The Colours of Bangladeshbangladoot.se/kaleidoscope/Nov-Dec 2010.pdf · Combined Junior School Exam and Junior Dakhil Exam held for the first time Bangladesh introduced combined Junior

Newsletter of the Embassy of Bangladesh, Stockholm Volume IV| Issue VI | November - December 2010

The Colours of Bangladesh

News Items......................................................... Art & Litreature................................................. Business, Economy, Trade & Investment....... Embassy Activities............................................

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09 10 12 15

Inside this Issue:

Perspective.......................................................... Current Affairs................................................... Foreign Affairs................................................... Feature.................................................................

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02 03 05 06

The Embassy of Bangladesh Stockholm

Love, Monir 1975

Bangladesh is evidently making steady and satisfactory progress in its economic, trade and investment, development, and cultural spheres. In a well managed and stable macro economy and in the best maintained environment of trade and investment along with new and specially rising sectors like ship building and jute Bangladesh is scoring high in the economic performance. The months of November and December 2010 brought the good news of many sectors. During the second half of the year 2010 Bangladesh out performed many other economies by posting a trade growth of around 40%. Foreign investors came and interest for FDI came from countries like Japan and Denmark. Decisions on arrangements of Joint Action and Joint Commission with countries such as Australia and Cambodia came as good signals. Expansion and big jump in growth of Bangladesh’s formerly glorious sector of jute (a natural fibre) during the last season and continued strong performance of the new industrial sector of ship building were also positive stories for the economy. The 40th Victory Day celebration on

F i r s t W o r d

P e r s p e c t i v eP e r s p e c t i v e

December 16 last, festivals and cultural activities brought a sense of joy, national pride, and fresh determination of the Government and people to go ahead with their projects of development and prosperity. Steps for scientific and technological advancement such as vehicle assembling, IT sector expansion also came as good news. Winter, the season best enjoyed in terms of our tourism and culinary perspectives also brought the success news of a Sweden based Bangladeshi chef and restaurant owner getting the UK Curry Awards for Ex-cellence. Government has rightly declared 2011 as the year of tourism with measures to develop the sector..

I would invite all-those working in development partnership with Bangladesh private sector business and institutions in the Nordic countries to come forward for increasing engagements with Bangladesh and thereby benefit from cooperation with an economy expected to grow by 6.7% in 2011 and an economy being rated as one of the ‘next 11’ after BRIC. A.F.M. Gousal Azam Sarker Ambassador & Chief Editor

international buyers are demonstrating their interests in Bangladeshi products and services. The New Year came with the pleasant news of earning of almost 2 billion US dollar, 1.99 billion to be exact, solely in December 2010 which is an all time record earning in a month. The sign is such that the record would be broken soon. With strong export performance in the backdrop, month-long Dhaka International Trade Fair was inaugurated on first day of 2011 and has been attracting lot of international attention. I hope readers would also enjoy the features on Spain based prominent Bangladeshi Artist Monirul Islam. Khandker Masudul Alam First Secretary

We take this opportunity to wish you a very happy New Year, 2011 to begin with. We have organized this issue of Kaleidoscope in usual formation with news and information that our readers would find interesting. Reports on visits by Hon’ble Prime Min-ister to Russia, Belgium, and Japan as well as overseas visits of Hon’ble Foreign Minister and a return visit of Hon’ble Prime Minister of Turkey to Bangladesh that marked the efforts of Bangladesh in international arena during last two months would be of interest to many. The salient features of investment opportunity in Bangladesh as well as the business news that we have added in this issue deserves careful reading in the context of present time where more and more

E d i t o r ’ s N o t e

2 KALEIDOSCOPE NOVEMBER– DECEMBER ISSUE 2010

Hon’ble Prime Minister visits Russia, Belgium and Japan

Visit to Russia: The Hon’ble Prime Minister H.E. Sheikh Hasina paid a visit to Russia to attend a Tiger’s Conference which held in St. Petersburg on 22-23 November 2010. In the sidelines of the conference she met Russian Prime Minister Mr. Vladimir Putin. The two Prime Ministers discussed cooperation in trade, economic, and

technical areas including a nuclear power plant

project. They agreed to take relations to a

higher plane.

Visit to Belgium: Hon’ble Prime Minister Sheikh Hasina paid a visit to Belgium on 24-27 November 2010. During the visit she had meetings with her Belgian counterpart H.E. Mr. Yves Leterme and the EU leaders namely Mr. Van Rompuy, President of Council of the European Union and Mr. Jose Manuel Barroso, President of the European Commission. In her meeting with the Belgian Prime Minister, the two Prime Ministers discussed among other things, cooperation in the areas of trade, technical coopera-tion, climate change and green technology. Higher export of RMG, jute, and leather products as well

as other non traditional items and IT and ex-port of skilled manpower was emphasized.

