Bangladesh may hold talks with ASEAN countries to sign FTA: Philippine envoy

[Black_cats]

Published on 06:00 PM, May 12, 2022

Bangladesh may hold talks with ASEAN countries to sign FTA: Philippine envoy​

Bangladesh may hold talks with ASEAN countries to sign FTA: Philippine envoy

After the graduation to a developing nation, Bangladesh may take the initiative for holding discussions with ASEAN countries to sign free trade agreement (FTA) to expand its export and trade, Philippine Ambassador Alan L Deniega said today.

www.thedailystar.net

Philippines Ambassador Alan L Deniega met Rizwan Rahman, president of Dhaka Chamber of Commerce and Industry, on Wednesday. Photo: Collected
Star Business Report

After the graduation to a developing nation, Bangladesh may take the initiative for holding discussions with ASEAN countries to sign free trade agreement (FTA) to expand its export and trade, Philippine Ambassador Alan L Deniega said today.

The ambassador came up with the observation during a meeting with Rizwan Rahman, president of Dhaka Chamber of Commerce and Industry, yesterday.

ASEAN is an organisation of 11 Southeast Asian countries, including Brunei, Myanmar, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Deniega said domestic tourism in Bangladesh is quite good and it is growing day by day, but infrastructure development is crucial here to attract foreign tourists.

The ambassador also opined that direct air connectivity between Dhaka and Manila can play a vital role to expand trade and investment opportunities, including tourism, between the two countries.

In the meeting, the DCCI president urged the Philippine investors to invest in the health and tourism sectors in Bangladesh.

He also proposed the Philippine envoy set up a nursing institute in Bangladesh to train medical professionals.

Rahman mentioned that the bilateral trade between the two countries was $124.24 million in the 2020-21 fiscal year, where the import and export of Bangladesh were $49.72 and $74.52 million respectively.

The signing of FTA, launch of direct air connection between Dhaka and Manila and modernisation of customs regulations can play a vital role to boost the trade and investment between the two countries, he said.

At the meeting, Akbar Hakim, president of the Bangladesh-Philippines Chamber of Commerce and Industry, stressed the need for taking initiative for arranging both ways reciprocal trade visits to enhance people to people connectivity between the two countries.

 

[mb444]

BD needs to prep and begin now. In the short term we will be net loosers following FTA but medium to long term the futures bright.

 

[UKBengali]

BD needs to prep and begin now. In the short term we will be net loosers following FTA but medium to long term the futures bright.

Absolutely.


Indonesia imports 200 billion US dollars of goods a year and if BD captured just 1% then that would be 2 billion US dollars a year.

 

[BananaRepublicUK]

Absolutely.


Indonesia imports 200 billion US dollars of goods a year and if BD captured just 1% then that would be 2 billion US dollars a year.

We shouldn’t be afraid of FTA.

It will actually force the government to curb our crooked government officials. Because intense competition will mean bribes have to end.

We only have a few industries and those are already super efficient.

FTA will speed up relocation of Chinese and Japanese factories into BD.

I have full confidence in our women folk - who are the engine of our manufacturing renaissance.

Our men are useless - mostly engaged in petty politics and/or civil service.

FTAs will also stop the license Raj at birth!

 

[UKBengali]

We shouldn’t be afraid of FTA.

It will actually force the government to curb our crooked government officials. Because intense competition will mean bribes have to end.

We only have a few industries and those are already super efficient.

FTA will speed up relocation of Chinese and Japanese factories into BD.

I have full confidence in our women folk - who are the engine of our manufacturing renaissance.

Our men are useless - mostly engaged in petty politics and/or civil service.

FTAs will also stop the license Raj at birth!

I wish that EU and no-one else gives BD any tariff-free access without FTA after BD graduates from LDC status in 2026.

This is now going to hold BD back as it will encourage the garments industry to not move up the value-chain and invest in machinery and technology.

BD exports to USA should surpass 10 billion US dollars this year and that is with 13% tariffs since 2013. This proves that BD garment industry is competitive already.

It is well time that BD learns to totally stand on its own two feet and trade itself to prosperity.

 

[Indos]

Absolutely.


Indonesia imports 200 billion US dollars of goods a year and if BD captured just 1% then that would be 2 billion US dollars a year.

This is for example data of import in Indonesia when it is breakdown are in majority raw material

Indonesia import history chart

In Million USD

Blue Line is Raw Material/Supporting Goods (which is essential for manufacturing industry)

Black Line is capital Goods which is also essential for manufacturing

Red Line is consumer goods

Consumer goods imports is less than 10 percent of Indonesian total imports.

 

[BananaRepublicUK]

I wish that EU and no-one else gives BD any tariff-free access without FTA after BD graduates from LDC status in 2026.

This is now going to hold BD back as it will encourage the garments industry to not move up the value-chain and invest in machinery and technology.

BD exports to USA should surpass 10 billion US dollars this year and that is with 13% tariffs since 2013. This proves that BD garment industry is competitive already.

