Bangladesh should get prepared to utilise the immense potential of the billions of dollar worth global pharmaceutical industry as the nation will lose the preferential trade benefits after its graduation to a developing country, an economist said today.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today sought cooperation from the International Monetary Fund (IMF) to achieve the $100 billion garment export target by 2030.

The government today set a merchandise export target of $58 billion for the current fiscal year of 2022-23, which is 11.36 per cent higher than the actual receipts in the last fiscal year.

The government has given go-ahead to 47 companies to import 73,000 tonnes of rice as part of its ongoing effort to contain food prices in the local market.

Garment exports to Bangladesh’s single largest destination, the USA, rose by 51.57 per cent year-on-year to $9.01 billion in the just concluded fiscal year.

The price of the vehicle was shown as 200,000 US dollar or Tk 1.87 crore in the import document and as an exporter the company had the opportunity to get a duty benefit of Tk 24 crore under the 170 Customs Procedure Code.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) targets exporting $100 billion worth garment items from the country by 2030 as the local apparel suppliers are diversifying the products and markets.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) made the call in a meeting with Abu Hena Md Rahmatul Muneem, chairman of the National Board of Revenue (NBR), at the latter’s office in Dhaka today.

Exports from Bangladesh hit an all-time high of $52.08 billion in the just-concluded fiscal year, giving much-needed breathing space to the country amid ongoing volatility in the foreign exchange regime, official figures showed yesterday.

The pressure on Bangladesh’s foreign exchange reserves continues to remain high as robust export growth was not enough to reduce deficits in external payments resulting from high import growth. 

Exports from Bangladesh hit an all-time high of $52.08 billion in the just-concluded fiscal year, giving much-needed breathing space to the country amid ongoing volatility in the foreign exchange regime.

Bangladeshi mangoes with its flavour and taste are winning hearts in many foreign lands.

Seventeen Bangladeshi textile and garment companies took part in three international summer exhibitions -- Techtextil, Texprocess and the Heimtextil -- in Germany’s Frankfort.

The leather industry cannot flourish properly depending only on the activities that take place during Eid-ul-Azha, Industries Minister Nurul Majid Mahmud Humayun said today.

The government will form a new wage board for the garment sector in response to the apparel workers’ continued unrest in the previous four consecutive days, Lawmaker Shajahan Khan said today.

Exporters in Bangladesh raked in more than $1 billion in the shipment of leather, leather goods and footwear in the first 11 months of the current fiscal year despite a slowdown in May owing to supply chain disruptions and the fallout of the Russia-Ukraine war, official figures showed.

The leaders of the paper importers and the printing and packaging sectors today called for reducing import duty on papers that are not manufactured in Bangladesh.

Bangladesh earned $3.83 billion in merchandise exports in May, the lowest in nine months, as buoyancy in demand ebbed owing to higher inflation, according to data released by the Export Promotion Bureau (EPB) today.

Bhutan wants Bangladesh to make 2017’s transit route deal functional soon so that the landlocked country can use Mongla and Banglabandha ports to carry goods from and to Bangladesh through India.

The company will manufacture and sell generic pharmaceutical medicine in Kenya and East African Community (EAC).