Business
Bangladesh keen to export readymade garments to Nepal, seeks collaboration to unlock opportunities
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Wednesday expressed keen interest in exporting readymade garments to Nepal and emphasized the importance of collaboration between the two countries to unlock mutually beneficial opportunities.
Visiting Nepali delegation highlighted the investment potential within Nepal and showcased the various opportunities available to investors.
The delegation representing the Ministry of Industry, Commerce and Supplies of Nepal held a meeting with BGMEA president Faruque Hassan on Wednesday (September 20).
During the meeting held at BGMEA Complex in Dhaka, both sides discussed issues of mutual interests, potential areas of collaboration, and trade and investment opportunities between the two countries.
Read: Nepal could be a source of clean energy for Bangladesh: FBCCI
The Nepali delegation, led by Baburam Gautam, Director General of the Department of Industry within the Government of Nepal, exchanged ideas and information with the BGMEA president.
The discussion encompassed a wide range of topics, including the thriving readymade garment industry in Bangladesh, its future prospects, and the strategic vision for its continued growth.
Read: FBCCI president says they are against dishonest businessmen
Faruque shared insights into Bangladesh's emphasis on diversifying its market for garment exports and its ongoing efforts to explore new export destinations.
In the meeting, both parties expressed willingness to work together to realize mutual benefits, according to BGMEA.
Read more: Japan wants to increase investment in Bangladesh: Japanese envoy told FBCCI
Selling dollars at higher prices: What is Bangladesh Bank’s action against treasury heads of 10 banks?
Bangladesh Bank is working to take disciplinary action against the treasury heads of 10 commercial banks over selling US dollars at prices higher than the fixed rate.
The central bank sent letters to these banks mentioning the offence with instructions of punishment.
Bangladesh Bank stated in the letter that the treasury chief cannot ignored the responsibility of such offence.
Read: Bangladesh Bank assures businesses interest rate won't go too high
Banks’ treasury departments handle the demand and supply of money and dollars. In some banks, there is also an officer, of deputy managing director rank, as the head of the treasury department.
According to information from various sources, the 10 concerned banks are: Mercantile Bank, Premier Bank, BRAC Bank, Madhumati Bank, Midland Bank, Exim Bank, Social Islami Bank, Al-Arafah Islami Bank, Shahjalal Islami Bank and Trust Bank.
Read: Bangladesh Bank relaxes rules for EFPF loan payment
Sources said this number of banks may increase.
In August last year, Bangladesh Bank removed the heads of the treasury departments of six domestic and foreign banks based on the same complaint. But in the end, the regulatory body could not uphold that decision.
Chairman of Association of Bankers, Bangladesh (ABB) and Managing Director (MD) of BRAC Bank, Salim RF Hossain, said that this is a bilateral issue between the central bank and the respective scheduled banks. “Such letters come regularly. Therefore, I do not want to make any specific comments on this issue,” he said.
Read: Bangladesh Bank seeks explanations from 13 banks for selling dollars at higher prices
SEAPEX opens Bangladesh Chapter in Dhaka
Southeast Asian Petroleum Exploration Society (SEAPEX) has launched its Bangladesh chapter at acolourful event in Dhaka.
The inauguration programme was held on Monday at Baridhara. The programme was opened byMichael Whibley, Seapex Committee Member and Asia Pacific Scoutcheck (APSC) Chairperson and
Masud Khan, DMD Cosmos Group. Edwin Bowles, General Manager, KRISENERGY Bangladesh, amongst others were present there.
Singapore-based SEAPEX is a non-profit organization formed with an objective to promote petroleum and natural gas exploration, development, and production in Southeast Asia.
Every two years SEAPEX arranges a conference in Singapore which is one of the renowned andprestigious summits of oil and gas professionals in the Asia Pacific region.
BGMEA calls for collaboration to create enabling environment for responsible business practices
BGMEA installs CBC machine at its Chattogram Hospital for dengue patients
In an effort to enhance healthcare services for garment workers, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has installed a state-of-the-art Complete Blood Count (CBC) machine dedicated to the pathological examination of dengue patients at the BGMEA Hospital and Diagnostic Center in Chattogram.
The momentous occasion was marked by an inauguration ceremony with BGMEA President Faruque Hassan as the chief guest on September 18, BGMEA said on Tuesday.
BGMEA First Vice President Syed Nazrul Islam, Vice President Rakibul Alam Chowdhury, Directors A.M. Shafiul Karim (Khokon), and M. Ahsanul Hoq, Chair of BGMEA Standing Committee on Trade Fair Mohammed Kamal Uddin, and Chair of BGMEA Standing Committee on Cash Incentive Humayun Kabir Salim were present at the inaugural ceremony.
