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The economy of Bangladesh is a major developing market economy. As the second-largest economy in South Asia, Bangladesh's economy is the 33rd largest in the world in nominal terms, and 25th largest by purchasing power parity. Bangladesh is seen by various financial institutions as one of the Next Eleven. It has been transitioning from being a frontier market into an emerging market. Bangladesh is a member of the South Asian Free Trade Area and the World Trade Organization. In fiscal year 2021–2022, Bangladesh registered a GDP growth rate of 7.2% after the global pandemic. Bangladesh is one of the fastest growing economies in the world.
The foreign relations share the Bangladeshi government's policies in its external relations with the international community. The country pursues a moderate foreign policy that places heavy reliance on multinational diplomacy, especially at the United Nations and World Trade Organization (WTO). Since independence in 1971, the country has stressed its principle of "Friendship towards all, malice towards none" in dictating its diplomacy. As a member of the Non-Aligned Movement, Bangladesh has tended to not take sides with major powers. Since the end of the Cold War, the country has pursued better relations with regional neighbours.
Bangladesh Export Import Company Limited, commonly known by its trade name BEXIMCO, is a Bangladeshi multinational conglomerate holding company, headquartered in Dhaka, Bangladesh. It was founded in the early 1970s.
Beximco Pharmaceuticals Ltd also known as Beximco Pharma, is a pharmaceutical company in Bangladesh. It is a part of Bangladesh Export Import Company Limited (BEXIMCO).
The textile and clothing industries provide a single source of growth in Bangladesh's rapidly developing economy. Exports of textiles and garments are the principal source of foreign exchange earnings. By 2002 exports of textiles, clothing, and ready-made garments (RMG) accounted for 77% of Bangladesh's total merchandise exports. Emerging as the world's second-largest exporter of ready-made garment (RMG) products, Bangladesh significantly bolstered employment within the manufacturing sector.
Bangladesh-United States relations are the bilateral relations between the People's Republic of Bangladesh and the United States of America. For the United States, Bangladesh is the 38th largest goods supplier and 60th largest export market. For Bangladesh, the United States is the largest export market. The two countries signed a bilateral investment treaty in 1986. U.S. companies are the largest foreign investors in Bangladesh. The U.S. government is the leading contributor of humanitarian assistance in response to the Rohingya crisis. Both nations have announced similar views for a Free and Open Indo-Pacific. Bangladesh has nurtured amicable relationships with all nations, prioritizing the enhancement of the socio-economic well-being of its people.
The Bangladeshi Malaysians consists of people of full or partial Bangladeshi descent who were born in or immigrated to Malaysia. Bangladeshis in Malaysia form a large proportion of Malaysia's foreign labour force. Their population was estimated to total 221,000 persons, roughly one-eighth of all the foreign workers in Malaysia as of 2017. In early 2016, a controversial agreement by Bangladeshi Prime Minister Sheikh Hasina was signed to send a total of 1.5 million Bangladeshi workers in stages for 3 years to Malaysia. This decision was met with criticism from both individuals in government and the general Malaysian public and was quickly revoked.
Malaysia has a high commission in Dhaka and Bangladesh has a high commission in Kuala Lumpur. Both nations are members of the Commonwealth of Nations, the Organisation of Islamic Cooperation, the Developing 8 Countries and the Non-Aligned Movement. Malaysia was one of the first countries to recognise the independence of Bangladesh in 1971.
The Bangladeshi diaspora are people of Bangladeshi birth, descent or origin who live outside of Bangladesh. First-generation migrants may have moved abroad from Bangladesh for various reasons including better living conditions, to escape poverty, to support their financial condition, or to send money back to families there. The Ministry of Expatriates' Welfare and Overseas Employment estimates there are 13 million Bangladeshis living abroad, the fourth highest among the top 20 countries of origin for international migrants. Annual remittances transferred to Bangladesh were almost $22.1 billion in 2021, the seventh highest in the world and the third highest in South Asia.
Bangladesh Association of International Recruiting Agencies (BAIRA) is an association of recruiting agencies of migrant workers in Bangladesh. It has approximately 700 member agencies and works in collaboration with the Government of Bangladesh.
