Jagaran Chakma

Bangladesh bagged $447.43 million by exporting headgear products such as hats and caps in the last financial year, a positive development for a country that relies heavily on a handful of products to earn foreign currencies.

Kazushige Nobutani, president of the Japan External Trade Organisation (Jetro), is scheduled to come to Bangladesh today along with Yasutoshi Nishimura, minister for economy, trade and industry of Japan. Their visit is aimed at discussing the Economic Partnership Agreement (EPA) the two countries plan to ink in order to promote trade and investments. In an email interview with The Daily Star, Nobutani spoke about investment opportunities in Bangladesh for Japanese firms and challenges the face, among other issues.

It all started in early 2008 when the Japanese government announced the “China Plus One Strategy” to cut its over-reliance on the manufacturing behemoth by setting up business operations in other countries.

Experts blame dearth of skilled employees, managers locally

The sale of construction aggregates is growing steadily in Bangladesh in tune with increasing infrastructure development and economic activities, according to industry insiders. 

Exports of processed agricultural products declined in the immediate past fiscal year for a hike in the cost of production and raw materials which eroded competitiveness in the international market, according to Ahsan Khan Chowdhury, chairman and chief executive officer of Pran-RFL Group. 

The sale of vehicles of state-run automobile assembler Pragati Industries Limited has declined 75 per cent year-on-year in fiscal year 2022-23 owing to a halt in such purchases by the government. 

Bangladesh’s exports of ceramic products rose to a four-year high in the just-concluded fiscal year although the growth slowed as manufacturers failed to deliver products on time owing to the shortage of gas, official figures showed. 

Sales of sport utility vehicles (SUVs) and luxury cars are in the slow lane as the demand for high-end automobiles has fallen significantly amid the ongoing economic crisis, according to market players.

Bicycle exports from Bangladesh declined 15.31 per cent in the preceding fiscal year (FY) as demand fell amid the global cost-of-living crisis resulting from the ongoing Russia-Ukraine war.

Pharmaceutical exports from Bangladesh shrank 7 per cent year-on-year in fiscal 2022-23 due to the impacts of global economic crises and subsequent US dollar shortage in most underdeveloped countries.

Although Bangladesh posted a higher export growth in the just-concluded fiscal year on the back of garments and some non-traditional items, four major sectors suffered a fall, raising concerns for the economy and the employment sector. 

Bangladesh Railway (BR) is seeking a one-year extension on its loan tenure for the Padma Bridge Rail Link Project as a means to avoid upward cost revisions resulting from hassles in clearing payments after the task is complete.

Sales of motorcycles, particularly low-end ones, were disappointing ahead of the upcoming Eid-ul-Azha as the ongoing inflationary pressure has limited peoples’ purchasing power, according to market players.

The disappointment among rubber growers in Bangladesh is mounting as prices of latex and rubber sheet are declining despite being import substitutes for key materials used in various industries.

Bashundhara Group, one of the conglomerates in Bangladesh, will start offering toiletries and personal care products in order to have a share of the growing market for the consumer goods. 

Refrigerator and chest freezer sales are seeing steady growth in the lead up to this year’s Eid-ul-Azha as demand has soared thanks to the stable prices and various discounts on offer, according to market players.

The shipment of synthetic footwear and sports shoes from Bangladesh grew 6.21 per cent year-on-year in July-May of the outgoing fiscal year thanks to shifting orders from China and the expanding capacity of manufacturers. 

The proposed budget has provided relief to pharmaceuticals manufacturers and patients as it retained duty-free import benefits for over 100 raw materials used in making life saving cancer, heart disease and diabetes drugs. 

Premier Cement Managing Director Mohammed Amirul Haque says