The European Union signed the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration

28/07/2024 | | Dispute Resolution, International, Investment

Summary:  On July 2, 2024, at UN Headquarters in New York, the European Union signed the United Nations Convention on Transparency in Treaty-based Investor-State Arbitration, also known as the "Mauritius Convention on Transparency". The European Union's signature on the Convention creates the opportunity for Member States to ratify, accede to, or accept it. The signing coincides with the 10th-anniversary celebration... Read More

Reappointment as Delegate to the ICC Commission on Arbitration & ADR (2024-27)

13/07/2024 | | Arbitration, International, Recognition

Note from our esteemed Head of Chambers: I am thrilled to announce that I have been re-appointed for a second time as a delegate to the ICC Commission on Arbitration and ADR for the 2024-2027 mandate by ICC BANGLADESH. This prestigious role within hashtag#ICCCommissionArbitrationADR is an incredible opportunity to contribute to ICC Disputes Resolution Services’ unique think tank, enabling thought... Read More

Foreign Investors Continue to Sell Shares

23/06/2024 | | Capital Market, International, Investment

Summary: Due to the unfavorable economic forecast, frequent devaluations of the local currency relative to the US dollar, and unstable policy, net foreign portfolio investment in Bangladesh decreased during the July–March fiscal year 2023–2024. In 2020, foreign investors began selling their shares because they thought there might be huge devaluations of the local currency. According to Bangladesh Bank data, over... Read More

Supplementary Duty and Regulatory Duty on Nearly 300 Items May Go

22/06/2024 | | International, Taxes & Finance

Summary:  In the upcoming fiscal year, import duties on around 300 items might be combined in anticipation of Bangladesh becoming a middle-income nation, which requires tariff rationalization. Revenue Board officials have stated that the budget for the 2024–25 fiscal year will waive regulatory duties (RD) on 91 imports and supplementary duty (SD) on approximately 191 imports. Ten products may be... Read More

Bangladesh’s Trade with SAARC Countries Falls in FY23

22/06/2024 | | Commercial, International, Taxes & Finance

Summary: Trade between Bangladesh and the South Asian Association for Regional Cooperation (SAARC) members is decreasing, both in terms of imports and exports. A Bangladesh Bank report released on 2nd June 2024 states that the SAARC members' total export revenue dropped by nearly 1%, from USD 1.93 billion in FY22 to USD 1.91 billion in FY23. Exports to India and... Read More

China filed a Complaint at the World Trade Organization over the U.S.’s Inflation Reduction Act, saying it was discriminatory and distorted fair competition. 

01/06/2024 | | Corporate, Dispute Resolution, International

Summary:  China complained against the U.S. Inflation Reduction Act to the World Trade Organization, claiming it was unfair and obstructed fair competition. President Biden signed the Inflation Reduction Act into law in August 2022. As a result, starting in 2024, American consumers who purchase automobiles with battery components from a "foreign entity of concern" will not be eligible for the... Read More

Belgium and the European Union sign the “Beijing Convention on the Judicial Sale of Ships”

01/06/2024 | | Commercial, International, Shipping

Summary: On March 14, 2024, at the UN Headquarters in New York, Belgium and the European Union signed the United Nations Convention on the International Effects of Judicial Sales of Ships, often known as the "Beijing Convention on the Judicial Sale of Ships". The European Union complies with Article 18 by signing. In compliance with the convention's Article 18, the... Read More

New ICC Hearing Centre unveiled

01/06/2024 | | Arbitration, Dispute Resolution, International

Summary:  Information about the reopening of ICC's Hearing Center in Paris has been made public. The 17th arrondissement's rue Legendre will house the ICC Hearing Center. It will have two sets of hearing and breakout rooms spread out over one level, with the option to add a third to accommodate overflow. The cutting-edge facilities are set up to offer first-rate... Read More

Formal negotiations for an EPA between Bangladesh and Japan for a post-LDC 2026.

01/06/2024 | | Finance, Commercial, International

Summary In order to secure the continuation of duty-free export facilities after Bangladesh leaves the list of least developed countries, and to attract more investment from the world's fourth-largest economy, Japan and Bangladesh have decided to formally start negotiations for the signing of an Economic Partnership Agreement (EPA) by 2026. In an effort to sign the EPA, Bangladesh and Japan... Read More

Extension granted until 2029 to enjoy duty-free as WTO member amidst challenges

05/03/2024 | | Commercial, Corporate, International

Summary: At the 13th WTO Ministerial Conference in Abu Dhabi, Bangladesh successfully negotiated a three-year extension of duty-free market access following its graduation to a developing nation in 2026. Supported by 166 WTO members, this extension ensures continued access to LDC-specific technical assistance and capacity-building programs. The negotiations, spanning over five days, addressed concerns over potential trade losses post-graduation, exacerbated... Read More

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