Economy
CEPA, JBC in Focus as UAE & Bangladesh Strengthen Ties
During a bilateral meeting on Friday evening in Al Ain, Abu Dhabi, UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan expressed a commitment to transforming the relationship with Bangladesh into a partnership. The meeting with Bangladesh Foreign Minister Hasan Mahmud focused on key areas of collaboration, emphasizing the signing of the Comprehensive Economic Partnership Agreement (CEPA) and the activation of the Joint Business Council (JBC) for enhanced economic ties.
Foreign Minister Hasan Mahmud initiated the meeting by presenting an invitation letter from Prime Minister Sheikh Hasina to the UAE President, inviting him to visit Bangladesh in celebration of 50 years of diplomatic relations.
Highlighting the historical ties between the two nations, Hasan praised the UAE’s progress over the past five decades and underscored Bangladesh’s achievements under the leadership of Prime Minister Sheikh Hasina.
The ministers discussed bilateral cooperation, exploring new areas such as energy security, food security, environment, climate change, renewable energy, and enhancing people-to-people communication. Hasan emphasized investment potential from the UAE in developing the Matarbari Exclusive Economic Zone, port and logistics management, and the gifted land in Rangunia.
The UAE Foreign Minister expressed interest in advancing ongoing investments and the leaders exchanged views on regional issues, including Rohingya repatriation and efforts to end the Gaza war.
In response to Hasan’s request, Sheikh Abdullah gave a positive response to simplifying the visa process for Bangladeshis in various trades, including graduate nurses, caregivers, healthcare technicians, agriculturists, farmers, and professionals, and easing the transfer of work permits.
Ambassador of Bangladesh to the UAE, Md. Abu Zafar, and Director General of the West Asia wing of the Ministry of Foreign Affairs, Md. Shafiqur Rahman, were present during the meeting, reflecting the diplomatic engagement between the two nations.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
