The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday urged the country’s revenue authority to avoid imposing any supplementary duty on locally produced goods in the next fiscal year.

Although Bangladesh’s overall export earnings from China increased 9.81 per cent year-on-year to $426.14 million in the last seven months, apparel shipments to the East Asian nation failed to meet expectations despite enjoying duty benefits.

The apparel exporters have demanded withdrawal of value-added tax (VAT) on purchase of raw materials, goods and services required for the export-oriented garment factories.

The first direct container vessel flagged off from Chittagong port for Italy today.

Adnan Fibre Ltd, a Bangladeshi company, is going to establish a backward linkage industry in Ishwardi Export Processing Zone (IEPZ).

Earnings from merchandise exports surged 41.13 per cent year-on-year to $4.85 billion in January on the back of rebounding garment shipment from Bangladesh.

The garment makers have spent over 30 per cent more for establishing green factories, but international buyers are still reluctant to pay higher prices for the produce made in the globally complaint units.

Spending behind apparel and footwear in the US exceeded pre-pandemic levels in every month of 2021, says a new study by online personal styling service Stitch Fix. And this translates as good fortunes for Bangladeshi exporters.

Bangladesh’s exports to the Indian markets are expected to reach $2 billion for the first time at the end of the current financial year as the demand for Bangladeshi products is increasing to the neighbouring country.

High import duties on raw materials are dampening price competitiveness of Bangladesh’s furniture industry, a major drawback to tapping into international markets.

Garment shipments to the European Union, including the UK, Bangladesh’s single largest export destination, rose 23.83 per cent year-on-year to $12 billion in the current fiscal year’s first half.

Export earnings hit a new record in December as manufacturers fetched almost $5 billion, backed by the surge in demand from international retailers in Europe and the US.

Walton has started exporting its gas stoves to Sri Lanka.

Indonesia has banned coal exports in January due to concerns that low supplies at domestic power plants could lead to widespread blackouts, a senior official at the energy ministry said on Saturday.

The ongoing Covid-19 pandemic has shed light on the potential of investing in the production and export of medical personal protective equipment (MPPE), analysts said at a webinar yesterday.

Bangladesh has already conquered the international apparel market and is currently the second-largest exporter of garment items worldwide after China with a 6.8 per cent global market share.

The removal of double taxation and introduction of easy banking procedures will increase trade between Bangladesh and Russia, Commerce Minister Tipu Munshi said today.

Export earnings surged 31 per cent year-on-year to $4 billion in November from a year ago, thanks to the rebound in the apparel shipment in the European and the US markets for increased consumers’ demand following the Covid-19 pandemic fallout.

Bangladesh has the potential to produce $1.2 billion worth of recycled textile and garment items as the country has a big production base of cotton fibre made clothing items, according to a new study by the Global Fashion Agenda (GFA) and the McKinsey & Company.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will work with the British-Bangladesh Chamber of Commerce and Industry (BBCCI) to expand the south Asian country’s export market in the UK.