Regional & International Economy

An overall decline in the country’s foreign trade last year for the pandemic brought the Chattogram port down nine places in the latest ranking of Lloyd’s List “One Hundred Container Ports 2021” analysing annual container transport of 2020.

Local garment makers yesterday sought Spanish investment in non-cotton textile items as the demand for apparel items manufactured from man-made fibre (MMF) is on the rise.

The country’s apex trade body has suggested that the government should extend the scope of investment abroad by Bangladeshi-origin firms and companies.

The Banglabandha land port in Rangpur’s Panchagarh district collected a record-high amount of revenue in fiscal 2020-21.

Bangladesh and Australia are set to sign Trade and Investment Framework Agreement (TIFA) aimed at bolstering bilateral trade by way of removing barriers and tapping potential, officials said.

Bangladesh’s trade deficit hit an all-time high of $22.27 billion last fiscal year due to a rise in commodity prices in the global market.

Implementation of development budget modestly improved in 2020-21 fiscal year but it was far behind that of pre-Covid level as the twist in development activities continued last fiscal due to prolonged corona crisis.

Bangladesh’s economy may continue to suffer under the Covid-19 pandemic throughout the current fiscal year due to vaccine shortages and the government’s incapability to enforce a strict lockdown, said a recently released Fitch Solutions report.

Speakers at a webinar on Saturday  said attracting FDI, expansion of trade, reforms of tax, VAT, duty and tariff structure, policy reforms, skill development, improving backward linkage industry are key to economic recovery of the country.

There’s no treasure trove of natural resources, no particular reason why economic growth should occur. This really was what the general view was