business
Chairman of Orkim Chemicals calls on BGMEA President
The chairman of Orkim Chemicals,Tolga Ilter paid a courtesy call on the Bangladesh Garment Manufacturers and Exporters Association's (BGMEA) president Faruque Hassan on Thursday (October 12).
Sportking and BGMEA discuss potential collaboration in apparel sector
During the meeting, they had discussions encompassing various areas of shared interest.
The meeting also centered on the present status of Bangladesh’s garment industry, its challenges and prospects, global apparel market situation, and evolving trends.
Faruque Hassan pointed to the growing focus of Bangladesh's apparel industry on sustainable manufacturing where factories are continuously making efforts to embrace sustainability in their production processes and reduce environmental impacts of manufacturing.
BGMEA seeks NBR support to sustain RMG industry's global competitiveness amidst ongoing challenges
In the light of Bangladesh’s efforts in sustainability, he noted that Orkim could supply advanced chemicals which hold the promise of significantly enhancing productivity, reducing dyeing time, and mitigating effluent-related concerns within the textile and apparel industry.
Such chemicals contribute to enhancing competitiveness and improve the capacity of sustainable manufacturing of garment and textile industry, he added.
The BGMEA President requested Orkim Chemicals to encourage their clients, including those prospective buyers who have not yet bought garments from Bangladesh, to source apparels from the country.
BGMEA urges NBR to speed up customs, bond services for RMG sector
Orkim Chemicals is a leading Turkish company supplying chemicals to the garment and textile industry.
Export-import through Benapole suspended over trucker’s death in India
Exports and imports between Bangladesh and India through Jashore’s Benapole landport have remained suspended since Thursday morning due to a barrier by India’s Border Security Force (BSF) to return the body of a Bangladeshi truck driver who died there on Wednesday.
Leaders and workers of truck, lorry, motor workers’ associations enforced the strike since 11 am and the activities will remain suspended until the body is sent back.
Md Shahin Hossain, general secretary of Benapole Truck Workers’ Union, said a truck carrying jute products from Faridpur’s Golden Jute Industries went to India's Petrapol landport on Wednesday.
Read: Export-import through Benapole land port suspended
As products from the truck were not fully unloaded, trucker Nazmus Shahadat Babul stayed at the port on Wednesday night and suffered a stroke, he said, adding that the driver died there.
The authorities concerned didn’t send the body back despite repeated requests, he said.
Benapole C&F Staff Association’s General Secretary Sajedur Rahman said they came to know about the death of the trucker Babul from Petrapol C&F Welfare Association’s General Secretary Kartick Chakraborty.
Read: 173 tonnes of Hilsa exported to India in 3 days through Benapole port
Quoting Kartick, Sajedur said the BSF is barring from sending back the body due to unknown grounds.
Local transport workers threatened that they wouldn’t do any work until the body is back.
Rezaul Karim, officer-in-charge of Benapole port, confirmed the death of the driver saying that the body will be sent back to Bangladesh upon conducting autopsy and completing legal procedures.
Read more: 3 ‘smugglers’ arrested with 2.9 kg gold from Benapole border
Three-day Expo on ‘marine and offshore items’ kicks off in Dhaka
A three-day exhibition on ship building, ship recycling, offshore oil and gas support, shipping, logistic and port, fishing vessels and fishery, process automation kicked off on Thursday at the International Convention City Bashundhara (ICCB), Dhaka.
The exhibition titled ‘Bangladesh International Marine and Offshore Expo, 2023 or BIMOX-2023’ was inaugurated by Khalid Mahmud Chowdhury, State Minister of the Shipping Ministry. Special guest Thijs Woudstra, Chargé d'affaires of the Embassy of the Kingdom of the Netherlands, cut the ribbon at the event, said a media release.
