The United States has briefed Bangladesh on the Indo-Pacific Economic Framework (IPEF) and Bangladesh welcomed additional information on the supply chain resilience and decarbonization pillars of the IPEF.
Bangladesh also sought U.S. technical assistance to sustainably explore its ocean resources and further develop its blue economy in pursuit of environmental protection and economic prosperity.
The issues came up for discussion at the second Bangladesh-US high-level economic consultation held in Washington, DC on Thursday.
Adviser for Private Industry and Investment to the Prime Minister Salman F. Rahman and US Under Secretary of State for Economic Growth, Energy, and the Environment Jose W. Fernandez co-chaired the discussion.
US President Joe Biden launched the IPEF with a dozen initial partners: Australia, Brunei, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. Together, they represent 40% of world GDP.
Earlier on Wednesday, US Ambassador to Bangladesh Peter Haas said there will be opportunities for other countries to join in the recently launched IPEF.
There have been consultations with the Ministry of Foreign Affairs in March regarding the IPEF and the ambassador hoped that Bangladesh will follow it closely.
Finance Minister AHM Mustafa Kamal on Wednesday said upcoming national budget for 2022-23 will focus on economic recovery from uncertainties due to Covid-19 impact and Russia-Ukraine war.
“We’ll try to bring dynamism in the economy,” he told reporters while briefing about the outcomes of the Cabinet Committee on Government Purchase (CCGP).
He said that after the Covid-19 pandemic when the economy was trying to recover from the shock, the Russia-Ukraine war started which created huge vulnerabilities and uncertainties globally.
The National Budget for FY2022-23 is slated to be placed in Parliament on June 9.
Kamal said that after the Covid-19 pandemic when the economy was trying to recover from the shock, the Russia-Ukraine war started which created huge vulnerabilities and uncertainties globally.
“Every country in the world has to face the challenges of the vulnerabilities and they are under pressure”, he said adding that these uncertainties and vulnerabilities will create opportunities as well.
He, however, refused to disclose the main thrusts of the national budget. “Just wait...You will see when the budget is placed in Parliament”.
He hinted that strengthening the social safety-net programme will get a special focus in the upcoming budget.
Women and E-Commerce Trust (WE) leaders demanded to reduce the corporate income tax by 10 percentage points to 20 per cent for businesses owned by women.
Women entrepreneurs on Wednesday also urged the government to set the tax-free income limit for them at Tk 5 lakh.
The female entrepreneurs placed their demand at a roundtable organised by the Ekattor TV Dhaka Reporters’ Unity and the Women and E-Commerce Trust (WE), a platform of women entrepreneurs.
Women entrepreneurs are currently contributing a lot to the economy of Bangladesh, said Nasima Akter Nisha, president of WE.
So, women should get priority in the budget allocations, she said.
There should be allocation in the budget to take up programmes to stop child marriage, said Sayema Haque Bidisha, economics professor of the Dhaka University.
“We are also finding ways on how we can change the negative mindset about working women.”
She proposed continuation of the gender budget.
However, the professor said it should be assessed and evaluated properly to see whether the gender budget allocation is bringing any positive change to the society.
The participants of the discussion also proposed cutting the turnover tax for women-led businesses.
The 29th Chattogram International Trade Fair (CITF)-2022 begins on Tuesday after a two-year shutdown due to the Coronavirus pandemic.
Commerce Minister Tipu Munshi inaugurates the fair, organised by the Chittagong Chamber of Commerce and Industry (CCCI), on Railway Pologround in the port city.
The fair showcase the products of small and medium entrepreneurs from different parts of the country, while the big companies of the country will display their products in different pavilions to promote their products.
The CCCI sources said a modern Bangabandhu pavilion has being set up at the fair which displayed various books and publications on Bangabandhu’s autobiography and Liberation War with the help of Batighor.
About 370 stalls, including 17 premier pavilions, 33 premier stalls, 99 gold stalls, 48 mega stalls, 14 food stalls from both home and abroad displayed their products at the four lakh square feet fair.
The fair will remain open from 10:00am to 10:00pm every day.