61 Bangladeshi products up for duty waiver from India

[Sonic The Best]

61 Bangladeshi products up for duty waiver from India

Bangladesh is likely to get duty-waiver for exports of the proposed 61 products to India, during the visit of Indian Prime Minister Manmohan Singh to Bangladesh early next year.

The government placed a proposal to India seeking duty waiver for the products, including 54 readymade garments, in a bid to narrow the trade gap between the two countries.

Commerce Minister Faruk Khan during his visit to India in October also pushed for the waiver.

Khan said the announcement of the duty waiver might come either during the visit of the Indian prime minister or anytime next year. "The possibility of a waiver is high, as during my visit to India in October both the countries agreed on the move," Khan said.

"The Indian government is actively considering duty waiver for the 61 products, because the move will benefit both countries. It is a win-win game," Khan said.

Bangladesh enjoys duty-free facility in exporting eight million pieces of garment to India under an agreement signed in 2007.

During her visit to India in January, Prime Minister Sheikh Hasina proposed a broader duty-free facility for the Bangladeshi RMG products to the neighbour. Also, Bangladesh is pressing India to remove non-tariff barriers such as hidden taxes on apparel.

Abdus Salam Murshedy, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the quota of eight million pieces of garments for duty-free export to India already finished in the middle of this year.

"On completion of the quota of eight million pieces, we exported a lot of garment items with duty until the end of the year, as demand for Bangladeshi garment items in India is on the rise.

Of the total quota, affiliated members of BGMEA get a 70 per cent share, while the rest goes to the members Bangladesh Knitwear Manufacturers and Exporters Association. The trade deficit with India recently crossed the US$3-billion level.

The Island

 

[Gabbar]

Already posted:
http://www.defence.pk/forums/bangla...outs-indian-investors-wants-tatas-return.html

 

[F-16_Falcon]

Thanks for the prophecy. Now go troll in another thread.

I am telling the truth. Ask any bangladesh guy.

 

[CaptainJackSparrow]

I am telling the truth.

Oh yes, of course!

 

[eastwatch]

When India's past records of promise and its execution are considered, I really doubt India is in such a hurry to do a duty waiver thing to Bangladesh. MMH will come to Dhaka and will again make a big promise. It will be a no in essence and as usual. India consists of very feeble-minded people, specially at the top.

 

[Gabbar]

I am telling the truth. Ask any bangladesh guy.

 

[F-16_Falcon]

Oh yes, of course!

This is one way to take over bangladesh economy. all these so called duty free are not actually duty free. hidden terms are there. bangladesh is in indian trap.

 

[Ammyy]

This is one way to take over bangladesh economy. all these so called duty free are not actually duty free. hidden terms are there. bangladesh is in indian trap.

Ok

Can you stop it ????

 

[CaptainJackSparrow]

hidden terms are there.

Oh Ok may be you know something I don't.

 

[F-16_Falcon]

India consists of very feeble-minded people, specially at the top.

What the hell do you want to say. Stop ridiculing Bangladesh if you do not have anything objective to say. Stop trolling.

You can beg for duty free exports and telling the truth is troll? Your PM take aid and money from india and act against Pakistan.

 

[F-16_Falcon]

Read this. Am I wrong?

When India's past records of promise and its execution are considered, I really doubt India is in such a hurry to do a duty waiver thing to Bangladesh. MMH will come to Dhaka and will again make a big promise. It will be a no in essence and as usual. India consists of very feeble-minded people, specially at the top.

 

[F-16_Falcon]

past EXPIREINCE....??

we do not have any duty free export to bharat or any country. you learn the business from us, we sold your onions to you.

 

[Ammyy]

we do not have any duty free export to bharat or any country. you learn the business from us, we sold your onions to you.

all your post are reported

unnecessary troll

 

[CaptainJackSparrow]

you learn the business from us,

No thank you. We don't want our economy to land up in the same state as yours.

