BGMEA seeks collaboration with apparel brands in producing high-end products
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has called upon global apparel brands to collaborate with their suppliers to build their capacities in manufacturing high-end apparels, especially non-cotton items and textile textiles. He also urged the brands to increase their sourcing from Bangladesh in the coming days, according to BGMEA. Faruque mentioned diversification of products as a key to ensure sustained growth of Bangladesh’s apparel industry. A delegation of BGMEA led by President Faruque Hassan has joined the Executive Summit of American Apparel & Footwear Association (AAFA) being held in Washington D.C. to represent the apparel industry of Bangladesh and showcase its success stories and potential among international brands and buyers. READ: BGMEA for strengthening diplomatic efforts to expand exports to US The delegation comprised Vice President Miran Ali, Directors Abdullah Hil Rakib and Barrister Vidiya Amrit Khan, and Chairman of BGMEA Standing Committee on Foreign Mission Cell Shams Mahmud. The AAFA Executive Summit 2022 has brought together senior level executives from retail, apparel, footwear, and fashion accessory brands from the U.S. and the globe for two days of thought-provoking dialogue. On the sideline of the event, the BGMEA leaders met with senior representatives of leading apparel brands including Halide Alagöz, Executive Vice President, Chief Supply Chain and Sustainability Officer at Ralph Lauren Corp, Christopher J. Volpe, Chief Operating Officer and Chief Financial Officer at United Legwear and Apparel Co. and Chris Gleeson, Director, Global Marketing, YKK (USA) Inc on Thursday. During the meetings the BGMEA chief apprised them of the paradigm shift of Bangladesh’s garment industry in the area of workplace safety and exemplary strides in environmental sustainability. READ: Close cooperation on trade can be win-win for Bangladesh, Indonesia: BGMEA He also shed light on the industry’s commitment and continued efforts to remain as a preferred choice of global apparel brands as a safe, ethical and sustainable sourcing destination. Alongside the safety and sustainability, the industry is also increasingly focusing on diversifying its products, especially high-end non-cotton items and building capacities to cater to the demands of global brands and buyers.
Diversified jute products fair ends on Tuesday
The 3-day diversified jute products fair will end on Tuesday at the Jute Diversification Product Centre (JDPC) premises at Monipuri Para. The JDPC, a concern of the ministry of textile & jute, organized the fair only for JDPC registered entrepreneurs who are producing 282 types of diversified products from jute. A total of 33 stalls of jute-made products participated in the event after a long interval due to Covid-19 pandemic. The entrepreneurs are happy to get the opportunity of participating in the fair, where products exhibition and sale have happened, said Md. Humayun Kabir Talukder, manager of classical handmade products BD Ltd. READ: 5-day long diversified Jute Goods Fair 2020 concludes on Tuesday “We are happy with the huge response of local buyers in the jute diversified products fair, and it needs to be organized in three-month interval for creating awareness about environment-friendly golden fiber,” he added. People are choosing different types of bags, show-pieces and handicraft items, said Hasina Akter, owner of Fashion & Style, manufacturer of diversified products. Mohammad Abul Kalam, executive director of JDPC and additional secretary, Ministry of Textile and Jute, told UNB that jute products fair is aimed promoting green items. He said entrepreneurs are responding well to the ministry's efforts. Kalam said, both the demand and popularity of jute made diversified products’ are increasing in the global markets as the products are sustainable and have zero pollution level. The JDPC will organize entrepreneurs and buyers' conferences at the division level to make up the time lost for the pandemic,he said.
Govt wants to raise ICT products export to $ 5 billion by 2025: Munshi
Commerce Minister Tipu Munshi on Wednesday assured that the government will provide all necessary support for boosting export income from ICT products and services to USD $ 5 billion by 2025. “There is a huge demand of Bangladeshi ICT products abroad and we have to utilise this opportunity to achieve our export income target,” he said. Tipu Munshi came up with remarks while exchanging views with newly elected executive committee members of Bangladesh Association of Software and Information Services (BASIS) at his secretariat office on Wednesday. READ: CIP cards awarding: Businesses should prepare to compete in post-graduation period-Tipu Munshi The BASIS delegation was led by its president Russell T Ahmed. Among others, BASIS Senior Vice President Samira Zuberi Himika, Vice Presidents Abu Dawood Khan and Fahim Hasan were present. The minister mentioned that Prime Minister Sheikh Hasina announced $5 billion ICT products export target at the inaugural function of Dhaka International Trade Fair. He emphasized on more investment for the development of the ICT sector industries to utilize the skilled manpower in the ICT sector of the country. The Ministry of Commerce is implementing a project to build skilled manpower in the ICT sector, he said.
