The Ministry of Commerce has declared 77 industries as winners of the National Export Trophy for the fiscal year 2021-22. Among them, Rifat Garments Ltd is set to receive the highest award, the Bangabandhu Sheikh Mujib Export Trophy, according to a notification on Monday. State recognitions are given to different manufacturing sectors for bringing the highest export proceeds in the country each year. The companies will be awarded gold, silver, and bronze medals in different categories. Tarafder Sohel Rahman, deputy secretary, of the Ministry of Commerce signed a notification in this regard.  In the ready-made garment sector (Oven), Windy Apparels won Gold, Apparel Gallery Silver, and Chittagong Asian Apparels Bronze trophy. Govt okays project to provide freelancing training to youths in 48 districts In Readymade Apparel (Knitwear) Liberty Knitwear won Gold, Divine Intimates Silver, Flamingo Fashions Bronze Trophy. In the yarn category, Badsha Textiles won the Gold, Square Textiles Silver, and Kamal Yarn Bronze trophy. In the Textile Fabrics sector, Nice Denim Mills bagged Gold, Ha-Meem Denim got Silver and Four H Dyeing & Printing got the Bronze trophy. Commodity Sector Home and Specialized Textiles category Jaber & Jobair Fabrics got Gold, Momtex Expo got Silver, and ACS Textiles (Bangladesh) got Bronze trophy. In the Terry towel sector, Noman Terry Towel Mills gets the gold trophy and ACS Towel gets the silver trophy. In the frozen food sector, Pict Fish Processing Industries bagged the Gold, Priam Fish Export Silver, and MUC Foods the Bronze trophy. In the raw jute sector- Popular Jute Exchange gets Gold, Tasfia Jute Trading Silver, and International Jute Traders get the Bronze trophy. Janata Jute Mills gets gold and Akiz Jute Mills silver trophy in the jute products category. Picard Bangladesh gets gold and ABC Footwear Industries silver trophy in the leather goods category. In the footwear sector, Bay Footwear got Gold, Edison Footwear got Silver, and FB Footwear got the Bronze trophy. In the agricultural products sector (excluding tobacco), Indigo Corporation bagged gold, Mansoor General Trading Co. silver, and CSS International bagged the bronze trophy. HRFB demands justice over domestic worker’s death at journalist’s residence Habiganj Agro bagged Gold, Pran Agro Silver, and Pran Foods Bronze trophy in the Agro Processing Products category (excluding tobacco products). On the other hand, in the handicrafts sector, Karupanya Rangpur got gold, BD Creation got silver and Classical Handmade Products BD got the Bronze trophy. Melamine gets a gold trophy in durable plastic category while Silver and Bronze are not awarded in this category. In the plastic products sector, AllPlast Bangladesh Ltd got gold, Akiz Biox Films got silver and Banga Plastics International got the Bronze trophy. In the Ceramics category, Shinepukur Ceramics gets Gold, Artisan Ceramics Silver, and Pratik Ceramics Bronze trophy. In the light engineering sector, M&U Cycles bagged gold, Meghna Bangladesh silver, and Rangpur Metal Industries Bronze trophy. Walton Hi-Tech Industries Plc bagged the Gold and BRB Cable Industries got the Silver trophy in the Electrical & Electronics Products category. In the other industrial products category, Marine Safety Systems bagged Gold, Asia Metals Marine Services Silver, and Tasnim Chemical Complex won the Bronze trophy. In the pharmaceutical sector, Beximco Pharmaceuticals bagged Gold, Incepta Pharmaceuticals Silver, and Square Pharmaceuticals Bronze trophy. Service Engine gets gold and Golden Harvest Infotech silver trophy in the computer software category. Universal Jeans got Gold, Pacific Jeans got Silver, and Shasha Denims got the Bronze Trophy in the 100 percent Bangladeshi Owned (C Category) Manufactured Garment Industry Sector (Knit & Oven) under EPZ. In the packaging and accessories product category, Montrims bagged the silver and Uniglory Paper & Packaging the Bronze trophy. Bangladesh Safe Food Authority proposes new regulations to combat misleading food advertisements In other primary product categories, Hair Style Factory bagged the gold trophy, Roy Trade International got the silver and Eco Fresh International got the Bronze trophy. In the other services sector, Expo Freight gets the gold trophy and Mir Telecom gets the silver trophy. Besides, in the sector reserved for women entrepreneurs or exporters, Pioneer Knitwears (BD) got the gold trophy, Beacon Knitwear got the silver trophy and Ibrahim Knit Garments got the bronze trophy.

