The Chittagong Chamber of Commerce & Industry (CCCI), established in 1959, is a premier Chamber of Bangladesh. It provides a wide spectrum of services to the trade and industry and acts as a catalyst for growth of business in the country.

The Chamber has been all along very keen to address the requirements of the commercial capital and aspirations of entrepreneurs so that a congenial atmosphere is assured for growth of trade, industry & economy including induction of more FDI to some potential sectors that offer alluring profit guarantee. As part of its various trade promotional activities, CCCI has been arranging Chittagong International Trade Fair (CITF) – the largest international trade fair in the country for the last fifteen consecutive years and the event has been a total success with respect to enthusiastic participation by leading local, foreign and multinational business & manufacturing enterprises of Asia, Europe, USA and African countries.

Since its humble striding in 1992, CITF has created a tremendous enthusiasm among the exhibitors & visitors registering a significant growth in terms of participants, sales and promotion of products/services. With the passage of time, the event has emerged as the largest international trade fair of the country in term of participation.

Vegetable is one of the essential food items for growth and maintenance of health of human beings. In the months of December to March varieties of vegetables are available throughout Bangladesh. But in the rest of the year frequently people confront tremendous shortage of vegetables. Bangladesh is pre-dominantly an agricultural country with rich soil condition and climate. Numerous types of vegetables could also be grown over here in April to November. It is matter of regret that after four decades of independence we could not produce enough vegetables for the people.Other hand if we use our potentials we also can earn a huge amont of foreign currency by vegetable exporting .

One suitable sadar union in every rural upzila and unions surrounding cities and district towns should be ear marked, especially for vegetable production. Types of vegetable are to be selected on the basis of soil condition, climate and season. Government has to extend necessary inputs for vegetable production at the doorsteps of the farmers. Farmers should be motivated to grow vegetables.

Vegetables generate cash to the growers. It would help to reduce dependence on rice. We know modern science says that eating excess rice, which we do in general, is not good from the health point of view.

Documentary film may be made on each vegetable showing different important aspects like, transplant seedlings, plant cultivation, insect protection, use of fertilizer, harvesting, storing and grading, selling vegetable etc. and storing vegetable seeds for future use. The documentary should be telecasted repeatedly through available electronic media.

Owing to budgetary procedural limitation innovative or experimental projects could hardly be taken by the relevant ministry or its attached offices. A special additional allocation — may be 3% to 5% of the revenue allocation per annum — could be given extra to each ministry with delegated authority to undertake and implement innovative or experimental projects.

Prime Minister Sheikh Hasina last week , in parliament unveiled her government’s massive plans to develop and modernise all sea, river and land ports of the country in addition to setting up a deep-sea port to boost Bangladesh’s economy.

She said Chittagong and Mongla ports will be prepared for the use of neighbouring countries by implementing various plans including construction of new container terminal, purchasing modern equipment for the two ports and carrying out capital dredging from Sadarghat to the third Karnaphuli Bridge.

The government also plans to construct new river ports at Noapara, Bhairab-Ashuganj and Barguna and a new inland container terminal at Pangaon. Besides, land ports at Teknaf, Hili, Banglabandha and Bibirbazar will be made operative after development work, Hasina said in her scripted answer to a query.

“Only 40 percent capacity of Chittagong port and 10 percent of Mongla port is being currently used. Revenue earning will be more than double when the usage is increased,” she said, adding that the earning will be increased further when neighbouring countries will be allowed to use the two seaports. This will also generate new employment opportunities.

On setting up a deep-sea port at Sonadia Island, Hasina said in light of a cabinet decision work is on to prepare detailed design of the port and explore foreign fund.

The premier said her government plans to introduce computerised container terminal management system at Chittagong Port, construct backward linkage at terminals 4 and 5 at New Mooring container terminal, appoint private global operator for running the terminal.

She said two vessels, one for oily waste reception and another for solid waste, will be purchased to improve environment management of Chittagong Port.

“Radiation detection equipment will be installed at Chittagong Port under the US Megaports Initiative to prevent smuggling of nuclear and radioactive goods through global maritime system,” the premier said.

The Karnaphuli container terminal will be constructed replacing expired jetties 11-13 at Chittagong Port. A multi-storey car-parking shed will be built at the port, she said.

Hasina said the government has planned for bank protection and capital dredging from Sadarghat to the third Karanphuli Bridge to protect important establishments at Chittagong Port from possible risk, and ensure discipline berthing of ships and navigability in Karanphuli channel.