Read: Three-day maritime event hosted by Netherlands Embassy begins in Dhaka
Rear Admiral Mohammad Musa, Vice Chancellor of Bangabandhu Sheikh Mujibur Rahman Maritime University, Rear Admiral Golam Sadeq, Chairman of Payra Port Authority, Rear Admiral Mir Ershad Ali, Chairman of Mongla Port Authority, Commodore Mohammad Maksud Alam, Director General of the Department of Shipping, Commodore Arif Ahmed Mostafa, Chairman of Bangladesh Inland Water Transport Authority (BIWTA), Md Faizul Alam, Managing Director of the Savor International Limited, among others, were present at the inauguration ceremony.
Addressing the event, State Minister Khalid said, “We are offering a lot of facilities to the users of the ports in Bangladesh. We are trying to make the ports as 'smart ports' by using information and technology so that these can take the role of game changer in the economy of Bangladesh.”
He further said, “We are leading the way in shipbuilding and ship recycling sectors. We have taken various steps including modernizing sea ports to facilitate trades. Besides, we have taken many initiatives so that mother vessels can enter into the ports smoothly.”
Read: With its geostrategic location, Bangladesh is a key maritime power: BIPSS
Thijs Woudstra said, “For 50 years, the Netherlands and Bangladesh have maintained a productive and friendly partnership. Maritime cooperation between the countries is steadily growing. Our companies and knowledge institutes are actively engaged in Bangladesh in key areas such as ship building and repair, port development and management, costal and delta management education and training and research and innovation.”
Savor International Limited with the international alliance with Fireworks Trade Media Group of Singapore organized the exhibition. BSMRMU, BMA, NMI, BMFA, BPMA, BIWTA, DoS, CPA, MPA, PPA, DWASA, BCCCI, SIAA, CRUZ Expos, have joined as associate partners of the exhibition.
The purpose of the exhibition is to demonstrate new innovative, technologies, materials, equipment, method etc. in concern sectors and explore the avenue for the participants, organizations, and patrons in a single domicile. The exhibition will continue till October 14 from 10 am to 7 pm every day.
Read more: PM Hasina’s leadership praised at IMO for empowering women in maritime sector
Walton to unveil advanced features fridges at China's Canton Fair
Bangladesh's electronics giant Walton will showcase world's most advanced technologies refrigerators at the 134th Chaina 'China Import and Export Fair,' popularly known as 'Canton Fair' around the world, to begin from 15th October this year at Canton Fair Complex in the Guangzhou of China.
Bangladesh’s electronics giant Walton is going to participate in the world’s largest trade show for the third time to showcase the ‘Made in Bangladesh’ labelled world-class advanced technologies’ consumer electronics products including the AIoT-based smart refrigerators, said a press release.
Walton Refrigerator’s Chief Business Officer (CBO) Tofail Ahmed said, “A total of 11 models of huge energy saving fridges of European ACC brand and Bangladesh's Walton brands will be displayed. Among these models, there are included South Asia's first manufacturing four-door smart refrigerators and the world's first 8in1 convertible side by side door smart fridge. Along with these models, some others models of fridges, including Combi model, multicolor model, beverage coolers and ice-cream freezers, will also be displayed in the fair. Optimized cooling circuit and worldwide recognised environment-friendly R600a refrigerant have been used in those models to ensure more energy efficiency.”
He also said, the world through this fair will know the abilities of Bangladesh in manufacturing high-tech products. Walton fridge is the No-1 brand in Bangladesh.
Now, our target is to become one of the best global brands soon. Canton fair will play a significant role to fulfill Walton’s dream of becoming the global brand, he added.
At 'Canton Fair', Walton will exhibit the models of convertible mood refrigerators; including AIoT based 9in1 convertible mood four-door GT Pro Max model, 8in1 convertible mood side by side door GT Pro model and Combi model. The customer can set the cooling performance of the fridge and freezer compartment with the world's highest convertible mood. Thus, each model will consume less electricity.
For having smart control feature, customer can control the cooling settings with a touch of the upper door without opening the fridge door. And thus, the result is huge power saving with maximum cooling performance, added the release.
The GT Pro Max model has a 21.5-inch multimedia LCD display for YouTube browsing, online grocery shopping, offline video and audio, countdown clock, online recipes, clock, calendar, internet browsing, selfie camera, weather update etc.