Hon’ble Prime Minister had two separate meetings with the President of Council of the European Union Mr. Herman Van Rompuy and President of the European Commission Mr. Jose Manuel Barroso on

25 November 2010 in Brussels and strengthening of Bangladesh-EU relations, a favourable rules of origin for Bangladesh, European FDI inflow in Bangladesh especially in the field of renewable energy were

highlighted among other things. European Union

leaders assured her that Bangladesh would get

adequate assistance from the promised European

Union Climate Change Adaptation Fund. The two European leaders lauded Bangladesh’s performances in implementing various adaptation projects to protect its people from the adverse impact of the global warming. They assured that Bangladesh would be given financial assistance that it deserved as one of the Most Vulnerable Countries to the climate change. EU support and assistance was also assured in Bangladesh's fight against terrorism and strengthening democratic foundation. Visit to Japan: Hon’ble Sheikh Hasina had a four-day official visit to Japan from November 28 to December 1, 2010 where she had meetings, among others, with Japanese Prime Minister Mr. Naoto Kan. The Prime Minister requested Mr. Naoto Kan to en-courage Japanese investors to invest in Bangladesh

Current Affairs

3 KALEIDOSCOPE NOVEMBER - DECEMBER ISSUE 2010

H.E. Sheikh Hasina with Mr. Herman Van Rompuy

H.E. Sheikh Hasina with H.E. Mr. Vladimir Putin

H.E. Sheikh Hasina with H.E. Mr. Yves Leterme

Current Affairs given a host of advantages of investing in

Bangladesh and the best investment friendly

environment existing in Bangladesh (considered

the second most profitable

economy among South

Asian countries). Bangladesh and Japan signed several agreements on economic cooperation. Japan expressed its willingness to enhance its part financing of the construc-tion of the long-cherished Padma Bridge (second largest in Bangladesh). Signing of a bilateral 'Comprehensive Economic Partnership Agreement', Japanese assistance for a "Digital Bangladesh" and transforming

Bangladesh into a middle income country as per the Vision-2021 were particularly emphasized by the Bangladesh Prime Minister. Bangladesh Prime

Minister addressed a number of investment conferences and meetings with representatives of Japan International Cooperation Agency, Japan External Trade Organization, and Japan Bank for International Cooperation to discuss investment, economic cooperation and development issues. She called upon the

Japanese investors to invest in Bangladesh in sectors like power, infrastructure, IT, renewable energy and textiles.

Turkish Prime Minister H.E. Mr. Recep Tayyip Erdogan visited Bangladesh during 13-15 November 2010. He had a meeting with Bangladesh Prime Minister Hon’ble Sheikh Hasina on 14 November 2010. Prime Ministers of the two countries agreed to increase bilateral trade upto US$ 3 billion by 2015 and work closely on different international issues to maintain world peace and security as well as combating terrorism in all its forms and manifestations. During the visit, the two countries inked agreements and Memorandums of Understanding on healthcare and on exchange of land for setting up embassy offices in both the countries. Following the bilateral meeting, the two Prime Ministers addressed a joint press conference where the Turkish Prime Minister mentioned that his government and the private sector of Turkey would continue all out support and assistance to Bangladesh in emerging as a mid-income country by 2021. He expressed satisfaction at rise of trade from USD 47 M in 2002 to USD 644 M in 2010 (January-August), an increase of 67% and decision at the introduction of

direct Dhaka-Istanbul air-link, which would strengthen cooperation in various sectors, especially tourism. He also expressed Turkish interest in providing education and training to Bangladesh students and military. The Bangladesh Prime Minister urged upon her Turkish counterpart to encourage Turkish investment in Bang-ladesh in various sectors, including infrastructure de-velopment, energy production, river dredging, machin-ery and equipment plants, ICT, tourism, textile and particularly agro-based industries. She also sought Turkish support for Bangladesh candidature for a non-permanent seat in the UN Security Council (2016-17).

H.E. Sheikh Hasina with H.E. Mr. Nato Kan

Bangladesh and Turkey agree to boost trade and other sectors

H.E. Sheikh Hasina with H.E. Mr. Recep Tayyip Erdogan

KALEIDOSCOPE NOVEMBER– DECEMBER ISSUE 2010

4

Foreign Affairs

Foreign Minister meets Australian Foreign Minister

cooperation from Australia to Bangladesh including in the areas of trade, investment, development assistance, climate change mitigation and adaptation. Both the Foreign Ministers agreed in principle to establish ‘Bangladesh-Australia Joint Action Plan’ which could act as a permanent mechanism for regular bilateral talks between the two countries.

The Hon’ble Foreign Minister Dr. Dipu Moni, MP had an exclusive meeting with the Foreign Minister of Australia Mr. Kevin Rudd on 09 December 2010 in Bali, Indonesia in the sidelines of the 3rd Bali Democracy Forum. Appreciating the initiative of the present government to ensure better life for the people of Bangladesh, the Australian Foreign Minister offered all out

Foreign Minister calls for access of developing countries to IAEA assistance

(IAEA) Mr. Yukiya Amano at the Foreign Ministry, Dhaka on 13 December 2010. The Foreign Minister sought the IAEA’s technical assistance in institutional, technical and regulatory capacity building and training for Bangladesh for creating nuclear power plants in Bangladesh.

