Doing Business in Bangladesh

The objectives of the subject “International Trade and Business in Bangladesh” are the following:

1. To analyze the Bangladeshi Economy and Foreign Trade;
2. To know the business opportunities in Bangladesh;
3. To explore the Bangladeshi trade relations with the country of the student;
4. To know the Bangladeshi Trade Agreements;
5. To examine the profile of Bangladeshi businesspeople and companies;
6. To develop a business plan for the Bangladeshi market.

The Subject “Foreign Trade and Business in Bangladesh” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Masters (MIB): International Business, Foreign Trade.

Doctorate (DIB): Islamic Business, Asian Business, World Trade.

Learning materials in or Bangladesh Bangladesh.

1. Credits of the subject “Foreign Trade and Business in Bangladesh”: 2 ;
2. Duration: two weeks.

1. Bangladesh-China-India-Myanmar Economic Corridor;
2. Access to the Islamabad-Tehran-Istanbul Rail and Road Corridor (ITI-ECO).

Preferential Access and Free Trade Agreements of Bangladesh

1. Bangladesh and the Central Eurasian Economic Area;
2. Free Trade Agreements with Pakistan, Sri Lanka, India, Bhutan, Nepal;
3. Asia-Pacific Trade Agreement (APTA);
4. South Asian Free-Trade Area (SAARC);
5. Bay of Bengal Initiative (BIMSTEC);
6. Asian Clearing Union (ACU);
7. South Asia Subregional Economic Cooperation (SASEC);
8. Indian-Ocean Rim Association (IORA);
9. Trade Preferential System of the Organization of Islamic Cooperation (TPS-OIC);
10. Islamic Centre for Development of Trade (ICDT);
11. Global System of Trade Preferences among Developing Countries (GSTP);
12. Generalized System of Preferences (GSP);
13. Protocol Relating to Trade Negotiations Among Developing Countries (PTN).

1. World Trade Organization (WTO)
   1. WTO General Agreement on Trade in Services (GATS);
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS);
   3. WTO Agreement on Technical Barriers to Trade (TBT);
   4. WTO Agreement on Preshipment Inspection (PSI);
   5. WTO Agreement on Safeguards (SG);
   6. WTO Trade Facilitation Agreement (TFA).
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).
3. International Bureau of Containers and Intermodal Transport (BIC);
4. International Civil Aviation Organization (ICAO, Chicago Convention);
5. International Maritime Organization (IMO).

Islamic Organizations:

1. Islamic Development Bank (IsDB);
2. Organization of Islamic Cooperation (OIC)
   1. Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC);
   2. Islamic Chamber of Commerce and Industry (ICCI);
   3. Islamic Centre for Development of Trade (ICDT);
   4. Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC).
   Asia-Middle East Dialogue (AMED).

Asian Trade and Economic Organizations:

1. Boao Forum for Asia;
2. Asia Cooperation Dialogue (ACD);
3. Economic and Social Commission for Asia and the Pacific (ESCAP);
4. Asian Development Bank (ADB);
5. Colombo Plan;
6. Africa-Asia Strategic Partnership.

Global Organizations:

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. World Intellectual Property Organization (WIPO).
2. World Bank (WB);
3. World Trade Organization (WTO);
4. International Monetary Fund (IMF).

The People's Republic of Bangladesh.

1. Bangladesh is one of the most densely populated countries in the World (167 million);
2. Borders of Bangladesh: India and Myanmar;
3. 98% of the population speak Bangla language (official language);
4. The capital of Bangladesh is Dhaka (7 million inhabitants);
5. Area of Bangladesh: 147,570 square kilometers;
6. Government type: Bangladesh is a Parliamentary Republic;
7. Independence of Bangladesh from Pakistan in 1971 (previously it was part of India).

Main religion in Bangladesh: Islam.

1. Islam is the largest religion in Bangladesh; the Muslim population is about 149 million people (90% of the total population), the fourth-largest Muslim population in the World (after Indonesia, Pakistan, and India);
2. Bangladesh is a country with a Sunni Muslim majority, mainly follow the Hanafi school of jurisprudence;
3. Hindus (15 million, 9% of the population);
4. Christians (1 million).

Bangladesh belongs to the Central Eurasian Economic Area (Islamic Civilization).

Economy of Bangladesh.

Bangladesh (Asia) is advantageously situated near to India, China, and the Association of Southeast Asian Nations (ASEAN) markets.

1. The efficiency of the industrial sector in Bangladesh was principally based on the growth in textile and wearing apparel, petroleum products, drugs and pharmaceuticals, fertilizer, footwear, glass products, cement, electronics, and food and beverage industries;
2. The Services sector is the largest contributor to the real gross domestic product of Bangladesh;
3. Agriculture in Bangladesh still holds an important position in their economy;
4. The Annual market size for information technology (computer hardware, peripherals, and software): 25 million dollars;
5. Currency of Bangladesh: Taka (BDT);
6. Bangladeshi GDP (nominal): 118.7 billion dollars;
   1. Agriculture: 17.3% of the GDP;
   2. Industry: 28.6%;
   3. Services: 54.1%.
7. Bangladeshi GDP per capita: 2,000 USD.

Desh Garments was the first export-oriented ready-made garment industry in Bangladesh. It was set-up in a joint venture with Daewoo (South Korea). Desh was the single largest and the most modern garment manufacturing unit in the sub-continent.

Walton HIL is the pioneer of Refrigerator, Freezer, Air Conditioner and Motorcycle Manufacturing Technology in Bangladesh.

International Trade of Bangladesh.

1. Textiles and clothing industry is the largest export segment of Bangladesh. Their factories design and produce for leading brands and retailers - distributors in the World;
2. Main exports of Bangladesh are ready-made garments, frozen foods (shrimps), leather, leather products, jute, jute products, tea, ceramic, textile fabrics, home textile, chemical product, light engineering products (bicycle);
3. The largest trade partners of Bangladesh are Bhutan, Maldives, Nepal, Pakistan, and Sri Lanka;
4. Total imports of Bangladesh: 24 billion dollars;
5. Total foreign direct investment (FDI): 0.70 billion dollars;
6. Export Processing Zones are export-oriented industrial areas, which supply: infrastructures, facilities, administrative and assistance services;
7. Established under the Investment Board Act 1989, the Board of Investment is the leading private investment promotion and Trade Facilitation agency of Bangladesh.

Bangladeshi Free Trade Agreements.

As the South Asian Free-Trade Area (SAFTA) comes into force, the foreign investors in Bangladesh will benefit from duty-free access to the Indian market and other SAFTA member countries (Afghanistan, Bhutan, Maldives, Nepal, Pakistan, and Sri Lanka).

Bangladesh started bilaterally negotiations to form Free Trade Agreements with India, Pakistan, and Sri Lanka and recently, a trade and investment framework agreement with the United States is also under active consideration. Bangladesh is a beneficiary of the European Union Generalized System of Preferences (GSP).

(c) EENI Global Business School (1995-2023)
We do not use cookies
Top of this page