The Bangladesh Bank has enlisted 131 valuation firms and companies to assess collateral or mortgaged assets against loans taken or to be taken from scheduled banks.

The central bank issued a circular today (7 September), informing the managing directors and chief executives of all scheduled banks about the enlistment.

According to the circular, the firms were enlisted as eligible under the Enlistment Policy for Collateral Valuation Firms or Companies, issued by Bangladesh Bank on 28 November 2023.

Of the 131 enlisted firms, 98 have been classified under Group A, while 33 have been placed in Group B.

Scheduled banks have been advised to use the enlisted firms to assess collateral provided by their customers against existing or prospective loans.

Banks have also been instructed to follow valuation-related guidelines issued by Bangladesh Bank from time to time.

The enlistment will remain valid for three years. The enlisted firms have been advised to apply for renewal at least six months before the expiry of their enlistment.

However, Bangladesh Bank may cancel the enlistment of any firm before the three-year period if it fails to comply with the conditions of the policy.

The firms have also been instructed to submit their annual reports to Bangladesh Bank by 15 January every year.

Business leaders and professionals have called for changes to the proposed amendments to the Companies Act, 1994, seeking to ease business operations and strengthen corporate governance.

Their recommendations included deregistering dormant companies, clarifying the definition of a "company group", shortening the notice period for annual general meetings (AGMs), and retaining safeguards around auditor changes.

The proposals were raised at a consultation on the draft third amendment (2026) to the Companies Act at the FBCCI office in Motijheel, Dhaka, yesterday (7 September).

FBCCI Administrator Md Fazlul Haque chaired the meeting, attended by representatives of business associations, regulators, stock exchanges and audit firms.

Md Yasin Miah, a member of the Institute of Chartered Accounts of Bangladesh (ICAB), highlighted the large gap between registered and active companies. Although around 3,00,000 companies are registered, only 57,000-58,000 have been audited since the Digital Business Identification system was launched in 2020, the meeting was told.

He called for a simplified process to identify and deregister inactive companies.

Yasin also opposed a provision easing auditor changes, warning it could allow intermediaries to influence companies to switch auditors and potentially undermine audit quality.

On behalf of FBCCI, Barrister Nihad Kabir proposed requiring companies to give shareholders at least 21 days' notice before an AGM. However, a businessman suggested reducing the period to 14 days, a proposal backed by Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

Nihad also proposed making company secretaries mandatory for firms with annual revenue above Tk500 crore and allowing greater flexibility in appointing independent directors at unlisted public limited companies.

Business representatives also called for a unified definition of "group" under the Companies Act and banking regulations, citing recurring disputes with Bangladesh Bank over the issue.

Bangladesh Securities and Exchange Commission (BSEC) Executive Director Abul Kalam said several proposals submitted by the commission in December 2025 were absent from the draft, including allowing listed companies to buy back their own shares under specific conditions.

He said Section 58 of the existing law restricts companies from purchasing their own shares.

BSEC also proposed modernising annual reports and allowing digital publication, as well as replacing "balance sheet" with "annual financial statement" and "board report" with "annual report".

Commerce Minister Khondaker Abdul Muktadir said the law would be updated based on feedback from businesses and industrialists.

"This law will primarily be used by businesses themselves, so it must be modernised based on their needs, practical experience and future demands," he said.

FBCCI Administrator Fazlul Haque urged business associations to submit written recommendations within seven days, saying a revised draft would be published within a month after considering their feedback.

US companies are very interested in building more floating storage and regasification units (FSRUs) in Bangladesh, US Ambassador to Bangladesh Brent T Christensen told Commerce Minister Khandakar Abdul Muktadir.

The ambassador made the remarks during a meeting with the commerce minister at the Federation of Bangladesh Chambers of Commerce and Industry office in Dhaka today (7 September), as the government moves to give a contract to a Chinese company to build the third FSRU.

FSRU is a specialised vessel or offshore facility that stores liquefied natural gas and converts it back into a usable gaseous state.

The Economic Affairs Committee of the Cabinet has given in-principle approval to China National Energy Engineering and Construction Ltd to establish the terminal under a government-to-government arrangement.
US Ambassador to Bangladesh Brent T Christensen meets Commerce Minister Khandaker Abdul Muktadir at the Federation of Bangladesh Chambers of Commerce and Industry office in Dhaka on 7 September 2026. Photo: PID
US Ambassador to Bangladesh Brent T Christensen meets Commerce Minister Khandaker Abdul Muktadir at the Federation of Bangladesh Chambers of Commerce and Industry office in Dhaka on 7 September 2026. Photo: PID

Christensen said a transparent and competitive environment for major infrastructure projects, including FSRU, would boost foreign investors' confidence.

He also welcomed Bangladesh's long-term LNG import agreement with US-based Gunvor Group, calling it a positive development.

In response, Muktadir welcomed US investors and said American companies would receive the highest consideration if they could demonstrate their ability to supply an FSRU within the shortest possible timeframe.

The US ambassador and the commerce minister also discussed Bangladesh's import policy.

Christensen said the new policy included several positive changes, although some provisions could be made more business-friendly.

Muktadir said the import policy was a continuing process and necessary reforms were being reviewed regularly in line with market conditions and economic realities.

The minister also highlighted the removal of the previous requirement for foreign companies to appoint local agents when supplying strategic equipment.

He said allowing government agencies to deal directly with manufacturers had increased transparency in procurement and reduced the influence of intermediaries.

According to the Commerce Ministry, the meeting also discussed increasing US investment, ensuring transparency in major infrastructure projects, improving the business environment, expanding bilateral trade and strengthening energy-sector cooperation.

Both sides expressed optimism that regular discussions would further strengthen commercial relations between Bangladesh and the United States.

Bangladesh currently has two floating LNG terminals. One is owned and operated by US-based Excelerate Energy, while the other is owned or operated by local conglomerate Summit Group.

The government has initiated efforts to establish a third terminal, with several domestic and foreign companies showing interest. The Chinese engineering firm has proposed constructing an offshore LNG terminal at Kutubjom in Moheshkhali under a build-own-operate model.

Earlier, Summit signed the agreement with the government in March 2024 during the previous Awami League regime. The interim government later cancelled it.

Meanwhile, Summit has urged Petrobangla to reconsider the cancellation of its agreement to build another FSRU.

Summit has claimed that reinstating its project could save Bangladesh $1.10 billion compared with the FSRU proposed by the Chinese firm. Summit sent a letter to Petrobangla on 6 September seeking reconsideration of the cancellation.

A 40-foot container carrying fabrics worth around Tk3 crore has allegedly remained untraced inside Chattogram Port for more than a week, putting an export-oriented garment manufacturer at risk of missing shipment deadlines.