GT series fridges have trio and duo cooling setting. For using AI based MSO (Matrix Speed Optimization) inverter technology in GT series fridges, customers no need to worry about cooling performance, power consumption and settings. The AI system gets 3D data from environment temperature, difference of set and exact temperature of the compartments as well as door-open duration.
Special features of Walton’s four-door GT Pro Max and side-by-side door GT Pro models include a water dispenser. Walton’s beverage cooler designed with latest technologies and features has attractive multimedia display so that users can watch and telecast videos and commercials ads easily through pen drive.
RMG exports to EU up 11.47% in July-September of FY 2023-24
As per the latest statistics of the Export Promotion Bureau (EPB), readymade garment export to the European Union reached US$ 5.51 billion during July-September of FY 2023-24, 11.47% up compared to the same period of the previous fiscal year.
Read: CPD recommends minimum wage of Tk 17,568 for RMG industries
“Our exports to Spain, France, Netherlands and Italy showed 23.26%, 8.67%, 18.97% and 23.22% growth respectively. On the other hand, export to Germany, the largest export market in the EU, declined by 4.41% with an amount of US$ 1.45 billion compared to the July-September 2022-23 FY, said a press release sent by Mohiuddin Rubel, director at BGMEA.
Read: BGMEA seeks NBR support to sustain RMG industry's global competitiveness amidst ongoing challenges
“Our RMG export to the USA stood US$ 2.07 billion in the first three months of FY 2023-24 with 2.77 % growth. At the same time, exports to the UK and Canada reached US$ 1.45 billion and US$ 352.86 million, with 21.35 % and 5.44% growth respectively,” he said.
During July-September, of FY 2023-24, apparel export to non-traditional markets grew by 24.93% to US$ 2.24 billion from US$ 1.80 billion in the corresponding period of previous year, said the BGMEA director.
Read more: 6 RMG workers dead after bus runs them over on highway in Trishal
Among the major non-traditional markets, exports to Japan, Australia and South Korea increased by 39.44%, 54.11% and 37.01% respectively but export to India declined by 7.69%, he added.
Fashion World Tokyo: Bangladesh Ambassador urges Japanese companies to source more quality products from Bangladesh
Bangladesh Ambassador to Japan Shahabuddin Ahmed has urged Japanese companies to source more quality products from Bangladesh.
Bangladesh participated in Fashion World Tokyo (FaW), held from October 10-12, at the Tokyo Big Sight in Japan.
Also read: Japan-Bangladesh business cooperation will grow further: speakers
With around 1150 exhibitors, the Fashion World Tokyo is the largest trade show for the fashion industry in Japan, gathering all kinds of apparel, bags, shoes, textile, leather, fashion accessories sourced from all over the world.
Under the market development initiative of the Export Promotion Bureau (EPB), Ministry of Commerce, Bangladesh, 17 reputed exporters belonging to the apparel and leather industries participated in the event.
Also read: PM Hasina offers land to Japanese businesses to set up industries
Ambassador of Bangladesh to Japan Shahabuddin Ahmed inaugurated the Bangladesh pavilion and visited Bangladeshi booths as well as NRB exhibitors on the first day of the trade show.
The exhibitors expect that Bangladesh’s participation in Fashion World Tokyo will play a significant role to retain the prevailing market share and augment export to the Japanese market, said the Bangladesh Embassy in Tokyo.
Also read: Investment in Bangladesh will bring huge success: PM Hasina to Japanese businesses
The Bangladesh Embassy organized a seminar on ‘Made in Bangladesh Textile, Leather and Jute products’ on the second day of the fair at Tokyo Big Sight.
Kiminobu Hiraishi, President of Maruhisa Co. Ltd. and Toshinao Okunaka, President of Marutomi Co. Ltd., delivered presentations on their business experiences in Bangladesh while Dr. Ariful Haque, Minister (Commerce) of the Embassy highlighted on sustainable factories in Bangladesh and opportunities for Japanese companies as well as support services by the embassy.
In the evening on the same day, a networking dinner reception was organized by the Embassy at a local hotel with the participation of the exhibitors, representatives from Japanese companies and entities, and Embassy officials.