Developing countries like Bangladesh should have greater access to IAEA assistance for developing nuclear power plants to meet their growing power and energy demands – said the Foreign Minister Dr. Dipu Moni, MP during a courtesy call on her by the Director General of the International Atomic Energy Agency

Bangladesh and Cambodia to set up Joint Commission to boost bilateral relations

Both sides underscored the need to increase two-way trade between Bangladesh and Cambodia. The two ministers also agreed to set- up Joint Commission headed by the Foreign Ministers of the two countries. The Ministers also agreed to conclude bilateral agreements on agricultural cooperation, cultural cooperation and investment promotion and protection.

Hon’ble Foreign Minister Dr. Dipu Moni, MP held bilateral talks with the Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation of Cambodia Mr. HOR Namhong in Phnom Penh on 28 December 2010. The two foreign ministers reaffirmed the commitment of their respective governments to further strengthen and deepen the existing bilateral relations.

Combined Junior School Exam and Junior Dakhil Exam held for the first time

Bangladesh introduced combined Junior School Exam and Junior Dakhil Exam to universalize different type of education systems that are existing in the country. 1.3 million students appeared at the exam that was held for the first time in 2010. A combined primary school certificate exam was also introduced an year ago. Some 2.5 million students appeared in the Primary School Certificate Exam of 2010. Holding such combined exams is an important part of government’s ongoing initiative for education reform and modernization under the purview of recently formulated National Education Policy 2010. These exams, which are now conducted with more creative questions and under a common curriculum, are important step towards modernizing as well as universalizing and standardizing education system.


“ Bangladesh is a land of natural wonders. God

has created this land with endless color and

incomparable beauty. So to say, this small country

of South Asia steps

ahead with immense

potential in tourism

industry. In recent

years, the industry

has played good roles

in enlivening economic, social and cultural impact

across the country. How blessed Bangladesh is to have inherited a glowing cultural legacy! It is a country in two thousand or more years of its vibrant history, rich in archaeological wealth, especially of the medieval period both during the Muslim and pre-Muslim rules. Its heritage reveals the ancient legacies of the Buddhist, Hindus and Mus-lims. The early history of Bangladesh reveals that Bud-dhism received royal patronage from some important ruling Hindu dynasties like the great Pal rulers, the Chandras and the Deva Kings. Under their patronage numerous well-organized monasteries sprang up all over the country. The combination of Dravidian, Indo-Aryan, Mongol/Mughal, Arab, Persian, Turkish, and West European cultures have also enriched our heri-tage, Here, kings, sultans and conquerors competed with each other to build beautiful palaces, mosques and temples. Its enormous beauty, hundreds of meandering rivers, crystal-clear lakes surrounded by ever green hills, luxuriant tropical rain forests, beautiful cascades of green tea gardens, world's largest mangrove forest preserved as World Heri-tage, home of the Royal Bengal Tiger and the wild lives, music of birds in

green trees, wind in the paddy fields, abundance of sunshine, world's longest uninterrupted natural sea beach, rich cultural heritage, relics of ancient Buddhist civilizations and colorful primitive lives, - Bangladesh creates an unforgettable impression of a land of endless color- Tourists are cordially invited here to savor

tourism surprises of Bangladesh. From different

outlooks, significance, natural beauties, new

tourism ideas, the country can be rediscovered

competitively and distinctively. Entertainment

and cerebral pleasure of tourists move forward

with soothing climate, natural wonders, archaeo-

logical sites and monuments, individual culture,

peculiar life styles of different kinfolk and

appetizing cuisines; which also hold the present

time to instigate tourism boom. It is emerging...

Paharpur Buddhist Vi-hara is one of the best World Heritage sites. A small site-Museum built in 1956-57 houses the representa-

tive collection of objects recovered from the area, where the statues of Buddha and Vishnu are to be seen. The excavated findings have also been pre-served at the Varendra Research Museum at Rajshahi. The archeological objects of the museum contain commemorative inscriptions through sculptures, metaphors of different gods and goddesses, potteries, coins, message, decorative bricks and other trivial mud objects. It is important to know, as a tourism destination Bangladesh is truly hard to beat. A country in South Asia with an area of 144,470 square kilometers, Bang-ladesh definitely offers a lot to see enjoy and do.

