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Bangladesh Eyes EU Trade Links for Economic Growth
Bangladesh Seeks Investment and Trade Partnership with European Union, says BSEC Chairman Professor Shibli-Rubayat-Ul-Islam.
In a recent summit held in Brussels, Belgium, titled “The Rise of the Bengal Tiger: Potentials of Trade and Investment in Bangladesh and the EU Countries,” Professor Shibli Rubayat-Ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC), emphasized the importance of establishing a trade and investment partnership with the European Union (EU). The summit, organized in collaboration with the Bangladesh Securities and Exchange Commission and the Bangladesh Investment Development Authority, aimed to foster bilateral economic ties between Bangladesh and Belgium, as well as other EU member states.
Prof. Shibli Rubayat-Ul-Islam delivered a presentation titled “Fifty Years of Bangladesh: The Rise of the Bengal Tiger” at the summit. He highlighted the strategic and convenient position of Bangladesh in South Asia and the potential opportunities for its young and vibrant workforce. Furthermore, he discussed various aspects of Bangladesh’s recent economic development, including its impressive economic growth, poverty reduction, improvements in child mortality rates, increased food production, women’s participation in the workforce, demographic dividend, skilled labor force, and political stability.
Prime Minister Sheikh Hasina’s video message was screened at the summit. In a video message, Sheikh Hasina thanked everyone who participated in the summit organized jointly by BSEC and BIDA. He mentioned Bangladesh’s cordial bilateral relations and cooperation with Belgium and the European Union.
He highlighted various aspects of the economic and infrastructural development of Bangladesh in recent times. He said that Bangladesh has become a 465 billion dollar economy from a 70 billion dollar economy in just 15 years and Bangladesh is on the way to become a developed smart country with a trillion dollar economy.
The BSEC Chairman outlined the favorable aspects of investing in Bangladesh and encouraged the European Union to be part of Bangladesh’s journey toward becoming a smarter nation. He stressed that Bangladesh is well-positioned to become a hub for trade and commerce, with a rapidly growing trade volume.
During the summit, a panel discussion titled “Trade and Investment Opportunities in Bangladesh” took place. Among the panelists were Ambassador Mahbub Hasan Saleh, Bangladesh’s Ambassador to Belgium, Luxembourg, and the European Union; Mohammed Mokammel Hossain, Secretary of the Ministry of Civil Aviation and Tourism; AKM Nurul Fazal Bulbul, Vice Chairman of the Central Depository Bangladesh Limited (CDBL); and Shaikh Yusuf Harun, Managing Director of Bangladesh Economic Zones Authority (BEZA).
Notably, as part of an ongoing initiative to promote Bangladesh as an attractive destination for foreign investment, the “Bangladesh Investment Summit” is being organized in various countries worldwide. The Brussels summit showcased the continuity of this approach and highlighted the unique opportunities that Bangladesh offers to investors and businesses from Belgium and EU member states.
Dhaka Stock Market DSE, Bourse on the last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