Over 50 Indian IT companies showcase products at Dubai trade show
Over 50 Indian electronics and computer software companies are showcasing their products and services at Gitex Global, the annual trade show, exhibition and conference. Gitex Global, dubbed as the world's biggest technology show, is being organised from October 17 to 21 at the Dubai World Trade Centre. “Electronics and Computer Software Export Promotion Council (ESC) has been facilitating regular Indian participation at Gites to take advantage of the booming IT market in the Gulf,” said Kamal Vachani, Regional Director, Middle East at ESC. Gitex is continuing to emerge as the largest and the most impressive Information and Communications Technology (ICT) event of its kind in the Middle East. “India has a great stake in the booming Middle East, Africa, Asia (WANA Region) and European markets for which Dubai is the Gateway. READ: Dubai's Expo 2020 reveals 3 worker deaths from COVID-19 “Thus, the event provides the participating Indian ICT companies opportunities for scouting the expanding Middle East market,” said Gurmeet Singh, Executive Director at ESC. The ESC has been participating at the Gites consistently for several years and the participating Indian companies under its banner have reported bagging significant businesses, forged joint ventures, marketing tie ups among othes with the buyers visiting the exhibition. The Middle East was the top export destination for electronics during 2019-20 with an estimated value of USD 3 billion. Among the countries in the region, the UAE is the top destination for India's electronics export, says Sandeep Narula, Chairman of ESC. READ: Biman to run additional flights to Dubai Wednesday India's total export of electronics hardware during 2020-21 is estimated to be USD 11 billion and that of computer software and services is estimated to be USD 146 billion. Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions and views of UNB.
Electronics products: 'Walton export rose to $14 million amid pandemic'
Walton increased its export of electronics products from $1.4 million to $14 million amid the pandemic, Golam Murshed, managing director and chief executive officer of Walton Hi-Tech Industries, said Sunday. Murshed was addressing the closing ceremony of the 5th International Conference of Business and Economics at a city hotel. READ: Walton launches new soundbars Organised by the Faculty of Business Studies of the University of Dhaka, the theme of the conference was "Business and Economy in the New-normal Landscape," according to a media statement. Education Minister Dr Dipu Moni was present as the chief guest at the programme. Prime Minister Sheikh Hasina's Private Industry and Investment Adviser Salman F Rahman attended it as the guest of honour. READ: 'Walton ahead of others in protecting ozone layer'
Four more products to receive cash incentives against export: Bangladesh Bank
Four more products will get cash incentives from the government against their exports, according to the central bank. The new products, each of which will receive the cash support at rate of 4 per cent over their export value, are locally produced tea, bi-cycle and its parts, MS Steel products and cement sheet, said a Bangladesh Bank circular, issued by foreign exchange policy department on Monday. The exporting firm or any individual can claim the incentives by submitting one or more applications within 360 days of receiving the export value. However, the normal system of submitting the audit reports will be applicable in this regard. The new order will be effective from the fiscal 2021-2022. In this case, each of the product's local value addition has to be minimum 30 per cent. At present, some 38 items of local products have been receiving the cash incentives against the export at different rates one per cent to highest 20 per cent. The current incentives for these items will continue. READ: Bangladesh Bank Job Circular: Re-notice of recruitment of 200 people The BB circular also mentioned that cash incentives will also be provided for the export of the products produced in the export processing zones, economic zones and hi-tech parks under A, B and C categories. Besides, cash incentives at the rate of 4 per cent will be provided for export of IT services and software by individual freelancers. But their claim has to be authenticated by the Department of Information and Communication Technology and freelancers need to have the government certificates. READ: Jobs Circular in Bangladesh Bank: 34 people in 2 positions Apart from this, float glass sheet, opal glass wire, cast iron and aluminium engineering products, and light engineering products will be considered for export subsidy. As well as high-tech products (compressors) and HCFC-free refrigerators as electronic products will receive export subsidies under the consumer electronics, electrical home and kitchen appliance sectors.