It is well time that BD learns to totally stand on its own two feet and trade itself to prosperity.

The EU/U.K. wants to maintain tariff free access - as a lever to control and regulate our industrial sector.

I too hope it ends and we thrive like the US exports.

 

[BananaRepublicUK]

This is for example data of import in Indonesia when it is breakdown are in majority raw material

Indonesia import history chart

In Million USD

View attachment 843685

Blue Line is Raw Material/Supporting Goods (which is essential for manufacturing industry)

Black Line is capital Goods which is also essential for manufacturing

Red Line is consumer goods

Consumer goods imports is less than 10 percent of Indonesian total imports.

If the Indonesian government could see the bigger picture (shortcomings of modern Muslim nations) - it could take 60-70% of India’s share of BDs imports.

However, Indonesia is hell bent on protecting its uncompetitive sectors from BD.

In summary, in order to save 3-5 billion it is losing 10-15 billion.

 

[Indos]

If the Indonesian government could see the bigger picture (shortcomings of modern Muslim nations) - it could take 60-70% of India’s share of BDs imports.

However, Indonesia is hell bent on protecting its uncompetitive sectors from BD.

In summary, in order to save 3-5 billion it is losing 10-15 billion.

I am now wearing Bangladesh made T-Shirt LOL

 

[BananaRepublicUK]

I am now wearing Bangladesh made T-Shirt LOL

A week ago I bought Levis jean made by Vietnam, A shoes made in Indonesia

Brother Indos, I will not be happy until you are wearing Bangladeshi made underwear made with Indonesia made sewing needles!

That day I will die a happy man.

 

[UKBengali]

This is for example data of import in Indonesia when it is breakdown are in majority raw material

Indonesia import history chart

In Million USD

View attachment 843685

Blue Line is Raw Material/Supporting Goods (which is essential for manufacturing industry)

Black Line is capital Goods which is also essential for manufacturing

Red Line is consumer goods

Consumer goods imports is less than 10 percent of Indonesian total imports.

BD can easily capture 10% of the Indonesian consumer goods and services market for imports. It has enough in the electronics, IT and pharma sectors to sell this amount to Indonesia.

It already imports coal from Indonesia and maybe could buy some planes and other products it cannot produce itself as well.

 

[BananaRepublicUK]

BD can easily capture 10% of the Indonesian consumer goods and services market for imports. It has enough in the electronics, IT and pharma sectors to sell this amount to Indonesia.

It already imports coal from Indonesia and maybe could buy some planes and other products it cannot produce itself as well.

That’s called a win-win trade deal.

But Indonesia is shortsighted!

 

[Indos]

BD can easily capture 10% of the Indonesian consumer goods and services market for imports. It has enough in the electronics, IT and pharma sectors to sell this amount to Indonesia.

It already imports coal from Indonesia and maybe buy some planes as well.

Indonesia also has big indigenous electronic industry with its own brand, you can check this as example

1. Trajectory of Indonesia’s Electronics Industry

The trajectory of Indonesia’s electronics industry can be traced back to the 1950s with the founding of PT Transistor Radio Manufacturing Company (now known as PT National Panasonic Gobel Indonesia), the first domestic producer of transistor radios.

The early 1960s became a new beginning for the country’s electronics industry with the first production of black-and-white televisions. At that time, most electronic products in Indonesia were imported.

In the early 1970s Indonesia began the import substitution agenda, applying tariff and non-tariff barriers to restrict the imports of radios and televisions as finished goods. Rather than operating on their own, foreign electronics companies were encouraged to invest in the country through joint ventures and technical cooperation with domestic firms to supply domestic demand.

https://electronicswatch.org/region...-industry-indonesia-december-2018_2554862.pdf


---------------------------------------------------------------------------

History of Panasonic Gobel Indonesia

1954
With the spirit of nationalism to produce communication tools for the Indonesian people, in 1954 Drs. Haji Thayeb Mohamad Gobel founded PT Transistor Radio Manufacturing in Cawang, Jakarta which was the pioneer of the first Radio Transistor Factory in Indonesia with the brand "Tjawang".

1957
Drs. H. Thayeb Moh. Gobel received a Colombo Plan scholarship where he continued his studies in Japan and met with Mr. Gobel. Konosuke Matsushita, founder of Masushita Electric Industrial Co.Ltd.

1960
The signing of the Technical Cooperation Agreement between PT Transistor Radio Manufacturing and Matsushita Electric Industrial Co. Ltd., (Japan).

1962
Based on the cooperation agreement, PT Transistor Radio Manufacturing produces the first colorless television so that Indonesians can watch the Asian Games (Jakarta)

The first product was given to the First Lady of Indonesia, Mrs. Fatmawati Soekarno.

1970
Inauguration of PT Panasonic Manufacturing Indonesia (PT National Gobel)

1974
Inauguration of PT Met Gobel, a local factory that supports trading activities and imported products from Matsushita to Indonesia that are not produced by PT National Gobel. PT Met Gobel imports both electronic products for consumer needs and electronic products for work needs, such as broadcasting equipment and capital equipment for factories.