The container, numbered MRSU-8692827, was carrying 668 bales of fabrics imported for Gold Star Garments Ltd, a garment manufacturer based in Kaliakoir, Savar.

The container arrived aboard the MV MCC Danang and was discharged at Chattogram Port's NCT-2 berth on 15 August, according to documents seen by The Business Standard and sources familiar with the shipment.

After completing customs clearance and paying all applicable port charges, the clearing and forwarding (C&F) agent went to the Chattogram Container Terminal (CCT) yard on 30 August to take delivery.

But port officials could not locate the container.

The C&F firm, SRS Syndicate, was later asked to search for it. The firm said it searched for several days and repeatedly contacted the terminal manager, assistant terminal officer and transport officer, but failed to locate it.

It then submitted a written complaint to the Chattogram Port Authority (CPA) chairman on 2 September, seeking urgent action to locate and deliver the container.

According to the complaint, the shipment consisted of one 40-foot full-container load containing 668 bales of fabrics imported for a 100% export-oriented garment manufacturer.

Customs records show that SRS Syndicate filed the bill of entry through the ASYCUDA World system on 22 August. The bill of entry number is C-1209166, while the bill of lading number is 802015128A.

The complaint states that all customs and port charges had been paid before the agent went to collect the container on 30 August. However, the CPA could not hand it over, although it was supposed to be in the CCT yard.

SRS Syndicate proprietor Md Hafizur Rahman told The Business Standard that the fabrics were urgently required by Gold Star Garments to meet export deadlines.

"We cleared all customs and port fees to collect the container, but it was nowhere to be found. More than a week has passed," he said.

He added that the missing 100% export-oriented fabric, valued at around Tk3 crore, puts Gold Star Garments in a critical position. Without the material, the exporter risks missing its scheduled delivery deadline to the buyer.

CPA Secretary Syed Refayet Hamim confirmed that the port authority had received the complaint.

"The CPA formed a committee four days ago to look into the matter," he told TBS, adding that there was no further update yet.

Not an isolated incident

The latest case comes amid growing concerns over the traceability and security of containers inside Chattogram Port.

In August 2025, The Business Standard reported that two fabric-laden containers worth around Tk1.5 crore had disappeared from the port within six months.

In one case, a customs-auction buyer paid Tk85 lakh for 27 tonnes of fabric and another Tk22 lakh in duties, VAT and port charges, only to find that the container was missing when he went to collect it. The CPA later acknowledged that the container could not be traced.

Another buyer had also paid Tk42 lakh for auctioned fabrics but could not take delivery because the container was missing, according to the report.

Meanwhile, in April this year, the CPA filed two separate criminal cases over the disappearance of two other loaded containers.

Port Police recovered an empty container from Halishahar after investigators alleged that it had been removed from the port using forged seals, fabricated signatures and fraudulent gate-clearance documents. However, the imported fabric, valued at about Tk2 crore, was missing.

Police have arrested four people, including two port employees, while another suspect remains absconding.

Another container carrying imported fabric worth about Tk2.5 crore also disappeared earlier this year and remains untraced.

The incidents raised concerns among traders and port experts over possible collusion involving insiders, as containers normally pass through multiple documentation and gate-clearance procedures before leaving the port – worries that have since deepened across the industry.

In July this year, customs officials told TBS that they could not physically locate 250 high-risk import containers at Chattogram Port that had been flagged for suspected smuggling, misdeclaration or revenue evasion.

Customs had repeatedly asked the CPA to identify their locations so the consignments could be inspected, but had not received the required information.

Investigations into some of the earlier cases also found discrepancies between physical container locations and digital cargo records.

In one case, the CPA's Oracle-based cargo management system continued to show a missing container as being stored at the CCT yard even though investigators could not find it physically.

The latest case raises fresh questions about the effectiveness of container tracking and yard management at the country's principal seaport.

For Gold Star Garments, however, the immediate concern is recovering the fabrics. Any prolonged delay could disrupt its production schedule and affect its ability to meet export commitments.

দেশের তরুণ প্রজন্মের মধ্যে পুঁজিবাজার, বিনিয়োগ ও আর্থিক বিষয়ে সচেতনতা বাড়াতে লংকাবাংলা সিকিউরিটিজ পিএলসি ও এক্সিলেন্স বাংলাদেশের মধ্যে সমঝোতা স্মারক স্বাক্ষরিত হয়েছে।

গত ৫ সেপ্টেম্বর ২০২৬, শনিবার রাজধানীর বনানীতে লংকাবাংলা সিকিউরিটিজের কার্যালয়ে আয়োজিত এক অনুষ্ঠানে দুই প্রতিষ্ঠানের প্রতিনিধিরা আনুষ্ঠানিকভাবে এই সমঝোতায় স্বাক্ষর করেন। অনুষ্ঠানে উভয় প্রতিষ্ঠানের জ্যেষ্ঠ ব্যবস্থাপনা পর্যায়ের কর্মকর্তা ও সংশ্লিষ্ট ঊর্ধ্বতন কর্মকর্তারা উপস্থিত ছিলেন।

সমঝোতার আওতায় দেশের বিভিন্ন বিশ্ববিদ্যালয়ের শিক্ষার্থীদের জন্য পুঁজিবাজার ও বিনিয়োগ বিষয়ে সচেতনতামূলক কার্যক্রম পরিচালনা করা হবে। পাশাপাশি শিক্ষামূলক আলোচনা, সেমিনার, শিক্ষার্থী প্রতিযোগিতা, ক্যাম্পাস প্রতিনিধি কার্যক্রম এবং ডিজিটাল প্রচারণার মতো বিভিন্ন উদ্যোগ নেওয়া হবে।

এই অংশীদারিত্বের মাধ্যমে ২০৩০ সালের মধ্যে দেশের ১০ লাখ শিক্ষার্থীর কাছে পুঁজিবাজার ও বিনিয়োগ সম্পর্কে প্রাথমিক ও প্রয়োজনীয় জ্ঞান পৌঁছে দেওয়ার লক্ষ্য নির্ধারণ করা হয়েছে। তরুণদের মধ্যে সঠিক আর্থিক জ্ঞান তৈরি এবং দায়িত্বশীল বিনিয়োগের সংস্কৃতি গড়ে তুলতে এ উদ্যোগ গুরুত্বপূর্ণ ভূমিকা রাখবে বলে আশা প্রকাশ করা হয়েছে।

অনুষ্ঠানে লংকাবাংলা সিকিউরিটিজ পিএলসির ব্যবস্থাপনা পরিচালক মোহাম্মদ নাসির উদ্দিন চৌধুরী এবং এক্সিলেন্স বাংলাদেশের প্রতিষ্ঠাতা ও প্রধান নির্বাহী কর্মকর্তা বেনজির আবরারসহ দুই প্রতিষ্ঠানের জ্যেষ্ঠ কর্মকর্তারা উপস্থিত ছিলেন।
দুই প্রতিষ্ঠানের পক্ষ থেকে বলা হয়েছে, এই সমঝোতার মাধ্যমে দেশের বিশ্ববিদ্যালয়, তরুণ প্রজন্ম ও পুঁজিবাজারের মধ্যে একটি কার্যকর এবং টেকসই সংযোগ গড়ে তোলার সুযোগ তৈরি হবে। একই সঙ্গে শিক্ষার্থীরা ভবিষ্যতে আর্থিক সিদ্ধান্ত নেওয়ার ক্ষেত্রে আরও সচেতন ও দক্ষ হয়ে উঠবেন বলে প্রত্যাশা করা হচ্ছে।

The country's premier bourse, the Dhaka Stock Exchange (DSE), witnessed a classic "V-shaped" recovery today (7 September), with the benchmark index staging a remarkable 95-point turnaround in the final hour of the trading session.

