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Accord, Alliance will not be extended: Commerce Minister

Commerce Minister Tofail Ahmed today said the government will not extend the staying period of Accord and Alliance after their tenures are expired. Staying period of Accord, a platform of mainly European retailers, ends today (May 31) while Tofael_ahmed_tenure of Alliance, another platform of North American brands, will come to an end in July 2018, reports BSS. “We’ll not extend their staying period in Bangladesh. After the end of their tenures, they will get six months to wrap up their operations,” said Tofail ...

Fast fashion industry at risk from bank trouble

Fast fashion is at risk of hitting a speed bump if a looming crisis sweeps through Bangladesh’s banking sector. Financial institutions in the south Asian nation face a credit crunch following mass deposit withdrawals in March and soaring levels of non-performing loans. Analysts and investors fear a full-blown crisis could spill over into Bangladesh’s strongest link to the global economy — the production of textiles and ready-made garments for fast fashion brands and retailers such as H&M, American Eagle Outfitters, Zara, Walmart and Target. “Although the loan book composition across commercial banks in Bangladesh tends to vary

BD aims to grow 10pc of cotton usage by 2025

Bangladesh, which grows about 180,000 bales (1 bale=218 kgs) of cotton in a year or 1 per cent of the annual demand, now aims to grow I million cotton bales by 2025. The country is now the biggest importer of cotton in the world and spends more than $3 billion on cotton imports annually, of which, India meets 50 per cent of the current cotton demand. Speaking at a press conference, Mehdi Ali, general secretary of Bangladesh Cotton Association cotton(BCA) said, “We have targeted to meet 10 per cent of our yearly demand from domes...

Textile seminar to focus on sustainability

Bangladesh textile seminar that will kick off from February 16 will focus on sustainability in the textile industry. The two-day programme will analyse the Bangladesh textile industry to undertake various corporate social responsibilities. The summit is a platform to connect with textile industry peers, existing customers and potential clients. rmgbdThe conference aims at analysing the Bangladesh textile industry in order to get a better understanding of its textile market and avoid the risks while finding opportunities. The ...

‘New apparel export markets will benefit Bangladesh’

A top advisor to the Bangladeshi prime minster has suggested that the Bangladesh apparel export industry should explore new markets, rather than just concentrating on exporting to the US and the EU. Dr Gowher Rizvi, international affairs adviser to the prime minister observed this while speaking at the ‘BIDS Research Almanac 2016’ held in Dhaka. rmgA leading Bangladeshi daily quoted Dr Rizvi as saying that exploring new regions and countries like Eastern Europe, Central Europe, Africa and Turkey, would accelerate growth and human ...

‘Efficient use of resources will boost RMG exports’

Bangladesh will have to improve the methods of using resources in the textile sector if it intends to reach the target of $50 billion in the readymade garments (RMG) exports. Speakers at a workshop on ‘Reducing Water & Recovering Heat’ highlighted the importance of improving the production efficiency of textile sector using sustainable methods. The workshop that was held in Dhaka, was jointly organised by Partnership for Cleaner Textile (PaCT) program of International Finance Corporation (IFC), World Bank Group, and the Textile rmgbd