision of Sheola – Sylhet – Kanchpur - Asian Highway Project is being supervised by Dhaka office. In order to implement the Highway, the survey is underway. The number of land acquisition, the number of owners of the acquired land, the number of deployments everything is monitoring proper ways. Survey activity is also underway to compensate the acquiring land.

After completion of these activities, the construction of the highway will start. However, before connecting Sylhet-Tamabil and Sylhet-Sheola road with the Asian Highway, work on Sylhet-Dhaka six lane highways has to be completed.

If two roads are connected with the Asian Highway, it will have a very positive impact on Sylhet's socioeconomic system. When combined with the Asian Highway, the market of Bangladeshi goods will expand further in seven states of India, situated near Sylhet border. If the road communication system is developed and simplified, more opportunities will be created for the export of goods in the states of India called 'Seven Sisters'.

Besides, businessmen also think that trade relations and communications with China, Bhutan, Nepal and Myanmar will be stronger. Merchants and Businessmen of Sylhet area think that it is known the Asian Highway can bring the most benefits of industrialization in Sylhet. As the road communication system is easy, the industries and factories in Sylhet can be developed to utilize the huge potential of exporting Bangladeshi products to India's Seven Sisters. Especially if the Sylhet Economic Zone, the Sreehatta Economic Zone and Sylhet-based Hi-Tech Park are implemented then more industries will be established here with local and foreign investments.

Using the Asian Highway, the products produced by these economic zones will be easy to export to other countries in Asia, apart from SAARC countries. In addition to increasing the export revenue, opportunities for employment of a large number of people will also be created.

If Sylhet is connected with Asian Highway, then road connectivity of Bangladesh with the different Asian countries will increase. Entrepreneurs are very much interested due to availability of raw materials, capital and investment in Sylhet, but for lagging communication they were not interested. But now, the situation is changing.

If you can get involved in the Asian Highway, there will be a huge potential for tourism industry as well as huge potential for tourism in the area. Besides, there is a possibility of getting a large number of patients and students from Seven Sisters of India, if we can build international standards medical centers and educational institutions in Sylhet.

Sylhet is one of the most backward areas of the country in industrialization. Several hundred thousand people in Sylhet are staying in different Western countries including Britain and the United States. But some of these wealthy expatriates did not come to invest in Sylhet, but for the sake of building a royal style house for them. The economy of Sylhet could not be created in the national economy due to the lack of proper investment environment.

Hopefully, the linking of two roads in Sylhet with the Asian Highway has created the possibility of bringing good news for the people living here. If this happens, the expatriates will be interested in investing in their root-related township. The Asian Highway will be the light of hope for a positive change in the economy of Sylhet or the country - this is the only expected.

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