Bangladesh to reach the height of tourism

Feature


6


The splendor of its six seasons presents a diverse

eco-system. The world's longest natural beach

(120 km) at Cox's Bazaar, the nearby jungles and

forests with their rich variety of flora and fauna,

the Chittagong

Hill Tracts’

cloud forests so

named because

the moisture of

the mists linger

on tree leaves

and fascinate tourists. A cable car network to be set up at Bandarban would enable tourists observe the plant and animal life from the treetop level. For the more adventurous, there are places built for the tourists to get the experience of moving from tree to tree using a network of rope attachments. Dry forests in some parts of Chittagong, seasons’ variation every two months, an abundance of canals and rivers can be at-traction for tourists. Besides many species of birds, there is Bangla-

desh's exotic wildlife that includes the majestic

Bengal tigers, mon-

keys, jaguars, bats,

deer and reptiles.

For nature tours no

place can match

the Sundarbans, the

world’s largest mangrove forest as has rightly been

identified by World Heritage Site. Sea turtles and oysters come to certain beaches to nest, attracting, without fail, many nature lovers. The wild-life rich aquatic life of the Bay of Bengal and Bangla-desh's rivers remain added attractions. The Saint Mar-tins offer excellent scuba diving opportunities, quite different from the Caribbean waters. Tea and mangoes are some of the main exports

for Bangladesh. For tea lovers, this is the place to

taste the best liquoring teas in the world. A bit

strong, the liquoring teas are of course known for

their color too. Tour across the valleys of Sylhet

and its numerous tea plantations could quite a

thrilling experience. Tourists would think twice

before leaving the

miles of fascinat-

ing mango planta-

tions of Rajshahi

in the north-west

without tasting the

delicious fruits, of course in the season of mellow

fruit-fullness. The historic capital city of Dhaka is known for its

nice ancient architecture. It is also known as a city

of mosques. A tourist can go for trips to the vari-

ous hill stations, historic places and beaches using

Dhaka as the base. Chittagong, the port city

known for its low hills is full of greeneries. It is

closer to the resorts like Cox's Bazar. Bangladesh today is a country at the crossroads in global tourism market. She is moving towards the 21st century while still maintaining a link with the past. Bangladesh is a country whose sights and sounds delight a visitor and keep him returning again and again to this land in mosaic. Bernier, a French traveler in the seventeenth century aptly de-scribed this land as a place that “has a hundred gates

open for entrance but not one for departure.”



To achieve a consistent success from the tourism

industry, Bangladesh has taken some commend-

able initiatives including creation of tourist

accommodation and amusement facilities.

Government of Bangladesh has recognized tour-

ism as an industry and framed a National Tourism

Policy in 1992 for the development of domestic

and international tourism in Bangladesh, which

underlines a tourism marketing policy and human

resource development policy. The Industrial Policy of 2005 has included tourism as a thrust sector. The government has also declared to develop Cox's Bazar, the Sundarbanas and Kuakata as Special Tourist Zones (STZ). Foreign investments in these STZS are most welcome. The government is committed to extend unflinch-

ing cooperation to the private sector for the pro-

motion of tourism industry in Bangladesh. To en-

courage the private entrepreneurs in the tourism

sector, the government has taken various initia-

tives including leasing out of some outlets of the

national tourism organization to private sector on

private manage-

ment basis. For-

eign investors are

also most welcome

to invest in this

sector. The invest-ment may be either

in the form of joint venture or on 100% foreign own-ership basis. In order to encourage private and foreign investment the government is offering various incen-tives. The cliché “Bangladesh is a land of rivers and

birds” should be associated with “Bangladesh is a

land of tourism,” to represent the nation's natural wonders. It can bring out the core of the country: from past to present, from north to south, from east to west. There is so much to see and do in Bangladesh that many visitors return to see what they missed before. Bangladesh, no doubt, is reaching the height of tour-ism. The country is meaningfully trying to win tourists'

confidence.” - Mr. Shafique Alam Mehdi

(Adapted Version)

Bangladesh Parjatan Corporation

233, Airport Road, Tejgaon, Dhaka - 1215 Bangladesh Phone : +880-2-9120392 Fax : +880-2-8126501 E-mail : [email protected] Website : www.bangladeshtourism.gov.bd


8

Bangladesh among 30 top IT outsourcing nations

NEWS ITEMS

Bangladesh has emerged as global outsourcing hub following its enlistment in global IT outsourcing map for the first time, which would, according to the industry insiders, give a further boost to local software export. The recognition came as Gartner,

the world's leading IT research and consulting

company, ranked the country as one of the top 30

outsourcing countries on the basis of 10 criteria. Bangladesh Association of Software and Information Services (BASIS) announced the achievement of the country at a press conference at National Press Club on 26 December 2010.

Bangladesh hands-over largest cargo ships sold

Two sea-faring cargo ships, made by

Bangladesh, have been handed over to a German

company on 26 December 2010. Bangladesh company Western Marine Shipyard built those ships for German company, namely Grona Shipping Limited. The two ice-class ships, having a capacity of

5,200 DWT (deadweight tonnage) each, were built at Chittagong Dry Dock com-pletely under the supervi-

sion of Bangladeshi engineers at a cost of Tk 1.6 bil-lion (approx US$ 24 million).