The introduction of the CBC machine represents a significant step forward in BGMEA's commitment to the well-being of garment workers and poor people in society.
Dengue fever is a major health concern in Bangladesh, and this CBC machine will greatly facilitate early diagnosis and treatment.
BGMEA President Faruque Hassan said, “BGMEA is dedicated to the welfare of the garment workers and underprivileged people in our community, and the installation of this CBC machine is a testament to our commitment."
The CBC machine will play an important role in diagnosing and monitoring dengue patients effectively.
It will enable prompt and accurate test results, allowing healthcare professionals to initiate timely treatment, which is crucial in managing dengue cases.
US officials discuss bilateral trade workers' rights with BGMEA
Bangladesh and the United States have expressed willingness to work collaboratively towards a more sustainable and worker-friendly future for Bangladesh's RMG industry.
A high-level delegation representing the Office of the U.S. Trade Representative (USTR) and the U.S. Department of Labour met Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), on September 19.
The meeting, which took place at BGMEA Complex in Dhaka, aimed to discuss a variety of crucial issues, including bilateral trade opportunities, environmental sustainability, workplace safety, workers' rights, and wellbeing.
The U.S. delegation consisted of Brendan Lynch, Acting Assistant U.S. Trade Representative (AUSTR) for South and Central Asia; Mahnaz Khan, Director for South Asia, Office of U.S. Trade Representative; Christopher Kazlauskas, Deputy Director, Office of Trade & Labour Affairs, U.S. Department of Labour; Seamas Whitesel, Director for South Asia Regional Affairs, National Security Council; and Leena Khan, Labour Attaché, U.S. Embassy, U.S. Department of Labour.
BGMEA was represented by its President Faruque Hassan along with Vice President Shahidullah Azim, Vice President Md. Nasir Uddin, Directors Barrister Shehrin Salam Oishee, Faisal Samad, Abdullah Hil Rakib, Haroon Ar Rashid, Chair of BGMEA Standing Committee on ILO Affairs ANM Saifuddin, Chair of BGMEA Standing Committee on Foreign Mission Cell Shams Mahmmud, and Chair of BGMEA Standing Committee on Press, Publication, and Publicity Shovon Islam.
During the meeting, BGMEA President Faruque Hassan provided an overview of Bangladesh's readymade garment (RMG) industry, emphasizing the industry's progress in areas such as workplace safety, green growth, workers' rights, and labour law reforms.
He also highlighted the government's initiatives to enhance workers' rights, particularly through amendments to labour laws, according to BGMEA.
Faruque Hassan further briefed the USTR and Labour Department officials about BGMEA's initiatives, including the arbitration-cum-conciliation committee (CAC), which offers alternative dispute resolution services to workers at no cost.
The CAC, led by a retired district judge, plays a pivotal role in resolving disputes between factory owners and employees, reducing the number of cases brought before labour courts and saving time and resources for workers.
Prime Bank, BASIS sign MoU to ease banking transactions
Prime Bank and Bangladesh Association of Software and Information Services (BASIS) signed a Memorandum of Understanding (MoU) to ease banking transactions for BASIS.
The agreement was signed in a ceremony organized at the BASIS office recently.
Read: Quality unmatched: Mercedes-Benz buses now in Bangladesh
Prime Bank Deputy Managing Director and CFO Mohammad Habibur Rahman Chowdhury and BASIS Secretary Hashim Ahmed signed the MoU on behalf of their respective sides.
The MoU was signed to provide an Export Retention Quota Account (ERQ) facility to BASIS member companies actively involved in outsourcing, BPO, business services, and professional and advisory services.
As a result, members can make payments (received through inward remittance) in USD accounts and BDT accounts simultaneously. A member may also transfer USD funds from his USD ERQ account to a foreign currency account for legitimate business purposes as per regulatory requirements and bank policy, said a press release.
Read: BGMEA calls for collaboration to create enabling environment for responsible business practices
Besides, members will have the facility of using an international card issued against their ERQ account.
BGMEA urges Chattogram Port Authority to continue capacity development efforts to meet growing trade demand
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has called for enhancing the capacity of the Chittagong Port in line with the growing demand of export-import sector of Bangladesh, particularly the export-oriented readymade garment industry.
The trade association also laid emphasis on enhancing the port efficiency to handle export-import cargoes within the shortest possible time to reduce lead times.
