Trade and Business in Bangladesh

Cotheeka Trading Agency is one of the leading trading companies in Bangladesh specialized on Export-import, Local Trading and Marketing of various products ranging Computer & Electronic Accessories to Jute Products.

Cotheeka Trading Agency is reputable worldwide for its excellent Quality Control and Fast Turnaround time for delivering all kinds of products or services. Our commitment to customer services and passion for providing the best consumer value have enriched our spectacular growth since 2001. Our experience in management, including a wealth of experience in the areas of finance, strategy and operational management with distribution and direct marketing helped us to be established as one of the best trading companies in Asia. We have extensive experience developing inventive and original marketing campaigns that build our customer relationships in the retail and consumer product industries.

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Since the independence a quite extensive development cooperation has dominated the bilateral relations between Bangladesh and Sweden. At the same time, however, trade has developed in a positive way albeit from a low level. At the moment trade with Bangladesh accounts for 0,06 % of Sweden’s total exports and 0,18 % of our total imports.
Telecommunication apparatus and equipments are the most important export products to Bangladesh, representing 17 % of total exports for 2009. Machinery and other engineering products, paper, wood, ore, iron, steel and chemical products are also important.
The Swedish export reached a peak in 2007 with SEK 2073 million . This peak was largely a result of an up- scaling of the  telecommunications sector and exports to provide equipment to this end. After this investments phase in the telecommunications sector the export have now decreased to SEK 617 million for 2009.
Swedish imports from Bangladesh are however steadily growing; total imports in 2009 were SEK 1625 million, compared to SEK 1471 million in 2008. It should be noticed that the registered trade statistics underestimate the import figures as Bangladeshi products intended for the Swedish market are often off-loaded in other countries in the European Union.
There is a potential for increased trade between Sweden and Bangladesh. The positive image of Sweden in Bangladesh is an important factor when promoting Swedish industries in Bangladesh for example energy, environment, paper pulp and leather-products. Also in the field of textiles, ready made garments and pharmaceuticals there are significant opportunities for growth in our trade relations.
For Swedish exporters and importers who are interested in trading with Bangladesh  or Swedish investors in establishing a presence in Bangladesh, you are welcome to contact the Swedish Trade Council office in New Delhi, or the Swedish Embassy in Dhaka.
There are more than 50 Swedish or Swedish-related companies represented in Bangladesh by themselves or by agents.

Bangladesh and India yesterday started their long-awaited trade through Banglabandha port in a major bilateral decision. From now, goods from both countries can pass through the land port.
Agriculture Minister Matia Chowdhury formally opened trade through the land port in Tentulia upazila in the northernmost district of Panchagarh, while Indian Finance Minister Pranab Mukherjee launched trade through Phulbari in Jalpaiguri. Earlier, an inaugural meeting was held at Phulbari port.
Trade between Nepal and Bangladesh through Banglabandha has been continuing on a limited scale since its introduction in September 1997.
Banglabandha will be an important land port thanks to broader trade with India, analysts said.
Matia Chowdhury said importers and exporters have long been demanding opening of the port for goods transportation in and out of India. "Today their demand is fulfilled."
Mukherjee said: "We will take steps to shorten the trade gap between Bangladesh and India.”
Banglabandha will shape up into a more important port than other land ports thanks to its geographical importance to both countries, he said.
Immigration to India and Bangladesh through Banglabandha will start after immigration checkpoints are set up, said Matia Chowdhury. 

India Bangladesh trade

“We want to develop the region economically by maintaining a friendly relationship between two countries,” she added. She urged India to take steps to reduce the trade gap.
Contacted, President of Panchagarh Chamber and Commerce and Industry Iqbal Kaiser said Banglabandha point is important to develop regional trade, as Siliguri is only five kilometres from the port while it is 10 kilometres for Jalpaiguri and 58 for Darjiling.
The Indian minister along with a 13-member delegation, including Urban and Municipality Development Minister of West Bengal Ashok Battacharia, joined the inauguration.
Matia Chowdhury led an 11-member delegation, including lawmakers Mozharul Hoque Pradhan and Farida Akter and Deputy Commissioner of Panchagarh Banamali Bhowmik.
A warehouse, a truck parking yard, a police barrack, a Sonali Bank branch and a telephone exchange office have been set up at Banglabandha port at a cost of Tk 2 crore recently.

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in this economy.  It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.
This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 183 economies. The most recent round of data collection was completed in June 2011.
Prime Minister Sheikh Hasina today called for boosting old border trade with Myanmar and evolve a fresh era in the bilateral relations with the southeastern neighbour particularly in the area of trade and business.

Bangladesh and Myanmar are neighbours, enjoying excellent relations based on shared values, culture, history and ancient trade. Stronger business ties between the two countries are a new demand from both sides, she said.

The Prime Minister, who arrived here this afternoon on a three-day official visit, was addressing a dinner at a hotel here hosted by Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) in her honour this evening.

As neighbours, Bangladesh and Myanmar have been natural partners in trade since the earliest of times. Let us now revive, rejuvenate and boost that partnership, she said calling for good connectivity by road, rail, water and air for collaboration on a journey of shared prosperity.

