Nabil365
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There are possibilities.Do you think Bangladesh will surpass 7% economic growth this year?
Nice avatar btw
Bangladesh Economy: News & Updates
- Thread starter Raquib
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I'm confident it can though I normally like to keep it safe and say it'll remain in the 6% range.Do you think Bangladesh will surpass 7% economic growth this year?
Nice avatar btw
And thanks, I like your avatar too. I should watch Labyrinth again, that was my favorite movie as a kid.
Nilgiri
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I ask because IMF is predicting a 7% long term growth. I was reading somewhere that Bangladesh is well on its way to realising 50 billion of just RMG exports by 2020, though this may have been before the current spate of USD appreciation.
I think B'desh is a solid performer these days, its median income and wealth parameters (as opposed to mean) are actually looking quite good....suggesting decent income equality. I think this is a large part of the Yunus Grameen Microcredit impact....which I hope to see India also achieve through its MUDRA scheme and other programs.
damiendehorn
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The dollar appreciation is actually good for Bangladesh exports, it make our exports more competitive. Recently the Taka has been appreciating against the Sterling, though this may have been due to the weakness of the Sterling.
Our primary RMG markets are the EU and the US, we haven't even started to build the exports promotion to the far east, ASEAN region and China. The total export market for RMG is around $450bn+ and we only account for just under $25bn of that. With the current growth we can easily reach $50bn in just RMG by the end of 2020 or early 2022 and still have further growth potential to 2035.
Our next target is the leather and footwear export, a market thats worth over $240bn, the white goods market thats worth trillions in export potential. If we can manage total exports to tune of $85bn -$100bn by 2025 I would be happy.
Bilal9
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Shining future for Bangladesh leather sector as China shifts focus
Shameema Binte Rahman, bdnews24.com
Published: 2015-03-09 01:32:23.0 BdST Updated: 2015-03-09 02:44:32.0 BdST
Bangladeshi manufacturers are seeing bright prospects for the leather sector after the readymade garment industry because of a policy change in China, the world’s largest economy.
They expect Bangladesh to be an attractive destination for leather sector entrepreneurs as China, the world’s largest footwear manufacturer, is shifting focus away from this sector.
The manufacturers believe Bangladesh’s annual $550-million footwear industry may grow to a $15-billion sector within a few years, if the opportunity is seized.
Leather sector businessmen say foreign entrepreneurs are interested in Bangladesh’s footwear, thanks to the availability of raw hide, processing infrastructure, low labour cost, and a slew of government incentives including duty-free machinery imports.
Leather Goods and Footwear Manufacturers and Exporters Association (LGFMEA) President Syed Nasim Manjur said at least 51 foreign companies had already expressed interest in establishing joint-venture footwear units in Bangladesh.
“China, the world’s largest footwear manufacturer, is now withdrawing from the global market. And our country is ready with huge potentials to attract foreign investments in the sector,” he said.
According to a report on Research and Markets - Market Research Reports - Welcome China’s annual leather footwear production had dropped by 5.29 percent in 2012 and 7.45 percent in 2013.
Bangladeshi manufacturers are planning to fill the vacuum in the international footwear market being left by China.
According to the Export Promotion Bureau (EPB), Bangladesh earned $ 1.29 billion from exports of leather, leather goods and footwear in the 2013-14 fiscal.
The amount accounts for 4.2 percent of the country’s total exports.
Footwear alone fetched $550 million in foreign exchange of the leather sector’s total export earnings.
In the 2012-13 FY, the footwear sector’s export earnings stood at $419.3 million.
Bangladesh has maintained the growth in the export of leather and leather goods in the current 2014-15 FY, too.
In the first eight months of the FY, the country posted a 7 percent growth in leather goods exports and 22.16 percent in footwear exports.
Nasim Manjur, also the managing director of Apex Footwear Ltd, says the country’s leather sector beats the RMG industry, the largest forex earner, ‘if their starting times are taken into consideration’.
He said China, Vietnam and Brazil, three big manufacturers of leather footwear, were cutting down on this sector.
“That’s why I think the leather industry is the most prospective sector after readymade garment for attracting foreign investments,” he added.
According to the LGFMEA, 110 export-oriented factories manufacture footwear in the country.
Of them, Apex, FB, Picard Bangladesh, Jenny’s, Akij, RMM Bengal and Bay have their own tanneries and leather processing units.
There are another 207 leather processing units in the country.
Asked about the reasons for China’s focus shift, Bangladesh Footwear and Footwear Accessories Association General Secretary Humayun Kabir said labour cost there had gone up.
He said footwear exports would grow if duties on import of shoe materials were cut.
The government has no specific information about the local footwear demand.
However, the footwear sector estimates it to be anywhere between 200 and 250 million pairs a year.
They said 92-95 percent of the domestic demand was met by local products.
