Trade and industries

FOREIGN TRADE is the official source for U.S. export and import statistics and responsible for issue regulations governing the reporting of all export shipments from the United States. If you're searching for import or export statistics, information on export regulations, commodity classifications, or a host of other trade related topics, this is the place to get the information you need.

A trade secret is a formula, practice, process, design, instrument, pattern, or compilation of information which is not generally known or practically ascertainable, by which a business can obtain an economic advantage over competitors or customers. In some jurisdictions, such secrets are referred to as "top secret information", but should not be referred to as "classified information", due to the nature of the word in the USA.

Trade secrets are by definition not disclosed to the world at large. Instead, owners of trade secrets seek to protect trade secret in sequence from competitors by instituting special procedures for handling it, as well as technological and legal security measures. Legal protections include non-disclosure agreements (NDA) and non-compete clauses. In exchange for an opportunity to be employed by the holder of secrets, an employee may sign an agreement not to reveal his or her likely employer's proprietary information. An employee may also surrender or dole out to his employer the right to his own intellectual work produced during the course (or as a condition) of employment. breach of the agreement generally carries the possibility of heavy financial penalties. These penalties operate as a disincentive to reveal trade secrets. Though proving a breach of a non-disclosure agreement against a former employee who is legally working for a competitor can be very difficult. A holder of a trade secret may also require similar agreements from other parties he deals with, such as vendors or licensees.

Protection of trade secret can, in standard, extend indefinitely and then may provide an advantage over patent protection, which lasts only for a specific period of time. Coca-Cola, for model, has no patent for its formula and has been very effective in protecting it for many more years than the twenty years of security that a patent would have provided. In fact, Coca-Cola refused to reveal its trade secret under at least two judges' orders.The inconvenience is that there is no protection once information protected as trade secret is uncovered by others through reverse engineering, for example, whereas patent has a guaranteed time of protection in exchange for disclosing the in order to the community.

World trade

To acquire rights in a trademark under U.S. law, one must simply use the mark "in commerce." It is possible to register a trademark in the U.S., both at the federal and state levels. (Registration of trademarks confers some advantages, including stronger protection in certain respects, but it is not required in order to get protection.) Registration may be required in order to file a lawsuit for trademark infringement. Other nations have different trademark policies and this information may not apply to them. Assuming the mark in question meets certain other standards of protectibility, it is protected from infringement on the grounds that other uses might confuse consumers as to the origin or nature of the goods once the mark has been associated with a particular supplier. (Similar considerations apply to service marks and trade dress.) By definition, a trademark enjoys no protection (qua trademark) until and unless it is "disclosed" to consumers, for only then are consumers able to associate it with a supplier or source in the requisite manner. (That a company plans to use a certain trademark might itself be protectible as a trade secret, however, until the mark is actually made public.)

A company can protect its confidential information through non-compete and non-disclosure contracts with its employees (within the constraints of employment law, including only restraint that is reasonable in geographic and time scope). The law of protection of confidential information effectively allows a perpetual monopoly in secret information - it does not expire as would a patent. The lack of formal protection, however, means that a third party is not prevented from independently duplicating and using the secret information once it is discovered.

urveillance of national trade policies is a fundamentally important activity running throughout the work of the WTO. At the centre of this work is the Trade Policy Review Mechanism (TPRM). All WTO members are reviewed, the frequency of each country’s review varying according to its share of world trade. 

The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.

This website is a one-stop national resource to learn about the crime of identity theft. It provides detailed information to help you deter, detect, and defend against identity theft.  

On this site, consumers can learn how to avoid identity theft – and learn what to do if their identity is stolen.  Businesses can learn how to help their customers deal with identity theft, as well as how to prevent problems in the first place.  Law enforcement can get resources and learn how to help victims of identity theft.

Read on to find out more about identity theft and what you can do about it.

Here's an example of a "yen carry trade": a trader borrows 1,000 Japanese yen from a Japanese bank, converts the funds into U.S. dollars and buys a bond for the equivalent amount. Let's assume that the bond pays 4.5% and the Japanese interest rate is set at 0%. The trader stands to make a profit of 4.5% as long as the exchange rate between the countries does not change. Many professional traders use this trade because the gains can become very large when leverage is taken into consideration. If the trader in our example uses a common leverage factor of 10:1, then she can stand to make a profit of 45%. 

World trade organization

The big risk in a carry trade is the uncertainty of exchange rates. Using the example above, if the U.S. dollar were to fall in value relative to the Japanese yen, then the trader would run the risk of losing money. Also, these transactions are generally done with a lot of leverage, so a small movement in exchange rates can result in huge losses unless the position is hedged appropriately.

A strategy in which an investor sells a certain currency with a relatively low interest rate and uses the funds to purchase a different currency yielding a higher interest rate. A trader using this strategy attempts to capture the difference between the rates, which can often be substantial, depending on the amount of leverage used.

The Fair Credit Reporting Act guarantees you access to your credit report for free from each of the three nationwide credit reporting companies — Experian, Equifax, and TransUnion — every 12 months. The Federal Trade Commission has received complaints from consumers who thought they were ordering their free annual credit report, and yet couldn't get it without paying fees or buying other services. TV ads, email offers, or online search results may tout "free" credit reports, but there is only one authorized source for a truly free credit report. 

Many companies claim to offer free credit reports – and some do. But others give you a report only if you buy other products or services. Still others say they’re giving you a “free” report and then bill you for services you have to cancel. If you go to www.AnnualCreditReport.com and follow the prompts for your free credit report, you can be sure the reports you get really are free. 

Looks like the Nets aren’t waiting for Dwight Howard’s situation to get resolved before making moves. According to Nets Daily, they just went ahead and traded for Joe Johnson, whose contract will have Brooklyn unable to re-sign Deron Williams and still make a deal for the Orlando big man this summer. More details: “The Nets have all but completed a trade for Joe Johnson, the six-time all-star, league sources tell NetsDaily. In return, the Hawks get expiring contracts and a first round pick. NOT included in the trade: MarShon Brooks and Gerald Green. The Nets also didn’t have to give up their own first round pick in the trade. The trade will not be finalized until July 11. Johnson, who is still owed $89.3 million over the next three years, was dealt for Anthony Morrow; Jordan Farmar, who will be bought out at Atlanta’s expense; Jordan Williams, Johan Petro, a signed-and-traded DeShawn Stevenson and the Rockets 2013 lottery protected first round pick.”