After a harrowing mid-session slump that saw the DSEX plunge below the psychological 5,500-point threshold, a surge of institutional buying interest helped the market erase its massive losses and settle on a positive note, according to the market insider.

The trading day began with significant volatility, and by 12:30pm, the DSEX had plummeted by 67 points, hitting an intraday low that triggered panic among retail participants. However, the momentum shifted abruptly in the afternoon. Between 12:30pm and 1:58pm, the broad index climbed sharply, recovering all lost ground and adding enough momentum to close at 5,567 points, up 8 points from the previous session.

Market insiders observed that the final-hour boost was primarily orchestrated by institutional investors and high-net-worth individuals. These "bargain hunters" identified the mid-session crash as an attractive entry point, moving in to accumulate fundamentally strong shares at multi-month lows. This professional intervention provided a much-needed lifeline to the market's faltering momentum.

According to the daily market review by EBL Securities, the capital bourse finally found its footing after a prolonged downturn. The session was defined by a fierce tug-of-war between sellers and buyers. While intensified selling pressure dominated the first half of the day, the late-session buying spree in heavyweight scrips allowed the benchmark index to reverse its nearly 70-point intraday loss.

On the sectoral front, the textile sector emerged as the primary driver of liquidity, accounting for a massive 29.8% of the total turnover. It was followed by general insurance at 12.8% and the pharmaceutical sector at 12.0%. Sectoral returns were mixed, with textiles gaining 2.7% and the travel sector rising by 1.9%. On the flip side, the cement sector faced a correction of 1.1%, while the telecommunication segment also ended marginally lower.

The market breadth reflected the late-hour recovery, with 170 issues advancing compared to 150 that declined, while 63 remained unchanged.

Total turnover on the DSE saw a 5% uptick, reaching Tk571 crore.

Major index pullers that supported the rebound included Pubali Bank, Dominage Steel, Southeast Bank, Envoy Textile, and Malek Spinning.

Individual stock performance was highlighted by Tung Hai Knitting, which hit the 10% upper circuit limit. Other top gainers included Saiham Cotton, Premier Leasing, and Sea Pearl Beach Resort.

Conversely, Sena Insurance was the day's top loser, shedding 9.97% of its value, followed by CAPM IBBL Mutual Fund and Prime Textile. On the liquidity front, Sharp Industries, Saiham Cotton, and Envoy Textile were among the most traded stocks of the day.

While the premier bourse ended in the green, the sentiment remained slightly dampened at the Chittagong Stock Exchange (CSE), where the broad CASPI index dropped 82 points to settle at 14,919. Turnover at the port city bourse stood at Tk18.84 crore.

The initial public offering (IPO) drought is showing no sign of easing. More than two years after the last approval, the Bangladesh Securities and Exchange Commission (BSEC) has yet to greenlight a new share offering, despite various initiatives to revive the capital market.

The commission last approved an IPO in March 2024 for Techno Drugs.

Even now, six months after the new government took office and three months into the new BSEC commission's tenure, no company has formally applied to raise funds through an IPO.

This renders the prospect of a new company listing on the stock exchange in the near future increasingly unlikely.

Market stakeholders had anticipated fresh IPO filings with the start of the new fiscal year, as companies seeking capital must submit audited financial statements covering the preceding 180 days.

The prolonged drought has effectively blocked a key avenue for businesses to raise long-term expansion capital, forcing growing reliance on bank loans and internal revenues.

More importantly, there are currently no IPO applications or proposals awaiting approval at the BSEC, according to officials familiar with the matter.

This signals that the issue extends beyond regulatory delays. The deeper concern is that potential issuers are failing to progress from initial interest to formal applications.

Interest exists, but applications do not

Market stakeholders note that while several well-established, financially sound companies wish to raise long-term capital through the stock market, this interest has yet to yield formal applications.

Speaking on condition of anonymity, several merchant bankers told The Business Standard they are preparing several candidate firms for IPOs; however, many are waiting for regulatory clarity before submitting paperwork.

Prominent groups including BRB, DBL, City, and Confidence have surfaced in market discussions as prospective issuers.

This has created a paradoxical impasse: corporate interest exists and merchant bankers are preparing deals, yet no formal filings are reaching the regulator.

New government, new commission, new rules

The new government took office on 17 February, while the new BSEC commission assumed charge on 4 June.

Since assuming charge, the current commission has placed a strong emphasis on attracting large, high-quality issuers to the capital market. BSEC Chairman Masud Khan noted recently that Bangladesh boasts numerous well-established domestic and multinational corporations whose listings could significantly strengthen the market.

He further said the regulator aims to bring several prominent flagship companies to the exchange over the next six to twelve months, hinting that legal mandates could be considered if voluntary listings stall.

However, BSEC spokesperson Abul Kalam told TBS that the commission has not asked any company to refrain from applying for an IPO because of its initiatives to reform the regulatory framework.

"No IPO application will proceed unless an issue manager or company formally submits one," Kalam noted, adding that direct listing rules are now active alongside ongoing efforts to simplify the overall IPO framework.

Nearly Tk1,000 crore worth of proposals withdrawn

According to market sources, around 18 public offering proposals, including IPO applications, have been cancelled or withdrawn at various stages since March 2024.

These proposals could have raised around Tk1,000 crore from the capital market.

The contraction in the primary market is also evident from annual fundraising figures. In 2024, four companies raised Tk645 crore through IPOs. In 2023, four companies raised around Tk202 crore.

Earlier, six companies raised Tk626.26 crore in 2022, while 15 companies raised Tk1,858.44 crore in 2021.

Why are companies staying away?

Market stakeholders point to several factors driving the prolonged IPO drought. Valuation remains a primary concern, as entrepreneurs fear diluting ownership at unfavourable prices.

