Brexit and its impact on Bangladesh economy
Exam 17 june 17 Bank :MTB (PO)
While European leaders dreamt of an inter- related medley economy across the whole Europe ,The English desired something different is bursted out after 43 years leads to do a referendum consisting 46.5 million people whether to stay with Europe or not, is observed across the Europe and the world in 2016.
The European leaders fear that Brexit will roadster the biggest economic crisis after the world war where the English want their independent country which not to be shared with outsiders including their privileges ,their rights and their benefits that's why they give their discernment to retain the sole possession of their country by choosing exit from Europe alliance 23June 2016.
It is,however, exigency to note that it impacts upon the world economy is obvious but cant be determined how it will be profound or superficial but its wound has flown over the stock market has been shaken by instant impact and also has slumbered the pound in exchange of dollars .So to say the wound will flow from Europe to North American to Asia. Hence ,it will definitely affect the economy of our country .
Brexit ,however ,will ply a pivotal role in our economy in various sectors including trade ,aid ,investment, remittances ,migration . Bangladesh feels the risk of losing duty favors on its of annual export more than 3 billion to the UK third largest destination . It also ,besides ,will strafe our remittance due to impose the law of departure of UK.
Bangladesh is inter- linked with UK in many ways in which Bangladeshi exporters get an essay access to export their products as Duty Free Quota Free market access as a least development country after its Independence, now Brexit may push the other countries by imposing tariffs to the export to create own industry of these products or in oder to protect their domestic industries in the face of pressure in their economy ,will cost more than 12.5 percent would save before imposing traffic ,will also compel to stand our exports to face competitive market can discourage new entrepreneur to invest in RMG Industry in Bangladesh as it will accelerate the overall cost of RMG .
Furthermore, It can also make sluggish our remittance in short run ,as Bangladeshi migrants will be discoursed to do so in face of currency fall where about to 1.billion remittance comes from UK in a fiscal year .In addition ,UK is the best bilateral donor of Bangladesh from whom we get a large amount of aid may lessen due to their policy if it changes .
To sum up, It is a matter of note down that the fully implementation of Brexit will take at least 2 years and it does not require immediate concern about it & its impacts especially in Exports if we serve quality products they will run .
Shamsul shams
MBA in HRD
Jahangirnagar university
Exam 17 june 17 Bank :MTB (PO)
The European leaders fear that Brexit will roadster the biggest economic crisis after the world war where the English want their independent country which not to be shared with outsiders including their privileges ,their rights and their benefits that's why they give their discernment to retain the sole possession of their country by choosing exit from Europe alliance 23June 2016.
It is,however, exigency to note that it impacts upon the world economy is obvious but cant be determined how it will be profound or superficial but its wound has flown over the stock market has been shaken by instant impact and also has slumbered the pound in exchange of dollars .So to say the wound will flow from Europe to North American to Asia. Hence ,it will definitely affect the economy of our country .
Brexit ,however ,will ply a pivotal role in our economy in various sectors including trade ,aid ,investment, remittances ,migration . Bangladesh feels the risk of losing duty favors on its of annual export more than 3 billion to the UK third largest destination . It also ,besides ,will strafe our remittance due to impose the law of departure of UK.
Bangladesh is inter- linked with UK in many ways in which Bangladeshi exporters get an essay access to export their products as Duty Free Quota Free market access as a least development country after its Independence, now Brexit may push the other countries by imposing tariffs to the export to create own industry of these products or in oder to protect their domestic industries in the face of pressure in their economy ,will cost more than 12.5 percent would save before imposing traffic ,will also compel to stand our exports to face competitive market can discourage new entrepreneur to invest in RMG Industry in Bangladesh as it will accelerate the overall cost of RMG .
Furthermore, It can also make sluggish our remittance in short run ,as Bangladeshi migrants will be discoursed to do so in face of currency fall where about to 1.billion remittance comes from UK in a fiscal year .In addition ,UK is the best bilateral donor of Bangladesh from whom we get a large amount of aid may lessen due to their policy if it changes .
To sum up, It is a matter of note down that the fully implementation of Brexit will take at least 2 years and it does not require immediate concern about it & its impacts especially in Exports if we serve quality products they will run .
Shamsul shams
MBA in HRD
Jahangirnagar university
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