- December 15, 2017
Bangladesh offers the world’s lowest labour costs with a minimum wage of about $37 a month for a garment industry job
The Export Promotion Bureau of Bangladesh has been asked to assess the possible losses of apparel exports to global markets in the backdrop of factory building collapse in Savar that left over 380 people killed.
Commerce ministry officials said the assessment is to prepare for future strategies.
Commerce secretary Mahbub Ahmed asked the EPB to prepare their assessment about the negative impact on global garment market because of the incident at Rana Plaza, which housed five garment factories, said a senior official.
EU might consider reviewing GSP, calls upon Dhaka to act immediately to ensure labourers’ safety
The European Union is considering trade action against Bangladesh, which has preferential access to EU markets for its garments, in order to pressure Dhaka to improve safety standards after a building collapse killed hundreds of factory workers, reports Reuters.
Duty-free access offered by Western countries and low wages have helped turn Bangladesh's garment exports into a $19 billion a year industry, with 60% of clothes going to Europe.
Dubai Chamber has more than 1,500 Bangladeshi-owned companies amongst its 110,000 plus business entities
Dhaka Chamber of Commerce and Industry (DCCI) is planning to open a regional office in the United Arab Emirates (UAE) to promote two-way investment and trade between Bangladesh and the countries of Gulf Cooperation Council (GCC).
The office is to help organise trade missions and exhibitions as well as events to promote business events that will benefit the business community of both the countries, DCCI President Sabur Khan told a business meeting with Abu Dhabi Chamber of Commerce and Industry in Abu Dhabi on Monday, said a press release today.
Commercial councillors at the European Union, the USA and the African countries already sent e-mails to the commerce ministry
Bangladesh missions in foreign countries across the world have expressed deep concern over the deadly building collapse at Savar, and asked for details of the rescue work and the government’s steps in this regard, official sources said yesterday.
Commercial councillors at the European Union, the USA and the African countries already sent e-mails to the commerce ministry and wanted to know how the government was handling the matter, said a senior official of the commerce ministry.
It took initiative to stop all kinds of activities of the five factories
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday suspended membership of five readymade garment factories for violating its orders to not operate while housed at Rana Plaza in Savar.
It also took initiative to stop all kinds of activities of the five factories, vice president of BGMEA Shahidullah Azim told the media at a press briefing at the BGMEA conference room in the city yesterday.
Primark, Benetton and Mango among buyers
The ill-fated factories at the collapsed Rana Plaza complex in Savar were making clothes for leading international brands, it was revealed on Wednesday night.
Faster tariff reduction, removal of non-tariff barriers discussed
Two joint working groups on trade and shipping were launched yesterday to tap the potentials of enhanced trade and connectivity between Bangladesh and Sri Lanka.
The joint working group on trade is expected to start work within two months.
This was agreed when the Bangladesh Foreign Secretary M Shahidul Haque and Sri Lankan Secretary to the Ministry of External Affairs Karunatilaka Amunugama met on Monday at Colombo at the second Foreign Office Consultation, UNB reported quoting a foreign ministry message received here yesterday.
Resolve political crisis politically, but quickly, say industry heads
Depicting a gloomy picture of the ready made garments (RMG) sector and huge losses caused by frequent shutdowns, frustrated leaders of the apparel sector today renewed their request to political parties to refrain from enforcing hartals for the sake of the economy.
“Relieve us of hartal…You’re not seeing our internal bleeding. It seems that the industry (RMG) is being strangulated to death,” BGMEA president M Atiqul Islam told a joint press conference at the BGMEA conference room.
It also has a plan to operate flights from Dhaka to Singapore, Yangon, Doha, Dammam, Riyadh, Abu Dhabi and Karachi shortly
United Airways (BD) Limited, the country’s one of the largest private airlines, will resume its flight operation on Dhaka-Barisal route from Thursday to carry passengers from Hazrat Shahjalal International Airport, Dhaka, says UNB.
Civil Aviation and Tourism Minister Faruk Khan will inaugurate the flight at Barisal Airport in the morning, officials said.
Teletalk officials say this means the country will have 100% mobile phone network coverage
Mobile phone network coverage will reach into the depths of the Sundarbans for the very first time.
Teletalk, the state owned mobile phone operator, says that it will expand its network into the coastal forest soon.
“We submitted an application for the Sundarbans after getting a verbal confirmation from the BTRC chairman,” Teletalk Managing Director Mujibur Rahman told Dhaka Tribune.
8th World Chambers Congress is bringing together chambers of commerce and their leaders from around the globe to share, learn and build new networks of business opportunity
An 18-member delegation of International Chamber of Commerce Bangladesh is now in Doha, Qatar to attend 8th World Chambers Congress.
ICCB President Mahbubur Rahman is leading the delegation to the Congress being held from 22-25 April at Qatar National Convention Centre in Doha, said a press release of the organisation yesterday.
The ICC World Chambers Federation is organising the event.
Members of the delegation are scheduled to meet the Ministers for Industries, Commerce and Foreign Affairs of Bangladesh
A Swiss business delegation arrives here on Sunday on a two-day official visit to Bangladesh.
The delegation will be led by Ambassador Eric Martin, the Head of Bilateral Economic Relations of the State Secretariat for Economic Affairs of Switzerland, said Swiss Embassy press release.
During the visit, the delegation will meet senior government and private sector officials. The main objective of the visit is to further deepen official contacts between Switzerland and Bangladesh in the areas of business and trade.
The deadlock came to an end two hours later following an intervention by local businessmen. Import activity at the port remained uninterrupted
The export of Bangladeshi goods to India through the Benapole land port remained suspended for about two hours following the death of a transport businessman in a road accident in the port area on Saturday.
The deceased was identified as transport businessman M Ali Jinna, 62, a resident of the Baroachra village of Benapole.
The police said an Indian jute-laden truck ran over Jinna at the export terminal centre at about 8am while he was returning home from his morning walk, leaving him dead on the spot.
The recall extends to Latin America, China, other Asian nations, the Middle East and Africa
Toyota, Honda and Nissan are recalling more than 2 million vehicles globally for an identical problem with air bags on the passenger side whose inflator may burst, sending plastic pieces flying.
No injuries have been reported related to the problem.
The recall for air bags made by Japan's Takata Corp. affects other automakers, including non-Japanese manufacturers, Takata spokesman Akiko Watanabe said Thursday. She declined to give details.
BGMEA leaders expressed concern over the apathy the commercial banks have been showing to the readymade garment (RMG) owners since the Hallmark scam was exposed
The Bangladesh Bank and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Thursday decided to form a joint-monitoring committee to address the commercial banks’ reluctance to clear the inland documentary bills on credit to apparel and textile owners.
The decision came when the newly elected governing body of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) called on the central bank governor, Dr Atiur Rahman, at his office.
‘The political leaders must address its impact on the RMG sector’: BGMEA President
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Thursday urged the political leaders to sit for discussing a way out from the recent political unrest.
Talking to reporters after a meeting at the Bangladesh Bank, newly elected president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Atiqul Islam said that recent hartals (general strikes) have almost paralyzed the export-import activities in the country.
“The political leaders must address its impact on the RMG sector,” he said.