Trade agreements usually involve a detailed list of rights that nations must provide to authors of new works -- including any original content from books to software. But while the deals often include general provisions, permitting countries to adopt exceptions to those rights, they have never been explicitly required.

Those exceptions are what allow for the existence of everything from libraries to movie reviews. They're also critical for a host of internet operations, which frequently reference or make use of copyrighted material under well-established "fair use" standards and other key exemptions.

We're encouraged that the USTR (United States Trade Representative) has acknowledged that we can have strong and balanced copyright," said Matthew Schruers, vice president of law and policy at the Computer and Communications Industry Association, a tech lobbying organization. "There is still much more to be done, on this issue, other IP issues, as well as issues outside of the IP space. Nevertheless, this is an important first step toward modernizing the trade framework for the twenty-first century."

The USTR -- the White House agency, led by Ron Kirk, that's responsible for negotiating the Trans-Pacific deal -- said this new outline aims to enhance the framework of the Trans-Pacific Partnership.

"The TPP is intended to be a 21st century agreement, covering a number of emerging issue areas, and it’s clear that this is an issue of major importance to many stakeholders," said USTR spokesperson Carol Guthrie in a written statement. "After consulting with them and with our trading partners, we’ve decided to further enhance our framework."

Tech policy and transparency in the Trans-Pacific deal have generated some concern among a few members of Congress, who have said that key staffers were denied access to draft negotiation documents, even though more than 600 corporate officials were able to view the documents through positions on advisory panels. 

Fair trade

The groth of world Trade

A significant braking of trade development had been forecast for 2011, but multiple economic setbacks during the year dampened growth beyond expectations and led to a stronger than anticipated easing in the fourth quarter.

“More than three years have passed since the trade collapse of 2008-09, but the world economy and trade remain fragile. The further slowing of trade expected in 2012 shows that the downside risks stay behind high. We are not yet out of the woods,” WTO Director General Pascal Lamy said.

“The WTO has so far deterred economic nationalism, but the sluggish pace of recovery raises concerns that a steady trickle of restraining trade measures could gradually undermine the benefits of trade openness. It is time to do no harm. WTO members should turn their attention to revitalizing the trading system and to ensuring such a scenario does not materialize.”

The present trade forecast assumes global output development of 2.1% in 2012 at market exchange rates, down from 2.4% in 2011, based on a consensus of economic forecasters. However, there are severe downside risks for growth that could have even greater negative consequences for trade if they came to pass. These include a steeper than expected downturn in Europe, financial contamination related to the sovereign debt crisis, rapidly rising oil prices, and geopolitical risks.

Recent production data suggest that the European Union may already be in recession, and even China’s dynamic economy appears to be upward more slowly in 2012. Economic prospects have improved in the United States and Japan as labour market conditions improve in the former and business orders pick up in the latter, but these positives will only partly make up for the later negatives.

Developed economies exceeded expectations with export growth of 4.7% in 2011 while developing economies (for the purposes of the analysis this includes the Commonwealth of Independent States, or CIS) did worse than expected, soundtrack an increase of just 5.4%. In fact, shipments from developing economies other than China grew at slightly slower pace than exports from the developed economies that included disaster-struck Japan. The relatively strong performance of developed economies was driven by a robust 7.2% increase in exports from the United States, as well as a 5.0% extension in exports from the European Union. Meanwhile, Japan’s 0.5% drop in exports detracted from the average for developed economies overall.

Several adverse developments disproportionately affected developing economies, including the interruption of oil supplies from Libya that caused African exports to tumble 8% last year, and the severe flooding that hit Thailand in the fourth quarter. The Japanese earthquake and tsunami also disrupted global give chains, which penalized exports from developing countries like China, as reduced shipments of components hindered production of goods for export. (See quarterly volume developments for selected economies in Appendix Chart 1.)

Significant exchange rate fluctuations occurred during the year, which shifted the competitive positions of some major traders and prompted policy responses (e.g. Switzerland, Brazil). Fluctuations were driven in large part by attitudes toward risk related to the euro sovereign debt crisis. The value of the US dollar fell 4.6% in nominal terms against a broad basket of currencies according to data from the Federal Reserve, and 4.9% in real terms according to data from the International Monetary Fund, making US goods generally less cheap in export. Nominal US dollar depreciation also would have inflated the dollar values of some international transactions.

The developments outlined above refer to trade in real terms, but nominal flows for both merchandise and commercial services were similarly affected by recent economic shocks.

In 2011, the dollar value of world merchandise trade advanced 19% to $18.2 trillion, surpassing the previous peak of $16.1 trillion from 2008. Much of the growth was due to higher commodity prices, but monthly trade flows were habitually flat or declining in many major traders over the course of the year (See monthly nominal developments in Appendix Chart 2.)

The share of developing economies and the CIS in the world total also rose to 47% on the export side and 42% on the import side, the highest levels ever recorded in a data series extending back to 1948.

world trade

The value of world commercial services exports increased by 11% in 2011 to $4.2 trillion, with strong differences in annual growth rates for particular countries and regions. African exports were hit hard by the turmoil in Arab countries, soundtrack zero growth as Egypt’s exports of travel services plunged more than 30%. New quarterly data on services jointly prepared by the WTO and UNCTAD also displayed a sharp slowdown in the fourth quarter coinciding with the heightened level of financial market turmoil surrounding the euro debt crisis.

World commodities trade volume grew 5.0% in 2011, and Asia’s 6.6% increase led all regions . One of the more significant developments in 2011 was the 8.3% contraction in the volume of Africa’s exports. This was largely due to the civil war in Libya, which reduced the country’s oil shipments by an estimated 75%. Japan’s exports also fell by the same 0.5% as the country’s GDP, while shipments from the CIS advanced just 1.8%.

Although Africa recorded a respectable 5.0% increase in imports, other resource exporting regions performed better. Imports of the CIS grew faster than those of any other region at 16.7%, followed by South and Central America’s at 10.4%. Meanwhile, Japan’s import growth was the slowest of any major economy or region last year at 1.9%.

India had the fastest export growth among major traders in 2011, with shipments rising 16.1%. Meanwhile, China had the second fastest export growth of many major economy at 9.3%.