The government of Bangladesh will import 12,500 metric tons (MT) of sugar and 220,000 MT of fertliser to meet the domestic requirements. Cabinet Committee on Government Purchase (CCGP) in a meeting on Wednesday (May 17, 2023) approved a number of proposals in this regard. Finance Minister AHM Mustafa Kamal presided over the meeting held virtually. According to a proposal of the Commerce Ministry, its subordinate body Trading Corporation of Bangladesh (TCB) will import the sugar from Accentuate Technology Inc., USA (Local Agent: OMC Ltd., Dhaka) through an international open tender system at total cost of Tk 66.27 crore with per kilogram (kg) cost at Tk 82.85. Also Read: PM Hasina: Bangladesh won't buy anything from those who impose sanctions against it Additional secretary to the Cabinet Division Sayeed Mahbub Khan, who briefed reporters about the Cabinet body meeting, said while approving the proposal the issue of the Prime Minister’s instruction not to import any goods from any country which imposed sanction on Bangladesh was not discussed in the meeting. The committee approved two separate proposals of the Industries Ministry to import a total of 60,000 MT of urea fertilizer and 10,000 MT of phosphoric acid by its subordinate body Bangladesh Chemical Industries Corporation (BCIC). Also Read: Tariff Commission recommends fixing loose sugar price at Tk 120, packaged Tk 125 per kg Of these, 30,000 MT of bagged granular urea will be procured from Karnaphuli Fertilizer Company Limited (Kafco) at cost of Tk 120.03 crore with per MT price at $371.25 while another 30,000 MT bulk granular urea fertiliser will be imported from SABIC Agri-nutrients Company of Saudi Arabia at a cost of Tk 106.25 crore with per MT price at $327.33.  The BCI will import 10,000 MT of phosphoric acid at Tk 60.95 crore from Sun International FZE, UAE (Local Agent: M/s Agro Industrial Input, Dhaka) for TSP Complex Limited, Chittagong. Each MT of acid will cost $566.50. Also Read: Letter to be sent to NBR to extend duty exemption on sugar import: Commerce Secretary The CCGP approved a total of six proposals of Bangladesh Agriculture Development Corporation (BADC), placed by the Agriculture Ministry, for importing a total of 160,000 MT of different types of fertilizers. Of these, the BADC will import 40,000 MT of DAP fertilizer from MA'ADEN, Saudi Arabia at a cost Tk 229.33 crore, $532 under the state level contract. Also Read: Raid if sugar is not sold at govt-fixed rate: Tipu Munshi It will import 30,000 MT of TSP fertiliser from OCP, S.A. of Morocco at a cost Tk 126.57 crore, with each MT price at $391.50, under the state level contract while 40,000 MT of DAP fertilizer will be imported from the same company of Morocco at a cost of Tk 233.42 crore with per MT price at $541.5. The BADC will import 50,000 MT of Muriate of Potash (MOP) fertiliser from the Canadian Commercial Corporation under the state-level contract at a cost of Tk 225.23crore, with per MT price at $418. Also Read: Japan wants to invest in sugar industry, biomass power, prepaid gas meters in Bangladesh The CCGP approved a proposal of the Local Government Division to extend the cost of the consultant by Tk 11.1 crore for its project "Water Supply and Sanitation in 23 Municipalities of Bangladesh (1st Revised)" being implemented by the Department of Public Health Engineering. Joint Venture of (1) Ranhill, (2) Farhat and (3) DDC had been appointed as consultant for the project. Also Read: Sugar disappears from Dhaka stores amid high price

Commerce Minister Tipu Munshi on Thursday said his ministry will continue its advocacy with other ministries to simplify the process of obtaining certificates and registration, including five-year trade licences to ensure ease of business. He said this when Business Initiative Leading Development (BUILD) Chairperson Nihad Kabir paid a courtesy call on him at the Ministry of Commerce. As part of it, the Ministry issued a notice in November 2022 to provide Import Registration Certificate (IRC) and Export Registration Certificate (ERC) for five years rather than one, he added. Read more: Measures in place to ensure supply of essentials in Ramadan: Tipu Munshi Referring to the BUILD request for complete automation of RJSC (Registrar of Joint Stock Companies and Firms) services, he said, “We will go for full-scale automation, and we will be going through some internal proceedings while we aspire to be a paperless office in delivering faster business registration services online.” BUILD Chair Nihad Kabir expressed concern over the high paid-up capital requirement for one-person companies (OPC). As a result of the enforcement of high paid-up capital, the nation has yet to see the predicted rise in OPC. The existing paid-up capital of Tk 2.5 million should follow the example of private limited companies. She urged the commerce minister to consider eliminating the Tk 25 lakh minimum paid-up capital requirement for one-person companies while leaving the maximum limit open. She also advocated for eliminating the necessity for a commercial address when applying for a trade licence to facilitate company operations throughout the country. “The government has extended the validity of all trade licences by five years to reduce the hardships faced during the annual renewal of these certifications, which involves considerable time and effort that, in turn, affects the ease of doing business, and we appreciate it,” said MCCI President Md Saiful Islam. “Following the examples of IRC and ERD of five-year terms, other agencies can issue licences and relevant certificates,” he commented. Read more: LCs under scanner to check money laundering: Tipu Munshi Having stressed the need to simplify obtaining a trade licence, he advised that the government could digitalise the trade licence process collecting all relevant fees five years apart and transferring the revenue under the head to pertinent agencies that earn income for providing the licences. BUILD CEO Ferdaus Ara said that the notification for five years terms trade licence is a great move, but the notification was not meant for the municipalities and union parishad, which opens the concerns of the private sectors as they issue trade licences for thousands of small businesses regularly. The commerce minister endorsed it. She further said that BUILD and the Ministry of Commerce prepared export roadmaps on plastic, leather and light engineering sectors targeting the export of USD 22 billion, USD 12.9 billion, and USD 12.56 billion by 2030, respectively. Underscoring the need to implement the roadmap’s action plans, she said that the Ministry of Commerce could take the lead and contribute to the country’s export basket. During her presentation, she appraised some research and survey-related activities and assured more collaboration with the Ministry of Commerce while the country is transitioning to a developing country. DCCI President Sameer Sattar also attended the meeting.