On the development of Mongla Port, Hasina said her government plans to collect cargo handling equipment, cutter suction dredger, dispatch boat, and carry out dredging at outer bar of the Pashur channel and harbour area of the port.

She said activities of Benapole land port will be brought under automation to bring dynamism and transparency in its functions. The port will also have its own cargo handling equipment. Besides, a project to modernise the port will be implemented in two phases, she said.

The premier said Bhomra land port and Barisal river port will also be developed.

Besides, railway network will be set up across the country as well as the network from Dhaka to Cox’s Bazar will be expanded.

Hasina said the number of lanes on Dhaka-Chittagong Highway will be increased to six in phases as the process for upgrading the highway into a four-lane one has begun.

Bangladesh: Chittagong and Mongla port prepared for use by neighbours, deep-sea port to be constructed

Raising Tea Demandin Bangladesh-May overflow export.Bangladesh, known as a tea-exporting country, will turn into a tea-importing one within the next five years due to the fast-growing domestic demand.

?Some 58 million kilograms of tea are produced in the country every year of which 10-12 percent are exported,? Dr Mohammed Ataur Rahman, former Manager of Forestry and Subsidiary Crops of James Finlay (Bangladesh) Limited told UNB.

Referring to the growing habit of taking tea by people, Dr Mohammed Ataur Rahman said Bangladesh used to export 80 percent of its produced tea barely 20 years back when local tea consumption was very low. ?The country will have to import tea if its people start taking more than one cup of tea regularly,? he said.

Dr Mohammed Ataur Rahman, also Director of Education for Sustainability and Centre for Global Environmental Culture (CGEC) of the IUBAT-International University of Business Agriculture and Technology, has a book on tea to his credit.

The book titled ?Improvement of Tea: Environment and Cultural Practices? was published recently.

In his book, he described that Bangladeshi tea is characterized by strong liquor and moderate flavor. ?About seventeen promising well-suited clones are developed by Bangladesh Tea Research Institute and those are being propagated quickly and cultivated in tea estates.?

Besides, the book said, high-yielding clones have also been introduced from India, China and Kenya. In most cases, high-yield, flavor and disease resistance parameters are considered with a hope to increase the yield.

Emphasizing the need for improving the yield, he suggested that natural habitat, climatic condition, soil and associate flora, manpower, transportation, power and fuel should also be considered along with high yielding, disease resistant and good liquored Jat (variety) for sustainable tea cultivation.

Dr Rahman, who obtained his PhD degree on Forestry and Environment, from California, USA, mentioned that indiscriminate use of chemical fertilizers and pesticides can bring quick benefit but at the cost of soil health, natural associate flora and fauna as well as environment. ?Hence, in the long run, the ultimate loss will become many times more than the benefits.?

All options should be explored to increase the yield and production, he said adding that Bangladesh has the materials, market and manpower and it is only the thought to be implied for the improvement of tea with the existing facilities to achieve the maximum yield. ?Therefore, the future of Bangladesh tea depends on the planning of research at appropriate direction.?

Terming tea as the cheapest versatile natural beverage in the world, Dr Rahman mentioned that tea has medicinal and health values and international acceptability.

He said various age groups in all sections of society consume tea and some three billion cups of tea are consumed daily worldwide. ?Tea is business to many; it?s a partner in progress and development and a major item of trade,? he said, adding that it?s also part and parcel of research, art and literature.

In his book, Dr Ataur mentioned that tea, especially green tea, has already been proved as a great therapeutic contains powerful anti-oxidants like catechins, Epigallocatechin gallate (EGCG), gallotannin and polyphenols, which are beneficial in counteracting a number of fatal diseases like breast and ovarian cancers, tumors and heart diseases.

Dr Ataur said drinking of 8-10 cups of green tea a day is beneficial against coronary heart attacks, obesity, Alzheimer disease, diarrhoea and gastro-intestinal diseases. ?As to the future, researchers hope to find out more about how specific components in tea are used by the body and the mechanism by which they may contribute to disease prevention.?

Describing further the benefits of tea, he said beauticians use tealeaves for hair dyeing. Tea liquor of thick consistency mixed with henna, egg, lime and oil that color the hair dark, bright- the luster comes from tea.

Tea is also a good conditioner for hair after shampoo. It imparts a healthy sheen along with body. For faded and discolored clothes, immersion in tea decoction, it turns old into new.

Tea the one of the high ranked export item of Bangladesh .Bangladesh tea exports sank by slightly more than two thirds in 2009 as most of the crop produced was consumed locally, a trend expected to continue this year, traders said on Monday.