 

[genmirajborgza786]

Beggars are not choosers. So I say why hassina is paid well by india. in no time india will take over bangladesh economy. all the best. face the consequences.

my friend for your kind information you are not talking about an small GDP say for eg those small economies there are many dont know those names not important enough say like around 2.5 or 3 . but are talking about AN GOOD ECONOMIC POWER HOUSE whose gross domestic product of US$256 billion. The economy has grown at the rate of 6-7% 6-7% ! understood man with that much money let me assure you that the peoples republic of Bangladesh is not any where close to a beggar infact its the opposite shocked but thats the hard fact

The economy of Bangladesh is constituted by that of a developing country.[2] Its per capita income in 2008 was est. US$1,500 (adjusted by purchasing power parity). According to the International Monetary Fund, Bangladesh ranked as the 48th largest economy in the world in 2009, with a gross domestic product of US$256 billion. The economy has grown at the rate of 6-7% p.a. over the past few years

Economy of Bangladesh
Kawran Bazar (business headquarters of Bangladesh)
Rank 48
Currency Bangladesh Taka (BDT)
Fiscal year 1 July - 30 June
Trade organisations WTO, WCO, IOR-ARC, SAFTA, D8
Statistics
GDP $256 billion (2010 est. PPP)
GDP growth 5.6% (2009 est.)
GDP per capita $1465 (2010 est. PPP)
GDP by sector Agriculture (19%), industry (28.7%), services (53.7%) (2007 est.)
Inflation (CPI) 5.4% (2008 est.)
Population
below poverty line 36% (2009 est.)
Gini index 33.2 (2005)
Labour force 70.86 million (2008 est.)
Labour force
by occupation Agriculture (45%), industry (30%), services (25%) (2008 est.)
Unemployment 2.4% (2008)
Main industries textiles, jute, light engineering, tea, ceramics, pharmaceuticals, food processing, cement, shipbuilding, telecommunications, fertilizer, paper newsprint, chemicals, construction materials, transport
Ease of

External
Exports :$16.7 billion (2009-2010)
Export goods garments, textiles, jute and jute goods, ships, leather, produce, frozen fish and seafood, pharmaceuticals, ceramics, cement
Main export partners US 31.8%, Germany 10.9%, UK 7.9%, France 5.2%, Netherlands 5.2%, Kuwait 4.9%, Japan 4.5%
Italy 4.42% (2000)
Imports $24 billion (2009-2010)
Import goods machinery and equipment, chemicals, iron and steel, raw cotton, food, crude oil and petroleum products,
Main import partners China 11.4%, India 9.1%, Singapore 8.5%, Hong Kong 7.1%, Japan 6.5%,(2008)
Gross external debt $19.23 billion (31 December 2008 est.)

Main data source : CIA WORLD BOOK OF FACTS
All values, unless otherwise stated, are in US dollars

GDP's rapid growth due to sound financial control and regulations have also contributed to its growth. However, foreign direct investment is yet to rise significantly. Bangladesh has made major strides in its human development index.[3]

Improving at a very fast rate, infrastructure to support transportation, communications, power supply and water distribution are rapidly developing.[3] Bangladesh is limited in its reserves of oil, but recently there was huge development in coal mining. The service sector has expanded rapidly during last two decades, the country's industrial base remains positive.[3] The country's main endowments include its vast human resource base, rich agricultural land, relatively abundant water, and substantial reserves of natural gas, with the blessing of possessing the worlds only natural sea ports in Mongla and Chittagong, in addition to being the only central port linking two large burgeoning economic hub groups SAARC and ASEAN.[3]
Contents [hide]

The land is devoted mainly to rice and jute cultivation of rice, fruits and produce, although wheat production has increased in recent years; the country is largely self-sufficient in rice production.[3][3] Bangladesh's growth of its agro industries is due to its rich deltaic fertile land that depend on its six seasons and multiple harvests.[3]

the country's industrial base remains positive.

Economy of Bangladesh - Wikipedia, the free encyclopedia

TRUTH : its better for many but for some its bitter