Refayet Ullah Mirdha

The cargo village at the Hazrat Shahjalal International Airport (HSIA) is failing to accommodate the rising volume of export-bound goods, piling up losses on suppliers as they are struggling to ship merchandises on time.

Overall inflation rose 18 basis points to 5.54 per cent in August owing to the rise in demand and the abnormal hike in transport cost following the reopening of the economy from the coronavirus-induced lockdowns, official figures showed.

The commerce ministry will form a committee to make recommendations on the formulation of a law, authorised by which the ministry will introduce an e-commerce regulatory authority to safeguard interests of all parties involved.

The commerce ministry has for many years been failing to recover money from fraudulent companies even though the companies are registered with it.

E-commerce firmly began to put down roots in Bangladesh back in 2009 and since then has gone on to become a mainstay in the retail landscape.

The transport operators’ countrywide strike yesterday affected export and import of goods at a time when businesses have been attempting to make a recovery from the fallouts of the Covid-19 pandemic.

Apparel exporters are apprehending significant losses in business for missing freight transport deadlines as the number of scanners and flights at Hazrat Shahjalal International Airport in Dhaka is currently insufficient to meet demand.

Bangladesh’s exports to Bhutan could rise on the back of the bilateral trade pact signed last year after shipment to the South Asian nation has already shown a significant upward trend. 

A high-powered committee will be formed by Sunday to resolve issues pertaining to payment of cash incentives to garment exporters who do not have bonded warehouse licences, said Commerce Minister Tipu Munshi yesterday.

Production in textile mills in some areas in Savar, Narayanganj, Dhamrai, Manikganj, Gazipur and Chattogram has been affected severely due to a shortage of gas supplies to the industrial units.

Production in the textile mills in some areas in Savar, Narayanganj, Dhamrai, Manikganj, Gazipur and Chattogram areas has been affecting severely due to shortage of gas supply in the industrial units.

Bangladesh is hopeful that it will enjoy the duty-free export benefit for a more extended period after graduating from the grouping of the least-developed countries (LDCs) as the negotiation with the World Trade Organisation is underway.

Bangladesh is gearing up to sign free trade agreements (FTAs) and amend labour laws to continue to avail duty benefits on merchandise export once it comes out of the least developed country (LDC) status, said Commerce Secretary Tapan Kanti Ghosh yesterday.

The prospects to resume buying cotton from Uzbekistan have improved for Bangladesh after the United States lifted the ban on sourcing the key textile raw material from the country following significant progress in ending forced labour.

With the demand for food delivery through online purchase growing fast, the government is planning to frame a policy in order to streamline the business and protect interests of all the actors in the chain, including customers and suppliers.

The flow of work orders to the garment industry is rebounding strongly on the back of the reopening of stores of retailers and brands in Europe and the US, the two main export destinations for the apparel manufacturers in Bangladesh.

The spinning industry in Bangladesh is witnessing massive investment as local entrepreneurs are either expanding their production capacities or setting up new units as the demand for garment raw materials is rising.

Earnings from merchandise exports significantly rebounded in August by 14 per cent year-on- year to reach $3.38 billion, buoyed by garment shipments, particularly knitwear items.

Garment exporters have been feeling the pinch of an unusual rise in the cost of production fuelled by hikes in yarn prices and freight charges in the wake of a recovery in export during this time of Covid-19.

The former signatories of the Accord Bangladesh have joined together to continue their legally binding commitments to workplace safety in Bangladesh and expand the programme to other countries.