Production rose by one percent to 59.24 million kg but exports fell 68 percent to 2.53 million kg in 2009, according to broker figures.

“Despite an increase in yields, exports are likely to fall further as the internal consumption is rising,” Rafay Nizam, a director at National Brokers Ltd, a leading tea broking firm, told Reuters.

By comparison, Bangladesh tea exports peaked at 31 million kg in 1980 when production was 40 million kg.

Tea grown in Bangladesh is mainly sold at the country’s lone auction centre in the port city of Chittagong in weekly sales with overseas traders increasingly scarce and most of the business now handled by local traders, Nizam said.

The average auction price in 2009 rose 23.40 percent to 136.94 taka ($1.98) per kg, following stiff competition among buyers at auctions over the period. On Jan. 26, the average auction price touched 158.83 taka per kg.

A total of 54.25 million kg of tea was sold at the auction centre in 2009, compared to 55 million kg in the previous year.

Bangladesh has 156 tea gardens covering nearly 100,000 hectares (250,000 acres) and 75,000 hectares under direct tea cultivation.

Pakistan, the Commonwealth of Independent States, Afghanistan and Middle East countries are the main importers of Bangladesh teas.

The country’s palm oil import in 2009 crossed the million tonnes mark to a total of 1,023,128 tonnes including crude and refined palm oil, reports BSS.

Malaysian Palm oil marketing sources said in Dhaka the country saw a record growth in import of edible oil last year, mainly palm oil joining the million tonnes’ importers club.

Import grew by a record 25.39 per cent from January to December last year compared to that in previous 2008, sources said further.

Meanwhile, the offer of a new credit line announced during a conference of Malaysian Palm Oil Council held recently in Dhaka to support further market expansion of palm oil in Bangladesh is likely to bring a new boost to its imports.

The commerce minister of Bangladesh is expected to visit Malaysia soon, the source said adding detailed might be worked out on this credit line issue centring the forthcoming visit.

Previous :Palm oil : Malaysia to stop turn down In Palm Oil Exports To Bangladesh
Bonus for producer of palm oil
Palm oil is the most widely used edible oil in the world. Last year, about 40 million tons of it was consumed and 500,000 tons in Britain alone.

In developing countries it is used mainly as a cooking ingredient, but in the West it is used by the major food manufacturers to make all those things people love to eat, even if they know they shouldn’t – cakes, biscuits, crisps, ice-cream and so on. It is also used to produce toiletries, but 90 per cent goes into foodstuffs.

It is even used in bread and margarine. In fact, if a food product lists vegetable oil as an ingredient, the chances are that it is palm oil.

The oil is in such high demand because it is cheaper to produce than any other. Palms grow fast and the yield on the crop is ten times that of its nearest rival, soy. Palm oil has also grown in popularity recently because it does not contain trans-fats, which have been linked to heart disease.
Asian Plantations (Traded on: AIM, Ticker: PALM) does none of these things. The company joined Aim in November last year and operates from Sarawak in Malaysia. Malaysia banned the conversion of forest into agricultural land 15 years ago, so the sites that Asian Plantations owns have been officially designated for farming.

In most of Malaysia, the land suitable for palm oil production has already been snapped up, but Sarawak is remote and opportunities still exist, particularly for well-connected entrepreneurs.

Asian Plantations is run by two chief executives – Dennis Melka, a financier who has spent the past decade in south-east Asia, and Graeme Brown, a plantations and agriculture expert who is married to the daughter of one of the leading families in Sarawak.

This means the company combines financial know-how, farming expertise and local connections. The group owns more than 10,000 hectares, some of which were acquired last month and are already producing oil.

The rest of the land is at an earlier stage. Asian Plantations has planted out 2,000 hectares and these should start to deliver oil late next year.

Palms spend the first nine months of their life in a nursery and the first harvest comes 18 months later. Supply rises steadily for about seven years and the palms will deliver at that rate for another 18 years or so.

Asian Plantations expects to have planted a further 2,000 hectares by 2011 and the profits should start flowing in 2012. Brown is also something of a pioneer, having invented a way of sterilising palm fruit in a way that is more efficient, less labour intensive and more environmentally friendly than other methods as it converts the methane produced into electricity to power the process.

Midas verdict: Asian Plantations is a young company and, as such, there are risks attached. The business may well try to raise more money from shareholders and there may be moments when the market takes against the stock because the price of palm oil dips, for example.

On the plus side, the firm is well run and is involved in the production of a crop for which demand continues to increase as global populations grow.

China and India are two of the biggest consumers of palm oil and, as they become richer, their desire for processed foods that use the oil will only increase.