Bangladesh's Prime Minister Sheikh Hasina on Sunday (January 01, 2023) inaugurated the 27th edition of the ‘Dhaka International Trade Fair (DITF)-2023. The largest annual commercial and trade event of the country is being held at its permanent venue – “Bangabandhu Bangladesh-China Friendship Exhibition Centre '' – at Purbachal on the outskirts of the capital for the second time. Commerce Ministry and the Export Promotion Bureau (EPB) have organised the month-long fair. Commerce Minister Tipu Munshi, Textiles and Jute Minister Golam Dastagir Gazi, Commerce Secretary Tapan Kanti Ghosh, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md. Jashim Uddin and EPB Vice Chairman AHM Ahsan were present at the programme. Read more: PM opens distribution of free textbooks This year, a total of 331 stalls and 17 pavilions have been leased out to various local and international organisations. The international trade fair will open at 10 am every day and close at 9 pm. On government holidays, the fair will run till 10pm. Ticket price for the adults has been fixed at Tk 40 while for children at Tk 20. Besides, visitors will get a 50 percent discount on tickets if they book from online. Read more: PM Hasina buys Dhaka's first metro rail ticket to become its first passenger The government will provide a transport facility to reach the fair venue as 70 BRTC buses have been pressed into service in this regard. These will run from Kuril flyover to the fair venue. Visitors will be able to travel in these buses with a minimum fare of Tk 35. Traders from 10 countries are participating in the fair this year with 17 organisations. The Dhaka International Trade Fair was first held in 1995. Read More: BSCIC stall wins Gold Trophy at 26th Dhaka International Trade Fair

The commerce ministry has emphasised public-private partnership for product diversification along with the need to have skilled workers to face post-LDC graduation challenges. Commerce Secretary Tapan Kanti Ghosh stressed ensuring quality education, training, good health, and a sustainable working environment to have skilled workers, which is required to face the competition in the post-graduation era. He was speaking at a discussion organised by the Bangladesh Foreign Trade Institution (BFTI) in Dhaka Thursday. The BFTI is conducting research on the "identification of trade-related challenges and preparation of a sector-specific trade roadmap for overcoming the challenges." Four sectors – apparel, shipbuilding, agro, and food processing – along with fisheries and livestock are being specified in the roadmap for facing post-LDC graduation challenges. Read: Commerce Ministry to launch real time app for monitoring prices Export Promotion Bureau Chairman AHM Ahsan, WTO Cell Director General Md Hafijur Rahman, Dhaka University Chairman finance department Chairman M Jahangir Alam Chowdhury, Metropolitan Chamber of Commerce and Industries President Md Saiful Islam, and Bangladesh Garment Manufacturers and Exporters Association Director Asif Ashraf were present at the meeting.

The Commerce Ministry has set the price of packed sugar at Tk 95 per kg, loose sugar at Tk 90, and palm oil at Tk 125 per litre. The ministry on Thursday issued a notification in this regard as per the recommendation of Bangladesh Trade and Tariff Commission (BTTC). Until today, the price of palm super oil (unbottled) was selling at Tk 133 per litre and packed sugar at Tk 89 per kg at the retail level. The price of palm oil decreased by Tk 8 per litre and the price of sugar rose by Tk 6 per kg. Read: Prices fixed: Palm oil Tk 12 cheaper, sugar to cost Tk 6 less at retail level The commerce secretary Tapan Kanti Ghosh told reporters on Thursday that the new tariff will be effective immediately.   The government raised sugar prices as per the application of sugar refiners and decreased palm oil prices adjusting the domestic price with the global market. According to the recommendations of BTTC, a concern of the ministry, per litre palm super (unbottled) oil will be sold at Tk 120 in millgate, distributors will sell it at Tk 122, and at the retail or consumer level, it will be sold at Tk 125. Each kg of loose sugar can be bought at the millgate at Tk 85, at the distributor level at Tk 87, and at the retail level at Tk 90. And the distributors will buy packaged sugar at Tk 90 at millgate and sell it at Tk 95 at the consumers’ level.