Assembling Pajero jeeps and manufacturing trucks in Bangladesh

Pragati Industries Limited, the lone state-run

automobile assembling industry of Bangladesh

has started assembling Mitsubishi’s most

modern Pajero Jeep in Bangladesh. With this achievement, the customers in future will have the scope to buy a 'Pajero Sports Jeep' at around Tk 60 lac (US$ 87,000.00, approx.) whereas its present imported price is Tk 1.2 crore (US$ 174,000.00).

Meanwhile, Bangladesh will soon turn into an

automobile manufacturing country that will pave

the way for exporting ‘Made in Bangladesh’

trucks to the global market for the first time. Nitol-Niloy Group of Bangladesh joined hands with Tata Motors, India's largest automobile company, to set up the country's first automobile manufacturing plant.

Bangladesh born Swedish chef wins UK curry prize

Bangladesh-born Swedish national Mr. Mohammed Razaul Karim, the head chef and owner of the restaurant ‘Indian Garden’

in Stockholm, received ‘Curry Life Award of

Excellence Prize’ for the quality of his curries. Chef Karim Razaul who won against stiff UK and European competition was born in Bangladesh, trained as a chef in London at his cousin´s restaurant before moving to Sweden where he currently owns two restaurants.

Bangladesh elected member of PBC

Bangladesh has been elected as a member in the

Organizational Committee of the Peace Building

Commission (PBC) for two Years, 2011-12.

Bangladesh achieved this honour for sending the highest number of troops to the United Nations Peace Missions.


Art and Literature

Monirul Islam - living colours and dancing lines

Art and Literature

Cantando ahi confrecuencia el infinito

“Monirul lslam is renowned pre-eminently as a printmaker. He is equally adept in mixed and other media as well. After graduating from the Art Institute he had joined the teaching profession, serving the insti-tution for about three years. He re-

vealed a flair for watercolors then, specially the wash technique, as evident in the watercolors done during that period. In 1969 he was in Madrid on a Spanish government scholarship, and there took lessons in mural painting at the Real Academia de Bellas Artes de San Fernando. At

The first marriage day, Monir 2004

El Maestro, Monir 2008

that point in time, printmaking had acquired a re-spectable position, thanks to the efforts of leading American and European artists. Multifarious uses and experiments with the medium had, in fact, energized the entire art movement. In Madrid's expansive artis-tic environment, Monirul lslam had not only imbibed this creative trend, he proceeded to even re-invent it. His long experience and achievements, together with the lessons learnt from his Spanish exposure, had greatly enriched his artistic perceptions. His acquaint-ance with western celebrities, his friendship with Tapies and other luminaries, the whole process of learning, gleaning, assimilating, his continuous scrutiny and inventive power with regard to design


10

and streams, is depicted with a lot of passion. Though he has long been living abroad, Bangladesh's natural environment has always remained, either directly or symbolically, at the core of his work. This collection is a representation of his colourful and enlightened journey. Brilliant in their humane expressions, these pieces take on the very qualities and rhythm of poetry through his deft use of colors and enviable presentation. This folio holds together some of his works in print done at different times in his life, depicting Monirul Islam's power, passion and artistic uniqueness.”

− Mahmud Al Zaman

and technique had given his creative life a new impe-tus, leading him on to discover more novel ways of perfecting his art. Monirul lslam received the Accesit National Award of Spain from the Calcografia Nacionale in 1993. It was the first time ever the award was given to a non-Spanish. Through this relentless stream of intense activ-ity and experience, Monirul lslam emerged on the inter-national art scene as a distinguished artist. His works have been exhibited not only in Madrid but in other European galleries as well, establishing him as a master painter- printmaker. Beginning from the 70s till now he has created some extraordinary prints, in which nature's intrinsic beauty, particularly the waterworld of rivers

Castle on the beach, Monir 1986

Signos de elevacion, Monir 1996

Creation of a nation, Monir 1971

The shadows of the World, Monir 2001


Monirul Islam

E c o n o m y & I nve s t m e n t N e w s BUSINESS

Business, Economy, Trade, Event and Investment

Danish business delegation in Bangladesh supported by the Danish Embassy’s Business-2-Business programme. Danish Ambassador to Bangladesh, Mr. Svend Olling, while welcoming the delegation praised impressive and steady growth of Bangladesh for more than a decade and asked the Danish companies to take part in the development process of the country. “Trade-not-aid and the creation of

long-term and sustainable partnership is

definitely the way forward for a country like

Bangladesh” he added. The matchmaking session was inaugurated by the Hon’ble Minister for Indus-try of Bangladesh H.E. Mr. Dilip Barua, MP. He ap-preciated the efforts of the embassy and the Danish companies. He reiterated government’s continued support for promotion of the private sector as the central point of economic growth.

