The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation in the United Nations System, governments use the organization to establish, revise, and enforce the rules that govern international trade. It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade (GATT) that had been established in 1948. The WTO is the world's largest international economic organization, with 164 member states representing over 98% of global trade and global GDP.
The economy of Bangladesh is a major economy of South Asia and a developing market economy. As the second-largest economy in South Asia, Bangladesh's economy is the 35th 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, an emerging market, a middle income economy, and a frontier 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.
The Office of the United States Trade Representative (USTR) is an agency of the United States federal government responsible for developing and promoting American trade policy. Part of the Executive Office of the President, it is headed by the U.S. Trade Representative, a Cabinet-level position that serves as the U.S. President's primary advisor, negotiator, and spokesperson on trade matters. USTR has more than two hundred employees, with offices in Geneva, Switzerland, and Brussels, Belgium.
Jute is a long, soft, shiny bast fiber that can be spun into coarse, strong threads. It is produced from flowering plants in the genus Corchorus, which is in the mallow family Malvaceae. The primary source of the fiber is Corchorus olitorius, but such fiber is considered inferior to that derived from Corchorus capsularis. "Jute" is the name of the plant or fiber used to make burlap, hessian, or gunny cloth.
Kenaf [etymology: Persian], Hibiscus cannabinus, is a plant in the family Malvaceae also called Deccan hemp and Java jute. Hibiscus cannabinus is in the genus Hibiscus and is native to Africa, though its exact origin is unknown. The name also applies to the fibre obtained from this plant. Kenaf is one of the allied fibres of jute and shows similar characteristics.
Hemp or industrial hemp is a strain of the Cannabis sativa plant grown specifically for the industrial uses of its derived products.
The jute trade is centered mainly around India's West Bengal and Assam, and Bangladesh. The major producing country of jute is India and biggest exporter being Bangladesh, due to their natural fertile soil. Production of jute by India and Bangladesh are respectively 1.968 million ton and 1.349 million metric ton. Bengal jute was exported to South East Asia from the 17th century by the Dutch, French and later by other Europeans.
Corchorus capsularis, commonly known as white jute, is a shrub species in the family Malvaceae. It is one of the sources of jute fibre, considered to be of finer quality than fibre from Corchorus olitorius, the main source of jute. The leaves are used as a foodstuff and the leaves, unripe fruit and the roots are used in traditional medicine.
An employers' organization or employers' association is a collective organization of manufacturers, retailers, or other employers of wage labor. Employers' organizations seek to coordinate the behavior of their member companies in matters of mutual interest, such as during negotiations with trade unions or government bodies. Employers' organizations operate like trade unions and promote the economic and social interests of its member organisations.
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.
Leslie Allen Wheeler (1899–1968) was a U.S. Government official and diplomat whose efforts contributed to broad liberalization of international trade in agricultural products, creation of the International Wheat Council, and creation of the Food and Agriculture Organization of the United Nations.
The Accord on Fire and Building Safety in Bangladesh was signed on 24 April 2013. It is a five-year independent, legally binding Global Framework Agreement between global brands, retailers and trade unions designed to build a safe and healthy Bangladeshi Ready Made Garment (RMG) Industry. The agreement was created in the immediate aftermath of the Rana Plaza building collapse that led to the death of more than 1100 people and injured more than 2000. In June 2013, an implementation plan was agreed leading to the incorporation of the Bangladesh Accord Foundation in the Netherlands in October 2013.
Bangladesh–Cambodia relations refer to the bilateral relations between the countries of Bangladesh and Cambodia.
Bangladesh–Yemen relations are the bilateral relations between Bangladesh and Yemen. In 2014 Mohammad Ashab Uddin was named Bangladeshi ambassador to Yemen.
Bangladesh–Mali relations refer to the bilateral relations between Bangladesh and Mali.
Bangladesh–Nigeria relations refer to the bilateral relations between Bangladesh and Nigeria. Bangladesh has an embassy in Abuja. Nigeria had an embassy in Dhaka but is now closed. Nigeria is represented by a non resident ambassador in New Delhi. Both Bangladesh and Nigeria are members of international organizations including the Organisation of Islamic Cooperation and Developing 8 Countries.
Bangladesh–Brazil relations refer to the bilateral relations between Bangladesh and Brazil. Bangladesh has an embassy in Brasillia and Brazil has an embassy in Dhaka.
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.