Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Wednesday, September 20, 2017 04:34:56 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

NZ based leading company proposes to invest in BD

Local dairy sector to see a big boost

By
10th-Jan-2017       
Comments
Share your thought
Post a comment »
Read all () »

Mohammed Badrul Ahsan :
A New Zealand based leading multinational dairy company -- Fonterra Co-operative Group Limited has expressed their interest to invest in the country's dairy sector, a high official of concern ministry said.
Fisheries and Livestock minister during his visit to New Zealand last year got the proposal from Fonterra for investment in the country's dairy sector.  
To this effect, top officials of Fonterra visited Dhaka last month and submitted a proposal in this regard to the government requesting to arrange a government to government meeting (G to G) between Bangladesh and the New Zealand.  
Board Director of Fonterra Co-operative Group Limited John Monaghan led the delegation.
Fonterra Co-operative Group Limited owned by 13000 New Zealand dairy farmers and the world's largest exporter of dairy products.
"During the visit, the Fonterra delegation had discussed the investment proposal with the fisheries and livestock minister Muhammed Sayedul Hoque," an official of the ministry, who is involved with the process told the New Nation preferring anonymity.
"They are highly satisfied with the investment potential in the dairy sector of Bangladesh," the official said.
 "The Fonterra has already sent a proposal to invest in Bangladesh's dairy sector considering its potential. If everything goes accordingly then the investment of Fonterra would reshape the landscape of local dairy sector," he added.
He said that the Fonterra officials have asked the ministry to arrange a meeting between Bangladesh and New Zealand governments for a detailed discussion on finalising the investment proposal.  
However, according to the high official of the ministry, the government has started the process of finalising investment proposal from New Zealand's dairy giant.
As part of the process, the ministry of fisheries and livestock (MoFL) sent a letter to the Economic Relations Division (ERD) to arrange a government-level discussion between Bangladesh and New Zealand to expedite the investment in the local diary industry.
"We have sent a letter to the ERD requesting them to arrange discussion between Bangladesh and New Zealand for finalising the investment proposal," another senior ministry official said.
Meanwhile, trade between Bangladesh and New Zealand is undergoing a healthy growth, though the trade balance is largely tilted toward Wellington. Bangladesh enjoys duty-free market access to New Zealand.
Bangladesh's major exports to New Zealand are woven garments, which constitute 66.9 per cent of total shipment, while woolen garments represent 20.8 per cent, jute products 6.8 per cent, hats 2.5 per cent and miscellaneous garment accessories 1.4 per cent.
New Zealand's main exports to Bangladesh are milk powder, which is 90 per cent of the total shipment, while electrical equipment constitutes 2.9 per cent and waste steel 2.0 per cent and fruits 1.4 per cent.
Bangladesh exported goods worth US$ 40.90 million to New Zealand between June 2014 and April 2015, which was $ 40.65 million during the fiscal year 2013-14, according to the Export Promotion Bureau (EPB).    
Fonterra is a global, co-operatively-owned company with its roots firmly planted in New Zealand.
It accounts for more than 25 per cent of New Zealand's export.  
It employs 16,000 people in New Zealand and elsewhere in the world working to make dairy available to millions of consumers in 140 countries every day.
Fonterra produces more than two million tonnes of dairy ingredients, specialty ingredients and consumer products each year.
About 95 per cent of these are exported to a world wanting more and more of the nutritional benefits we offer.
The company has 30 manufacturing sites across the country and processes about 16 billion litres of New Zealand's farmers' milk each year. It has operates in more than 100 countries across the world.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Our inactive diplomacy is deplorable : We shall need armed support


IT'S almost a month since Myanmar has started to push Rohingya Muslims illegally into Bangladesh; creating a burden for an economically weaker country like ours. Our government waiting eagerly for the international power houses to act quickly and solve the problem for us. But all our so-called proven friends like ...

Entertainment »

Antora Azim`s web series Basic Ali


Sheikh Arif Bulbon :Few years ago, Antora Azim started her acting career through Adnan Al Rajib’s a play titled Middle Class Sentiment. Under his direction Antora also performed as a model in a TV commercial of Banglalink. Later she took break from media for her study. She again started shooting ...