The combination of low export volume growth and high import volume growth seen in the Commonwealth of Independent States in 2011 can be attributed to the 32% rise in energy prices for the year, which boosted export take-home pay and allowed more foreign goods to be imported .

world trade

The growth in the trade share of output is one of the most important features of the world economy since World War II. We show that an important propagation mechanism for this growth is vertical specialization. Simply put, vertical specialization occurs when imported inputs are used to produce goods that are then exported. We show that many of the standard trade models—the Ricardian model, the monopolistic competition model, and the international real business cycle models—cannot explain the growth in trade unless very high elasticities of demand and substitution are assumed. We then use case studies and other empirical evidence to demonstrate the quantitative significance of vertical specialization in trade. Finally, we develop a model of vertical specialization that can explain the growth in trade under reasonable elasticities, which suggests that vertical specialization has important implications for the gains from trade.

 The striking growth in the trade share of output is one of the most important developments in the world economy since World War II. Two features of this growth present challenges to the standard trade models. First, the growth is generally thought to have been generated by falling tariff barriers worldwide. But tariff barriers have decreased by only about 11 percentage points since the early 1960s; the standard models cannot explain the growth of trade without assuming counterfactually large elasticities of substitution between goods. Second, tariff declines were much larger prior to the mid 1980s than after, and yet, trade growth was smaller in the earlier period than in the later period. The standard models have difficulty generating this nonlinear feature. This paper develops a two-country dynamic Ricardian trade model that offers a resolution of these two puzzles. The key idea embedded in this model is vertical specialization, which occurs when countries specialize only in particular stages of a good’s production.

New Zealand is on track to outperform world trade growth as increasing demand from Asia and Latin America fuels agricultural exports, say economists for the HSBC bank.

New Zealand's trade will grow at an annualised rate of 5.9 per cent over the next five years, outperforming forecast world trade growth of 3.8 per cent annually.

The trend is expected to continue into the next decade with New Zealand's growth predicted to rise a further 7.3 per cent between 2017 and 2021 annually, compared to world growth on 6.2 per cent, according to the latest HSBC Global Connections report.

"New Zealand is in the right geography and in the right industries to take advantage of accelerating trade trends," said Gary Cross, head of global trade and receivables finance at HSBC. "As millions more people within the emerging markets of the Southern Hemisphere move up to the middle classes, demand for our agricultural, meat, wood and wine products can only increase."

The trend is expected to continue into the next decade with New Zealand's growth predicted to rise a further 7.3 per cent between 2017 and 2021 annually, compared to world growth on 6.2 per cent, according to the latest HSBC Global Connections report.

"New Zealand is in the right geography and in the right industries to take advantage of accelerating trade trends," said Gary Cross, head of global trade and receivables finance at HSBC. "As millions more people within the emerging markets of the Southern Hemisphere move up to the middle classes, demand for our agricultural, meat, wood and wine products can only increase."

Australia will remain New Zealand's largest trading partner, at an annual predicted growth rate of 7.5 per cent over the next five years, while exports to China, the country's second largest export partner, is seen accelerating swiftly at 12.6 per cent annually.

"The speed at which businesses will have to grow may seem challenging, but the reality is that growth opportunities for New Zealand lie internationally."

Mexico convened a meeting of G20 trade ministers in Puerto Vallarta, in April, in our capacity as Presidency of this group, with the aim of promoting trade as a vehicle for restoring economic growth, and to redouble efforts to fight against protectionism in the world.

At this meeting it became clear that currently imports are as important as exports, and that more trade produces more and better jobs. By contrast, the use of protectionism as an economic policy destroys jobs and reduces the growth rate of countries that apply these measures. This has been demonstrated in a recent study sponsored by ten international organizations.

Mexico has had great success in trade liberalization. Before we opened our markets, foreign trade accounted for 24% of GDP; today it is about 60%. In addition, one in five jobs is linked to companies that export and 37% of these pay higher wages than non-exporting companies. The restrictive measures applied by some G20 countries have not only affected Mexican products, but are also having a negative impact on the global value chains in which Mexico participates.

For Mexico it is vital that global trade flows grow and do so quickly; this will allow our country to increase and diversify our exports. Similarly, it is essential to be able to count on the international prices and quality inputs that we need to manufacture the goods that we export and that our population consumes.

Mexico proposes that G20 leaders, meeting this month in Los Cabos, agree to intensify their fight against protectionism. Leaders will also discuss in depth issues such as value chain in order to generate greater awareness about the importance of supply chains running smoothly, without upset, and the importance of the relationship between trade, employment and growth.

The stock market crash of 1929 triggered a financial crisis known as the Great Depression. Misguided economic policies and growing trade protectionism deepened the crisis, which came to a close with the end of World War II.

In 2008-2009 the world was in danger of repeating this episode. The U.S. housing crisis became a financial crisis, and thus spread its negative effects to the real economies of most countries. Independently of the internal measures that each country adopted individually, we decided to coordinate our policies in order to confront a possible catastrophe.

The formation of the Group of Twenty or G20 was an appropriate response at the appropriate time. It focused on financial and other issues, such as trade. Its actions were essential in preventing the rise of protectionism that would have been devastating for the world economy; in 2009 world trade fell by 12% and only 1% of imports were affected by protectionist measures.

With economic recovery, world trade rose by 13.8% in 2010. Unfortunately, according to the WTO, growth in 2012 will only be 3.7%. Most worrying is the resurgence in protectionist tendencies and the role that various countries are giving these in their strategies to tackle the difficult environment: 3% of world imports have been affected by restrictive measures.

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Trade fair in bangladesh

Export Promotion Bureau (EPB) in cooperation with the Ministry of Commerce is set to organize the 17^th Dhaka International Trade Fair (DITF)-2012 from January 01 - 31, 2012 at Sher-e-Bangla Nagar, Dhaka, Bangladesh.

The event is expected to provide an immense opportunity both for buyers and sellers to establish new business contacts. A wide range of products including textile & garments, leather & leather goods including footwear, machinery equipment pharmaceuticals,carpets,chemical& allied products, cosmetics & beauty aids, dairy products, electrical and electronic items, food stuff, gift & novelty items,handicrafts, household appliances, furniture, building materials, sports goods, sanitary ware, toys and stationery and watches, clocks & jewellery will be displayed at the fair.

GREENBUILD BANGLADESH is one of the most significant events in the country which targets on the green technology and eco-friendly habitat solutions. It intends to gather together all the stakeholders in the domain, for knowledge sharing and dissemination of information to facilitate the development and use of green building products and technologies.
The GREENBUILD BANGLADESH will also facilitate your objective and allow for a cross section of dialogue and information sharing through the allied activities & educate its target audience on the latest eco friendly building materials and technology which generally used in developed countries.

