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Books on Bangladesh
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Update No: 002 - (27/02/06)
Politics
The Law, Justice and Parliamentary Affairs Ministry forwarded the draft of
the Consumers Rights Protection Act to the Ministry of Commerce for placing
before the cabinet for its final approval. The Law Ministry has accepted the
draft prepared by the Committee of the Secretaries. The Ministry of Commerce
initiated the act for protecting the rights of the consumers. The draft act of
the bill contains provision for formation of a National Consumers Council,
Consumers' Arbitration Committee and punishment for offences. The draft also
included provisions for establishing district and metropolitan arbitration
committees and consumers' tribunals. The Cabinet took the decision to enact the
Consumers Rights Protection Act at a meeting on August 9, 2004 and asked the
Committee of the Secretaries to prepare a draft of Consumers Rights Protection
Act to protect the consumers' rights in the country. The draft provides for
establishing a Directorate of Consumers Affairs (BCA). The Consumers Association
of Bangladesh (CAB) has been urging the government to enact a law for the last
fifteen years to protect the rights of consumers. Borhan Ahmed, President of the
CAB said that the passing of the Consumers Rights Protection Act in the
parliament will fulfill that act soon.
Bangladesh's Relations with Russia
According to the Bangladesh Ministry of Foreign Affairs Report, Foreign
Secretary Mr. Hemayetuddin visited Moscow at the end of January for bilateral
consultations with the Foreign Ministry of the Russian Federation. The Russian
Foreign Minister expressed hopes that friendly ties between both countries would
be forged and emphasized that Russia valued the close political dialogue and
cooperation with Bangladesh on bilateral and other international issues. He
further add that the existing levels of cooperation could be strengthened by
increased contacts in different domains, i.e,, issue areas. Mr. Lavrov also
expressed his desire to meet with Foreign Minister Morshed Khan in the near
future. The Foreign Secretary also handed over a letter addressed to President
Vladimir Putin from Prime Minister Begum Khaleda Zia inviting him to visit
Bangladesh and conveying her desire to further strengthen and deepen Bangladesh-
Russia relations. He mentioned that the present relations between Bangladesh and
Russian Federation were based on very strong foundations dating back to a rich
historical legacy between both countries. Foreign Secretary Mr. Hemayetuddin
recalled the crucial role that Russia played in support of Bangladesh's
Liberation War in 1971. He also briefed the Russian Foreign Minister about
different development programs undertaken by the present government of Prime
Minister Begum Khaleda Zia and its achievements in different sectors. The
Foreign Secretary said that Bangladesh would welcome Russia's support,
assistance and cooperation in the energy sector and power generation and other
areas.
Chinese imports overtake those from India
Bangladesh's imports from China have exceeded the country's purchases from
neighboring India for the first time in the July-September period last year.
Imports from China stand at approximately 32.14 billion taka ($476.5 million),
surpassing 27.08 billion taka in imports from India during the first quarter of
Bangladesh's fiscal year. Mir Nasir Hossain, President of the Federation of
Bangladesh Chambers of Commerce and Industry told Reuters that "China has
become very competitive both in terms of price and quality. They are invading
globally and we can't keep them off in this age of free market economy."
The main imports from China comprise textiles, machinery and chemical products.
Mr Mohammed, head of the Export Promotion Bureau also stated that Bangladesh has
stepped up its efforts to increase its exports to China in order to be a strong
competitor in the world economy. China granted duty-free access to 84
Bangladeshi goods under the Asia Pacific Trade Agreement, which was implemented
on January 1, 2006.
Bangladesh's economy is expected to grow by 6.5 percent in this financial year,
powered by better-than-expected exports and money sent home by workers abroad,
the Asian Development Bank forecast Monday. Bangladesh's gross domestic product
is seen expanding by 6.5 percent for the fiscal year to June, up from 5.6
percent the preceding year, the Manila-based bank said in its quarterly economic
update. According to the bank, adverse effects of higher oil prices on balance
of payments have been partly moderated by rapid growth in workers' remittances
and better-than-expected export growth.
Despite extreme poverty, the South Asian nation of 140 million people has been
one of the world's fastest-growing economies. It has logged an average of over
five percent growth since the early 1990s. Readymade garments, which comprise
three-quarters of Bangladesh's exports, posted double-digit growth in 2005,
defying forecasts that abolition of global textile quotas at the start of last
year would badly damage the sector. Garment exports surged 11 percent to 6.89
billion dollars in calendar 2005, according to data from the Bangladesh's Export
Promotion Bureau. Worker remittances jumped 20 percent to a record 4.1 billion
dollars in calendar 2005, the country's central bank said. Nearly four million
Bangladeshis work abroad, according to government figures, but unofficial
estimates put the number at almost double.
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