Can Bangladesh overtake China to be EU’s biggest apparel source?
Bangladesh is poised to become the source of most of the European Union’s (EU) apparel as China, the largest apparel supplier worldwide, is witnessing a decrease in its share of trade with the bloc.
23 January 2023, 03:00 AM
RMG export to Russia drops sharply
Even a year ago before the start of the Russia-Ukraine war, Rajiv Chowdhury, managing director of Young4ever Textiles, used to ship T-shirts and polo shirts worth $1 million to Russia as the market was opening up for local exporters.
23 January 2023, 02:30 AM
Bangladesh wants MIGA-backed loans at 4% max
Bangladesh plans to pay a maximum of 4 per cent in the interest rate and commissions against the loans to be guaranteed by the Multilateral Investment Guarantee Agency (MIGA), said officials of the commerce ministry yesterday.
20 January 2023, 02:30 AM
Bangladesh retains 2nd place in RMG export to EU
Apparel shipments to the European Union (EU) grew 41.76 per cent year-on-year to hit $19.40 billion in the January-October period of 2022, according to data from Eurostat, the statistics department of the EU.
19 January 2023, 03:30 AM
Asia comes to RMG exporters’ aid amid slowdown in EU, US
Amidst the slowdown in garment shipment to the European Union and the United States owing to persistently higher inflation, the Asian markets are emerging as the saviour for the apparel exporters from Bangladesh.
17 January 2023, 02:00 AM
Bangladesh misses out on using textile scraps in full
Spinners in Bangladesh are facing a shortage of waste cotton and textile scraps since a major portion of them is shipped abroad amid higher demand for recycled yarns and fabrics worldwide.
16 January 2023, 02:30 AM
RMG export growth slows in US, EU for global uncertainty
The growth of garment shipment to the US and the European Union declined in July-December as consumers in the two largest export destinations of Bangladesh have remained concerned about the persisting economic uncertainty for the raging Russia-Ukraine war.
13 January 2023, 02:00 AM
Investment in RMG accessories slows
The flow of fresh investments in the garment accessories segment slowed in the last two years mainly for the severe fallout of Covid-19, the Russia-Ukraine war, and the US dollar crisis.
9 January 2023, 03:00 AM
Narrow gap in dollar buy- sale rates
Apparel exporters have demanded that the government fast narrow down the gap between the rates at which the US dollar is bought and sold, citing that they were incurring losses for volatility in the exchange rate.
9 January 2023, 02:30 AM
Commerce ministry to BB: "Set aside dollar for import of essentials"
The commerce ministry today requested the Bangladesh Bank for keeping a certain quota of US dollar to facilitate import of six essential commodities to ensure smooth supply of the goods during Ramadan.
5 January 2023, 13:27 PM
Only two export items fared well in first half of FY23
Only two major exports, namely apparel and leather and leather goods, performed well in the first half of the current fiscal year as global demand for non-garment items has fallen in the face of high inflation stemming from the Russia-Ukraine war.
4 January 2023, 03:30 AM
Exports hit record on Christmas cheer
Exports fetched a record $5.37 billion in December as consumer spending centring on Christmas in the Western world returned in full swing after two pandemic holiday seasons marked by health fears and supply shortages.
3 January 2023, 01:20 AM
Exports hit single month historic high in December
The earning from merchandise export in December grew by 9.33 per cent year-on-year to $5.37 billion, a single month historic high of Bangladesh.
2 January 2023, 04:49 AM
Garment of Man-Made Fibre: Ministry for 10% cash incentive on export
The commerce ministry will again write to the finance ministry to provide a 10 per cent cash incentive to garment exporters making goods out of man-made fibres to offset the pandemic’s fallouts and challenges of Bangladesh’s country status graduation.
2 January 2023, 04:00 AM
Anwar Landmark wants to expand business
Anwar Landmark, one of the leading real estate developers, wants to expand its business, saying demand was rising rapidly for affordable flats and buildings among consumers like corporate executives, professionals like doctors and engineers and high-ranking government officials.
29 December 2022, 03:00 AM
Garment exporters see moderate recovery in 2023
Local apparel suppliers are expecting moderate recovery in exports in the upcoming year as sales in the Western world are gradually gaining pace with a new normal arising from the Russia-Ukraine war and falling prices of petroleum products.
27 December 2022, 02:00 AM
Lift anti-dumping duty on jute, jute goods
Bangladesh has again proposed that the Indian government refrain from retaining an anti-dumping duty imposed on the country’s jute and jute goods once it ceases to have effect on December 31.
26 December 2022, 03:00 AM
Formal talks kick off this week for Cepa with India
Formal negotiations for signing a comprehensive economic partnership agreement (Cepa) with India are expected to begin this week during a visit of Tipu Munshi, the commerce minister of Bangladesh, to the neighbouring country.
22 December 2022, 02:30 AM
RMG makers offer discounted groceries to workers
Some garment manufacturers are providing basic commodities to their workers at discounts opening shops on factory premises, bringing some relief amidst the skyrocketing of prices in the local markets.
21 December 2022, 02:45 AM
Export stands out in turbulent year
Bangladesh's export sector showed its prowess in 2022 despite the devastating Russia-Ukraine war, unprecedented freight costs, energy crisis, record inflation and a risk of a recession that loomed throughout the outgoing year.
21 December 2022, 02:00 AM