Venue: Hotel Pan Pacific Sonargaon, Dhaka,Bangladesh

Visitor Registration GARMENTECH BANGLADESH
Date: 16-JAN-13 to 19-JAN-13
GARMENTECH BANGLADESH 2013 is a dedicated showcase for the Textile & Garment machinery & accessories industry for the Indian sub-continent region. It will be most effective marketing platform for manufacturers penetrating Indian textile & apparel market. This is the 12th edition of the session and the most comprehensivetechnology tradeshow for the apparel industry in Bangladesh.

Venue: Bangabandhu International Conference Centre, Dhaka,Bangladesh

Visitor Registration International Fabrics & Accessories Sourcing Fair Dhaka

trade fair

Date: 16-JAN-13 to 19-JAN-13
International Fabrics & Accessories Sourcing Fair 2013 (IFA Sourcing Fair)Being held concurrently with the largest apparel technology tradeshow of Bangladesh, Garmentech Bangladesh 2012, International Fabrics & Accessories Sourcing Fair- Dhaka is a platform conceived to address the apparel fabrics and garment accessories sourcing needs of the Bangladesh clothing and knitwear manufacturers and exporters. International Fabrics & Accessories Sourcing Fair- Dhaka will have on display latest fabric collections from domestic and overseas fabric manufacturers and distributors along with the hot collections of trimmings and embellishments.

Venue: Bangabandhu International Conference Centre, Dhaka,Bangladesh

Visitor Registration Bangladesh Int'l Plastics Packaging Printing Industry Exhibition
Date: 23-JAN-13 to 26-JAN-13
Bangladesh Dhaka International Packaging Industry Exhibition is an important exhibition of packaging and processing machinery, materials and associated technology in France. Bangladesh Dhaka International Packaging Industry Exhibition will be a grand meeting for the world packaging industry.

Venue: Bangabandhu International Conference Centre, Dhaka,Bangladesh

Visitor Registration Bangladesh IPF-Foodtech
Date: 23-JAN-13 to 26-JAN-13
Bangladesh IPF-Foodtech is an exclusive industrial fair dedicated to the companies which are in the fray of producing quality equipments, supplies and machinery in the processing of food and bakery products. The exhibition is scheduled to be held in the city of Dhaka in Bangladesh in the course of 4 days. The exhibitors will find the event to be encompassed with great potential as it tries to give them a platform from where they can find exposure and visibility for the products that they represent.
Bangladesh IPF-Foodtech is expected to play host to more than 200 exhibiting companies and 15000 trade visitors from all across the world. The exhibiting companies will be coming from countries like Austria, Malaysia and USA.

Venue: Bangabandhu International Conference Centre, Dhaka,Bangladesh

“The past BNP government had inked an agreement secretly with India on transit and now they are doing politics with the issue,” Khan said, adding: “The present government won't do any treaty with India or other countries by keeping the people under complete dark.”

“To us, the interest of Bangladesh's people is our prime concern and our government will do every agreement or law with this consideration,” he said. 


Commending the arrangement of trade fair for the 17 consecutive year, the minister hoped that such a fair is mainly aimed at promoting local products to foreign markets.  

The Powerhouse for Promoting Bangladesh German Trade Relations

by Md Saiful Islam, President of BGCCI

Germany is Bangladesh’s second largest export market worldwide. In high-end technology and machinery Germany is also one of Bangladesh’s most important import partners. With a total volume of more than EUR 2.8 billion in 2010 our mutual trade relations are outstanding and contribute significantly to Bangladesh’s sustainable development.

Headed by Executive Director Mr. Daniel Seidl, the team of the Bangladesh German Chamber of Commerce & Industry (BGCCI) works for advancing and strengthening the vibrant economic relations between our two countries.
Today, the BGCCI is the biggest bilateral European chamber in Bangladesh, boasting over 250 member companies from Bangladesh and Germany covering all major sectors. To support the businesses of its members the BGCCI offers a unique set of services such as tailor-made market analysis and research, match-making between potential partners, staff recruitment and dispute settlement. The BGCCI also hosts monthly networking events, promoting a friendly business environment for its members and boosting the country’s vibrant business community.
One of the BGCCI’s highlights is the organization of the annual German Trade Show. This three day-long event is the biggest trade show in the country. It brings together companies and entrepreneurs from Germany and Bangladesh, offering them an opportunity to present their products and services to more than 25.000 visitors. The German Trade Show 2011 will be held on October 27 - 29 at the Bangabandhu International Conference Centre in Dhaka.
The “Global Social Responsibility Conference” of 2010 marks another notable event in the Chamber’s history. With over 200 top CEOs from Germany and Bangladesh attending, the conference provided an exceptional platform to discuss business strategies in the field of “Social Business” and “Corporate Social Responsibility”.
Besides the partnership with the German Embassy the Chamber works closely together with the German Development Cooperation. The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and the KFW Entwicklungsbank, as well as the German civil society organization Konrad Adenauer Foundation are all situated together with the BGCCI in the German House in Gulshan-2.

trade fair

The Bangladesh German Chamber of Commerce & Industry understands the needs of German and Bangladeshi enterprises. Its expertise and knowledge of the cultural specifics and characteristics of the German and Bangladeshi markets makes it the number one contact for all newcomers who wish to establish their companies in either Bangladesh or Germany. The Chamber intends to develop and explore new fields of economic cooperation that will increase trade and investment for the benefit of both our countries.
If you wish to have more information on the BGCCI and its activities please visit the website and do not hesitate to contact the BGCCI team at: info@bgcci.com

 Power And Lighting Expo will be held in Bangladesh. This show will be organized for three days, this is one of the most eminent and significant show for the techno commercial industries. This event will be focusing on the power generation, renewable of energy, building automation, quality power and other such application.
Power And Lighting Expo will display the latest products and services, machinery tools, equipments and industry developments which will help in boost up market sale and business profits. The exhibitors will directly meet their targeted customers. The show will also provide with ideal networking opportunities and long term relation with the customers. The visitors will get the latest information on the technologies and products. The visitors will be allowed to get hold of the products and services at the show.

A complete trade show list in Bangladesh. Find your specific Agriculture Trade Shows, Food & Marine Trade Events, Apparel & Clothing Trade Exhibitions, Automotive Trade Shows, Clearing & Forwarding Trade Events, Furniture Trade Shows, Medical & Pharmaceutical Trade Fairs, Travel & Tourism Trade Shows .etc in Bangladesh.

Chittagong International Trade Fair (CITF), the largest international trade fair in the country for the last thirteen consecutive years and the event has been a total success with respect to enthusiastic participation by leading local, foreign and multinational business & manufacturing enterprises of Asia, Europe, USA and African countries. 