Regulatory uncertainty further fuels caution, with frequent changes to the IPO framework leaving prospective issuers hesitant to submit filings.

Additionally, companies are wary of post-listing compliance burdens, including stringent requirements for financial reporting, auditing, corporate governance, and independent director appointments.

Business owners are also seeking greater flexibility in how IPO proceeds are utilised – specifically for expanding operations and retiring expensive bank debt.

The problem is now the pipeline

The IPO problem has shifted from approval to pipeline. There are currently no IPO applications awaiting approval at the BSEC.

Although Bangladesh has 66 licensed merchant bankers engaging with prospective issuers, many firms are holding off until a more stable and predictable regulatory landscape takes shape.

To address this, the capital market reform task force has recommended streamlining the IPO process, lowering regulatory fees, reducing compliance hurdles, and implementing digital filing systems.

The key challenge for the government and BSEC is therefore to create a stable framework that encourages quality companies to move from initial interest to formal IPO applications and rebuild the market's pipeline of new issuers.

The Bangladesh Securities and Exchange Commission (BSEC) has called for a share buyback provision for listed companies in the proposed draft amendment to the Companies Act, 1994.

The capital market regulator also urged modernising corporate reporting standards, mandating regulatory consent for mergers involving listed firms, and extending the validity period of financial statements used in prospectuses.

BSEC Executive Director Abul Kalam placed the proposals at a views-exchange meeting on the draft amendment to the Companies Act at the FBCCI Board Room in the capital today (7 September).

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) organised it, with its Administrator Fazlul Hoque in the chair. Commerce Minister Khandakar Abdul Muktadir attended the event as the chief guest.

Representing BSEC, Kalam stated that targeted revisions across various sections are essential to align the law with modern business practices. He noted that despite submitting specific recommendations on 18 December 2025, key proposals – such as share buybacks – were omitted from the current draft.

Highlighting Section 58 of the existing act, which restricts companies from purchasing their own shares, Kalam urged policymakers to allow listed entities to buy back shares under specific conditions to improve capital management and safeguard shareholder interests.

Addressing Section 183, he emphasised updating statutory terminology – replacing "balance sheet" with "annual financial statements" and "board report" with "annual report" – while enabling digital publication and distribution of corporate reports.

Regarding mergers, acquisitions, demergers, and restructuring under Sections 228 and 229, Kalam advocated for formal BSEC involvement whenever a listed company merges with an unlisted entity to protect general investors, citing similar regulatory frameworks in India.

Furthermore, the BSEC representative proposed extending the time limit for using financial statements in prospectuses from 180 days to 270 days. Under current rules, financial data older than 180 days cannot be included in a prospectus for IPOs, rights shares, or bonds. However, Kalam explained that since the audit process alone can take up to 120 days, the remaining 60-day window is often insufficient to complete the approval and filing processes at the Registrar of Joint Stock Companies and Firms.

The Dhaka Stock Exchange (DSE) has held an awareness and consultative session with market stakeholders on introducing financial derivatives on its exchange-traded platform to deepen the market and diversify investment products.

Top executives from brokerage firms, merchant banks, asset management companies, and market institutions attended the session, where DSE outlined its roadmap—approved by the Bangladesh Securities and Exchange Commission (BSEC)—to launch derivative products by January 2028.

BSEC Commissioner Nafeez Al Tarik said the regulator supports the introduction of derivatives but stressed that robust infrastructure, strong risk-management systems and an operational central counterparty (CCP) through Central Counterparty Bangladesh Limited (CCBL) are essential prerequisites.

"Derivatives offer crucial hedging and risk management tools against liquidity and volatility risks. However, without proper readiness, they can introduce systemic exposure," Tarik said, stressing timely regulatory amendments and capacity building for brokers.

BSEC Executive Director Abul Kalam said index derivatives are relatively easier to introduce via cash settlement, provided real-time margining, mark-to-market mechanisms, and updated Exchange Derivatives Rules are established.

DSE Managing Director Nuzhat Anwar acknowledged BSEC's guidance and reiterated plans for phased stakeholder workshops.

Saied Mahmud Zubayer, GM of DSE's Market Development Division, presented the product roadmap: launching stock index futures in the first phase, followed by single stock deliverable futures, and eventually an options market in the long term.

It is very concerning that, despite having sufficient deposits in their bank accounts, depositors cannot withdraw funds because of liquidity crises and the inability of many banks and NBFIs to honour cheques or requests. Serious patients could not receive medical treatment, while emergency family needs, including higher education, could not be met. A few banks and NBFIs are still running well, but they can be counted on one hand. The issue came to the surface after August 5 of 2024, when owners fled or went into hiding, boards were restructured, top management changed and, in some cases, the central bank appointed administrators.

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Political will to ensure good governance is critical. Putting the right people in the right places is also important. Undue interference by the government and regulators should be avoided.

The question is why this happened when the central bank is responsible for monitoring and regulating the banking and financial systems, alongside the Ministry of Finance. The position on bad loans was kept suppressed, with the central bank exercising undue power over the quantum of provisions for bad and doubtful debts. It introduced tripartite meetings after statutory audits and dictated matters to external auditors, jeopardising their independence. Our experience over the past decade shows this weak governance. Tripartite meetings should only resolve disputes between clients and banks. In Bangladesh, this mechanism has been thoroughly misused.

Governance failures are apparently the key reason for this situation. Laws, rules and regulations were not adhered to; policies were not followed as they should have been; directors, especially chairmen, did not play their role as custodians, and independent directors failed to meet the expectations of depositors. Internal audit teams also failed to play their due role. Undue board influence, lack of professionalism and weak ethical standards also contributed. The failures of external auditors and senior management cannot be ignored.

My experience as a nominated director of a state-owned bank for about two years and an NBFI for more than five years was rewarding. The NBFI managed its asset quality very well. Even as an auditor for an NBFI, I had to discontinue my audit after one year of a three-year rotation because of a disagreement over the quantum of provisions for bad and doubtful debts. Neither the central bank nor the Ministry of Finance asked me about my discontinuation.

In the absence of a strong capital market, the main source of business finance is funding from banks and NBFIs. When banks and NBFIs are weak, and in some cases insolvent, business, trade, and industrialisation have no way but to suffer, while economic growth is severely affected.

Institutions are built over many years. When they fail to perform and financial systems break down, restoring them is difficult. Bangladesh is experiencing such a phase.

Political will to ensure good governance is critical. Putting the right people in the right places is also important. Undue interference by the government and regulators should be avoided. In cases of gross negligence or motivated decisions, wrongdoers should be subject to independent investigation by credible agencies. If proved guilty, they should be held accountable. Bad practices must not be repeated.