A Danish business delegation visited Bangladesh in December 2010 to find companies to be

long term partners in Bangladesh within the field

of environment and energy – renewable energy,

water, waste water, solid waste etc. 10 Danish companies from the renewable and sustainable sectors took on 45 Bangladeshi companies for discussing partnerships in a large matchmaking session on 5th December 2010. The objective of the matchmaking

programme was to introduce Danish companies to

relevant local companies in order to explore

possibilities for setting up long-term cooperation/

joint venture where Danish know-how and invest-

ments would be combined with local knowledge

and manpower skills. It is mentionable that there are more than 90 such partnerships between Danish and Bangladeshi companies at present which are being

Garment scraps head for Western living rooms worthless waste but he saw that they could be a

way to build a business. The first buyer, a German company Kik Textilien imported his products from Bangladesh. Now, Classical Handmade Products Bangladesh has an annual turnover of Tk 80 M ($1.2 M) and a workforce of 530, mostly women. His factories are now producing some 80,000 rugs a month, all of which are presently exported and sold

in Germany. According to the Bangladesh Ger-man Chamber of Commerce and Industry, the rugs already proved a

big hit in Germany, as they were

cheap, unique, handmade and

environmentally-friendly. And the German com-pany, Kik Textilen would like to increase the volume of their orders from Bangladesh as they are going to sale those rag-rugs in other European countries.

Every year, Bangladesh’s

garment sector produces

billions of dollars worth of

high-street clothes for

major western brands and

generates mountains of fabric off cuts in the

process. While an informal recycling sector has sprung up to deal with the scraps of leftover jeans and T-shirts churned out by the country's 4,500 garment factories, it produces only low-value products for domestic consumption. A Bangladesh company, namely Classical Handmade Products Bangladesh has found a new, more lucrative way of dealing with the estimated 100,000 tonnes of scrap fabric the garment sector produces each year making rag-rugs for export. The idea of Mr. Tauhid Bin Salam (owner of Classical Handmade Products Bangladesh) was that the rags

produced by the garment factories were seen as


12

B u s i n e s s & I n v e s t m e n t N e w s BUSINESS

More Investment opportunities in Bangladesh in manufacturing sectors The European Commission (EC)

on 18 November 2010 adopted a

regulation revising rules of origin

for products imported under the

generalised system of preferences (GSP) to simplify

the rules of origin. Special provisions are included

for Least Developed Countries (LDCs) which

would allow them to claim origin for GSP facility

for many more goods that are processed in their

territories, even if the primary materials do not

originate there and the local value addition is only

30%. For instance, a producer of Bangladesh that pro-duces and exports plastics to the EU will benefit from the new rules of origin, as with up to 70% of foreign input (raw material imported) the plastic products that Bangladesh would manufacture and export would still be considered as originating from Bangladesh. The new rules of origin applies from 1 January 2011. This new rules opens up new opportunities for

Bangladesh to expand its exports and also in-

creases investment in manufacturing industries in

Bangladesh. Foreign investors/ manufacturers can now gain more from investing or establishing busi-nesses in Bangladesh since this will give them increased opportunity to lower cost of production and to enjoy the benefits Bangladesh enjoys in terms of preferential trade as a member of LDCs.

Why Bangladesh is an attractive destination for investment:

− Bangladesh is world’s 7th largest country measured in popula-tion with approximately 150 million people thereby offering a potential home market expanding by about 6% annually for manufactured goods.

− Currently approximately 60% people are below 24 years and the work force is increasing with approximately by 1 M per-sons each year. The country has consistently developed a skilled workforce catering to investors needs. English is widely spoken, making communication easy.

− Longer tax holidays are available for foreign investors in Bang-ladesh, in some sectors such as renewable energy of 15 years.

− Bangladesh is an LDC country with a strong aspiration and probability to become a middle-income country within years.

− In 2009, Bangladesh was estimated to have the 18th fastest growing economy in the world. In recent years, country’s economy has been growing with approximately 6% annu-ally. Average GDP growth had been around 5%/yr for last two decades and steady growth has been sustained.

− Bangladesh has become the most cost efficient production hub in the world along with willing and easily trainable workforce - a well-educated, highly adaptive and industri-ous workforce with the lowest wages and salaries in the region.

− Bangladesh offers one of the most liberal foreign direct investment incentives in south Asia allowing 100% foreign equity with unrestricted exit policy, remittance of royalty and repatriation of profits and income in convertible cur-rency.

− GDP (PPP) is estimated at US$ 242 billion in 2009 making Bangladesh the 49th largest economy of the world ahead of countries like Denmark, and Finland. (In 2009: Denmark US$ 198 billion, Sweden US$ 335 billion, Norway US$ 268 billion, Finland US$ 178 billion).

− Inflation has been consistently kept in single-digit, exports have gradually shifted from traditional goods to more value added items, and emphasis is put on manufacturing, renew-ables and IT sectors.