Also read: BGMEA calls for streamlined bond services to boost RMG competitiveness
BGMEA President Faruque Hassan made the call during a meeting with Chairman of Chittagong Port Authority (CPA) Rear Admiral Mohammad Sohail.
Underling the importance of the port in accelerating the trade, the BGMEA president said the RMG industry of Bangladesh has set a target of achieving 100 billion dollars from garment exports by 2030, which necessitates increasing the capacity of the port to handle export-import goods.
The industry also aims to diversify from basic to high-end fashion segment to increase its export share in the global market. Such segment requires shorter lead time.
In this competitive business world, lead time reduction is necessary to remain ahead in market competition, he added.
Also read: BGMEA urges Custom House to make services faster and simpler for RMG industry’s competitiveness
Faruque Hassan thanked the CPA for taking all the steps that have led to smooth functioning in the Chattogram Port, urging them to continue the efforts to accelerate export-import activities.
BGMEA First Vice President Syed Nazrul Islam, Vice President Rakibul Alam Chowdhury, Directors A.M. Shafiul Karim (Khokon), M. Ahsanul Hoq, former Directors Helal Uddin Chowdhury and Anjan Shekhar Das, and, Chair of BGMEA Standing Committee on Trade Fair Mohammed Kamal Uddin, and Chair of BGMEA Standing Committee on Cash Incentive Humayun Kabir Salim were also present at the meeting held at CPA office in Chattogram on September 18.
Also read: BGMEA calls for collaboration to create enabling environment for responsible business practices
Commodore Mohammad Mahbubur Rahman, Member (Engineering); Md Habibur Rahman, Joint Secretary, Member (Admin and Planning); Commodore M Fazlar Rahman, Member (Harbour and Marine); Mohammad Shahidul Alam, Additional Secretary, Member (Finance); and other high officials of the CPA were present at the meeting.
BGMEA calls for streamlined bond services to boost RMG competitiveness
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the Customs Bond Commissionerate in Chattogram to enhance the speed and simplicity of custom bond-related services to boost the competitiveness of the RMG industry.
The call was made when a delegation of BGMEA headed by President Faruque Hassan held a meeting with A.K.M. Mahbubur Rahman, Commissioner of Customs Bond Commissionerate, Chattogram.
BGMEA First Vice President Syed Nazrul Islam, Vice President Rakibul Alam Chowdhury, former First vice president Moinuddin Ahmed Mintu, Directors A.M. Shafiul Karim (Khokon), M. Ahsanul Hoq, former Directors Helal Uddin Chowdhury, Anjan Shekhar Das, Khondaker Belayet Hossain, Mohammad Atique and, Chair of BGMEA Standing Committee on Trade Fair Mohammed Kamal Uddin, and Chair of BGMEA Standing Committee on Cash Incentive Humayun Kabir Salim were present at the meeting held at the Customs Bond Commissionerate office in Chattogram on September 18.
Also read: BGMEA urges Custom House to make services faster and simpler for RMG industry’s competitiveness
The meeting was also attended by Joint Commissioners Kamona Sheesh and Md. Mizanur Rahman, Deputy Commissioners Tapan Chandra Dey, Suman Chakma and Mohammad Kawsar Alam Patwary.
The meeting centered on important discussions concerning issues and challenges faced by the RMG sector in relation to bond-related services.
During the meeting, President Faruque Hassan underlined the immense potential that Bangladesh holds in the global market and emphasized that simplified bond services would play a pivotal role in harnessing this potential.
He particularly emphasized the necessity of eliminating complexities in the customs bond procedures, and resolving problems that causes delay in services.
Also read: BGMEA calls for collaboration to create enabling environment for responsible business practices
Streamlining this process, he noted, would shorten lead times, thus contribute significantly to its global competitiveness.
In response to these concerns, the Commissioner of the Customs Bond Commissionerate assured the BGMEA delegation of the necessary cooperation in addressing the issues raised during the meeting.
In the meeting, both sides expressed willingness to work closely together to create a more conducive environment for RMG businesses to thrive.
Also read: DSE, BGMEA join forces to support RMG enterprises in capital market
BGMEA urges Custom House to make services faster and simpler for RMG industry’s competitiveness
BGMEA President Faruque Hassan has urged the Custom authority to simplify customs-related procedures and removing all obstacles to facilitate faster and smoother services for the RMG sector.
In a highly competitive global market, he stressed that Bangladesh must reduce lead times, which is a critical factor for maintaining competitiveness within the fashion industry.
