Al Mamoon

Defying all common wisdom, the world had never had an apex body for international tax cooperation.

Tamed inflation, descending gas prices, more job openings coming to the market every month, and the US dollar’s continued reign in the currency market all promise a prosperous 2023 for everyone in America - citizens, residents, students, or even visitors. If you are planning to come as a tourist, enrol here as a student or visit the US by any other means, try it now.

We must wait till November 17 to see how Rishi formalises his plans to prevent a recession creeping into the world’s sixth largest economy.

On July 12, the euro equaled the US dollar, a fall for the former since its journey began in 2002.  

Till the end of May our inbound remittance totaled $19.19 billion, $3.6 billion dollar less than that last year. With the current downward trend, in an optimistic estimate, we can eye a near $21 billion by the end of the financial year which would be 15 per cent less on a year-on-year basis. But based on this figure alone will it be justified to arrive at a decision that the magic of remittance have waned, we have run out of means to fill the increasing trade gaps, and are quickly embracing a bleak financial future? Before siding with a yes or a no let us revisit the trend of remittance flow. 

In the wake of a foreign currency crisis in the country three recent steps of the government that drew wide appreciation are the travel restrictions for government officials (Finance Division, May 12), lifting of source declaration requirement for over Tk 5 lakh remittance (Bangladesh Bank, May 23) and imposition of additional duty on 68 various importable items (National Board of Revenue, May 24). While we fashionably go against the government on every possible issue on social media, these three rather attracted profuse praise with the first one, cessation of foreign tours, causing hysteria.

Bangladesh’s total trade with the United States has crossed the $10-billion mark in 2021, a feat that we should celebrate and beat our drums in the run-up for 2022 that is beckoning a 12-billion-dollar milestone! First, let us look at blockbuster ten.

While touring Las Vegas recently, Commerce Minister Tipu Munshi expressed Bangladesh government’s willingness to scale up trade with the United States. He was talking to attendees at the Men’s Apparel Guild In California (MAGIC), the biggest fashion marketplace in the US, showcasing apparel, footwear and accessories and sourcing resources from all around the world.