Bangladesh is exporting raw leather since the early Seventies, but it got its first footwear exporter, Apex Footwear, in 1990.
Now Apex produces 20,000 pairs of footwear a day in its Gazipur factory.
Apart from catering to local demand, the company manufactures footwear for well-known known international brands such as Timberland, Aldo and ABC Mart.
Orion Group entered the leather industry last year after its successes in pharmaceuticals, power generation and infrastructure sectors.
Orion Footwear Chief Executive Officer Ruhul Amin Molla said Bangladesh’s footwear sector was poised for a big expansion.
Until 1990, Bangladesh used to export mainly raw hide, wet blue leather, and crust leather. But now it is concentrating on exporting finished leather and leather goods.
Bangladesh Hide and Skin Merchant Association President Md Ali Hossain said the country annually produced 200-300 million square feet of finished leather, most of which is exported.
He said Bangladeshi leather is the best in the world after the French product.
Stakeholders believe the country’s leather industry would see greater potentials once the tanneries are shifted from Dhaka’s Hazaribagh to Savar.
Shameema Binte Rahman, bdnews24.com
Published: 2015-03-09 01:32:23.0 BdST Updated: 2015-03-09 02:44:32.0 BdST
Bangladeshi manufacturers are seeing bright prospects for the leather sector after the readymade garment industry because of a policy change in China, the world’s largest economy.
They expect Bangladesh to be an attractive destination for leather sector entrepreneurs as China, the world’s largest footwear manufacturer, is shifting focus away from this sector.
The manufacturers believe Bangladesh’s annual $550-million footwear industry may grow to a $15-billion sector within a few years, if the opportunity is seized.
Leather sector businessmen say foreign entrepreneurs are interested in Bangladesh’s footwear, thanks to the availability of raw hide, processing infrastructure, low labour cost, and a slew of government incentives including duty-free machinery imports.
Leather Goods and Footwear Manufacturers and Exporters Association (LGFMEA) President Syed Nasim Manjur said at least 51 foreign companies had already expressed interest in establishing joint-venture footwear units in Bangladesh.
“China, the world’s largest footwear manufacturer, is now withdrawing from the global market. And our country is ready with huge potentials to attract foreign investments in the sector,” he said.
According to a report on Research and Markets - Market Research Reports - Welcome China’s annual leather footwear production had dropped by 5.29 percent in 2012 and 7.45 percent in 2013.
Bangladeshi manufacturers are planning to fill the vacuum in the international footwear market being left by China.
According to the Export Promotion Bureau (EPB), Bangladesh earned $ 1.29 billion from exports of leather, leather goods and footwear in the 2013-14 fiscal.
The amount accounts for 4.2 percent of the country’s total exports.
Footwear alone fetched $550 million in foreign exchange of the leather sector’s total export earnings.
In the 2012-13 FY, the footwear sector’s export earnings stood at $419.3 million.
Bangladesh has maintained the growth in the export of leather and leather goods in the current 2014-15 FY, too.
In the first eight months of the FY, the country posted a 7 percent growth in leather goods exports and 22.16 percent in footwear exports.
Nasim Manjur, also the managing director of Apex Footwear Ltd, says the country’s leather sector beats the RMG industry, the largest forex earner, ‘if their starting times are taken into consideration’.
He said China, Vietnam and Brazil, three big manufacturers of leather footwear, were cutting down on this sector.
“That’s why I think the leather industry is the most prospective sector after readymade garment for attracting foreign investments,” he added.
According to the LGFMEA, 110 export-oriented factories manufacture footwear in the country.
Of them, Apex, FB, Picard Bangladesh, Jenny’s, Akij, RMM Bengal and Bay have their own tanneries and leather processing units.
There are another 207 leather processing units in the country.
Asked about the reasons for China’s focus shift, Bangladesh Footwear and Footwear Accessories Association General Secretary Humayun Kabir said labour cost there had gone up.
He said footwear exports would grow if duties on import of shoe materials were cut.
The government has no specific information about the local footwear demand.
However, the footwear sector estimates it to be anywhere between 200 and 250 million pairs a year.
They said 92-95 percent of the domestic demand was met by local products.
Bangladesh is exporting raw leather since the early Seventies, but it got its first footwear exporter, Apex Footwear, in 1990.
Now Apex produces 20,000 pairs of footwear a day in its Gazipur factory.
Apart from catering to local demand, the company manufactures footwear for well-known known international brands such as Timberland, Aldo and ABC Mart.
Orion Group entered the leather industry last year after its successes in pharmaceuticals, power generation and infrastructure sectors.
Orion Footwear Chief Executive Officer Ruhul Amin Molla said Bangladesh’s footwear sector was poised for a big expansion.
Until 1990, Bangladesh used to export mainly raw hide, wet blue leather, and crust leather. But now it is concentrating on exporting finished leather and leather goods.