Ultimately, the situation must be addressed with due attention to timelines. Delays can be costly, and Bangladesh cannot afford them. Based on media reports, it is also alarming that the economy is likely to turn around only after four years. Although there is no visible basis for this statement, it is nevertheless hopeful that at least a ray of hope can be seen. Let us hope for the best.

A delegation of QatarEnergy, Bangladesh's largest contracted liquefied natural gas (LNG) supplier, is coming soon to find a possible way of resuming the LNG supply as its cargo halt created fuel furors in the country.
QatarEnergy stopped supplying LNG to Bangladesh immediate after the outbreak of the US-Israel war on Iran in the Middle East and restrictions on the passage of vessels through the strategic Strait of Hormuz.

The Middle-Eastern company announced 'force majeure' on March 4 to cease LNG supply to Bangladesh, and since then, it had extended the taboo every month. And under its latest announcement, QatarEnergy was not to send gas cargos until September.

The LNG-marketing team of QatarEnergy is expected to hold discussion with top officials of state-run Petrobangla and its subsidiary Rupantarita Prakritik Gas Company Ltd (RPGCL) on September 9.

"The visit of this team to Bangladesh is a follow-up to the visit of a high-powered Bangladeshi delegation to Qatar a couple of week ago," a senior official of the Energy and Mineral Resources Division (EMRD) under the Ministry of Power, Energy and Mineral Resources (MPEMR) told The Financial Express on Sunday.

Qatar had assured Bangladesh of all possible support in ensuring energy security, particularly amid the current challenging circumstances, during a meeting between Foreign Minister Khalilur Rahman and Qatar Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani in Doha, he said.

Describing Bangladesh as a brotherly country, the Qatari prime minister had assured the Bangladeshi delegation, also comprising state minister for the MPEMR Aninda Islam Amit, of extending all possible support to Bangladesh in ensuring energy security.

"QatarEnergy has been showing positive intentions to help Bangladesh in coming out of the energy crisis after the visit of the Bangladeshi delegation," says Petrobangla Chairman Md Abdul Mannan.

He told the FE that the Qatari company already had expressed intention to supply at least one LNG cargo soon and ensure smooth LNG supply from next year.

Sources have said supply halt of LNG by Qatar has been affecting Bangladesh badly as at least 70 per cent of Bangladesh-bound LNG delivery is currently being affected as a consequence.

According to S&P Global Energy CERA data, Bangladesh received about 60 per cent of its LNG-import requirements from Qatar in 2025.

Apart from QatarEnergy, several long-term and short-term suppliers, including OQ Trading International of Oman and US's Excelerate, also stopped supplying LNG to Bangladesh as they were to source it from Qatar, market insiders said.

Bangladesh is currently struggling to meet its gas demand amid elevated LNG prices and as contracted long-term LNG suppliers continue to restrict scheduled cargo deliveries, they said.

Due to disruptions to long-and short-term LNG supplies, Bangladesh is being compelled to rely more on volatile spot market to source LNG to mitigate potential shortages after supplies from the Middle East were restricted due to navigation disruptions through the Strait of Hormuz.

State-run Petrobangla is being compelled to buy LNG at over US$ 28 per million British thermal unit (MMBtu) to supply natural gas to industries, power plants, households and other gas-guzzling consumers.

If Qatar would supply LNG, the price would have less than half of spot market rates, even amid the current high price of energy on the international market with the Brent crude price hovering around US$96 per barrel.

The country's overall natural gas supply was about 2,334 million cubic feet per day (mmcfd) with 702mmcfd of regasified LNG, according to official Petrobangla data as of September 5.

Bangladesh's natural gas demand is around 4,000mmcfd, according to Petrobangla.

State-run Petrobangla has been rationing gas to industries, power plants and other consumers to cope with a supply shortage of natural gas.

The US trade deficit in July widened to its largest since March 2025, government data showed Thursday, as imports climbed on the back of the booming AI tech build-out.

US trade has seen wide fluctuations since President Donald Trump returned to the White House last year and rolled out sweeping tariffs on allies and competitors, in efforts to narrow the trade gap.
But the trade deficit in the world’s biggest economy grew to $88.6 billion in July -- a 24.4 percent increase from the month prior -- as exports of crude oil and gold fell while imports of tech products jumped.Exports dipped 2.1 percent to $310.7 billion, the Department of Commerce said.

Imports rose 2.8 percent to $399.3 billion, bolstered by computers, computer accessories and semiconductors.The US deficit with Taiwan, a major manufacturer of chips, reached a record $20.7 billion for the month.

The trade gaps with Mexico, Vietnam, Thailand, South Korea and Malaysia meanwhile also hit their highest on record.

While Trump’s tariffs have hit economies representing the majority of US trade, American officials have been careful to exempt products like chips, smartphones and other types of electronics.

Washington is looking to develop new tariffs on semiconductors, Commerce Secretary Howard Lutnick told CNBC Wednesday, adding that tech giants are aware of the Trump administration’s intent.

“What you’re going to see is targeted, thoughtful tariff policy that basically says if you build here, you don’t pay,” Lutnick said.

Over the past year, businesses have scrambled to step up imports before new waves of US duties kicked in.

Some firms expect further challenges in managing through Trump’s policies, which have caused business costs to rise, according to services sector survey data from the Institute for Supply Management. Activity in the sector jumped in August.

Although the US Supreme Court struck down many of Trump’s global tariffs in February, officials in July replaced them with fresh duties targeting 60 trading partners.

A separate trade investigation taking aim at 16 partners including China, the European Union and Taiwan, could lead to a further round of tariffs.

The United States meanwhile is engaged in a trade war with neighboring Canada, with which its deficit narrowed in July. Last month, Trump slapped a 50-percent duty on billions of dollars in Canadian goods, prompting Ottawa’s planned retaliation.

Also weighing on trade flows is fallout from the Middle East war, with Iran largely blocking off the Strait of Hormuz -- a key waterway for global energy and fertilizer transit.

The dollar jumped on Friday after data showed that US employers added 162,000 jobs in August, well above the 56,000 additions expected by economists, boosting bets on a September Federal Reserve interest rate hike.The dollar gave up some of its early gains, however, as US markets head into a three-day holiday weekend and as traders waited on next week’s inflation data.
Labor Day on Monday is a US public holiday.

August’s job gains followed an unexpected 23,000 job decline in July. The unemployment rate held steady at 4.1 percent.“I don’t think this number changes anything really,” said Noel Dixon, senior macro strategist at State Street, pointing ahead to next week’s inflation reading.

“It’s all going to boil down to what that core number is going to be next week and I think the markets are going to react accordingly.”

Economic data for August is seen as key to whether the Fed will hike at its September 15-16 meeting.

Fed Governor Christopher Waller said on Thursday that if upcoming data confirms inflation pressures are cooling off, he is inclined to argue in favor of keeping interest rates steady.