Mayumi Murayama, Executive Vice president of Japan External Trade organization (JETRO) was the special guest.
She praised Bangladesh’s economic success over the years and assured to continue JETRO’s support for strengthening Bangladesh-Japan trade relation.
EPB has been participating in the fair with a good number of exporters along with leading sector players for over a decade. Bangladesh’s export to Japan was USD 1.9 billion in 2022-23, which was significantly higher than the previous year.
BGMEA seeks NBR support to sustain RMG industry's global competitiveness amidst ongoing challenges
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) underscores the crucial role of the National Board of Revenue (NBR) in achieving the Sustainability Strategic Vision 2030 for the country's ready-made garment (RMG) industry.
This vision focuses on bolstering the RMG sector's competitiveness while concurrently fostering sustainable growth.
Also read: Indian delegation meets BGMEA president to discuss trade,investment potential
Faruque Hassan, president of BGMEA, emphasized this during a recent meeting with NBR Chairman Abu Hena Md Rahmatul Muneem at the NBR office in Dhaka on Wednesday.
The meeting aimed to discuss the current state of the RMG industry, global trade trends, and their impact on Bangladesh's economy.
Hassan stressed the significance of NBR's support and cooperation in realizing this vision. He highlighted that streamlined and expedited business procedures and services are essential to maintain the RMG industry's global competitiveness.
Also read: BGMEA urges NBR to speed up customs, bond services for RMG sector
The fashion industry's evolving dynamics, including the demand for shorter lead times in high-end garments, necessitate the need for prompt and hassle-free services to sustain the RMG industry's global position.
President Faruque Hassan further emphasized that NBR's vital support is required to retain the RMG sector's export competitiveness and growth momentum, particularly in the post-Least Developed Country (LDC) era.
The LDC graduation introduces new opportunities and challenges, including changes in the tariff regime, requiring strategic measures to preserve the industry's competitiveness in the post-LDC period.
Also read: BGMEA calls for government support to safeguard RMG sector in testing times
In parallel, BGMEA President Faruque Hassan held discussions with Md. Masud Sadiq, member (Customs: Policy and ICT), NBR, to address the challenges faced by RMG exporters, particularly those related to customs, bonds, and taxes. BGMEA seeks cooperation from NBR to resolve these issues.
In a separate meeting on the same day, a delegation led by Vice President Shahidullah Azim from BGMEA met with Hossain Ahmed, member (Customs: Export, Bond, and IT) at NBR.
The discussions centered on the current state of the RMG industry, its export targets, and the need for policy support to align with the evolving business landscape.
The delegation urged NBR to streamline customs, bond, and tax procedures to enhance the industry's competitiveness.
Robi launches Google’s Rich Business Messaging service
Robi Axiata Limited has become the country’s first operator to launch “Rich Business Messaging” (RBM), a messaging service by Google that enables business to send rich, interactive messages to their customers.
RBM messages can include text, images, videos, buttons, and other interactive elements, making it potentially richer and more engaging than traditional SMS messages. Due to its visual appeal, RBM messages are more likely to be opened and read by customers than traditional SMS messages, according to a press release.
Also read: Robi’s sustained investment improves network experience across country
RBM allows businesses to engage their customers in a more personalized and meaningful way by sending interactive messages and product catalogs, and even scheduling appointments seamlessly. Businesses can also facilitate robust customer service by offering its customers real-time channels to communicate with them, it said.
"Compared to basic SMS messages, Google RBM elevates communication to a whole new level with the use of dynamic visual support. With the highest penetration of smartphone devices (60%+) in the industry, Robi is in a commanding position to truly revolutionize the way businesses communicate with their customers through the introduction of RBM service,” said Robi's Managing Director and CEO, Rajeev Sethi
Also read: Robi launches sales academy
“We are immensely proud to be the first mobile operator in Bangladesh to offer this uniquely innovative service,” he said.
"Google RBM is a game-changer for businesses and consumers alike. It provides a dynamic platform for customers to interact with their favorite brands, access services, and get real-time support, all within the messaging app they already use every day," said Robi’s Chief Commercial Officer Shihab Ahmad.