Bangladesh Hide and Skin Merchant Association President Md Ali Hossain said the country annually produced 200-300 million square feet of finished leather, most of which is exported.
He said Bangladeshi leather is the best in the world after the French product.
Stakeholders believe the country’s leather industry would see greater potentials once the tanneries are shifted from Dhaka’s Hazaribagh to Savar.
bongbang
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China to increase JVs in Bangladesh
Terming Bangladesh a very important country, visiting Chinese delegation leader Wang Chungui on Tuesday said China will ‘intensify’ its investment in Bangladesh to help it reach the next stage of development.
“China will intensify investment in Bangladesh and will help boost production capacity,” he told a seminar in the city and mentioned that both Bangladesh and China’s dreams are ‘connected’.
Wang Chungui, a former Chinese ambassadors to Bangladesh, said China is ready to encourage ‘competent Chinese companies’ to invest in Bangladesh and establish joint ventures with Bangladeshi companies.
Terming Bangladesh as his second home, he said Bangladesh and China need to maintain the ‘momentum’ in the relations on all fronts through stronger collaboration to benefit the people of both countries.
Bangladesh Institute of International and Strategic Studies (BIISS) hosted the seminar titled ‘Bangladesh-China Relations: 40 Years of Partnership’ at its auditorium.
State minister for foreign affairs M Shahriar Alam spoke at the inaugural session of the seminar as the chief guest.
Foreign secretary M Shahidul Haque, Chinese ambassador in Dhaka Ma Mingqiang, cIISS Chairman Munshi Faiz Ahmad, BIISS director general AKM Abdur Rahman and former Bangladesh ambassadors to China Farooq Sobhan also addressed at various sessions of the seminar.
Three other visiting former Chinese ambassadors to Bangladesh Hu Qianwen, Chai Xi and Zheng Qingdian who had worked in Bangladesh since 1997 also spoke on various aspects of the relations.
The Chinese delegation leader laid emphasis on maintaining high level exchanges, vigorous and practical cooperation between the two countries to boost bilateral relations.
On trade issues, he said China is willing to sign free trade agreement (FTA) with Bangladesh to further strengthen the trade ties.
Laying emphasis on Bangladesh-China-India-Myanmar (BCIM) economic corridor, the former Chinese diplomat said China is ready to expand cooperation in connectivity and sign an inter-governmental deal among four countries to get quick results on the BCIM issue.
Shahriar Alam in his speech said China’s unwavering commitment to Bangladesh’s socio-economic development has time and again been substantiated by her continued efforts to assist Bangladesh in fulfilling the legitimate wishes and desires of her people.
“We’re working closely on creating two Special Economic Zones wherein we expect to create mutual leverage points in investment and employment for securing exponential growth in both labour-intensive and technology-intensive commercial ventures,” he said.
The State Minister said Bangladesh has already elevated to a lower-middle income country and policies are en route to take GDP growth rate to 8 percent a year. “With China being the largest and fastest growing economy, and also being a role model for us, we would like to learn from the Chinese experience and short-circuit our growth trajectory to catapult into a higher paradigm,” he said.
Shahriar said the exchange of visits continued with several high-profile visits already taking place between two countries this year. “We expect that the end of this year would be happier with incoming visits of a higher profile this year. Let this year be the year we reaffirmed to intensify the existing ‘Closer Comprehensive Partnership of Cooperation’ between our two countries.”
He also said Bangladesh strongly believes that Bangladesh-China-India-Myanmar Economic Corridor (BCIM-EC), the One Belt-One Road initiative and the other measures of regional connectivity initiative will positively change the socio-economic scenario of not only two peoples but of all the peoples of this region.
“We look forward to working closely with China and our other friendly partners in development for creating a sustainable financial future for all of us in the region and beyond,” he said.
Current Chinese envoy Ma Mingqiang said they look forward to taking Bangladesh-China relations to new heights that will benefit the next generations of the two countries.
Farooq Sobhan described the various aspects of the current relations and potentials ahead saying ‘sky is the limit’ as far as Bangladesh-China relations are concerned.
Former industries minister Dilip Barua, senior civil and military officials, including current and former ambassadors, members of the academia, representatives of think tanks, experts and policymakers participated in the seminar and put forward their suggestions to boost the relations further.
http://en.prothom-alo.com/economy/news/93251/China-to-increase-JVs-in-Bangladesh
Terming Bangladesh a very important country, visiting Chinese delegation leader Wang Chungui on Tuesday said China will ‘intensify’ its investment in Bangladesh to help it reach the next stage of development.
“China will intensify investment in Bangladesh and will help boost production capacity,” he told a seminar in the city and mentioned that both Bangladesh and China’s dreams are ‘connected’.