Producer price inflation data is due on Thursday and consumer price inflation data is scheduled for Friday next week.

Economists expect core CPI to ease to 2.4 percent on the year, from 2.5 percent in July.

Elements of Friday’s jobs data also supported slowing inflation, Dixon said.

“In today’s number the unemployment rate stayed steady but if you look at wages year over year, that’s the lowest since June 2021. So if Waller and (Fed Chairman Kevin) Warsh and (Fed Bank of New York President John) Williams, who I think are very influential, wanted to hang their hat on something, they could hang it on that,” Dixon added.

The manager of Norway's $2.3 trillion sovereign wealth fund has proposed significantly cutting its exposure to US Treasuries as part of ‌a wider shake-up of its bond investments to improve returns, according to a letter published this week.

Norges Bank Investment Management has recommended reducing its weighting to government bonds within its benchmark bond index to 50% from 70%, with US Treasuries, the biggest holding, getting the biggest cut, according to the letter.

The changes would mean cutting nearly $80 billion from the fund's current holdings of about $215 billion of US Treasuries as of the end of June, according to Reuters' calculations.

Government bond markets have been under pressure recently, with long-term borrowing costs soaring as rising inflation and government debt levels spooked investors.

Norway's sovereign wealth fund, the world's largest, owns on average 1.5% of ⁠all listed companies globally. Its scale means that portfolio decisions can influence broader market flows. Any cuts to its bond holdings are unlikely to be implemented until several months into 2027 at the earliest.

The letter containing the fund's proposals was sent in response to questions from Norway's finance ministry about the wealth fund's investment strategy for bonds.

Norges Bank IM said it would await the ministry's response, and any changes would be done gradually to limit market impact and transaction costs.

The proposals will form part of recommendations to the ministry in January. They will be discussed as part of the fund's annual white paper process next spring, after which the ministry will make a final recommendation to parliament which will then hold a hearing, a Norges Bank IM spokesperson said.

"We recommend that the government subindex of the bond index be reduced from 70% to 50%," Ida Wolden Bache, governor of Norges Bank, and Norges Bank IM CEO Nicolai Tangen wrote in the letter.

"A government share of 50% will be ‌sufficient to ⁠cover the liquidity needs, including in periods of turbulence in financial markets."

The fund also proposed considering an increase in investments in unlisted assets in a separate letter, in part as a way to reduce concentration risks that have grown in its equity portfolio amid the boom in the share prices of a handful of US tech companies.

Under its current mandate, the fund can own unlisted real estate and renewable energy assets, but it has a lower share of unlisted investments than comparable funds.

European Union’s Ambassador Michael Miller yesterday called on the government to ensure a level playing field in Biman Bangladesh Airlines’ aircraft purchase, as the government is set to buy Boeing planes over European rival Airbus.

Speaking at a press conference following a meeting on non-tariff barriers in trade between Bangladesh and the EU at the commerce ministry, he also said the bloc was ready to launch formal negotiations towards signing a Free Trade Agreement (FTA) soon.
In response to journalists raising the issue of Biman’s aircraft purchase, the EU envoy said Bangladesh should take “public procurement” decisions “on the basis of commercial merit”.

“Our economic operators are able to compete as best they can with the economic operators from any given country,” Miller said.

“Actually, to get the best value for your taxpayers’ money, in our view, Airbus has an incredibly competitive offer. It should be taken very seriously and we look forward to the very swift conclusion of negotiations between Airbus and Biman,” the ambassador added.

A prospective Airbus deal had gained traction in 2023 through high-level European engagement. Under the previous Awami League government, a decision to buy 10 Airbus planes had been announced, but the interim government shifted towards Boeing after Sheikh Hasina’s ouster in August 2024 and amid pressure over US tariffs.

Later, Biman signed a $3.7 billion deal with Boeing on April 30 to acquire 14 aircraft, concluding more than three years of competition between Boeing and Airbus for the airline’s next major fleet order. Days later, Airbus submitted a fresh proposal to sell Biman 10 aircraft, which Biman was reportedly evaluating.

FTA TALKS AFTER ‘VALIDATION’ FROM EU MEMBERS

Speaking on the signing of an FTA, Miller said Bangladesh has requested for talks regarding an FTA and an investment protection agreement with the EU.

The European Commission president has already told Prime Minister Tarique Rahman that the EU is ready to explore where the common ground exists for the FTA, according to Miller.

He said negotiations on both the FTA and an investment protection agreement would begin once EU member states complete a validation process expected later this week.

He said such agreements typically cover a wide range of areas beyond tariffs, including e-commerce, intellectual property protection, and trade and human rights.

On Bangladesh’s request for support on a three-year deferment of its Least Developed Country (LDC) graduation, Miller said the EU has been discussing the frictions in the relationship and the steps the government has taken or plans to remove them.

“At a moment when the international rules-based order is under incredible pressure, we are your reliable partners,” he said.

“We believe in the rule of law, we believe in fair and transparent procedures, we believe in multilateralism, all of which should be music to the ears of Bangladeshi colleagues, businessmen and citizens,” he added.

Meanwhile, Commerce Minister Khandakar Abdul Muktadir said Bangladesh has resolved 48 of 61 non-tariff barriers raised by the EU and is processing solutions for the remaining 13, after the EU flagged them in March.

A decision on Bangladesh’s request for LDC deferment is expected at the UN General Assembly’s 81st session later this month.

Talks to launch FTA negotiations may begin in the near future, he added.

The minister also mentioned two recent US purchases as examples of value-based procurement.

He cited an American company’s offer to supply 117 LNG cargoes through 2038 at an average price of around $9, based on index pricing, which the cabinet committee on government purchase approved.
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“We considered that to be a good offer, so we approved it,” he said,

The minister also cited wheat imports from the US. “Compared with wheat that we import from other sources, the percentage of wastage in that wheat is much lower. If you translate that into monetary value, it becomes more cost-effective.”

He said when it comes to making purchase decisions, instead of just considering the face value, several factors have to be taken into account, including overall savings, the long-term benefits.

“Whenever we make any purchase – from America, the European Union, or anywhere else, including China or India – we try to apply our best judgment based on the merits of each purchase individually,” the minister added.

Bangladesh has one of the highest costs for remittance transfers among the least developed countries (LDCs), with the average transaction cost of sending remittances to the country standing at 7-8 percent.

According to the latest global trade update by the United Nations Conference on Trade and Development (UNCTAD), Bangladesh was featured in a 2023 remittance transfer benchmark by the World Bank.

Bangladesh is one of the top 10 remittance-receiving countries in the world, thanks to millions of migrant workers, mainly in the Middle East, who send money home, helping the country meet much of its external payment needs.

The UNCTAD report said LDCs account for half of the countries with the highest remittance costs globally. Benin and Angola have the highest remittance transfer costs, while Lao PDR and Haiti have the lowest among LDCs.