Located in southern Asia, Bangladesh is situated on the Bay of Bengal between Burma and India. The tropical climate of Bangladesh causes a long, rainy season that forces many residents out of their homes during monsoons. The rains along with political instability, poor infrastructure, corruption, and insufficient power supplies make it difficult to implement change. SERRV works with artisan cooperatives in Bangladesh to support local infrastructure, provide needed income to families, and assist in material and educational expenses for local residents.
 

trade fair

Bangladesh balance of trade

Bangladesh - Balance of payments 

The continuing trade deficit has been offset in small part by private transfers, mainly from earnings of workers in the Middle East, but large amounts of foreign aid and heavy short-term borrowing are needed to handle the balance-of-payments problem. In FY 1991/92, the infusion of $1.59 billion in foreign aid and transfers helped lessen a negative balance of payments. In 1995, the trade deficit widened and there was a stagnation in the growth of remittances from overseas workers. The rising trade deficit, coupled with a decline in international aid disbursements due to political turmoil, caused foreign exchange reserves to drop from a peak of $3.4 billion in April 1995 to $2.1 billion by the end of 1996, and $1.7 billion by 1999.

During the 1990s, the manufacturing sector revived, due to export growth led by garments and knitwear. Bilateral quota systems with developed country markets, whose quota regimes limited the exports of many competing Asian suppliers, were a factor in the growth of garment exports starting from 1994. Other factors contributing to the success of the garment industry in Bangladesh include few governmental regulations; the provision of customs-bonded warehouses for imported cloth; and financial arrangements allowing foreign banks to finance raw materials inventories. Nevertheless, Bangladesh must diversify its export base in order to improve its trade imbalance—garments and knitwear continue to account for 75% of export earnings. Leather and shrimp are potential growth sectors. The elimination of the quota system on textiles and clothing under the WTO was due to expire in 2005, and Bangladesh will need to improve the performance and quality of its garment export sector 

world trade

 

Bangladesh-Balance and Terms of Trade 

Bangladesh has had a negative trade balance since independence in 1971. In the mid-1980s, the annual pattern was for exports to cover only around 30 percent of the cost of imports (see table 14, Appendix). Merchandise exports reached the value of US$1 billion in FY 1987 for the first time, and in that year import payments were US$2.6 billion, leaving a trade deficit of over US$1.5 billion, about average throughout the 1980s. The annual deficit was limited by government controls to between US$600 and US$700 million on capital goods and US$500 million on nonagricultural industrial commodities. The largest component in the latter category was crude oil and petroleum products. In addition, Bangladesh incurred a debt each year for grain and other food needs, always higher than US$200 million, and sometimes going to double or even more (at least US$607 million in FY 1985). The country had a positive balance on nonfood agricultural production, because jute and ready-made garment exports eliminated the deficit in fibers, textiles, and garments. 

In FY 1986, the United States was the leading buyer of Bangladeshi exports, taking some 25 percent of the total. The American portion had increased from 16 percent the year before and 12 percent the year before that. The dynamic new element was readymade garments; the United States purchased over 80 percent of this new industry's production, adding to Bangladesh's traditional base of jute manufactures (mostly carpet backing) and seafood. The next biggest customer for Bangladesh (but with only 28 percent of the American volume) was Japan, which chiefly purchased frozen seafood. Other important customers in FY 1986 were Britain, Italy, Pakistan, Singapore, and Belgium. Trade with communist countries was also significant. Almost 10 percent of exports were under barter terms with the Soviet Union, China, Bulgaria, Hungary, and Czechoslovakia.

One way the society has been able to turn its economic problems and overpopulation to some advantage is by exporting workers to wealthy, Islamic countries, chiefly in the Persian Gulf. The remittances from these workers have come to constitute one of Bangladesh's greatest sources of foreign exchange. In FY 1986 remittances were nearly US$575 million, covering 23.5 percent of import financing requirements and substantially exceeding the total receipts from jute, the chief export. The government maintained records only of new recruits working abroad each year--a peak of 77,694 in 1985--but knowledgeable observers believed that possibly as many as 450,000 were overseas at any one time. Throughout the 1980s, more than a third went annually to Saudi Arabia with a peak of 39,350 new recruits in 1987 (see table 6, Appendix). Other countries receiving large number of Bangladeshi workers in 1987 included the United Arab Emirates (9,953), Kuwait (9,559), Qatar (5,831), and Iraq (3,847). Such workers normally contracted to remain abroad three years and often stayed several years longer. They worked as laborers, under terms negotiated government to government, and generally lived under segregated conditions that effectively prevented Bangladeshi men (who cannot bring their families with them) from assimilating with the local population or experiencing non-Bangladeshi ways of life. When they have returned to Bangladesh with savings and material acquisitions, they generally have had no difficulty fitting back into their society.  

balance trade

Balance of Trade refers to the difference between the value of a country's merchandise exports and the value of its merchandise imports. The trade regime of Bangladesh has undergone many changes over the years. Initially, it followed a line of import substitution, implying a stress on restricting imports. The country also had difficulties in import financing during the 1970s. But with the change in government policy towards promoting a laissez faire economy and with inflows of foreign aid in increased volumes, Bangladesh started to import more in the early 1980s. There was a marked departure in the trade policy of the country in the 1990s, when its trade regime was substantially liberalised with the implementation of the Financial Sector Reforms programme.

The export policy of the country up to 1990 was characterised by adoption of ad hoc measures, which discouraged the growth of the manufacturing sector having high export potentialities. The two-year export policy announced in 1993 contained a lot of incentives. Later, the government announced a five-year export policy for 1997-2002, which aimed at increasing production and trade through attracting entrepreneurs to establish export-oriented industries, improving the balance of payments through narrowing the trade gap with the diversification of exportables, and expanding the export base, developing marketability of export items, and establishing backward linkage with export-oriented industries. The new export policy contains an export development strategy leading to intensive export-oriented activities.

Bangladesh has been experiencing deficits in her trade balance despite adoption of many export promotion measures during the 1980s and 1990s. The deficit in the trade balance of the country increased from 8.5% of the GDP in 1975-76 to 14.1% of the GDP in 1981-82, and then gradually declined to 6.6% of the GDP in 1991-92. The deficit remained at a moderate level during the 1990s and was 6.9% of the GDP in 1997-98 and 5.5% of the GDP in 1999-2000. The decline in deficits in the trade balance was due to faster growth of exports during 1984-85 to 1994-95. During this period, there was a significant shift in the structure of the export sector from primary goods to manufactured goods and from traditional to non-traditional items of exports. The percentage share in the value of traditional items of exports declined from 97.27 in 1972-73 to 68.99 in 1982-83, and further to 12.17 in 1994-95. The percentage share in the value of manufactured commodities, on the other hand, increased form 57.03 in 1972-73 to 64.58 in 1982-83 and further to 86.98 in 1994-95. This marked shift in the structure of exportable goods was due to the substantial growth of the readymade garments sector during this period.