Wang Chungui, a former Chinese ambassadors to Bangladesh, said China is ready to encourage ‘competent Chinese companies’ to invest in Bangladesh and establish joint ventures with Bangladeshi companies.
Terming Bangladesh as his second home, he said Bangladesh and China need to maintain the ‘momentum’ in the relations on all fronts through stronger collaboration to benefit the people of both countries.
Bangladesh Institute of International and Strategic Studies (BIISS) hosted the seminar titled ‘Bangladesh-China Relations: 40 Years of Partnership’ at its auditorium.
State minister for foreign affairs M Shahriar Alam spoke at the inaugural session of the seminar as the chief guest.
Foreign secretary M Shahidul Haque, Chinese ambassador in Dhaka Ma Mingqiang, cIISS Chairman Munshi Faiz Ahmad, BIISS director general AKM Abdur Rahman and former Bangladesh ambassadors to China Farooq Sobhan also addressed at various sessions of the seminar.
Three other visiting former Chinese ambassadors to Bangladesh Hu Qianwen, Chai Xi and Zheng Qingdian who had worked in Bangladesh since 1997 also spoke on various aspects of the relations.
The Chinese delegation leader laid emphasis on maintaining high level exchanges, vigorous and practical cooperation between the two countries to boost bilateral relations.
On trade issues, he said China is willing to sign free trade agreement (FTA) with Bangladesh to further strengthen the trade ties.
Laying emphasis on Bangladesh-China-India-Myanmar (BCIM) economic corridor, the former Chinese diplomat said China is ready to expand cooperation in connectivity and sign an inter-governmental deal among four countries to get quick results on the BCIM issue.
Shahriar Alam in his speech said China’s unwavering commitment to Bangladesh’s socio-economic development has time and again been substantiated by her continued efforts to assist Bangladesh in fulfilling the legitimate wishes and desires of her people.
“We’re working closely on creating two Special Economic Zones wherein we expect to create mutual leverage points in investment and employment for securing exponential growth in both labour-intensive and technology-intensive commercial ventures,” he said.
The State Minister said Bangladesh has already elevated to a lower-middle income country and policies are en route to take GDP growth rate to 8 percent a year. “With China being the largest and fastest growing economy, and also being a role model for us, we would like to learn from the Chinese experience and short-circuit our growth trajectory to catapult into a higher paradigm,” he said.
Shahriar said the exchange of visits continued with several high-profile visits already taking place between two countries this year. “We expect that the end of this year would be happier with incoming visits of a higher profile this year. Let this year be the year we reaffirmed to intensify the existing ‘Closer Comprehensive Partnership of Cooperation’ between our two countries.”
He also said Bangladesh strongly believes that Bangladesh-China-India-Myanmar Economic Corridor (BCIM-EC), the One Belt-One Road initiative and the other measures of regional connectivity initiative will positively change the socio-economic scenario of not only two peoples but of all the peoples of this region.
“We look forward to working closely with China and our other friendly partners in development for creating a sustainable financial future for all of us in the region and beyond,” he said.
Current Chinese envoy Ma Mingqiang said they look forward to taking Bangladesh-China relations to new heights that will benefit the next generations of the two countries.
Farooq Sobhan described the various aspects of the current relations and potentials ahead saying ‘sky is the limit’ as far as Bangladesh-China relations are concerned.
Former industries minister Dilip Barua, senior civil and military officials, including current and former ambassadors, members of the academia, representatives of think tanks, experts and policymakers participated in the seminar and put forward their suggestions to boost the relations further.
http://en.prothom-alo.com/economy/news/93251/China-to-increase-JVs-in-Bangladesh
Nilgiri
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Good, one video about "upcoming" within Bangladesh market (which is dominated by India to begin with).
Tell me when there is even a review within Bangladesh about walton cycles or at least a video of it being in action from user perspective.
BDforever
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go to street, you will get review
Nilgiri
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go to street, you will get review
So no one in B'desh can afford a go pro or smartphone...or Walton is not one to show off?
Just one video of Walton, Jamuna or whatever being run by a consumer (even if just in Bangladesh) is all I ask....since its the next big thing in BDesh.
I mean you Bdeshis are busy reviewing our bikes, why not your "own"?
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BDforever
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we are not kind of show off.So no one in B'desh can afford a go pro or smartphone...or Walton is not one to show off?
Just one video of Walton being run by a consumer (even if just in Bangladesh) is all I ask....since its the next big thing in BDesh.
Nilgiri
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BikeBD channel suggests otherwise: https://www.youtube.com/user/BikeBD/videos
But they are ashamed to review even one BD made bike (Walton, Jamuna)....so sad.
BDforever
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BikeBD channel suggests otherwise: https://www.youtube.com/user/BikeBD/videos
But they are ashamed to review even one BD made bike (Walton, Jamuna)....so sad.
Nilgiri
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