Bangladesh Fair in Rangoon
Dhaka, 18 Feb. 03: A five-day long Bangladesh Fair is scheduled
to open on 20 March in Rangoon, according to a Dhaka news agency.
The fair, second from Bangladesh, is expected to project the export
potentials of Bangladesh.
The first trade fair held last March helped participant companies from Bangladesh receive export orders to the tune
of 7 million US dollars.
The fair will also feature the signing of three bilateral trade promotion
agreements – including account trade and coastal shipping arrangement, and an
agreement on joint business council.
Chairman of Bangladesh-Myanmar Business Promotion Council, R Maksud Khan
expected Prime Minister Begum Khaleda Zia to inaugurate the fair.
Commerce Minister Amir Khosru Mahmud Chowdhury yesterday reviewed the
preparations for the show at a meeting with Export Promotion Bureau and private
sector people, the agency said.
Though last year’s trade fair was a success and there were vast potentials in
it, due to bottlenecks in the shipping and banking sectors the bilateral trade
did not come up to expectations. The
agency also added that, due to strict foreign currency regulations in Burma the Burmese businessmen had
limitations in opening L/Cs. To do away
with the barriers the Burmese junta premier, general Than Shwe agreed to
accounts trade system and direct shipping links between Chittagong and Rangoon while he was on an official visit
last December. If accounts trade is
introduced as with Thailand the Bangladesh – Burma trade will get a boost-up and trade
gap reduced, hoped the trade officials and business community here.
From the figures of the official trade between the two neighbours in 2000 – 01,
imports to Bangladesh recorded to the tune of US$24.69
million while export was only $1.09 million.
The figure shows that Bangladesh did not win in the bilateral trade
situation. Yet exporters here remain
highly hopeful of the prospects in exporting pharmaceuticals, jute and jute
products, ceramic, steel products and cosmetics, especially if accounts trade
is introduced. In the absence of direct
LC opening facility, most of the importers from Burma last year requested the business
people from Bangladesh to go for barter trade.
the irritating presence of third-country goods, especially from China, in imports from Burma, remains a vexing question for the
government and business circles of Bangladesh, said a renowned member of the
business community in Dhaka.