Nepal’s 100 items may get duty-free entry to Bangladesh

Bangladesh may give Nepal a duty-free access for 100 of its products, especially vegetables and agricultural ones, as those have a higher demand in Bangladesh, said an official of the commerce ministry of Bangladesh yesterday. On the other hand, Bangladesh sought from Nepal a duty cut on exports of electronics goods, pharmaceuticals and agro-processed food items, said Commerce Secretary Ghulam Hussain.
Currently Bangladesh and Nepal are in talks to boost bilateral trade through a reduction in duties in overseas trade.
In the ongoing fourth secretary-level meeting in its capital Kathmandu, Nepal also demanded transit facility for smooth transportation of goods between the two countries, said the official.
In the discussion, which began on Sunday, Nepal also called upon Bangladesh to sign the Double Taxation Avoidance Agreement as many Nepalese students come to Bangladesh for higher studies. Nepal has already signed such a deal with India.
“During the meeting Nepal proposed allowing a duty-free access of 100 of its products, especially farm and vegetables,” Hussain told The Daily Star over telephone from Nepal.
“We are in talks now. Nothing is finalised yet. Nepal demanded the duty-free benefit. We have formed some committees for conducting feasibility studies on the demand,” he said without elaborating further.
An eight-member Bangladeshi delegation is in Nepal to attend the secretary-level meeting and to discuss bilateral trade issues. Hussain is leading the team, which returns home today.
As lentil is the major export item of Nepal, the country particularly demanded the duty-free access for lentil and tomato as its exporters face difficulties while exporting these produce to Bangladesh due to higher duties.
Another senior official of the commerce ministry said Bangladesh wants Nepal to use Mongla Port instead of premier Chittagong Port, which is already burdened with cargoes.
Trade between the two countries is in favour of Nepal as Bangladesh imports bulk lentils from Nepal.
Bangladesh exports electronics goods, garment items, agro-processed food items and pharmaceuticals products to Nepal.
According to data from the commerce ministry, Bangladesh exported goods worth $10.84 million to Nepal in fiscal 2010-11, while imported products of $49.00 million.

-With The Daily Star input

Related News

Berger Paints offers ‘Mr. Expert Damp Guard’

Business Desk : dhakamirror.com Berger Paints Bangladesh recently launched a product called “Mr. Expert Damp Guard”, saying it protects homes from damages possible from damp conditions.  Rupali Chowdhury, managing director, and Arifin Shuvoo, brand ambassador of Mr. Expert Damp Guard, inaugurated the product at Le Meridien Dhaka, said a press release. “With this new product ... Read more

Ceramics show begins November 24

Business Desk : dhakamirror.com In an effort to boost export revenues, the Bangladesh Ceramic Manufacturers and Exporters Association (BCMEA) is holding a three-day expo from November 24–26. The expo is scheduled to take place in the International Convention City Bashundhara in Dhaka, and organizers anticipate participation from some 200 brands from 15 countries, including the ... Read more

H&M’s Bangladesh plan is big

A senior official at the Swedish retail giant says Business Desk : dhakamirror.com H&M has a big plan for sourcing from Bangladesh, but prices will rise by up to 12% after the country graduates from the least-developed countries group in 2026. Bangladesh will lose preferential market access and face 10-12% export duties after becoming a ... Read more

‘One Country, One Rate’ initiative of BTRC wins global honor

The award is presented by ASOCIO in recognition of introducing a non-discriminatory ‘one country one rate’ tariff in Bangladesh News Desk : dhakamirror.com Bangladesh Telecommunication Regulatory Commission’s (BTRC) steps to ensure affordable broadband internet got global recognition as its internet at a flat rate initiative, ‘One Country, One Rate,’ won the ASOCIO-2022 award in the ... Read more

Bangladesh produced 2.51 lakh tonnes of shrimp in FY21: minister

Business Desk : dhakamirror.com Bangladesh produced 2.51 lakh tonnes of shrimp in the 2020-21 fiscal year, and the country’s export income has increased in recent years despite the global recession and Covid-19 pandemic, according to Fisheries Minister SM Rezaul Karim. He spoke at the InterContinental Dhaka in the capital during the closing ceremony of the ... Read more

Bangladesh attends Fashion World Tokyo

Business Desk : dhakamirror.com Bangladesh attended Fashion World Tokyo Autumn 2022 on October 18-20 in Tokyo, Japan. Bangladesh’s Ambassador to Japan Shahabuddin Ahmed opened the Bangladesh Pavilion at Tokyo Big Sight on 18 October 2022, according to a release issued by the embassy there. This is the largest trade show for the fashion industry in ... Read more

StanChart and Brac University to establish curriculum

Business Desk: dhakamirror.com Standard Chartered Bangladesh and Brac University signed a memorandum of understanding recently to develop a curriculum on financial crime and compliance for both undergraduate and graduate students. The aim is to develop professionals trained to prevent financial crime while following both local and international standards of compliance, the lender said in a ... Read more