Entertainment »

Bhoomi item song by Sunny Leone faces Censor scissors - fans to face disappointment


The Censor Board always has a last laugh because of the immense powers vested with it. And with power comes responsibility. The Central Board of Film Certification is a statutory censorship and classification body under the Ministry of Information and Broadcasting, Government of India. Bhoomi has been at the receiving ...

City »

BNP Standing Committee Member Amir Khasru Mahmud Chowdhury, among others, at a discussion on `Bangladesh`s Position in Rohingya Crises` organised by Bangladesh Youth Forum at the Jatiya Press Club on Tuesday.


International »

Trump expresses his hopes for peaceful settlement to ME crisis


AFP, United Nations :US President Donald Trump again expressed his hopes for a peaceful settlement to the Middle East crisis Monday as he met Israel's Prime Minister Benjamin Netanyahu.Netanyahu was the first leader to have a one-on-one with Trump at the US president's first United Nations General Assembly, an annual ...

International »

Hong Kong leader demands end of independence talk


Reuters, Hong Kong  :Hong Kong's leader urged an immediate end to independence debates in the Chinese-ruled global financial hub on Tuesday, warning that the issue was harming the city's relationship with Beijing's Communist Party leaders.Insisting that the government did not want to intervene on university campuses, Chief Executive Carrie Lam ...

Sports »

Canada`s Brayden Schnur (right) and India`s Yuki Bhambri shake hands after the match during Davis Cup singles tennis tournament action in Edmonton, Alberta on Sunday.


Editorial »

Rice crisis must be resolved — police action not enough


THE government on day before yesterday directed the law enforcement agencies and Deputy Commissioners (DC) to arrest illegal rice hoarders in the country. The directive comes in the wake of introducing open market sales (OMS) of coarse rice at Tk. 30 per kg, double the previous year's price, across the ...

City »

Hefazat-e-Islam Bangladesh brought out a procession in the city protesting persecution of Rohingya Muslims in Myanmar was intercepted by police at Shantinagar intersection on Monday.


Entertainment »

Waluscha De Sousa sets the ramp on fire in an Anj Kreations lehenga


A fashion favourite & Bollywood actress Waluscha De Sousa who made her debut in Shah Rukh Khan starrer Fan was seen walking the ramp at a preview show for an upcoming exhibition named Joya. This exhibition organised by the Moranis of Cineyug held a preview of top 8 designers participating ...

International »

US may stay in Paris climate accord : Tillerson


Reuters, Washington :The United States could remain in the Paris climate accord under the right conditions, Secretary of State Rex Tillerson said on Sunday, signaling a shift in tone from the Trump administration, which angered allies with its decision to pull out of the agreement.President Donald Trump is willing to ...

Editorial »

N. Korea`s mad rush for nuclear status


NORTH Korea said it was seeking military "equilibrium" with the United States as leader Kim Jong-Un vowed to complete Pyongyang's nuclear programme. North Korea successfully fired a Hwasong-12 intermediate-range ballistic missile over Japan on Friday, responding to a new round of UN sanctions over its sixth nuclear test with its ...

Sports »

Saida Akter Mou (right) of Bangladesh Ansar & VDP and Rifad Ahmed Sabbir of BKSP pose with their trophies of the girls' singles and boys' singles of the South Bangla Agriculture & Commerce Bank 4th National Junior Table Tennis Championship at the Shaheed Tajuddin Wooden Floor Gymnasium on Sunday.


Entertainment »

Kriti Sanon marks Nat`l Engineers Day


It is a known fact that Kriti Sanon who is today known to be one of the top young actresses in the industry has a background of being an Engineer. The Bareilly Ki Barfi actress came to Mumbai a few years back from Delhi where she was studying engineering with a ...

City »

Jatiyatabadi Projanma `71, organized a discussion titled `Election-time Government: Role of Election Commission and future of democracy at the Jatiya Press Club on Sunday. Among others, BNP Senior Joint Secretary General Ruhul Kabir Rizvi took part in the discussion.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news