Sejarah Perusahaan - Profil Perusahaan - Tentang Kami - Panasonic Gobel Indonesia

Panasonic memulai perjalanannya dari keinginan untuk menciptakan hal-hal yang bernilai.

www.panasonic.com

- YouTube

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www.youtube.com

The following export product groups represent the highest dollar value in Indonesian global shipments during 2020. Also shown is the percentage share each export category represents in terms of overall exports from Indonesia.

1. Mineral fuels including oil: US$25.6 billion (15.7% of total exports)
2. Animal/vegetable fats, oils, waxes: $20.7 billion (12.7%)
3. Iron, steel: $10.8 billion (6.6%)
4. Electrical machinery, equipment: $9.2 billion (5.7%)
5. Gems, precious metals: $8.2 billion (5%)
6. Vehicles: $6.6 billion (4%)
7. Rubber, rubber articles: $5.6 billion (3.4%)
8. Machinery including computers: $5.2 billion (3.2%)
9. Footwear: $4.8 billion (2.9%)
10. Paper, paper items: $4.2 billion (2.6%)

Indonesia’s top 10 exports totaled 61.9% of Indonesia’s total exports.

 

[BananaRepublicUK]

Indonesia also has big indigenous electronic industry with its own brand, you can check this as example

1. Trajectory of Indonesia’s Electronics Industry

The trajectory of Indonesia’s electronics industry can be traced back to the 1950s with the founding of PT Transistor Radio Manufacturing Company (now known as PT National Panasonic Gobel Indonesia), the first domestic producer of transistor radios.

The early 1960s became a new beginning for the country’s electronics industry with the first production of black-and-white televisions. At that time, most electronic products in Indonesia were imported.

In the early 1970s Indonesia began the import substitution agenda, applying tariff and non-tariff barriers to restrict the imports of radios and televisions as finished goods. Rather than operating on their own, foreign electronics companies were encouraged to invest in the country through joint ventures and technical cooperation with domestic firms to supply domestic demand.

https://electronicswatch.org/region...-industry-indonesia-december-2018_2554862.pdf


---------------------------------------------------------------------------

History of Panasonic Gobel Indonesia

1954
With the spirit of nationalism to produce communication tools for the Indonesian people, in 1954 Drs. Haji Thayeb Mohamad Gobel founded PT Transistor Radio Manufacturing in Cawang, Jakarta which was the pioneer of the first Radio Transistor Factory in Indonesia with the brand "Tjawang".

1957
Drs. H. Thayeb Moh. Gobel received a Colombo Plan scholarship where he continued his studies in Japan and met with Mr. Gobel. Konosuke Matsushita, founder of Masushita Electric Industrial Co.Ltd.

1960
The signing of the Technical Cooperation Agreement between PT Transistor Radio Manufacturing and Matsushita Electric Industrial Co. Ltd., (Japan).

1962
Based on the cooperation agreement, PT Transistor Radio Manufacturing produces the first colorless television so that Indonesians can watch the Asian Games (Jakarta)

The first product was given to the First Lady of Indonesia, Mrs. Fatmawati Soekarno.

1970
Inauguration of PT Panasonic Manufacturing Indonesia (PT National Gobel)

1974
Inauguration of PT Met Gobel, a local factory that supports trading activities and imported products from Matsushita to Indonesia that are not produced by PT National Gobel. PT Met Gobel imports both electronic products for consumer needs and electronic products for work needs, such as broadcasting equipment and capital equipment for factories.

Sejarah Perusahaan - Profil Perusahaan - Tentang Kami - Panasonic Gobel Indonesia

Panasonic memulai perjalanannya dari keinginan untuk menciptakan hal-hal yang bernilai.

www.panasonic.com

View attachment 843699

The following export product groups represent the highest dollar value in Indonesian global shipments during 2020. Also shown is the percentage share each export category represents in terms of overall exports from Indonesia.

1. Mineral fuels including oil: US$25.6 billion (15.7% of total exports)
2. Animal/vegetable fats, oils, waxes: $20.7 billion (12.7%)
3. Iron, steel: $10.8 billion (6.6%)
4. Electrical machinery, equipment: $9.2 billion (5.7%)
5. Gems, precious metals: $8.2 billion (5%)
6. Vehicles: $6.6 billion (4%)
7. Rubber, rubber articles: $5.6 billion (3.4%)
8. Machinery including computers: $5.2 billion (3.2%)
9. Footwear: $4.8 billion (2.9%)
10. Paper, paper items: $4.2 billion (2.6%)

Indonesia’s top 10 exports totaled 61.9% of Indonesia’s total exports.

So why afraid of FTA?

 

[Indos]

So why afraid of FTA?

Who is afraid of FTA ? Indonesia ( and ASEAN ) has already had FTA with China since 2009