Export earnings to cross $80B by 2024, hopes Tipu

[UKBengali]

Every country acts according to its own interest.

We don’t need a magnanimous India.

We just need an India that is driven by economic interest rather than xenophobic hatred.

Imagine the mutual economic benefit with Burma - if that country was driven by economic interest.

No other country in the world provides the potential market for our goods or cheap source of raw materials and food - THAN INDIA.

Hinduvta extremists make it hard to see that fact - BUT IT IS FACT.

It's ok but others here are well-intentioned but they are unable to see the big picture and see the great strategic game that Hasina is playing here.

Yes Indians are cheats and they are not always well-intentioned but the only thing that matters is if BD benefits in the end as well.

 

[Bengal71]

I think he should have said like 2030, being a good sychofant he couldn't possibly do that !

2030 is 8 years away. This year alone it's going to be around 60B. 2024 maybe too early but won't take up to 2030. 2026 maybe realistic.

There is no "control" for India over BD as long as it is not in anything strategic or there is not too much of anything.
i.e say 3-4GW out of 40GW from India and through India(Nepal and Bhutan) will not allow India to exert too much power over BD.

Also, no-one was saying that BD will be able to control India but influence it. There is a difference.

My posts recognise the crucial deal that has been struck between India and BD in terms of allowing both countries to prosper and that is something I welcome.

There is no path to prosperity and strategic independence for BD without good relations with India. BD in effect is using India to counterbalance the USA and China and them with India itself.

I kind of agree with the bold part. Still doubtful any FTA with India will be beneficial for us.

 

[BananaRepublicUK]

2030 is 8 years away. This year alone it's going to be around 60B. 2024 maybe too early but won't take up to 2030. 2026 maybe realistic.



I kind of agree with the bold part. Still doubtful any FTA with India will be beneficial for us.

It all depends how quickly those EPZs are fully productive.

Particularly the Chinese and Japanese ones.

 

[Bengal71]

It all depends how quickly those EPZs are fully productive.

Particularly the Chinese and Japanese ones.

UKBengali has his perspective and his argument has merit. However I think if FTA is signed Indian products can come into BD and make some of our own flourishing industries uncompetitive and they may never flourish. That's my only worry.

 

[Homo Sapiens]

Those "intellectuals" here from both BD and Pakistan who say that these deals are evidence of BD being an Indian "slave" never could see the big picture here.

By giving the biggest Indian business moguls a stake in BD economy like this, then BD has very powerful allies in India with greater shooting power with the Indian government than low-live BJP politicians who mouth off against BD from time to time.

Also the other benefit is that this reduces pollution than building the plant within BD itself - win-win.

I agree with this point, but I still don't like becoming dependent on India for our electricity. It would have been better if we invited Adani into Bangladesh with lucrative business deals if we really needed to give the 'biggest business mogul of India' a stake in our economy but kept control of our electricity supply on our hands.

 

[BananaRepublicUK]

UKBengali has his perspective and his argument has merit. However I think if FTA is signed Indian products can come into BD and make some of our own flourishing industries uncompetitive and they may never flourish. That's my only worry.

Indian companies aren’t competitive which is why Indians always shy away from FTAs.

Furthermore, thanks to chetona brigade Indians already have free access.

More likely, it will fast track Chinese and japs to build factories for the Indian market.

We could be flooding India with cheap Chinese toys and shoes.

In return India will corner our tiny auto market - currently monopolised by Japanese second hand cars.

I agree with this point, but I still don't like becoming dependent on India for our electricity. It would have been better if we invited Adani into Bangladesh with lucrative business deals if we really needed to give the 'biggest business mogul of India' a stake in our economy but keep control of our electricity supply on our hands.

Importing 20% of our electricity from India is better than buying gas from ME to power our own power stations.

20% share can easily be offset by load shedding domestic users - if India ever turns the tap off.

We need more electricity to power charging stations for the electric three wheelers that are replacing the rickshaws.