The export sector within Bangladesh has grown to become an increasingly significant component of national trade, and has involved significant private sector investment over the last decade. The connection of production networks commonly involving small-scale producers, and traditional market and distribution systems, to supply raw materials for products meeting international standards, offers particular management and logistic challenges.To emphasis export Bangladesh Bank has doubled the export development fund (EDF) to $300 million (Tk 30 crore) on Tuesday to offset export losses from global recession. which was previously $150 Million.

We’ve relaxed the rules and regulations relating to EDF loans to add an impetus to the country’s export performances,” a senior official of the Bangladesh Bank (BB)

“The EDF has been doubled to cover the losses of the exporters due to global recession,” governor Atiur Rahman told .

Exporters will benefit from the fund, he said.

The central bank, which manages the EDF, provides loans from the fund to exporters in foreign currencies. The EDF size was $ 150 million or Tk 15 crore before.

The textile owners under the BTMA, who did not get any loan from the fund, will
now get loans to import yarn on condition that clothes made from it must have to be exported, said Rahman.

A circular, issued on Tuesday, was sent to the chief executives of all banks.

From Jan 1 next year, the banks will take loan from EDF at London Interbank Offered Rate (LIBOR) plus 1 percent interest and will extend credit to the exporters at LIBOR rate plus 2.50 percent interest.

Until now, they used to borrow from EDF at the LIBOR rate and gave loan at LIBOR rate plus 2.50 percent interest to the exporters.

The previous process will become void on December 31 of the current year, said the circular.

Bangladesh for the first time will export automobile parts and accessories products to the US market, steering in a new horizon in the country’s industrial sector. which is expected to boost up the light engineering industry.

Initially, three automobile samples- bumper bracket, rubber brush and suspension kits will be produced as part of the first order worth $15,000 for New Milbert International Inc, a US company.

Few other products –grill,piston, moulding, fender and mirror — will be exported to the US in phases.

On the basis of quality assurance of the spare parts, Bangladesh may get export orders worth billions of dollars to the potential US market, Industry Ministry sources said.

“Although the order worth 15,000 US dollar is small in size, it is just beginning of entrance to the US market.

If we can carry the initiative forward it will be easier to turn the country into a digital Bangladesh as envisioned by Prime Minister Sheikh Hasina,” said Industries Minister Dilip Barua at a function in connection with the MoU signing at the BITAC’s conference room here..

Bangladesh Engineering Industry Owners Association, Bangladesh Industrial Technical Assistance Centre (BITAC) and New Milbert International Inc yesterday signed a tripartite deal.

Industries Minister Dilip Barua was present at the signing ceremony.

“We are impressed by the potential of the local light engineering sector. We have ordered few samples of automobile accessories. If they can deliver the order successfully, a wide door will open for Bangladesh,” said Nishan Rahim, managing partner of New Milbert International.

Abdur Razzaque, president of BEIOA, Dr Ihsanul Karim, assistant director of BITAC, were the other signatories to the deal.

Dilip Barua said the government is working for turning Bangladesh into an industry-thrived country by discouraging stopping mills and factories like the previous governments did.

In doing so, he said, a draft of the long-cherished industry policy has already been formulated.

The present administration wants to play a facilitating role instead of regulator and that is why it plans to cut export tax of entrepreneurs, said Dilip Barua.

The industries minister underscored the need for ensuring quality of products rather than maximizing profit.

Nisham Rahim termed the order as a simple and said the order could be billions of dollars if the government provides the exporters with necessary supports including 10 percent cash incentive and low interest rates.

Dr Ihsanul Karim said there is no alternative to implement Vision- 2021 to make the country industrialized. He suggested for engaging the large number of the country’s manpower in the potential light engineering sector.

Abdur Razzaque claimed that the sample products to be exported to the US market are as good as the products of Taiwan and India.

He listed infrastructures and utility shortages as major hurdles in the way of making more foreign direct investment (FDI) in the country.

New Milbert International sources parts mainly from India and Taiwan and supplies them to the US market.

BITAC will provide equipment makers with support in designing and automation.

The light engineering sector has flourished from almost nothing to a multi-crore taka business since independence in 1971.

The sector makes products ranging from automated teller machine frames, pharmaceutical packaging machines, machinery for garment sector and rice mills, automobile spare parts, power looms and machinery for paint industry.

It also produces machinery for making ballpoint pens, furniture, bakery equipments, flourmills, CD and DVD covers, plastic baskets and carriers.

The sector manufactures around 10,000 types of items worth $120 million a year for the local industry.