Cuba Interested in Strengthening Bilateral Trade with Bangladesh

The board of the Chittagong Chamber of Commerce and Industry (CCCI) resigned on September 2, 2024, following calls from some business groups for its dissolution and new elections. The 24-member board, including its former president, was elected on August 6, 2023, and assumed office on September 7, 2023. The outgoing board has formally requested the Ministry of Commerce to appoint an administrator to manage the chamber's affairs until a new board is elected.

The Bangladesh government may not promote the use of Indian ports for rerouting business activities, as a local deep-sea port is being developed and there are no clear benefits currently demonstrated for such rerouting. Following a secretary-level meeting between India and Bangladesh in Dhaka, the delegation visited Indian ports and requested a report detailing the potential benefits for Bangladesh if it agreed to the proposal. However, according to the joint secretary, no response has been received yet.

Vietnamese Ambassador to Bangladesh "Nguyen Manh Cuong" emphasized the growing friendship between Vietnam and Bangladesh and called for further exploration of untapped potential in their bilateral relations. He expressed Vietnam's deep appreciation for Bangladesh's longstanding support and highlighted the strong ties between the two nations over the past 51 years. Both countries share common goals in national development and have continued to strengthen cooperation in various sectors, including rail transport, labor protection, and social security. The ambassador also noted the frequent exchange of delegations at ministerial levels, which reflects the deepening partnership.

The UAE is a key trade partner for Bangladesh, facilitating exports to East Africa through its ports. Professor Yunus invited the UAE President to visit Bangladesh at his convenience. During a phone call, the UAE President congratulated Yunus on becoming Chief Adviser of Bangladesh’s Interim Government and expressed optimism for Bangladesh's prosperity under his leadership. Yunus appreciated the President’s greetings and praised his leadership for transforming the UAE into a prosperous nation.

A recent Bangladesh Bank (BB) report suggests that Bangladesh should focus on expanding export markets before fully embracing local-currency settlements in external trade. The study, "Trading in Local Currencies: Problems and Prospects for the SAARC Countries," led by BB's Executive Director (Research), notes that despite the initiation of trade settlements in Indian rupees (INR) in mid-2023, this approach has not yet gained significant traction.

The ongoing floods have severely disrupted the Dhaka-Chattogram highway, halting trade between the capital and the port city for four days.  This has nearly collapsed the supply chain for essential commodities from Khatunganj, trading has dropped by at least 70%, preventing staples like rice, onions, oil, and lentils from reaching various districts. The crisis has worsened the already strained operations at Chattogram Port, which is grappling with import-export delays due to recent political unrest.