Ditto for electrification of the rail network.

 

[Bilal9]

Indian companies aren’t competitive which is why Indians always shy away from FTAs.

Furthermore, thanks to chetona brigade Indians already have free access.

More likely, it will fast track Chinese and japs to build factories for the Indian market.

We could be flooding India with cheap Chinese toys and shoes.

In return India will corner our tiny auto market - currently monopolised by Japanese second hand cars.

I am sorry to remind you that doing business and profiting from Sanghis may be an "impossible pipe dream".

These people are the most penny-pinching kanjoos people that you will ever meet. You cannot win.

NOT going into business with them is the only option.

 

[BananaRepublicUK]

I am sorry to remind you that doing business and profiting from Sanghis may be an "impossible pipe dream".

These people are the most penny-pinching kanjoos people that you will ever meet. You cannot win.

NOT going into business with them is the only option.

We have saturated the US and EU markets. Both also constantly interfere as quid pro!!!

We need new markets.

Our Chinese exports seem stuck at 1 billion. Whereas exports to India is growing fast.

We could have great synergy with Indonesia (sell garments and buy auto, locos and raw materials) and Turkey (sell garments and appliances and buy defence gear).

But both our Muslim brother countries are too short sighted. They will not open their markets to us!!!!

Our exports to India will hit 5 billion by 2025. Tell me who can replace that???

 

[Mahmood-ur-Rehman]

Export earnings to cross $80B by 2024, hopes Tipu

ECONOMY​

BSS
06 June, 2022, 06:35 pm
Last modified: 06 June, 2022, 08:35 pm

Export earnings to cross $80B by 2024, hopes Tipu

Commerce Minister Tipu Munshi today hoped that the country's export earnings would cross $80 billion by 2024. "We've earlier set an export earnings target of $51 billion in this fiscal year (FY22). Now, we're hoping that this figure would reach $60 billion in this year.

www.tbsnews.net

Commerce Minister Tipu Munshi today hoped that the country's export earnings would cross $80 billion by 2024.

"We've earlier set an export earnings target of $51 billion in this fiscal year (FY22). Now, we're hoping that this figure would reach $60 billion in this year. I'm hopeful that the export earnings would cross $80 billion by 2024," he said.

The Commerce Minister said this while inaugurating 50 types of online services by the Office of the Chief Controller of Imports and Exports as the chief guest, marking 50 years of the country's independence, held at the Shaheed Sheikh Kamal auditorium at NSC Tower in the capital.

Presided over by Senior Secretary of the Ministry of Commerce Tapan Kanti Ghosh, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md Jashim Uddin, Bangladesh Competition Commission Chairperson Md Mofizul Islam and Chief Controller Office of the Chief Controller of Imports and Exports Sheikh Rafiqul Islam, among others, also spoke on the occasion.

Alleging that a vested quarter has been making negative criticisms over the country's development march, Tipu said that the situation is being changed every now and then while the country is moving towards development.

"The big example of this is that the Office of the Chief Controller of Imports and Exports is now providing cent percent digital services. Some 52 services including that of license are being available through online," he said adding that no one would require coming to this office in future to receive services.

Citing the findings of a recent survey conducted by JETRO, the commerce minister informed that some 88% Japanese businesses now want to do business in Bangladesh while this has been possible since the country has been changed. He informed that Japan also wants to strike a Free Trade Agreement (FTA) with Bangladesh.

Directing the officials and employees of the Office of the Chief Controller of Imports and Exports to render instant services digitally with utmost honesty, Tipu said, "We're now moving towards building smart Bangladesh. We'll have to make all necessary arrangements so that people need not to come to office for taking services."

Referring to the inauguration of Padma Bridge on 25 June, the Commerce Minister said that Prime Minister Sheikh Hasina had earlier taken the challenge of building this mega structure with own financing. Through the inauguration, the courage and strength of Bangladesh will be projected afresh, he added.

