Tag: BGMEA
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BGMEA: Sammilito council wins, SM Mannan becomes new president
Later, election board leader and former president of Bangladesh Textile Mills Association (BTMA) Jahangir Alamein announced the results at midnight. Samilito Parishad leader SM Mannan Kochi won a landslide victory with a maximum of 1,510 votes, securing the presidency and leading his panel to victory.
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EU trade regulations: risks of sanctions and fines for non-compliance in Bangladesh
The International Business Forum of Bangladesh (IBFB) organized the roundtable, which was attended by Charles Whiteley, EU Ambassador and Head of Delegation to Bangladesh, as the chief guest. The meeting was presided over by IBFB President Humayun Rashid. EU Deputy Chief of Mission, Bernd Spanier delivered the keynote address, while Bangladesh Garment Manufacturers and Exporters…
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Bangladesh overtakes China to become EU’s largest knitwear exporter: BGMEA
BGMEA President Farooq Hasan revealed the data in a letter to journalists and BGMEA members on Monday. Farooq Hasan said in the letter that Bangladesh exported 1.33 billion kilograms of knitwear to EU countries last year, leaving behind China, which exported 1.31 billion kilograms. However, Bangladesh brought in US$7.30 billion from knitwear exports, which was…
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Buyer agrees to remove controversial ‘clearance-clause’ from LC: BGMEA
Initially the special LC issued by Standard Chartered Bank Dubai contained a clause, “We will not process transactions involving any country, territory or party sanctioned by the United Nations, the US, the European Union, the UK. We will not cause any delay Are not responsible for.” Non-performance or/disclosure of information for reasons of restriction.” According…
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American apparel company sets condition of not buying apparel if Bangladesh is banned
Confirming the matter, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Farooq Hasan told Prothom Alo on Wednesday that a buyer organization has included a general condition in its LC. It said that if Bangladesh faces any sanctions then they will not get any products. He further said that the company also clarified that even…
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Government and business leaders discuss addressing weaknesses in labor rights at Commerce Ministry meeting
Businessmen who attended the meeting said that currently, trade union registration requires signatures of 20 per cent of workers, and an initiative has been taken to reduce this requirement. Under the proposed amendment to the Bangladesh Labor (Amendment) Bill-2023, if the total number of workers in an organization is up to 3,000, 20 percent should…
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Yangon rises to the top as local companies flourish
Yangon Corporation’s exports were less than US$2 million two decades ago. The company, owned by South Korean entrepreneur Sung Ki-hak, had only seven warehouses in Dhaka and Chattogram at the time. The Yangon Corporation was building the Korean Export Processing Zone (KEPZ) on 2,492 acres of land at the time. Various companies started operations in…
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BGMEA President to simplify customs, bond, VAT related services
He made the remarks while addressing the inaugural function of ‘Three Months Certificate Course on Customs, Bonds, VAT, Taxes and SD’ as the chief guest. The event was organized by Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) in association with Bangladesh Tax Training Institute (BTTI) in Dhaka on Sunday. Azizur Rahman, Commissioner,…
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BGMEA leaders reluctant to quit even as their term ends
Prothom Alo tried to contact BGMEA President Farooq Hasan on mobile phone several times over the past two days, but he did not respond. Prothom Alo also sent a WhatsApp message to the BGMEA President along with a copy of the Forum’s letters to the Ministry and he too did not respond. Sammilita Parishad, an…
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BGMEA to collaborate with Taiwan research institute for capacity building of RMG industries
Faisal Samad and Abdullah Hill Rakib, directors of BGMEA, and Justin Huang, president of Taiwan Textile Federation, were present at the MoU signing ceremony held on May 4 in Taipei, Taiwan. As per the understanding, Taiwanese companies will also work under this umbrella to share their expertise and know-how to Bangladeshi companies. It will also…
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Garment factory not renovated even after 10 years
A decade has passed since Rana Plaza was razed. However, the renovation of the garment factories is not over yet. The work started slowing down after the alliances formed at the initiative of the European buyers left Bangladesh. Accord, a consortium formed at the initiative of the European buyers, left Bangladesh in June 2020. Since…
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Bangladeshi products able to gain trust of Saudi buyers: Commerce Minister
Bangladesh Ambassador to Saudi Arabia Mohammad Javed Patwari and Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Farooq Hasan also spoke on the occasion. The program was presided over by AHM Ahsan, Vice Chairman, Export Promotion Bureau (EPB). Describing Saudi Arabia as a reliable friend of Bangladesh, Tipu said that Saudi Arabia is also a…
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With threat of US review looming, Bangladesh scrambling to explain alleged exports of knock-off brand clothing
Hatem, executive president of BKMEA, who attended the meeting, said, “So far, we have not received any complaint from our buyers that Bangladeshi companies are producing and exporting garments with copycat logos of famous brands. ” Hatem said the US trade body had made allegations against some countries, including Bangladesh, last year. Bangladesh is the…
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Launched as newly established Bangladesh-Turkey Business Forum Trust
Launched as newly established Bangladesh-Turkey Business Forum Trust
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Big business brings danger to small people
The gas tariff was increased on 18 January. Prime Minister Sheikh Hasina told the national parliament the same day, “If they (businessmen) want uninterrupted gas supply, they will have to pay the price at which the government is buying gas. There is no point in giving subsidies.” Disappointment prevailed among the business leaders after the…