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Garment factory owners are concerned as a US clothing retailer recently said it will not “process transactions involving any country, region, party” sanctioned by the UN, US, EU, or the UK. It mentioned it in a Letter of Credit (LC) issued last month for an apparel exporter in Bangladesh. Garment factory owners association BGMEA yesterday […]

Average wage growth remained well below the inflation rate in Bangladesh for the 22nd month straight, as per the Bangladesh Bureau of Statistics (BBS), indicating a worsening situation and compelling many to cut consumption amid falling real income. In November, wages of low and unskilled workers grew 7.72 percent year-on-year, which was 1.77 percentage points

Exports grew 27% in November compared to October on the back of higher demands for apparels in the West as the festival season has already set in Bangladesh’s major export destinations. Apparel exports were $4.05 billion in November, 28% higher than October’s $3.16 billion, according to the Export Promotion Bureau (EPB) data released on Monday.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has called for speeding up customs-related procedures more, particularly the faster clearance of export-import goods, to enhance the competitiveness of readymade garment industry. A delegation of BGMEA led by President Faruque Hassan made the call during a meeting with Mohammad Fyzur Rahman, Commissioner of Custom House, Chattogram

The US is the single largest export destination for Bangladesh and of the total garment export from the county in a year nearly 25 percent is destined to the American markets. Last year Bangladesh exported more than $10 billion to the USA of which 90 percent was garment items. Following the international practice in compliance

Recently, the minimum monthly wage for Bangladesh’s readymade garment (RMG) workers has been increased in 5 categories by 56.25%. Now, the minimum monthly wage for an unskilled garment worker in Bangladesh has been increased to Tk 12,500 (or $113.6), according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Impacts of wage increase on FOB

Apparel owners tighten the regulatory noose around the export industry, in an apparent backlash against furious wage protests, by ordering moratorium on fresh recruitment and information holdback to forestall any recurrence. Two apparel apex bodies-BGMEA and BKMEA–have made a number of instructions to their members in this regard, including an update on workers’ biometric database,

Another garment factory in Bangladesh has been awarded LEED certification from the United States Green Building Council (USGBC), further solidifying the country’s position as a leader in green manufacturing. With this, the number of green factories in the country rose to 204. According to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Integra Dresses Limited

The package, which includes $535 million in loans and $465 million in grants, aims to address the challenges faced by the forcibly displaced Myanmar nationals and mitigate the impact of their presence on local communities. Officials from the Economic Relations Division (ERD) under the finance ministry told The Business Standard that negotiations with the two

Global uncertainties related to future geoeconomic landscape, weak productivity growth and a complex financial environment might cause setback to the local readymade garment exports in the coming months, according to a recent report of the central bank. The Bangladesh Bank in its Quarterly Review report on Readymade Garments (RMG) for the first quarter of the