The senior secretary of the Commerce Ministry said that from now on no services would be provided offline from the Office of the Chief Controller of Imports and Exports as businessmen would be able to avail all services online.

Sheikh Rafikul Islam, chief controller of the Office of the Chief Controller of Imports and Exports, said that businessmen are now getting all related services including certificates of imports and exports online from this office.

"In such case, there is no need to submit hard copy by the service seeker. A service seeker will need to file an Online Licensing Module (OLM) account against his or her organisation and thus, would be able to avail desired services through that account. No third party will be able to interfere in the process."

We will successful reduce our export earning to again 18 billion in 2024 after regime change

 

[Homo Sapiens]

I am sorry to remind you that doing business and profiting from Sanghis may be an "impossible pipe dream".

These people are the most penny-pinching kanjoos people that you will ever meet. You cannot win.

NOT going into business with them is the only option.

We can do business but we need to become skillful. Like they are venomous snakes, we also have to become master snake charmers. Last year, our businessmen showed how to deal with these baniyas. Giving excuse of COVID-19, West Bengal govt. halted our export laden trucks at the Benapole border, our businessmen tried at first by pleading, but no avail. Then they gone for the extreme decision of halting Indian trucks from entering into Bangladesh until Bangladeshi trucks are also allowed to enter into India. It did a magic. As you know how much West Bengal depends on Bangladesh trade. Ban was lifted soon, Indian businessmen themselves created pressure on their govt. to allow Bangladeshi trucks! This type of hard negotiation skill with powerplay will only work with these baniyas.

 

[BananaRepublicUK]

We can do business but we need to become skillful. Like they are venomous snakes, we also have to become master snake charmers. Last year, our businessmen showed how to deal with these banyas. Giving excuse of COVID-19, West Bengal govt. halted our export laden trucks at the Benapole border, our businessmen tried at first by pleading, but no avail. Then they gone for the extreme decision of halting Indian trucks from entering into Bangladesh until Bangladeshi trucks are also allowed to enter into India. It did a magic. As you know how much West Bengal depends on Bangladesh trade. Ban was lifted soon, Indian businessmen themselves created pressure on their govt. to allow Bangladeshi trucks! This type of hard negotiation skill with powerplay will only work with these banyas.

Given our dependence on India for raw materials - from gravel to onions - they will always have the upper hand.

Until the Burmese come out of their xenophobic hatred - India will have a monopoly.

Given the card we have been dealt - we are doing a masterful job.

Let’s keep our head down and grow.

Leave the chest thumping to others.

We need to transition to English medium schools. Probably by importing loads of Indian Muslim teachers! Because our own teachers are completely useless!!!

 

[UKBengali]

I agree with this point, but I still don't like becoming dependent on India for our electricity. It would have been better if we invited Adani into Bangladesh with lucrative business deals if we really needed to give the 'biggest business mogul of India' a stake in our economy but kept control of our electricity supply on our hands.

10-20% of BD electricity supply coming from/through India is no big deal.

It cannot cripple BD industry or economy in the event of blockade from India. Also Indians would annoy Nepal/Bhutan by stopping their exports of electricity to BD.

 

[UKBengali]

@BananaRepublicUK


Unfortunately most BD posters are unable to see the current power balance between BD and India.
It is not like 10 years ago when India thought that BD was a “little country” it could dominate.
Their thinking is stuck in the last and not the present and potential future.

India has now realised that BD is an equal to it and wants mutually beneficial relations with it in the economic sphere at least.

The other thing is most people are unable to see the big picture and are looking at things in isolation without being able to connect the dots.

Hasina has played a blinder with the hand that she was given and BD should benefit more than India from any free trade deal.

India will have low hundreds of millions of people that could afford to buy products from the likes of Walton this decade. Massive market for BD companies to sell to in the medium tech sector.

The relationship between BD and India could be one of the most important changes in world geopolitics over the next 2-3 decades. Let us hope it works out for both countries mutual benefits.