"Our growing connectivity with India, Nepal, Bhutan and China has ushered in a hope of common market for over 3 billion people in our region," she said.

President of UMFCCI U Win Aung, FBCCI President AK Azad and Bangladesh Ambassador to Myanmar Anup Kumar Chakma, among others, spoke on the occasion. Foreign Minister Dr Dipu Moni and noted IT expert and PM's son Sajib Wazed Joy were present.

Sheikh Hasina highlighted the business opportunities in Bangladesh and thanked the business community for organising the event to bring the business people of the two neighboring countries together.

In collaboration with each other both the UMFCCI, one of the oldest business organizations in the region founded in 1919, and Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) would be greatly benefited, she observed.

Referring to the signing of an MoU between the two Federations for establishment of Joint Business Council, she said this initiative could be the beginning of a fresh era of bustling business between the two countries.

The Prime Minister underlined the solid macroeconomic fundamentals of Bangladesh and said, "Our vast advancement in manufacturing, infrastructure, human resources development, banking and corporate sectors helped us to absorb ongoing global economic recession and maintain a healthy GDP growth rate, export and remittance earnings.

trade fair

She said Bangladesh is offering the most liberal foreign direct investment regime in South Asia, allowing for repatriation of 100 per cent of profits and foreign equity. "We also provide corporate tax holidays, concessionary duty on import of machinery as well as full repatriation facilities for dividends and capital on exit, among other things," she said.

Board of Investment (BOI) of Bangladesh has set up "one stop service' to cater to the needs of foreign investors, she added. Sheikh Hasina said there are huge potentials for joint ventures as well as individual investments in Bangladesh, particularly in pharmaceuticals, ceramics, manufacturing, ICT and tourism.
 

Introduction SHOWCASE BANGLADESH 2012 is set to become the most exciting event for the 2nd time in Kuala Lumpur, organized by Bangladesh-Malaysia Chamber of Commerce & Industry (BMCCI) in collaboration with the Bangladesh High Commission in Kuala Lumpur, Malaysia South-South Association (MASSA) and Malaysia External Trade Development Corporation (MATR.. Incorporating a Company in Bangladesh: Business in Bangladesh may be carried on by a company formed and incorporated locally or by a company incorporated abroad but registered in Bangladesh. The incorporation or registration is done by the Reg Bangladesh-Malaysia Chamber of Commerce & Industry (BMCCI) is an independent non profit service oriented organization that promotes leadership, strategic thinking and bilateral business partnerships.  Bangladesh has a wide variety of natural and agricultural resources. There are considerably large amounts of coal and gas, hard rock, lime stone and silicone sand in the country and these are important raw materials for many industries. Bangladesh's main industries are cotton, textiles, jute, garments, tea processing, paper newsprint, cement, chemical fertilizers, sugar and light engineering. In spite of the large quantities of agricultural resources available, the agro-based industries have not been properly utilized, because of a lack of technology and investment. Even the country's marine resources are grossly under-exploited. Bangladesh's major trading partners for both imports and exports are the USA, India, Japan, China, Australia, South Korea, Hong Kong, Malaysia, Indonesia, Taiwan, Saudi Arabia, UAE, and other European countries. Bangladesh's economy depends on the import of both consumer items and industrial raw materials. Bangladesh's major import products are raw cotton, crude petroleum, wheat, oil, seeds, edible oil, petroleum products, fertilizer, yarn, capital goods, staple fibers, iron and steel. The main export items of Bangladesh are tea, leather and leather products, garments, seafood, paper, furnace oil, urea, ceramic products, raw jute and jute products such as Hessian sacking, carpets and carpet backing. The economic growth rate of Bangladesh has been maintained at a around 5% during the past ten years in spite of frequent natural calamities. In 2002 - 2003, the domestic savings rate was about 18.23% and the GDP was $275.7 billion in 2004. In the same year, the annual per capita was US$2000, growth rate 4.9%, industrial growth rate at constant price 6.5%, inflation rate 6% and the investment rate 23.5% of GDP. Bangladesh's main investment sectors are, service, textiles, chemicals, food and food related industries, glass and ceramics and energy based projects.  Canada-Bangladesh trade in goods and services has been steadily increasing over the past few years, with some sectors more than doubling. Trade is very important to Bangladesh and the country is pre-dominantly import-dependent. Canada is a very welcomed trading partner for Bangladesh, which offers a relatively investment-friendly regulatory regime and a strategic geographical location as an access point to South and South East Asia. Bangladesh a key initiator of the South Asian Association for Regional Cooperation (SAARC). Trade Up has been designed to provide export oriented SMEs with pre and post shipment financing facilities. The underlying objective of this product is to structure trade finance facilities in line with customers' trade cycle. The product is suitable for the back ward linkage industries of country's ready made garments sector. One of the key features of the product presents the customers with the opportunity to avail HSBC's international credit card against Exporters' Retention Quota. To connect the small and medium sized enterprises (SMEs) with their buyers and suppliers locally and globally, HSBC Bangladesh has launched two trade products tailored to the requirements of the SMEs. These are: Trade Line and Trade Up. You can consult our relationship managers on the features and functionalities of these products.

trade and business