Along with the growth in exports, the import payments of Bangladesh also showed continuous increase. Export receipts as percent of GDP increased, amidst fluctuations, from 4.0 in 1974-75 to 6.9 in 1984-85, and further to 13.3 in 1994-95. Import payments as percent of the GDP, on the other hand, increased sharply from 8.0 in 1974-75 to 19.7 in 1984-85, and further to 22.6 in 1994-95. There were some structural changes in the composition of imports. Import payments in respect of major primary goods declined from $836 million in 1984-85 to $585 million in 1989-90, but rose to $868 million in 1994-95, and further to $1,448 million in 1998-99. On the other hand, import payments in terms of major intermediate goods increased from $433 million in 1984-85 to $567 million in 1989-90, to $924 million in 1994-95, and further to $1,104 million in 1998-99. Import of capital goods increased substantially from $691 million in 1984-85 to $1,296 million in 1989-90, $1,688 million in 1994-95, and further to $1,969 million in 1998-99. Despite the steep rise in import payments, a corresponding rise in export receipts helped in restricting the growth of the trade deficit. 

Bangladesh Balance of Trade

Bangladesh reported a trade deficit equivalent to 1196 Million USD in January of 2012. Historically, from 1995 until 2012, Bangladesh Balance of Trade averaged -1309.2400 Million USD reaching an all time high of -56.4000 Million USD in August of 2009 and a record low of -5370.6000 Million USD in June of 2008. Bangladesh exports mainly ready made garments including knit wear and hosiery (75% of exports revenue). Others include: Shrimps, jute goods (including Carpet), leather goods and tea. Bangladesh main exports partners are United States (23% of total), Germany, United Kingdom, France, Japan and India. Bangladesh imports mostly petroleum product and oil, machinery and parts, soyabean and palm oil, raw cotton, iron and steel and wheat. Bangladesh main imports partners are China (17% of total), India, Indonesia, Singapore and Japan. This page includes a chart with historical data for Bangladesh Balance of Trade.

Balance of Trade
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and consists of exporting more than is imported; a negative balance of trade is known as a trade deficit or, informally, a trade gap. The balance of trade forms part of the current account, which also includes other transactions such as income from the international investment position as well as international aid. If the current account is in surplus, the country's net international asset position increases correspondingly. Equally, a deficit decreases the net international asset position. The Balance of Trade is identical to the difference between a country's output and its domestic demand - the difference between what goods a country produces and how many goods it buys from abroad; this does not include money respent on foreign stocks, nor does it factor the concept of importing goods to produce for the domestic market

world trade

Bangladesh Current Account

Bangladesh reported a current account surplus equivalent to 264 Million USD in the fourth quarter of 2011. Historically, from 2005 until 2011, Bangladesh Current Account averaged 547.0600 Million USD reaching an all time high of 1417.0000 Million USD in September of 2009 and a record low of -557.0000 Million USD in June of 2005. Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). This page includes a chart with historical data for Bangladesh Current Account.

Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). The balance of trade is typically the most important part of the current account. This means that changes in the patterns of trade are key drivers in the current accounts of most of the world's economies. However, for the few countries with substantial overseas assets or liabilities, net factor payments may be significant. Positive net sales to abroad generally contributes to a current account surplus; negative net sales to abroad generally contributes to a current account deficit. Because exports generate positive net sales, and because the trade balance is typically the largest component of the current account, a current account surplus is usually associated with positive net exports. The net factor income or income account, a sub-account of the current account, is usually presented under the headings income payments as outflows, and income receipts as inflows. Income refers not only to the money received from investments made abroad (note: investments are recorded in the capital account but income from investments is recorded in the current account) but also to the money sent by individuals working abroad, known as remittances, to their families back home. If the income account is negative, the country is paying more than it is taking in interest, dividends, etc. For example, the United States' net income has been declining exponentially since it has allowed the dollar's price relative to other currencies to be determined by the market to a point where income payments and receipts are roughly equal of trade forms part of the current account, which also includes other transactions such as income from the international investment position as well as international aid. If the current account is in surplus, the country's net international asset position increases correspondingly. Equally, a deficit decreases the net international asset position.

Current account balance (BoP; US dollar) in Bangladesh

The Current account balance (BoP; US dollar) in Bangladesh was last reported at 2502421559.43 in 2010, according to a World Bank report released in 2011. The Current account balance (BoP; US dollar) in Bangladesh was 3556126394.05 in 2009, according to a World Bank report, published in 2010. The Current account balance (BoP; US dollar) in Bangladesh was reported at 926185438.56 in 2008, according to the World Bank. Current account balance is the sum of net exports of goods, services, net income, and net current transfers. Data are in current U.S. dollars.This page includes a historical data chart, news and forecasts for Current account balance (BoP; US dollar) in Bangladesh. Bangladesh is considered as a developing economy which has recorded GDP growth above 5% during the last few years. Microcredit has been a major driver of economic development in Bangladesh and although three fifths of Bangladeshis are employed in the agriculture sector, three quarters of exports revenues come from garment industry. The biggest obstacles to sustainable development in Bangladesh are overpopulation, poor infrastructure, corruption, political instability and a slow implementation of economic reforms.

trade balance

 

Improving trade with Bangladesh

Balance of Trade refers to the difference between the value of a country's merchandise exports and the value of its merchandise imports. The trade regime of Bangladesh has undergone many changes over the years. Initially, it followed a line of import substitution, implying a stress on restricting imports. The country also had difficulties in import financing during the 1970s. But with the change in government policy towards promoting a laissez faire economy and with inflows of foreign aid in increased volumes, Bangladesh started to import more in the early 1980s. There was a marked departure in the trade policy of the country in the 1990s, when its trade regime was substantially liberalised with the implementation of the Financial Sector Reforms programme.

