Comments /462 Views / Wednesday, 28 March 2012 01:04
DHAKA(Reuters): Bangladesh’s trade deficit with other South Asian countries widened to about $2.4 billion during the first half of the current fiscal year ending in June, a senior official of the central bank said on Tuesday.
During the period, Bangladesh imported goods worth about $2.70 billion from members of the South Asian Association for Regional Cooperation (SAARC) while its exports to those countries totalled nearly $315 million, the official said.
SAARC groups Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
SAARC countries accounted for about 20 percent of Bangladesh’s overall overseas annual trade.
Annisul Huq, president of SAARC Chamber of Commerce and Industry, said that the exports of Bangladesh to the SAARC counties were comparatively low as Nepal and Bhutan enjoy duty-free access to the Indian market, while Sri Lanka enjoys free trade facilities with India.
Bangladesh had an overall trade deficit of $4.7 billion with SAARC countries in the previous fiscal year of 2010-11, 47.1 percent higher than in fiscal 2009-10, the central bank said.
“India and Pakistan could be our major trade partners in the region, but both the countries are also our principal competitors in the overseas market,” Huq told Reuters.
Bangladesh has the biggest trade gap with India among the SAARC countries, with an annual deficit of more than $3.0 billion, officials with the commerce ministry said.
The ready-made garment is Bangladesh’s largest export earner, which also depends on India and Pakistan for yarn and fabric.
25 March 2017
Yesterday’s FT article on the CSE road show in Melbourne, appealing to expat Sri Lankans, triggered this. Emotional pleas and guilt appeals may be good enough to generate some charity or philanthropy (and do not confuse it w...
24 March 2017
IT and Commerce Minister of Telangana State Minister Rama Rao speaking at the Sri Lanka Human Capital Summit in Colombo said that the Telangana Academy for Skill and Knowledge created a platform between Government, academia and industry t...
24 March 2017
Big match season lays bare the tribalism and sexism in our society Big match season brings out the best in us and also the worst, I think. The camaraderie and the loyalty of the old boys and the enthu...
24 March 2017
I don’t often quote the United Nations (UN). Not because they don’t say sensible stuff. But because their sound bites are not as memorable as that which their opposition – rogue states, global terrorists – says. Because the...
Niroshan on Govt.’s growth, transparency and visionary policies at CSE Sydney forum
Sri Lankan insurance industry yet to realise full potential
Women entrepreneurs empowered by Coca-Cola prove they are ‘Bold for Change’
Celebrating International Women’s Day at Shangri-La’s Hambantota Resort and Spa