Huawei launches new 5G products
Huawei launched new 5G products at Mobile World Congress (MWC 2021)this week to expand multi antenna technology worldwide. These product solutions are designed to support and enforce “1+N” 5G networks. The New launched products are 400 MHz Ultra-Wideband 64T64R Massive MIMO, light weight (19KG) 64T64R Massive MIMO, BladeAAU Pro: 64T A+P Solution, Ultra-Wideband Blade RRU Pro, Commercial FDD Massive MIMO. READ: $300 billion market by 2025 for Augmented Reality: Huawei Among these, there are industry’s only solutions at this moment. These five products will promote multi antenna technology to all bands and all scenarios for building a strong 5G network. These products will also enhance the 5G experience for users and help carriers to distribute their network in a better way. Read Top 7 Best Android Skins in 2021: Know pros, cons Huawei's new products can be transported and installed with minimum effort while also delivering on performance, significantly improving construction efficiency and cost. Yang Chaobin, President of Huawei Wireless Product Line, said, "By launching this series, we aim to bring multi-antenna technology to all scenarios and bands. Several products within the solutions are one-of-a-kind and will help operators efficiently deploy 5G networks and provide first-rate experience. Huawei will work with global partners to innovate and share 5G benefits with all." Read Best Upcoming Phones in July 2021 in Bangladesh: Official and Unofficial
Speakers want specific taxes imposed to increase price of tobacco products
Describing the current tobacco tax structure as extremely complex, speakers at a webinar on Monday urged the government to simplify the tax structure to widen its net in the country. They also said the complex tax structure is a major obstacle for discouraging tobacco usage at the virtual exchange meeting titled ‘Way Forward to Tobacco free Bangladesh by 2040: Tobacco Tax” with the members of the Executive Committee of the Economic Reports’ Forum (ERF) organized by Dhaka Ahsania Mission (DAM). The speakers said Bangladesh is one of the most tobacco consuming countries in the world. In this country the price of cigarettes is very low, bidi is cheaper. According to the Bangladesh Bureau of Statistics, the per capita national income (nominal) has increased by 25.4 percent in 2017-18 as compared to 2015-16. However, the price of most cigarettes has remained almost unchanged or has increased slightly. As a result, cigarettes are becoming more readily available. That is why, it is important to increase the price of cigarettes in a proper way, that is, through a specific tax increase. Also read: PROGGA, ATMA for imposing specific taxes on tobacco products The Project Coordinator of Tobacco Control Project at Dhaka Ahsania Mission Md Shariful Islam presented the keynote paper at the seminar while its Media Manager Rezaur Rahman Rizvi moderated the function. In the keynote paper, the proposal for cigarettes in the financial year 2021-2022 was to introduce a specific excise (supplementary) duty based on the price level of all cigarette brands with uniform coverage (supplementary duty 65% of final retail price). It suggested fixing the retail price of cigarettes at TK 50 per 10 sticks and imposing a specific supplementary duty of TK 32.50 at the low tier. At the middle tier, the retail price of every 10 sticks of cigarettes is to be fixed at TK 70 and a specific supplementary duty of TK 45.50 is to be imposed. Also read: Bring smokeless tobacco products under tax net: PROGGA At the higher level, the retail price of 10 sticks of cigarettes is to be fixed at TK 110 and a fixed supplementary duty of Tk 71.50 and at the premium tier, the retail price of 10 sticks of cigarettes at Tk 140 and a supplementary duty of Tk 91 is to be fixed. In the medium term (2021-22 to 2025-26), the price and tax gap between cigarette brands will be reduced from 4 to 2. Director of Health and Wash Sector at Dhaka Ahsania Mission Iqbal Masud said tobacco is linked to six of the eight leading causes of preventable death worldwide. In Bangladesh, more than 161,000 people die every year from diseases caused by tobacco usage. Some recommendations that came up in the seminar on tobacco control are: Reduce the easy availability of tobacco products, specific supplementary tariffs must be increased regularly in line with inflation and income growth. SImplify the taxation process, the existing divisions/variety/tiers between tobacco products need to be removed. All smokeless tobacco products should be brought under the tax net. Also read: Hike tobacco tax and price to save lives, earn revenues: ATMA Formulate and implement a simple and effective tobacco tax policy (for a period of 5 years) which will contribute to the reduction of tobacco usage and increase in revenue and the re-imposition of 25 per cent export duty on tobacco products. Dr Syed Mahfuzul Haque, National Professional Officer (NCD), World Health Organization (WHO), Abdus Salam Mia, Grants Manager, Campaign for Tobacco Free Kids Bangladesh, Md. Mostafizur Rahman, Lead Policy Advisor, Campaign for Tobacco Free Kids Bangladesh, Sharmeen Rinvy, President of Economic Reports Forum (ERF) and SM Rashedul Islam, General Secretary of ERF also were present there.