Police on Tuesday foiled a bid  of Leftist Democratic Alliance(LDA) activists to besiege the Commerce Ministry as a protest against soaring prices of daily essentials including soyabean oil. LDA activists gathered in front of the secretariat in the morning with placards and banners as part of their prescheduled programme.  Also read: Fakhrul demands withdrawal of soybean oil price hike

Finally putting an end to weeks of speculation and uncertainty, the Commerce Ministry has decided to increase the price of bottled soybean oil by Tk 8 per liter. The price of bottled soybean oil will now be Tk 168 per liter. The price of 5 liters of bottled soybean oil will be Tk795, which was Tk 760 earlier. In January, The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association (BVORVMA) proposed to the Commerce Ministry to increase the maximum retail price (MRP) of edible oil by Tk 8 to Tk 168 per litre. Also readL Edible oil price may go up further: Tipu Munshi The ministry decided to increase the price on Sunday after a lapse of about a month in the name of verification and reviewing the application. Commerce Secretary Tapan Kanti Ghosh told UNB that the price of soybean oil has been adjusted considering the international market price. Meanwhile, the Ministry of Commerce delayed the decision, but soybean oil prices rose sharply in the market. According to the Trading Corporation of Bangladesh (TCB), bottled soybean oil is currently being sold at Tk155 to Tk165 per liter. Also read: No hike in edible oil prices in 15 days, readjustment after that: Minister Last October 19, the ministry increased the price of bottled soybean oil by Tk 7 per liter to Tk 160. Before that on May 27, the price of soybean oil was increased by Tk 9 per liter.  

The businessmen of e-commerce platforms have to take digital business identification number (DBID) for doing business from now on. The Ministry of Commerce on Sunday formally launched the DBID App at its conference room in the secretariat in order to bring discipline in the e-commerce sector in Bangladesh. After revealing different scams of e-commerce companies in recent months, the ministry has taken a move to bring all the e-commerce companies and individuals under a single umbrella. Also read: FBCCI to work for restoring confidence in e-commerce sector As a result, those who will do business online through Facebook will have to come under registration. Commerce Minister Tipu Munshi inaugurated the app as the chief guest. Adviser to the Prime Minister’s on Private Industry and Investment Salman F Rahman, State Minister for Information and Communication Technology Junaid Ahmed and Commerce Secretary Tapan Kanti Ghosh were present on the occasion. Launching the app, registrations were provided to Chaldal.com, Rokmari.com, Ajkerdeal, Sajgoj, Akhi’s Collection on the day. Read Ecommerce, pharma to see higher salaries in India, but less so for hospitality: Aon survey Commerce Minister Tipu Munshi said, "We started with DBID, and more systems will be introduced for the e-commerce sector in phases.” Replying to a query the commerce minister said, “We are discussing who are in jail for e-commerce related cases, to find a solution.” State Minister Junaid Ahmed said the e-commerce sector could provide employment to 5 lakh people by 2025. Also read: BFIU summons bank accounts update of 30 e-commerce companies “Two new approaches will be introduced in the next six months to make the e-commerce sector more reliable for the future. With a tracking system can be found out where the product is going. Another can be easily transacted,” he added.

The month-long 26th Dhaka International Trade Fair (DITF) ends on Monday. The ministry of commerce will hold the closing ceremony at the Bangabandhu Bangladesh-China Friendship Exhibition Center, the permanent venue of the fair at Purbachal of the capital. Commerce Minister Tipu Munshi will be the chief guest in the closing ceremony. The trade fair did not take place last year due to the Coronavirus pandemic. The fair was held at a permanent venue in Purbachal for the first time this year. However, due to the new venue and Covid-19, the gathering of consumers was not as much as expected. Read:Trade fair to continue maintaining health guidelines Md. Iftikher Ahmed Chowdhury, director of the trade fair and secretary of the Export Promotion Bureau (EPB), told UNB, "We are instructed not to extend the fair time. Moreover, traders verbally asked for extension of the fair time but no one formally applied.” "It simply came to our notice then. So Monday is the last day of the fair. We are preparing for the closing ceremony of the fair. ' The number of stalls at this year's fair was half that of other years. There were 23 pavilions, 27 mini pavilions, 162 stalls and 15 food stalls of different categories. The stalls at the Agargaon fair were more than double than this year’s.