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POLICY |
BANGLADESH
Bangladesh & Thailand boosting bilateral trade
Bangladesh and Thailand are working towards boosting bilateral ties and the trade between the two countries is expected to touch $ 2 billion by 2021 from the current $ 800 million. Bangladesh has also requested a Thai delegation led by Kobsak Pootrakool, investment and economic reforms affairs minister,
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Bangladesh government extends permission of Accord
The Government of Bangladesh has extended the permission of the Accord on Fire and Building Safety( Accord), a western buyers’ platform working to improve workplace safety in Bangladesh readymade garment sector, to work beyond May 2018.
A joint Transition Monitoring Committee( TMC) set up by the government determined that the criteria agreed by the Accord and the Bangladesh Garment Manufacturers and Exporters Association( BGMEA) have not yet been met.
The TMC comprises Accord brands, global trade unions, BGMEA, ILO and the Bangladesh government. It has been established by the Government for the purpose of determining when the agreed conditions for a handover of the Accord work to a fully-functional and competent national regulatory body have been met.
Meanwhile, the government has formed a Remediation Coordination Cell( RCC) under inspection for factories and establishment department. The
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to consider a free trade agreement( FTA) to encourage bilateral trade.
A meeting was held between the Thai delegation and Bangladesh representatives led by Tofail Ahmed, commerce minister of Bangladesh. Ahmed made the request to sign an FTA as Thailand already offers dutyfree access to many Bangladeshi products. He has also asked the delegation to provide duty-free access to some other items including garments, leather goods and jute products.
The commerce minister also invited Thai entrepreneurs to invest in Bangladesh, according to Bangladeshi media reports.
RCC will take over the responsibility of monitoring from Accord after being fully organised and capable, said BGMEA president Md. Siddiqur Rahman at a press conference.
The government and entrepreneurs are working jointly for making the RCC active before the end of the extended six months period of the Accord, he added.
TRADE
Bangladesh garment exports up 9.37 % in July-April
Readymade garment exports from Bangladesh increased by 9.37 per cent in the first ten months of current fiscal 2017-18 to $ 25.305 billion compared to exports of $ 23.137 billion in the corresponding months of the previous year, according to data from the Export Promotion Bureau. The percentage increase in garment exports during July-April 2017-18 was higher than 6.41 per cent growth in overall exports from Bangladesh during the same period.
Category-wise, knitwear exports rose 11.43 per cent to $ 12.540 billion in the first ten months of fiscal 2017-18, as against exports of $ 11.254 billion during the corresponding period of
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the previous fiscal, as per the data. Germany was the largest importer accounting for $ 2.671 billion of all knitwear exported from Bangladesh, followed by the United Kingdom with imports of goods valued at $ 1.597 billion.
Likewise, exports of woven apparel increased 7.42 per cent to $ 12.765 billion during the period under review, compared to exports of $ 11.883 billion during July-April 2016-17. The US was the largest importer with $ 3.254 billion worth of woven clothing supplied by Bangladesh. Germany and the United Kingdom procured woven apparel valued at $ 1.979 billion and $ 1.560 billion, respectively.
INDUSTRIAL
Bangladesh government honours apparel firms for workers’ safety
The Government of Bangladesh has honoured 10 apparel firms for maintaining high safety and workers’ health standards in their factories. The ministry of labour and employment, for the first time, introduced Occupational Safety and Health( OSH) Good Practice Award’ to recognise business owners who have made proactive efforts to ensure welfare of employees.
State minister for labour and employment, Mujibul Haque, handed over the award to representatives from Wisdom Attires, Fakir Fashion, Knit Concern, Hop Lun Apparels, Square Fashion, Snowtex Outwear, Ecotext, Tarasima Apparels, Viyellatex and AKH Eco Apparels, on the National Day on OSH.
“ Our government believes that a safe and healthy workforce is the pillar of sustainable development. This year on National OSH Day, we have introduced OSH Good Practice award for the first time to recognise business owners who have made proactive efforts to ensure welfare of employees,” secretary of the minister of labour and employment, Afroza Khan, said.
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