The export policy of the country up to 1990 was characterised by adoption of ad hoc measures, which discouraged the growth of the manufacturing sector having high export potentialities. The two-year export policy announced in 1993 contained a lot of incentives. Later, the government announced a five-year export policy for 1997-2002, which aimed at increasing production and trade through attracting entrepreneurs to establish export-oriented industries, improving the balance of payments through narrowing the trade gap with the diversification of exportables, and expanding the export base, developing marketability of export items, and establishing backward linkage with export-oriented industries. The new export policy contains an export development strategy leading to intensive export-oriented activities.

Bangladesh has been experiencing deficits in her trade balance despite adoption of many export promotion measures during the 1980s and 1990s. The deficit in the trade balance of the country increased from 8.5% of the GDP in 1975-76 to 14.1% of the GDP in 1981-82, and then gradually declined to 6.6% of the GDP in 1991-92. The deficit remained at a moderate level during the 1990s and was 6.9% of the GDP in 1997-98 and 5.5% of the GDP in 1999-2000. The decline in deficits in the trade balance was due to faster growth of exports during 1984-85 to 1994-95. During this period, there was a significant shift in the structure of the export sector from primary goods to manufactured goods and from traditional to non-traditional items of exports. The percentage share in the value of traditional items of exports declined from 97.27 in 1972-73 to 68.99 in 1982-83, and further to 12.17 in 1994-95. The percentage share in the value of manufactured commodities, on the other hand, increased form 57.03 in 1972-73 to 64.58 in 1982-83 and further to 86.98 in 1994-95. This marked shift in the structure of exportable goods was due to the substantial growth of the readymade garments sector during this period.

Along with the growth in exports, the import payments of Bangladesh also showed continuous increase. Export receipts as percent of GDP increased, amidst fluctuations, from 4.0 in 1974-75 to 6.9 in 1984-85, and further to 13.3 in 1994-95. Import payments as percent of the GDP, on the other hand, increased sharply from 8.0 in 1974-75 to 19.7 in 1984-85, and further to 22.6 in 1994-95. There were some structural changes in the composition of imports. Import payments in respect of major primary goods declined from $836 million in 1984-85 to $585 million in 1989-90, but rose to $868 million in 1994-95, and further to $1,448 million in 1998-99. On the other hand, import payments in terms of major intermediate goods increased from $433 million in 1984-85 to $567 million in 1989-90, to $924 million in 1994-95, and further to $1,104 million in 1998-99. Import of capital goods increased substantially from $691 million in 1984-85 to $1,296 million in 1989-90, $1,688 million in 1994-95, and further to $1,969 million in 1998-99. Despite the steep rise in import payments, a corresponding rise in export receipts helped in restricting the growth of the trade deficit.

Bangladesh provided a series of incentives to augment her export earnings viz., duty drawback facilities, tax holidays, bonded warehouse facilities, income tax rebates, availability of credit to exporters at concessional rates, retention of foreign exchange by exporters, the export credit guarantee scheme, Export Development Fund, depreciation of taka against dollar, etc. Consequent upon taking all these measures, export receipts from traditional items of exports continued to decline while export of manufactured products continued to increase during the nineties. The percentage share of traditional exports in total export earnings declined from 25.51 in 1990-91 to 12.17 in 1994-95, to 8.41 in 1997-98 and further to 7.55 in 1999-2000. The percentage share of manufactured products increased from 82.18 in 1990-91 to 86.98 in 1994-95, to 90.27 in 1997-98, and further to 92.45 in 1999-2000. The emergence of exportable goods like leather and leather goods and frozen foods in addition to readymade garments, added a new dimension to the export market of Bangladesh, leading to a rise in export earnings from manufactured goods.

The rise in import payments was faster than the rise in export earnings, resulting in the persistence of the trade deficit in Bangladesh. Faster rise in import payments occurred due to the liberal import policy pursued by the government, rise in prices of petroleum products, rise in food imports from time to time and also due to increased imports of intermediate goods and capital goods during the 1980s and 1990s.

Projects and Programmes

The European Union is among the three biggest donors of grants to Bangladesh. It ranks fifth for overall development assistance.

The EC-Bangladesh Country Strategy for 2007-13 is funded with an indicative total amount of €410 million under the EC's Development Cooperation Instrument country allocation. The present strategy focuses mainly on three areas where the EC's comparative advantages are best able to contribute to delivering Millennium Development Goal (MDG) targets.

1. Human and social development especially in education and health to further help achieving the sectors’ MDGs.

2. Good governance and human rights strengthening governance institutions and Bangladesh’s democracy, improving the delivery of public services, strengthening public financial management, and promoting the protection of human rights, including minority rights. Substantial support to the Chittagong Hill Tracts development process and to Rohingya refugees fall also under this area.

3. Economic and trade development – With the EU being Bangladesh’s no. 1 trade partner, the EU has a comparative advantage in enhancing competitiveness and investment climate in Bangladesh by supporting measures to improve trade and private sector development into an overall pro-poor growth approach.

Trade Relations With Bangladesh Improving: Pranab

trade centre

Finance Minister Pranab Mukherjee today said that trade relation with Bangladesh is improving and India will take steps to correct the imbalance.

"The overall relation, including trade, is improving with Bangladesh and there is a need to improve trade relations more as India exports more than it imports from that country," Mukherjee said at the inauguration of a car pass project between India and Bangladesh at this land customs station.

Mukherjee said that last November, India allowed a large number of items to enter from Bangladesh at zero duty.

He said this step would correct, to some extent, trade imbalance between India and Bangladesh.

The Finance minister said that both the countries enjoy same cultural heritage and national poets are also the same.

All these would lead to a healthy relationship between the two countries, he added.

Bangladesh Finance minister Abul Maal Abdul Muhith said that the Sheikh Hasina government had been always engaged in improving ties with India.

"We are also getting reciprocal gesture from India," he said.

About the car pass project, by virtue of which trucks from both the countries can enter respective areas, he said it would facilitate India and Bangladesh.

Bangladesh Enterprise Institute (BEI) in association with the Commonwealth Secretariat, UK organized A two-day Regional Symposium on 'Improving Trade Flows in and from South Asia: Overcoming Logistics Challenges'  held on 22nd June and 23rd June 2011 from 9:30 am to 5.00 pm on the day 1 and 09.30 am to 4.00 pm on the day 2 at Ruposi Bangla Hotel (Former Hotel Sheraton), Dhaka, Bangladesh.

Mr. Muhammad Faruk Khan, MP, Honourable Minister,  Ministry of Commerce Government of the People’s Republic of Bangladesh had kindly consented to be the Chief Guest at the event.

