Browse Tag

RMG

Govt, exporters must prepare for GSP plus

The Bangladesh government and the readymade garment exporters need to start necessary groundwork for availing the GSP plus benefit in the EU market as the country would lose generalised system of preferences in the market once it achieves middle-income country status. This was the message from member of the European Parliament Sajjad Karim. GSP Plus‘Bangladesh garment industry needs a move from GSP to GSP plus and it is essential that we start the groundwork now,’ the visiting European Parliament member told mediapersons after a meeting with the Ba...

India to export cotton fabrics to Bangladesh

The Cotton Textiles Exports Promotion Council (TEXPROCIL) has welcomed the inclusion of exports of cotton fabrics – both woven and knitted - to Bangladesh and Sri Lanka under the Merchandise Exports from India Scheme (MEIS) vide Public Notice No. 27 dated July 14, 2015 issued by the Director General of Foreign Trade (DGFT). [caption id="attachment_18353" align="alignright" width="432"]R.K.Dalmia – Chairman – TEXPROCIL R.K.Dalmia – Chairman – TEXPROCIL[/caption] This is a very positive step taken by the Governm...

Bangladesh hopes green means go

Like Thailand, Bangladesh is suffering from prolonged political unrest and subdued economic activity. For a time earlier this year it seemed Moody’s Investor Service might downgrade the country’s credit rating due to the ongoing tensions on the ground, although in the end it held off from doing so. green goOpposition party-led strikes have weighed on the economy, prompting the International Monetary Fund in March to clip its growth forecast for the fiscal year to June-end to 6% from 6.4%. The Bangladeshi government had been targeting a 7.3% growth ...

BD RMG industry can be a role model for Africa

Historically, the path to wealth for nations has run through manufacturing. Manufacturing gives you a way to quickly move a lot of people from low-productivity farming to higher-productivity jobs without requiring that they pick up lots of new skills first. And the garment industry fits the bill admirably; it does not not require lots of expensive infrastructure or a skilled population that can supply and maintain fancy machines, and it does use lots of low-skilled labor. Once you get people through the factory gates, their higher productivity and earnings will support improvements in infrastructure, education and services, that can fuel further growth. Eventually, one hopes that your country will get too rich to support much garment manufacturing, because workers will be able to comman...

GSP facility to US market by April, hopes Tofail

Bangladesh will regain the GSP facility to the US market by next April, Commerce Minister Tofail Ahmed on Sunday hoped. He said, the government is working sincerely to fulfill the conditions tagged for regaining it. “We are working sincerely to fulfill the conditions so that GSP facility could be regained in the US market. I hope, the GSP facility is likely to be resumed by April this year,” he told a meeting with a DCCI delegation. Bangladesh-rmg-worker The board of directo...

Incentives to lower revenue from RMG sector: CPD

Government incentives to apparel exporters is estimated to cause about Tk 500 crore lower revenue from the sector, said a CPD report published on Saturday. CPD-GarmThe report, titled ‘Analytical Review on Bangladesh’s Macro-economic Performance in FY2013-14’, said, “The revenue foregone from reduction of advanced income tax (AIT) on apparel exports alone could be worth more than Tk. 500 crore.” “The recently announced incentives to business may also result in somewhat lower tax collection,” said the report, “T...