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An Evaluation of the Trade Relations of Bangladesh with ASIAN Justification of being a future member

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SunnaChowdhury
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An Evaluation of the Trade Relations of Bangladesh with ASIAN Justification of being a future member

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  1. An Evaluation of the Trade Relations of Bangladesh with ASEANJustification of being a future member Mohammed Shahidul Islam IftekharUddin Ahmed Chowdhury Europian journal of business and management.

  2. Introduction • Bangladesh has had a good trade relationship with NAFTA and EU but due to some recent issues she needs to reduce dependency on west and concentrate on developing her trade relations with other organizations and countries. • Objective: • 1.Analyzing trade performance of Bangladesh with ASEAN (The Association of South East Asian Nation) • 2. Providing some policies for the development of trade performance.

  3. Literature Review: • Panini(2010) in her paper ‘Institutionalizing linkage between ASEAN and Bangladesh challenges and prospects ‘said that “ Bangladesh ‘s moderate economic growth is intertwined with economic liberalization and can strengthen ASEAN-Bangladesh relation.” • Nag (2005) in his paper ‘Trade cooperation and performance in east and south Asia :toward a future integration’ said emphasizing on bigger economies can lead toward further trade liberalization. • Alom in his paper(2005) ‘ Bangladesh’s Engagement with ASEAN: Retrospect and prospect ‘said that Bangladesh’s engagement with East Asia can be beneficial to the country and may increase mutual cooperation.

  4. Methodology: Data sources: 1.Foreign Ministry of Bangladesh. 2. Bangladesh Bank. 3.Bangladesh bureau of Statistics. 4.Export promotion bureau of Bangladesh. • Methods: Statistical.(Mean, covariance, hypothesis) • Paper has been analyzed with different financial and statistical method

  5. Findings: • 1. Bangladesh is mostly dependent on west for export .The average percentage is 86%. • 2.The growth rate of export is increasing positively but with fluctuation. The average rate of growth for export is 16%.The average percentage of export is 1.6%. • 3.The percentage of import is slightly decreasing but is steady. The average growth rate of import from ASEAN countries to Bangladesh is 18%. The average percentage of import is 16%. • 4.Bangladesh faced a trade deficit with ASEAN over decades. The deficit in trade was 27333.91 crore in 2009-10. The average growth rate of trade deficit is 18%. • 5.Import performance is better than export performance.

  6. Recommendations: 1.Bangladesh has to develop bilateral trade relations with ASEAN. 2.Bangladesh needs to develop new policies for improving her trade performance with ASEAN. 3.Bangladesh has to work on her export performance. 4. Bangladesh needs more researches and studies for improving the efficiency . 5. Bangladesh needs more lobbying to become a member of ASEAN to improve the trade relation with ASEAN.

  7. Conclusion: • The paper aims to draw attention towards reducing dependency on west and developing trade policies and performance with ASEAN countries. • Notes: • The average Export import ratio of Bangladesh with ASEAN is 0.06 but with whole world is 0.57.

  8. References: • Alom, Md. Morshed (2005). Bangladesh’s Engagement with ASEAN: Retrospect and Prospect. • B. Nag. (2005). Trade Cooperation and Performance in East and South Asia: Towards a Future Integration. • Panini (2010). Institutionalizing linkage between ASEAN and Bangladesh challenges and prospects. • Bangladesh Bank Statistics Department (2005). Annual Export Receipts: 2004-2005, Dhaka. • Bangladesh Bank Statistics Department. (2005). Annual Import Payments: 2004-2005, Dhaka.

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