The objective of the Symposium is to assess and identify the existing bottlenecks in improving the trade facilitation system in South Asia. This symposium will bring together senior representatives from the government, policy makers, and the private sector, development partners, academia, corporate houses and media to discuss the logistics challenges and suggest possible recommendations to facilitate the intra-regional trade in South Asia. In this regard your expertise and active participation will enrich the discussion.

improving trade

India, Bangladesh extend protocol to liberalise trade

Sunday, 01 April 2012 13:54

New Delhi: Commerce Secretaries of India and Bangladesh - Rahul Khullar and Mohammad Ghulam Hussain respectively extend the countries'' bilateral trade treaty by three years.

They made the announcement here on the conclusion of the two-day long talks, which were the first bilateral secretary-level talks between India in eight years.

"There is an overarching framework agreement which guides how the relationship is to be managed. Within that context, I am pleased to announce that we have come to an agreement, that the trade treaty, which was due to expire on the 31st of March, will be renewed for a period of three years," Khullar said.

Speaking in favour of a freer flow of goods between the two countries, Khullar stressed on the importance of trade ties between the sub-continental neighbours.

"It''s a very vital strategic partnership. I particularly welcome the point that Mr. Hussain, the commerce secretary made repeatedly, which is that our relationship at the broadest, highest levels is at one of its peaks, and we must continue to nurture that relationship carefully, judiciously, so that it flourishes," he said.

Hussain said that the benefits of improving trade relations between the two countries would become more visible with time.

"Everything is now duty-free to India, except 525 items of tobacco and liquor. So, Bangladesh has just given these benefits a few months back. It will take some time, and already there are some positive signs of improving relations. In terms of preferential market access, the opportunity is being used by the exporters of Bangladesh," he added.

Speaking on the fact that India''s exports to Bangladesh far exceeded imports, Hussain said that the matter must be placed in context. Most of Bangladesh''s imports comprising machinery and raw material for manufacturing goods, he said that these imports helped the overall export rate of Bangladesh.

"Many people have talked about this trade gap. Personally, as Commerce Secretary, I am not very worried about that, because I would like to see, what are the products we are importing and what is the use of those products? That helps us to get more exports. That is also true. But in any case, Bangladesh''s exports to India are also growing at a very fast rate," he added.

The Bilateral Trade Agreement between India and Bangladesh was originally signed in 1980.The Agreement provides for expansion of trade and economic cooperation, making mutually beneficial arrangements for the use of waterways, railways and roadways, passage of goods between two places in one country through the territory of the other

Delhi, Dhaka on trade train

With over 100 Indian companies already in Bangladesh, it is not surprising that the country is on the banking radar. From Bharti Airtel, which has invested close to $1 billion, to the AV Birla Group, Arvind Mills and Sun Pharma and even smaller players who make fans, plastic products and garments, several Indian players are sensing an opportunity across the border.

The concessions given on export of textiles are beginning to have an impact and there is already a clamour for protection from Bangladesh, which is now among the largest textiles exporters. Indian officials, however, dismissed suggestions that import of textiles from Bangladesh were affecting the local industry, saying the local market was worth nearly $35 billion (Rs 1.82 lakh crore).

But officials from both sides recognize that there are several bottlenecks, starting with the pile-up of trucks at the border.

Bangladesh is also willing to open up more to Indian companies. They have said they are willing to offer one or two special economic zones to Indian companies. So far there has been no takers but expectations are that the plan will soon take off.

Bangladesh officials say the potential for raising bilateral trade is immense. Both sides have recognized the potential and it is upto the policymakers to seize the initiative to nurture the relationship which analysts say can accelerate the pace of regional integration in South Asia and transform the lives of people living along the India-Bangladesh border.

earn by trade

Improving rights for shipbreaking workers in Bangladesh
IMF delegation meet with Industry and Labour Ministers to discuss the need for improving the health, safety and rights of workers in the Chittagong shipbreaking yards, where workers currently toil under intolerable conditions.

BANGLADESH: "'Shipbreaking Act coming soon' to protect workers rights", is the news headline in the national press in Bangladesh, quoting Industries Minister, Dilip Baruac, after an International Metalworkers' Federation (IMF) delegation met with him on July 18 to discuss improving working conditions and rights in the shipbreaking industry.

The IMF delegation also met with the Labour Minister, Eng. Khandker Mosharraf Hossein, on the same day to highlight the serious concern of international trade unions about the intolerable working conditions in the shipbreaking yards in Chittagong and the lack of inspection mechanisms imposed on the shipbreaking owners.

Reference was made to the recent death of six workers in a shipbreaking yard, two of whom were burned alive. The unacceptable rate of fatalities and  life-crippling work accidents due to a complete lack of protective measures and lack of compliance with international guidelines have earned the shipbreaking yards the name of "death trap".

During the meetings with the government Ministers, IMF stressed the need to defend shipbreaking workers' rights to organize without being threatened or immediately dismissed by the shipbreaking owners and subcontractors, since Bangladesh has also ratified International Labour Organization Conventions 87 and 98 on the right to freedom of association and collective bargaining. Both Ministers indicated that they are aware of the situation and are working towards a law to protect workers' rights.

The IMF delegation, which included IMF affiliates in Bangladesh and the IMF affiliate for shipbreaking workers in India, assured them that IMF and the international trade union movement will be closely following the government's initiatives.  As the IMF delegation said, "If shipbreaking is seriously considered to be one of the  industrial driving forces in Bangladesh, the Government must demonstrate its political will to enforce workers' rights so that shipbreaking can become the pride of Bangladesh, instead of being the shame of Bangladesh."

Earlier, the IMF delegation visited shipbreaking yards in Chittagong with their affiliates and held a two day workshop with the participation of workers from the shipbreaking yards, journalists and Arun Kanti Das, Assistant Director of Labour in Chittagong in order for the IMF to get a clearer picture of the situation in Bangladesh. 

Turkish Airlines introduces direct flight from Dhaka

DHAKA, Feb 22 (BSS) - The Turkish Airlines, which operates flights between Istanbul and Dhaka via Karachi, has decided to operate direct flights from March 25, said a press release. The decision to establish the direct air connectivity between the two countries was taken during the Turkish Prime Minister's visit to Bangladesh in November 2010. Bangladesh embassy in Ankara played an important role in converting the flight into a direct one. The decision of introducing it as a direct flight was raised by Prime Minister Sheikh Hasina with the Turkish premier during their meeting in May 2011 in Istanbul. Officials expect that the new direct flight of the airlines would certainly have a positive impact in further improving trade and investment between Bangladesh and Turkey.

trade industries