− Trade is growing at a healthy pace. Export has risen by 16% annually from 2002 to 2008 and import has increased by 19% annually in the same period thus expanding the size of the economy and increasing economic activities.

− JP Morgan has labeled Bangladesh as one of the “frontier five” countries and Goldman Sachs has included Bangla-desh among the “next 11 countries to watch” after those of BRIC (Brazil, Russia, India and China) countries. In the same line Investor Chronicle has titled Bangladesh “among the seven hottest emerging markets”. Japan’s Mizuho Corpo-

rate Bank, in their China-ASEAN report, has mentioned Bangladesh as South Asia’s next rising star for FDI. Thus, Bangladesh has already become familiar in the world as an attractive investment destination.

− In its first ever sovereign rating, Bangladesh received BB-

from S&P (standard & Poors) and an almost equivalent Ba3 from Moody’s Investors Service. These speak of the safety and potentials of investing in Bangladesh.

− An Export Processing Zone (EPZ) of Bangladesh,


The Bangladesh Association

for Software and Information Services (BASIS), the national trade Association of software and IT services companies of Bangladesh, is going to organize the exposition BASIS SoftExpo 2011 from 01-05 February 2011 in Dhaka, Bangladesh. The main aim of this event is to present Bangladesh ICT market potentials to the international ICT markets.

More than 100 exhibitors and over 50,000 visitors are expected to take part (including USA, UK, the Neth-erlands and Denmark). This event will give immense opportunities for business match-making between local and foreign software/IT Enabled Services com-panies and clients. For more information about the event, please visit the website www.softexpo.com.bd and www.basis.org.bd

BASIS SoftExpo 2011

B u s i n e s s , E v e n t & I n v e s t m e n t N e w s BUSINESS

other member countries. − Especially the garment sector has been a success story in

Bangladesh. Today close to 80% of all exports are ready made garments. Nevertheless, significant export potential also exists in e.g. the leather products (2+1 formula in Asia after China and India), fisheries and livestock, IT industry, ocean-going and small and medium ship building, jute and jute related products (that was once the number one export product), ceramics, pharmaceuticals, handicrafts, services and logistics, etc. Other significant market opportunities for companies looking for new overseas markets are e.g. the energy sector, infrastructure services, construction and processing of food, and even health and education sectors.

Chittagong Export Processing Zone (CEPZ) was ranked 4th

as best economic potential in the global ranking and 3rd

in the best cost- competitiveness category by the re-nowned UK-based “Foreign Direct Investment” magazine (FDI) magazine which published this ranking after carrying out a survey among the world’s 700 economic zones in 2010 under heading “Global Ranking Competition of Economics Zones”.

− Apart from low production costs and a huge and growing local market, Bangladesh is strategically located next to India, China and ASEAN markets and as an LDC country Bangladesh has tariff-free access to several regions and countries. In addition, as the South Asian Free Trade Area (SAFTA) comes into force - investors in Bangladesh enjoys duty-free access to India and

Bangladesh rises in ‘Doing Business’ rankings

of the top 10 reformers worldwide in starting a busi-ness. “Doing Business Report 2011” that was re-leased on 04 November 2010 globally by Interna-tional Finance Corporation (IFC), a World Bank group wing, that was released globally, ranks 183 countries in terms of the ease of doing business and marked Bangladesh’s improvements from its 111th position to 107th in 2010.

Bangladesh has improved its

ranking and moved up by four positions to 107th place in the

World Bank’s Doing Business Report 2011. The country’s jump to the overall ranking is the biggest among the South Asian countries – thanks to reforms in two major areas – starting a business and registering property. The report also recognized Bangladesh as one

Norwegian Company keen to set up offshore power unit in Bangladesh

department separately in Bangladesh and expressed their interest. The DNV group would conduct a study between Moheshkhali and Kutubdia for setting up the power station. The group will study the depth of the sea, silting, weather pattern, behaviour of the sea and its pattern for further possibilities of renewable energy.

A Norwegian company, namely Det Norske Veritas (DNV) shows its interest to set up a liquefied natural gas (LNG)-based floating power station between Mo-heshkhali and Kutubdia islands off Cox's Bazar in Bangladesh. The Singapore-based managing director of DNV, Mr. Bjorn Tore Markussen, recently had meeting with officials of the shipping ministry and the shipping


14

Celebrating the Victory Day

The 39th anniver-

sary of the Victory

Day of Bangladesh

was observed by

the Embassy on 16

December 2010 in a befitting manner, with due

solemnity and fervor. The Victory Day celebrations began in the morning with hoisting the national flag of Bangladesh in the Embassy premises. Special prayers were offered for the departed souls of the martyrs, who laid down their lives during the War of Liberation in 1971, and for the continued peace and prosperity of Bangladesh. A programme was arranged in the evening consisting discussion meeting, children’s competition, and cultural performances (songs, recitations, and dances) to celebrate the day. A sizable number of mem-bers of the local Bangladesh community, representa-tives from Swedish media and academia as well as the officials of the Embassy attended the evening programmes. The messages from the Hon'ble President, the Hon’ble Prime Minister and the Hon’ble Foreign Minister were read out at the programme. In his speech during the programme, H.E. the

Ambassador paid rich tributes to the martyrs and

the freedom fighters of our War of Liberation and

recalled their supreme sacrifices for the independ-

ence of the country. He paid homage to the Father

of the Nation. He touched upon history of

Independence. He hoped that through hard

work and nation building activities, imbued with

the spirit of our Victory Day, we would success-

fully achieve our cherished goal of attaining

peace, progress and prosperity of our country.