Singer’s profits drop despite rising sales

Business Desk: dhakamirror.com Although Singer Bangladesh logged higher sales between July and September this year, the company still incurred losses in the quarter, according to a press release. Sales of the multinational electronic and home appliance company were 12.8 per cent higher at Tk 520 crore in the July-September quarter compared to the same period ... Read more

Foodpanda sponsored Bangladesh’s Street Child World Cup team

Business Desk: dhakamirror.com Foodpanda donated €5,000 to the LEEDO squad representing Bangladesh at the Street Child World Cup 2022 in Doha. A Jersey Handover Ceremony was recently held at foodpanda headquarters. The Street Child World Cup Doha 2022 took place 8-15 October and brought impoverished children from around the world together for a football game, ... Read more

bKash partners with wagely to make it easier for RMG workers to access their earned wages

The facility will help RMG employees handle their emergency fund Business Desk: dhakamirror.com Wagely Bangladesh Ltd (wagely) will give Earned Wage Access (EWA) to garment workers who use bKash’s payroll system. With this feature, employees can get already-earned income before payday through their bKash account, helping them handle emergency money, according to a press release. ... Read more

Apex Footwear announces offers on anniversary

Business Desk : dhakamirror.com Apex Footwear yesterday launched its 25-year celebration campaign at The Daily Star Centre in Dhaka, where the company announced some offers and customer engagement activities that will be available at each outlet across the country till the end of December. Conditions apply on all the offers, which include lucky 25, spin ... Read more

Grameenphone reported 5.7% revenue increase in Q3 2022

Business Desk : dhakamirror.com Telecom operator Grameenphone has reported revenues of Tk11,286.75 crore for the first nine months of 2022, registering a growth of 5.7% from the same period last year. In the third quarter, the company lost some 2.9 million subscribers owing to a ban on SIM sales imposed by the Bangladesh Telecommunication Regulatory ... Read more

Unilever Consumer Care profit increased by 15% in the third quarter

Business Desk : dhakamirror.com Unilever Consumer Care Limited posted 15 per cent higher profit in the third quarter of 2022 compared to a year earlier. The multinational company made a profit of Tk 18.72 crore in the July-September period, up from Tk 16.28 crore in the identical period in 2021. Its earnings per share were ... Read more

Heidelberg Cement continues to incur losses

Business Desk : dhakamirror.com Heidelberg Cement Bangladesh Limited suffered losses in the third quarter of 2022. The multinational cement manufacturer incurred a loss of Tk 3.61 crore in the July-September quarter. It made a profit of Tk 10.79 crore during the same period a year earlier. Thus, the earnings per share of the company were ... Read more

BGMEA, Fashion Design Council to promote khadi worldwide

Business Desk : dhakamirror.com The Bangladesh Garment Manufacturers and Exporters (BGMEA) and the Fashion Design Council of Bangladesh (FDCB) intend to forge collaboration to promote and develop high-end fashionable garments using home grown fabrics and materials. The willingness was expressed when FDCB President Maheen Khan and Vice President Emdad Haque met with BGMEA President Faruque ... Read more

RMG emphasizing on productivity and efficiency improvement to compete globally: BGMEA

To increase the productivity and efficiency of the garments industry, the Niposh project was launched. Business Desk : dhakamirror.com The country’s ready-made garments (RMG) industry is increasingly focusing on efficiency and productivity enhancement to be more competitive in the global market, said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). “Bangladesh’s ... Read more

Banglalink expands network coverage by 50% in Chittagong

Chittagong customers of the operator will now have access to internet that is twice as fast because of technological developments Business Desk : dhakamirror.com As part of its countrywide network expansion, telecom and digital communications operator Banglalink has increased network coverage in the Chittagong division by 50% over the past year. The operator launched next-generation ... Read more

Vivo launches its new V25e smartphone

The smartphone comes with a premium camera setup, a massive battery and an elegant and dynamic aesthetic Business Desk : dhakamirror.com Vivo, a leading global smartphone brand, has announced the launch of the latest addition to the successful V series, the V25e, which is available for sale in the market. Being a power-packed phone, the ... Read more

Walton holds ‘Meet the Partners’

Business Desk : dhakamirror.com Electronics entrepreneurs have vowed to turn Walton into a top global brand by 2030. They expressed their determination in this regard at a conference of electronics businessmen, titled “Meet the Partners”, organised by Walton Hi-Tech Industries PLC at the Sea Pearl Beach Resort and Spa in Cox’s Bazar on Thursday. SM ... Read more

Banglalink investing heavily in Ctg: Veon Group CEO

News Desk : dhakamirror.com Veon has achieved double-digit growth in Bangladesh and the parent company of Banglalink is now investing heavily in its network in key regions, including Chattogram, to maintain the growth, Veon Group CEO Kaan Terzioglu said today. Banglalink has expanded its network coverage by 50 per cent in Chattogram division in the ... Read more