 

[BananaRepublicUK]

@BananaRepublicUK


Unfortunately most BD posters are unable to see the current power balance between BD and India.
It is not like 10 years ago when India thought that BD was a “little country” it could dominate.
Their thinking is stuck in the last and not the present and potential future.

India has now realised that BD is an equal to it and wants mutually beneficial relations with it in the economic sphere at least.

The other thing is most people are unable to see the big picture and are looking at things in isolation without being able to connect the dots.

Hasina has played a blinder with the hand that she was given and BD should benefit more than India from any free trade deal.

India will have low hundreds of millions of people that could afford to buy products from the likes of Walton this decade. Massive market for BD companies to sell to in the medium tech sector.

The relationship between BD and India could be one of the most important changes in world geopolitics over the next 2-3 decades. Let us hope it works out for both countries mutual benefits.

No other country provides a better synergy than India for an economic relationship.

India will easily be our third largest trading partner after US and EU.

The hawks need to provide an alternative other than magic thinking like high end manufacturing.

99% of our population cannot speak English fluently after Zia and Ershad built Madrasas instead of English medium schools!!!

Before we can dream of high end manufacturing we need to stop dreaming of deflowering a thousand virgins in paradise.

Instead embrace western education.

 

[Homo Sapiens]

Given our dependence on India for raw materials - from gravel to onions - they will always have the upper hand.

Until the Burmese come out of their xenophobic hatred - India will have a monopoly.

Given the card we have been dealt - we are doing a masterful job.

Let’s keep our head down and grow.

Leave the chest thumping to others.

We need to transition to English medium schools. Probably by importing loads of Indian Muslim teachers! Because our own teachers are completely useless!!!

India will not have the upper hand unless we give them. We have a misconception that, Bangladesh is heavily dependent on India for it's raw materials need. This is not true. Our raw materials come from diversified sources and we can replace India with other countries or increase our domestic production to replace Indian imports if needed. Just a few years ago, 60 percent of our cotton import came from India, but in recently Bangladesh drastically reduce this dependency and sourcing cotton from Africa,Central Asia and US. Now just one-quarter of our cotton needs come from India. This is a very crucial raw materials for our export. This happened because India suddenly halted supply of onion creating a crisis. Onion crisis was a wake up call for the govt. and it prudently decided to reduce India dependeny for our cotton need.

Bangladesh now depends less on India for cotton​

Bangladesh now depends less on India for cotton

African nations have surpassed India to become the largest source of cotton for Bangladesh as local spinners and millers look to cut down their dependence on a single source for their vital raw material.

www.thedailystar.net

Our Onion acreage also increased dramatically and now we are not as dependent on India before the onion crisis as govt. decided to achieve self-sufficiency on onion.

Few years ago, after Hindutva BJP came to power in India, the halted cattle smuggling to Bangladesh by 99 percent. Then Indian home minister Rajnath Singh even boasted that, because of this decision, Bangladeshi Muslims will abandon beef eating. But it turned out to be a blessing in disguise for us. Our cattle farming flourished to meet the local demand. Now we don't need Indian cows even during Eid-ul-Adha. To meet this demand domestic feed production also have grown rapidly. Our maize production went from negligible amount to now 6 million Ton in just 5-6 years and it will reach 10 million ton in the next few years. Now we are 60 percent self-sufficient in animal feed production. Nothing of these achievements would have happened if India had not halted cow smuggling.

We are importing coal from Indonesia, Australia, getting wheat from Russia and Ukraine(except this year), getting oil from Middle East, getting cooking oil from Malaysia, Indonesia. We are largely self sufficient in Rice and most of the other vital food items like fish,poultry, red meat, eggs, vegetables, fruits etc. So, I do not see any dependency on India for our any vital needs. Whatever we trade with India can be easily replaced by trading with China, ASEAN and other countries. Out of our 90 billion Dollar import, India provides hardly 10 billion and half of it is actually finished products like automobiles, chemicals, electrical equipment, electricity etc, not raw materials.