He also highlighted the Vision 2021 of Hon’ble

Prime Minister and her Government’s priorities

and efforts designed and being conducted

accordingly towards realizing the Vision and

reaching the goals of the country. The

Ambassador encouraged the members of Bang-

ladesh community by enumerating some of the

successes and advancements made by

Bangladesh and suggested everybody to remain

optimistic and play their positive role in their

individual spheres.

Embassy Activities

Bangladesh Export Earnings Rise by 41 Percent

Bangladesh Export earnings in December amounted to US$ 1.99 billion, the highest ever in the country’s foreign trade history. During July-December of the current fiscal year (2010-11), exports soared to 41 percent, compared with the same period a year ago, according to the latest data released by the Export Promotion Bureau. In the first six months, Bangladesh shipped goods worth US$ 10.26 billion. The combined export growth of both knitwear and woven garment rose 42.09 percent in the period compared with the same period a year ago.


Bangladesh Government Website :

http://www.bangladesh.gov.bd/

Prime Minister’s office :

http://www.pmo.gov.bd/

Ministry of Foreign Affairs :

http://www.mofa.gov.bd/

Ministry of Commerce :

http://www.mincom.gov.bd/

National Board of Revenue :

http://www.nbr-bd.org/

Bangladesh Tariff Commission :

http://www.bdtariffcom.org/

Bangladesh Bureau of Statistics :

http://www.bbs.gov.bd/

Bangladesh Bank :

http://www.bangladesh-bank.org/

Biman Bangladesh Airlines :

http://www.biman-airlines.com

NGO Affairs Bureau :

http://www.ngoab.gov.bd/

Published by : The Embassy of Bangladesh, Anderstorpsvägen 12, 1 tr., 171 54, Solna, Sweden

Telephone : + 46 8 730 5850, Fax : + 46 8 730 5870, Email : [email protected]

For More Information on Bangladesh as well as consular, trade, business and tourist information, please visit Bangladesh Embassy website at http://www.bangladoot.se

Chief Editor : His Excellency, A.F.M. Gousal Azam Sarker Ambassador Editor : Khandker Masudul Alam, First Secretary Graphics & Design by : Tariq Ibne Abedin,

Trade Attaché

IIMPORTANTMPORTANT L LINKSINKS

Government Organizations

Tourism & Media

National Tourism Corporation:

http://www.bangladeshtourism.gov.bd/

Hotel and Travel Guide :

http://www.bangladesh.com/

The Daily Star (English) :

http://www.thedailystar.net/

The Financial Express :

http://www.financialexpress-bd.com/

The Daily Ittefaq (Bangla) :

http://www.ittefaq.com/

Trade, Bus iness & Investment

Board of Investment :

http://www.boi.gov.bd/

Bangladesh Export Processing Zones Authority (BEPZA) :

http://www.epzbangladesh.org.bd/

Bangladesh Garment Manufacturers and Exporters Asso-ciation (BGMEA) :

http://www.bgmea.com/

Export Promotion Bureau :

http://epb.gov.bd/

Registrar of the Joint Stock Companies & Firms :

http://www.roc.gov.bd/

Privatization Commission of Bangladesh :

http://www.pc.gov.bd/

The Federation of Bangladesh Chamber of Commerce and Industry :

http://www.fbcci-bd.org/

Dhaka Chamber of Commerce and Industry :

http://www.dhakachamber.com/

Chittagong Chamber of Commerce and Industry:

http://www.chittagongchamber.com/

Foreign Investors’ Chamber of Commerce and Industry :

http://www.ficci.org.bd/

Metropolitan Chamber of Commerce and Industry :

http://www.mccibd.org/

Dhaka Stock Exchange Limited :

http://www.dsebd.org/

Chittagong Stock Exchange :

http://csebd.com/cse/start.html

Business Information :

http://www.bizinfo-bangladesh.com/

Bangladesh Yellow Pages :

http://www.bgyellowpages.com/

The sources of all the articles, news items and other information in this newsletter are basically the newspapers published in Bangladesh. The contents are, therefore, unofficial.

Documents

The Colours of Bangladeshbangladoot.se/kaleidoscope/Nov-Dec 2010.pdf · Combined Junior School Exam and Junior Dakhil Exam held for the first time Bangladesh introduced combined Junior