“However, real progress has been made, particularly in Africa,” said the UNCTAD report, released on September 4.

Bangladesh is one of the top 10 remittance-receiving countries in the world, thanks to millions of migrant workers, who send money home, helping the country meet much of its external payment needs

The report said mobile money use among adults in sub-Saharan Africa rose from around 27 percent in 2021 to about 40 percent in 2024. The Pan-African Payment and Settlement System (PAPSS) is also helping to lower cross-border transaction costs and reduce reliance on offshore clearing.

UNCTAD said trade in digitally deliverable services is growing rapidly, but LDCs are not keeping pace.

It said that over the past decade, global services exports expanded by about 6.7 percent annually, outpacing goods exports, and increased by 8.3 percent in 2025.

“The expansion of digitally deliverable services (DDS) has been an important driver of this growth, enabled by the spread of digital platforms, cloud computing and improved connectivity in some regions,” it said.

DDS trade grew faster than total services, at an average annual rate of 7.1 percent, and now represents 56 percent of global services exports.

LDCs have benefited far less from this growth. Their services exports grew by only 3 percent annually over the same period, while their share of global services exports, already below 1 percent in 2010, declined further to just 0.6 percent in 2025.

Moreover, digitally deliverable services, which include telecommunications, computer services and professional consulting, now account for 56 percent of global services exports. In developed economies, DDS accounts for 61 percent of services exports, compared with only 16 percent in LDCs.

After 2020, LDC DDS exports showed very little progress, widening the gap with the rest of the world, said the report.

The UNCTAD report also highlighted “servicification” — the growing use of services as inputs across all sectors, such as logistics, finance, design and data management.

“Servicification has emerged as a key driver of economic diversification, structural transformation and participation in global value chains,” it said.

By 2022, services accounted for 71 percent of global intermediate inputs, ranging from 78 percent in developed economies to 61 percent in developing economies. In LDCs, services accounted for 58 percent of intermediate inputs.

UNCTAD said services represent 33 percent of intermediate inputs in industrial goods exports globally, but this drops to just 13 percent in LDCs, including Bangladesh.

“Services should be viewed not only as a sector in their own right but also as critical inputs into the production and export of goods. The quality, cost and availability of services directly affect competitiveness and participation in global value chains across all sectors,” it said.

The role of services in developing countries’ trade is often underestimated because the services embedded in goods exports are not adequately measured, it added.

“Unlocking the benefits of servicification, the growing use of services as inputs across all sectors, requires targeted action to strengthen data governance, digital infrastructure, regulatory frameworks and participation in trade negotiations, particularly for developing and least developed economies,” it added.

The UNCTAD report said services are reshaping global trade, but poor connectivity, costly cross-border payments and skills gaps continue to restrict participation by developing countries.

“Artificial intelligence may widen the gap because computing capacity, data, finance and expertise remain concentrated in a few economies.”

The report also flagged sluggish progress in multilateral rules on digital trade. It said divergent provisions in regional and bilateral agreements have increased regulatory complexity.

“Developing countries need better data, stronger digital infrastructure and greater capacity to shape emerging rules.”

The Bangladesh Bank (BB) has increased the annual foreign exchange travel entitlement for Bangladeshi nationals to $18,000 from $12,000, aiming to facilitate genuine travel-related foreign exchange requirements.

In a circular yesterday, the BB allowed authorised dealers (ADs) -- commercial banks permitted to handle foreign exchange transactions -- to release foreign exchange of up to $18,000, or the equivalent amount, per calendar year to an adult Bangladeshi national residing in the country for travel abroad.

The decision has been taken with a view to facilitating genuine travel-related foreign exchange requirements of Bangladeshi nationals and considering the evolving needs of international travel, said the central bank. The entitlement for minors below 12 years of age will remain at 50 percent of the amount admissible for adults.

The BB has also retained the existing restriction on the release of foreign exchange in the form of US dollar notes. Cash dollar releases will remain capped at $5,000 per person, within the applicable annual travel entitlement.

The move is expected to provide greater flexibility to Bangladeshi travellers in meeting legitimate expenses related to overseas travel, including tourism, family visits and other permissible purposes, said a senior BB official.

Bangladesh's gross foreign exchange reserves have reached $36.38 billion, underscoring a cautious stabilisation of the country's external finances.

According to data released by Bangladesh Bank, reserves calculated under the International Monetary Fund’s rigorous manual (BPM6) stood at $31.47 billion on Sunday.

The current reserve position points to a steady accumulation of foreign currency, driven largely by remittance inflows and export receipts.

While global commodity pricing and debt servicing continue to test the economy, $31.47 billion usable reserves provide the central bank with headroom to manage exchange rate volatility.

Even at the higher end of the import bill ($6.5 billion per month), the BPM6 reserves provide about 4.8 months of cover.

This remains above the IMF’s standard minimum safety threshold, which recommends maintaining at least three months of import coverage to absorb external economic shocks.

Singapore-based global hospitality giant, The Ascott Limited is eyeing Bangladesh as a potential growth market and is open to partnering with local property owners to bring its international hotel and serviced-residence brands to the country.

"Bangladesh is a market we are watching closely as part of our growth strategy in South Asia. The combination of business and leisure demand in destinations such as Dhaka, Chattogram and Cox's Bazar makes it a promising market for Ascott," an Ascott spokesperson told The Business Standard via email following an in-person conversation in Singapore.

The company, however, does not have any confirmed project to announce in Bangladesh at this stage. "While we don't have confirmed plans to share at this stage, we remain open to exploring partnerships with like-minded property owners to bring our brands and concepts."

Ascott's interest comes as Bangladesh's hospitality market continues to see demand from business travellers, tourists, expatriates and long-stay visitors, particularly in Dhaka and major tourism destinations such as Cox's Bazar.

"That demand profile is well suited to our flex-hybrid business model, which caters to different traveller needs, from short business and leisure stays to extended stays and relocation," the spokesperson said.

Asset-light expansion strategy

Unlike a conventional property investment model, Ascott primarily expands through management and franchise partnerships, allowing property owners and investors to develop or convert properties under its international brands without requiring Ascott to make the entire capital investment itself.

Ascott's growth as a global company is asset-light by design, driven by management and franchise partnerships rather than direct capital investment, the company said. Under this model, Ascott brings its hospitality expertise, operating systems and brands, while property owners can benefit from international management and distribution networks.

Across serviced residences, hotels, resorts, social-living properties and branded residences, the company works with property owners to address demand gaps, create distinctive guest experiences and generate long-term value.

Bangladesh fits its brand portfolio

Ascott has a diverse portfolio of brands covering the upper-midscale, upscale and luxury segments, giving property owners flexibility to target different categories of travellers.

