Refayet Ullah Mirdha

A decade ago, the number of export-oriented suit-making factories in Bangladesh was one or two, and China and Vietnam were the main sourcing destinations for brands and retailers globally.

Negotiations for signing a Comprehensive Economic Partnership Agreement (CEPA) with India will begin next year as the related feasibility study has entered its final stage, according to a senior official of the commerce ministry.

Following a year’s gap, the Dhaka International Trade Fair (DITF) is expected to open as planned on January 1 at its new venue in the capital’s Purbachal.

Bangladesh has already conquered the international apparel market and is currently the second-largest exporter of garment items worldwide after China with a 6.8 per cent global market share.

E-commerce customers and merchants waiting for their money stuck in the central bank’s payment gateway can expect their amounts from next week, said the chief of the commerce ministry’s Digital Commerce Cell yesterday.

Bangladesh’s exports surged in November as it raked in $4.04 billion, reflecting the strong demand for apparels from the country following reopening of US and European economies from the severe fallout of Covid-19, official figures showed yesterday.

Export earnings surged 31 per cent year-on-year to $4 billion in November from a year ago, thanks to the rebound in the apparel shipment in the European and the US markets for increased consumers’ demand following the Covid-19 pandemic fallout.

Every e-commerce and F-commerce company in Bangladesh will soon have to apply for a Unique Business Identification Number (UBIN) from the Digital Commerce Cell (DCC) as the commerce ministry is set to launch the registration from this month.

The country’s apex trade body, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), is going to launch a 16-day event in Dhaka to commemorate the country’s 50 years of independence.

Not even a month has gone by yet edible oil refiners are again proposing hiking prices for the fourth time this year, reasoning it to be a ripple effect of international rates.

The World Trade Organisation (WTO) has postponed the imminent Ministerial Conference after an outbreak of a particularly transmissible strain of Covid-19 led several governments to impose travel restrictions that would have prevented many ministers from reaching Geneva.

A cocktail of challenges and opportunities await Bangladesh as it enters the developing nation bracket in 2026 after the United Nations General Assembly on November 24 gave its graduation the final approval.

The Tazreen Fashions fire, one of the nation’s deadliest industrial incidents, was an eye-opener for the garment sector, showing that the cost of non-compliance in business operations was very high.

The export potential of clear float glass (CFG) from Bangladesh to India will face a setback if New Delhi imposes anti-dumping duty on the imports to shield local manufacturers, industry people say.

A measure proposed by the European Union may affect Bangladesh’s robust apparel shipment to the bloc even if the country is awarded the Generalised System of Preferences (GSP) Plus status after its graduation to a developing nation.

Bangladesh has joined other least-developed countries (LDCs) to demand the continuation of partial fisheries subsidies as nations are set to agree to new rules for the industry and limit state support contributing to unsustainable fishing and the depletion of global fish stocks.

Rice price in Bangladesh has remained at an elevated level despite higher imports in recent months on the back of lower customs duty and reduced price in the international market as well as a record stock in government warehouses.

The refunding of the e-commerce companies’ stuck up money at the central bank’s payment gateway to the affected e-commerce consumers and merchants will delay further because of delays in vetting by the law ministry.

The commerce ministry yesterday formed a six-member committee to review the existing formula, which the government has been following since 2011 to fix the prices of basic commodities.

The commerce ministry today formed a six-member committee to review the existing formula, which the government has been following since 2011 to fix the prices of basic commodities.