A delegation of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), led by President Faruque Hassan, held a crucial meeting with Mohammad Fyzur Rahman, Commissioner of Custom House, Chattogram.
The purpose of the meeting was to discuss and address key concerns related to customs procedures affecting the readymade garments (RMG) industry.
Also read: BGMEA calls for collaboration to create enabling environment for responsible business practices
The BGMEA president also pointed to the challenges currently facing the RMG industry, especially a slowdown in orders due to the global economic impacts of the Russia-Ukraine war.
He highlighted the industry's need for government support and cooperation to navigate these challenging times and ensure its sustainable growth.
The BGMEA delegation apprised the Customs Commissioner of the various difficulties faced by garment exporters concerning customs-related services.
They urged the customs authorities to take prompt action in addressing these issues and streamlining services for the RMG industry.
Also read: DSE, BGMEA join forces to support RMG enterprises in capital market
In response, the Customs Commissioner acknowledged the significant contribution of the RMG industry to the socioeconomic development of Bangladesh.
He listened to the concerns raised by the BGMEA leaders during the meeting and assured them of the Customs House's commitment to providing comprehensive support to resolve these challenges and enhance services for RMG exporters.
BGMEA First Vice President Syed Nazrul Islam, Vice President Rakibul Alam Chowdhury, Directors Md. M. Mohiuddin Chowdhury, A.M. Shafiul Karim (Khokon), M. Ahsanul Hoq, former Directors Anjan Shekhar Das and Helal Uddin Chowdhury, Chair of BGMEA Standing Committee on Trade Fair Mohammed Kamal Uddin, and Chair of BGMEA Standing Committee on Cash Incentive Humayun Kabir Salim were present at the meeting held at the Custom House in Chattogram on September 18.
Also read: BGMEA urges Kontoor Brands to step up garment sourcing from Bangladesh
Md. Zakir Hossain, Additional Commissioner, Tafsir Uddin Bhuiyan, Joint Commissioner and other high officials of the Custom House, Chattogram were also present at the meeting which was attended by President of Chattogram Custom Agents Association AKM Akhtar Hossain, Secretary General Kazi Mahmud Imam and port related secretary Liakat Ali Howlader.
Uber Driver Account in Bangladesh: How to Activate, Delete, and Reactivate
As traditional employment models have been changing, many individuals are turning to innovative platforms like Uber to secure their financial future. Uber driving has become synonymous with the gig economy, offering a flexible rewarding income source. However, entering this trendy job requires a clear understanding of the activation process. This article explores the ins and outs of how to activate an Uber driver account in Bangladesh. It also covers the account deletion and reactivation procedures.
Prerequisites for Activating an Uber Driver Account
Prospective Uber drivers have the opportunity to join the platform without the necessity of owning a motorbike or car. However, adherence to ride-sharing regulations is crucial, varying country-wise. For instance, in Bangladesh's perspective, it includes obtaining a ride-sharing enlistment certificate from the Bangladesh Road Transport Authority (BRTA). The certificate can be acquired by the vehicle owner and through Uber's company for those who do not own a vehicle.
Additionally, there is a universal requirement for all Uber drivers in Bangladesh to meet the minimum age criterion of 18 years, as established by the BRTA for driver's licenses.
Read more: Where to Learn Car Driving in Dhaka?
Documents Required to Activate Uber Driver Account
For the Driver
- An identity card containing the driver's personal information.
- A profile photograph that adheres to specific guidelines: it must be a well-lit image without glasses, focusing on the driver's full face and top of shoulders. This photo should solely feature the driver's face without the inclusion of a driving license image or any other printed photograph.
- A National Identity Card (NID)
- A valid driving license.
Read more: The most popular car models in Bangladesh
For the Vehicle (Motorbike/Car)
- Registration form
- Fitness certificate
- Tax token
- Insurance certificate.
If the applicant does not own a vehicle, only the following documents are required:
- National Identity Card (NID) or equivalent identification
- Valid driving license.
Read more: Highway Robbery Prevention Tips while Driving at Night
Step-by-Step Guide to Activate an Uber Driver Account
Application Process for BRTA Ride-Sharing Enrollment
Registering the BRTA Service Portal
- Initiate the process by visiting the BRTA Service Portal (https://bsp.brta.gov.bd/register).
- Click on the 'Register' option and verify the email address. Verification involves receiving a confirmation message in the email and an OTP on the mobile number.
- Once verified, log in using the email address or mobile number and password.Access the profile by clicking on the image on the dashboard and complete all required information.
Read more: How to Obtain an International Automobile Driving License from Bangladesh?