Its brands include Ascott, Citadines, lyf, Oakwood Premier, Oakwood, Somerset, The Crest Collection, The Unlimited Collection, Adoor Apartment, Adoor Suites, Fox, Harris, POP!, Preference, Quest, Vertu and Yello.

The Ascott Limited is a wholly owned business unit of CapitaLand Investment Limited.

The company currently has more than 1,000 properties across over 230 cities in more than 40 countries, with a presence spanning Asia Pacific, Central Asia, Europe, the Middle East, Africa and the US. In South Asia, Ascott has 27 properties, mainly in India.

The general manager of a five-star hotel in Dhaka's Gulshan area told TBS, "The business model followed by global hospitality chains like Ascott is well-suited to Bangladesh. Local businesses are also looking for such opportunities to partner with global chains."

Bangladesh's first tourism master plan aims to attract 5.57 million foreign tourists by 2041. In recent years, Bangladesh has drawn over 0.6 million foreign passport holders annually.

Sustainability becomes growth priority

During a recent visit by a group of journalists from across Asia, including this correspondent, to three Ascott properties in Singapore, the company showcased how sustainability and innovation are being incorporated into its hospitality operations.

Siew Kim Beh, chief financial and sustainability officer at Ascott, said sustainability is being implemented across its properties in different ways.

"Across our properties, sustainability comes to life in different ways: from AI-powered cooling optimisation for energy efficiency and more accessible guest journeys for persons with disabilities, to initiatives that encourage guests to make more sustainable choices during their stay," she said.

At lyf Funan Singapore, the company showcased some of these initiatives, including a farm-to-table tea tasting using ingredients grown on the property's rooftop farm.

Ascott launched Ascott CARES, its global sustainability framework, in 2022. The framework is built around the Global Sustainable Tourism Council (GSTC) Standards and integrates environmental, social and governance (ESG) considerations into the company's operations and growth strategy.

Since then, Ascott has achieved GSTC-Committed Status, expanded GSTC certification across its portfolio and established science-based climate targets, including a target of net-zero Scope 1 and 2 emissions by 2050.

The European Union has called for a level playing field for its businesses and investors in Bangladesh, highlighting the proposed purchase of Airbus aircraft as an example, as Dhaka reported progress in resolving trade barriers raised by the bloc.
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An EU delegation raised the issue with ministers and senior officials at a meeting at the Ministry of Commerce on Sunday, when the Bangladesh side briefed 27 EU representatives on progress in addressing the non-tariff barriers (NTBs).

The two sides also discussed a free trade agreement and EU support for Bangladesh's request to defer its LDC graduation.

"We have so far addressed 48 of the 61 identified non-tariff barriers (NTBs), while 13 remain at various stages of resolution," Commerce Minister Khandakar Abdul Muktadir told a joint press briefing following the meeting.

The two sides also discussed a free trade agreement and EU support for Dhaka's request to defer its LDC graduation.

State Minister for Planning Jonaed Abdur Rahim Saki, Ambassador and Head of the EU Delegation to Bangladesh Michael Miller, NBR Chairman Ahsan Habib and Commerce Secretary Md Ataur Rahman Khan were also present at the press briefing.

Adviser to the Ministry of Finance and Planning Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Shama Obaed, Finance Secretary Md Khairuzzaman Mozumder and senior officials from the ministries of commerce and foreign affairs were present at the meeting with the EU delegation.

The commerce minister said Bangladesh had already resolved 48 of the 61 trade barriers identified by the EU, while the remaining 13 were at different stages of resolution.

He said the government had worked with several ministries and agencies, including the National Board of Revenue (NBR) and the ministries of agriculture, fisheries and livestock, and shipping, to address the EU's concerns over the NTBs.

The minister said Bangladesh was also preparing to begin negotiations with the EU for a free trade agreement (FTA), describing the issue as strategically important as the EU is Bangladesh's largest export market.

He also sought EU support for Bangladesh's request to defer its LDC graduation by three years.

Bangladesh has already secured recommendations from the UN Committee for Development Policy (CDP) and the Economic and Social Council (ECOSOC), and the matter is expected to be placed before the 81st session of the UN General Assembly, he said.

"EU support is very important for us in this process," he said, adding that strong support from the European Union would play an important role for Bangladesh.

Explaining some of the measures taken to remove the trade barriers, he said restrictions on the renewal of licences for 100-per-cent foreign-owned logistics companies had been removed.

The annual limit for the import of samples by exporters and businesses had also been doubled to $20,000 from $10,000 through the latest Import Policy Order, he added.

The government had also revised the customs valuation of smart cards used for product traceability, introducing two categories based on their actual value instead of applying duties to an artificially higher value, according to the minister.

However, the requirement to obtain a government no-objection certificate (NOC) 15 days before importing or exporting goods under the country's flag-vessel protection law remains unresolved.

The law requires 50 per cent of Bangladesh's imports and exports to be carried by Bangladeshi-owned vessels.

The minister said Bangladesh currently had around 122 vessels, including seven operated by Bangladesh Shipping Corporation and about 115 privately owned vessels, which were insufficient to carry half of the country's roughly $130 billion annual two-way trade.

He said the government would seek to resolve the issue by amending the relevant law.

EU envoy Michael Miller said the EU wanted to further deepen economic and political relations with Bangladesh.

He stressed the need to ensure a level playing field for EU businesses and investors operating in Bangladesh, citing the proposed purchase of Airbus aircraft as an example.

He also highlighted the first round of negotiations on a Bangladesh-EU FTA as an important step in strengthening bilateral economic ties.

The EU ambassador called for greater cooperation in areas including border management, intellectual property rights and human rights.

Replying to questions on Bangladesh's trade relations with the United States, the commerce minister said the government evaluated purchases from different countries on their own merits, rather than solely on the basis of headline prices.

He cited Bangladesh's planned purchase of LNG from a US company as an example, saying the company had offered 117 cargoes through 2038 at an average price of around $9 per unit, based on the index applicable when the cabinet committee approved the deal.

He also said Bangladesh imported wheat from the US because its wastage rate was lower than that of wheat sourced from some other countries, making it economically beneficial when the full cost was considered.

"We try to apply our best judgement based on the merits of each purchase, whether it is from the US, the EU, China, India, or elsewhere," he said.

The EU is Bangladesh's largest trading partner, with bilateral trade in goods reaching €23.3 billion in 2025.

Currently, Bangladesh enjoys a substantial trade surplus with the bloc, largely driven by garment exports. The EU imported nearly 94 per cent of its goods from Bangladesh in textiles in 2025.

As an LDC, Bangladesh currently enjoys duty-free and quota-free market access to the EU under the Everything But Arms (EBA) scheme, a key advantage for the country's export-oriented economy.