May 2023

To encourage garment manufacturing from recycled fibres, the government is considering withdrawing the existing 7.5% value-added tax (VAT) on the collection of textile waste by spinning mills in the next fiscal year. The concept of circular fashion, which primarily relies on recycled fibres, has gained significant attention globally in recent years, including in Bangladesh. The […]

Bangladesh has again sought duty free access to the US market for locally produced garments made from the US cotton, said Senior Commerce Secretary Tapan Kanti Ghosh. “Bangladesh made the same demand in the last meeting of the Trade and Investment Cooperation Forum Agreement (TICFA) held in Washington in December last year,” he told the

During the July-March period of this fiscal year, the initiation of letters of credit (LC) for imports in Bangladesh dropped by approximately 25.38 per cent to $51.36 billion, compared to $68.84 billion in the same timeframe of the prior fiscal year, due to import limitations, according to Bangladesh Bank data. Imports of capital machinery, intermediate

The US government passed the Uyghur Forced Labor Prevention Act (UFLPA), which came into force on June 21, 2022. It allows US border authorities to practice greater powers to block or seize goods any product partly or wholly made in Xinjiang, an autonomous territory in northwest China, linked to forced labor in China. Bangladesh’s apparel

Bangladesh Foreign Exchange Dealers Association (BAFEDA) and The Association of Bankers, Bangladesh Limited (ABB) have revised the exchange rate by increasing the dollar price by one taka in terms of export earnings and remittances. This decision was taken in a meeting between Association of Bankers Bangladesh (ABB) and Bangladesh Foreign Exchange Dealers Association (BAFEDA) on

As of 2022, the company exported garments worth $500 million and has set a target of earning $600 million by the end of this year. As part of the expansion plan, a new production facility of about 7.5 lakh square feet is being set up in the Chittagong Export Processing Zone (CEPZ), which is expected

Traceability or product tracing is defined by Codex Alimentarius Commissions as -the ability to follow the movement of product through specified stage(s) of production, processing and distribution. Traceability within product quality control system is applied as a tool to control counterfeit product, provide reliable product information and guarantee product authenticity. Traceability in the textile industry

Bangladesh exported apparel items worth $1.22 billion to Japan marking a 43.79% growth during July-March period in the ongoing FY23 The country’s readymade garment (RMG) exports to Japan continued to grow by more than 43% to cross the billion-dollar mark in the first nine months of the current FY23. Bangladesh exported apparel items worth $1.22