Also read: Rajeev Sethi new CEO for Robi
"We are thrilled to deepen our engagement with Robi. Our collaboration will demonstrate our technical expertise in managing Google RBM in Bangladesh. Furthermore, it will enable Robi to expand its market reach in Bangladesh, driving momentum towards rich interactive messaging and accelerating the adoption of next-generation technology,” said Rajdipkumar Gupta, MD and Group CEO of Route Mobile.
“With the introduction of RBM business messaging in Bangladesh, we anticipate message volumes to reach 1 billion over the next 3 years,” he said.
Daraz supports South Asian female cricket athletes in achieving their goals
Daraz, the official e-commerce platform of the 19th Asian Games Hangzhou, has concluded its youth empowerment activation where it sponsored a full-expense paid trip for three aspiring female cricket athletes from Bangladesh, Sri Lanka and Nepal to Hangzhou to watch the Asian Games.
By providing them with a unique opportunity to witness the Women’s cricket matches in person at the prestigious event, Daraz aims to contribute to the growth and empowerment of women in sports, bringing them one step closer to their dreams, according to a press release.
Also read: Daraz celebrates 9th anniversary
The road to becoming a professional cricket player is not an easy one, especially for women. Recognizing the potential and determination of female athletes in South Asia, Daraz took a significant step to support their aspirations and promote gender equality in sports, it said.
The selected athletes, Tharushi Fernando from Sri Lanka, Nuzhat Sabah from Bangladesh, and Khushi Dangol from Nepal, are such female athletes who are defying the odds to achieve their dreams and represent their nations on the international stage, the release said.
Also read: Daraz introduces Seller Development Program for consumers
Nuzhat Sabah Firdaus reflected on her experience, saying, “I tried so many new things for the first time and learned a great deal about myself and others on this trip. It was also my first time watching the women’s cricket matches in person. I gained invaluable insights into the game itself, things I wouldn't have learned by simply watching it on television - which I believe will help me improve my skills as a cricket player. Thank you, Daraz, for this incredible opportunity!”
Cheryl Ang, Daraz Group chief marketing officer said, “Daraz was started nine years ago to uplift communities through the power of commerce, and today, our mission remains unchanged. Daraz recognises the significance of supporting aspiring athletes and promoting women's cricket at an international level, and aims to lead the charge in representing South Asia on a global stage.”
Also read: Nagad offers 16% cashback on payment on Daraz
“It's heartening to see how this experience has made a lasting impact on the lives of these three young ladies, and witness how they bonded over their mutual love for cricket. This has only further cemented our resolve to support more initiatives that empower the greater South Asian community, and we can’t wait to see what’s in store for us next,” the Group CMO said.
National Bank signs agreement with Bangladesh Bank to boost CMSME financing
An agreement was signed between Bangladesh Bank and National Bank Limited (NBL) on 'Financial Inclusion Credit Guarantee Scheme'.
Manoj Kumar Howlader, Director Credit Guarantee Department, Bangladesh Bank and Md. Mehmood Husain, Managing Director and CEO, signed the agreement on behalf of their respective organisations, according to NBL.
Also read: NBL holds 39th AGM
During the signing of the agreement at Bangladesh Bank's head office in Dhaka, Additional Director of Bangladesh Bank Credit Guarantee Department, Syed Himyanuddin Ahmed; Joint Director Md. Oliul Islam; National Bank's CRM (MSME) Division Head Md. Sahidul Islam; and other officials from Bangladesh Bank and National Bank Limited were also present.
Also read: Intraco signs contract with Sundarban Gas Co to supply gas from Bhola in CNG form
Under this agreement, National Bank through its branches will provide collateral-free loan facilities to marginal/landless farmers, low-income professionals, businessmen among whom are Tk 10,50,100 account holders and school banking account holders.
Also read: Islami Bank, Medix sign agreement on healthcare
The interest rate of the loan will be 7 percent. National Bank expects that the agreement will boost its Cottage, Micro, Small & Medium Enterprises (CMSME) financing.