Salman Fazlur Rahman is a Bangladeshi businessman, adviser to the Prime Minister of Bangladesh, and a member of the Jatiya Sangsad. Currently, he is holding the rank of a cabinet minister and serving as the Private Industry and Investment Adviser to Bangladesh Prime Minister Sheikh Hasina. Earlier, he served as the private sector development affairs adviser to her. He was ranked 1685th on the list of billionaires in the world published by Beijing-based Hurun Gobal in 2017. He is the vice chairman of BEXIMCO Group, one of the largest conglomerates in Bangladesh. He was the president of several trade bodies including Association of Television Channel Owners (ATCO).
Bangladesh–Fiji relations refer to the bilateral relations between Bangladesh and Fiji. Fiji recognized Bangladesh on January 31, 1972, and diplomatic relations between the two countries were officially established in 2003. Both countries are common members of the Commonwealth of Nations. In 2013, the Foreign Minister of Bangladesh urged the Fijian government to steer the country towards democracy.
Bangladesh–Turkey relations are the bilateral relations between Bangladesh and Turkey. Both countries are members of the Organisation of Islamic Cooperation. Turkey has an embassy in Dhaka and Bangladesh has an embassy in Ankara and a consulate in Istanbul.
Bangladesh–Poland relations refer to the bilateral relations between Bangladesh and Poland. Poland was the sixth country to recognize Bangladesh. Diplomatic relations between the two countries were officially established on 12 January 1972. The Polish ambassador to India, who is resident in New Delhi, is also accredited to Bangladesh. Bangladesh has an embassy in Warsaw.
PRAN-RFL Group is a Bangladeshi conglomerate, founded in 1981 by Amjad Khan Chowdhury. The company is known for its diversified business portfolio, including food and beverage, plastic products, and agricultural machinery. It is one of the largest conglomerates in Bangladesh, with a presence in more than 145 countries. Pran-RFL Group is headquartered in Dhaka, Bangladesh, and employs over 140,000 people worldwide. The group operates under several subsidiaries, including Pran Foods, RFL Plastics, Pran-RFL Healthcare, and many others.
Bangladesh and Israel do not maintain diplomatic relations. Bangladesh said that it will not recognize Israel until there is an independent Palestinian state. Some reports have alleged that Bangladesh and Israel maintain some trade relations indirectly and sometimes secretly, although the government denies these allegations.
Bangladesh–Italy relations relate to the foreign relationship between Bangladesh and Italy. Bangladesh maintains its embassy in Rome while Italy has an embassy in Dhaka.
Mohammad Fazlul Azim is a Bangladeshi industrialist, business magnate and former politician. He is the chairman of Azim Group, a leading industrial conglomerate and exporter in Bangladesh with business concerns in Garments, Steel, Engineering, Agro and various other sectors. He last served as an independent member of parliament of the Jatiya Sangsad. Azim was the only independent lawmaker in the parliament during the 9th Jatiya Sangsad. He also served in the parliament from the Bangladesh Nationalist Party.
Bangladesh–Qatar relations refer to the bilateral relations between Bangladesh and Qatar. Both countries are members of the Organisation of Islamic Cooperation.
Bangladesh–Iraq relations refer to the bilateral relations between Bangladesh and Iraq. Bangladesh has an embassy in Baghdad. Iraq has an embassy in Dhaka. Mohammad Fazlul Bari is the Ambassador of Bangladesh to Iraq.
References
- 1 2 "HomePage". www.boesl.org.bd. BOESL. Archived from the original on 18 November 2016. Retrieved 24 November 2016.
- ↑ "KSA wants to hire doctors". The Daily Star. 24 November 2016. Retrieved 24 November 2016.
- ↑ "How migration benefits one, harms another". The Financial Express. Dhaka. Retrieved 24 November 2016.
- ↑ "Report: Bangladeshis earn 200% more when abroad". www.dhakatribune.com. 28 April 2023. Retrieved 4 May 2023.
- ↑ "Bangladesh fails to seize job scopes in Japan". Dhaka Tribune. Archived from the original on 25 November 2016. Retrieved 24 November 2016.
- ↑ "JS body for sending workers to Malaysia thru G2G plus process". The Financial Express. Dhaka. Retrieved 24 November 2016.
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