Category: Global

Bangladesh will get GSP facility till 2027

Commerce minister Tofail Ahmed said that despite graduation from least developed country to developing one, Bangladesh would get generalised system of preferences in the European Union till 2027 and later on the country would be eligible for getting GSP plus. Bangladesh would face the post-graduation challenges related to the trade and business successfully as the country achieved the position through facing various challenges, he said on Bangladesh’s graduation at his Ministry office in Dhaka. “We will fully graduate from the LDCs in 2024, but those countries which provide us GSP facility will continue it till 2027, and then we...

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Lectra introduces collaborative solutions for design and product development teams

Lectra, the technological partner for companies using fabrics and leather, introduces collaborative solutions specifically developed for design and product development teams, enabling fashion companies to affront tighter deadlines and handle wider product mixes with speed and serenity. With the rise of e-commerce, digitally dependent consumers expect personalised, innovative fashion delivered to their doorstep at the click of a mouse. Fashion companies are struggling to keep up with consumer demands and looking for new ways to speed up design and development without compromising quality. Design teams work faster than ever to deliver fresh, eye-catching collections. Product development teams rush to...

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Bangladesh Govt. monitoring RMG factory safety

The government has formed a joint monitoring committee comprised of representatives of brands and buyers, International Labour Organisation, garment factory owners and trade unions to evaluate the status of factory remediation work under Accord and Alliance and the readiness of national regulatory body to take over post-remediation monitoring from the buyers’ platforms. The committee, namely Transition Monitoring Committee, for the country’s export-oriented readymade garment sector was formed on Thursday, five months after deciding to form such a platform to take over factory safety monitoring from the two western buyers’ platforms. The labour Ministry formed the nine-member committee headed by...

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CPTPP expected to benefit Vietnam’s textile, garment sector

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to benefit the textile and garment, footwear, and food and beverage industries in Vietnam as the commitments on opening markets made in the old TPP have not changed, experts feel. The benefits would, however, be lower than it would have been with the TPP. US President Donald Trump withdrew from the TPP after he was elected last year. Japan is the second largest export market for Vietnamese textile and garment industry, with an annual growth rate of 23 per cent. Its garment imports from Vietnam is much smaller...

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Bangladesh’s export earnings from RMG increase

Export earnings from the Readymade Garment (RMG) increased by 8.3 per cent or $584.87 mn in October to December quarter of 2017 than the corresponding quarter of previous year 2016. “Contribution of RMG sector in the country’s export earnings is increasing day-by-day as the government has taken various steps to improve overall workplace safety and compliance in RMG sector,” a Bangladesh Bank official told. According to BB data, export earnings from RMG stood at $7,628.67 mn during the October to December quarter of 2017 which was $7,043.8 mn in the same quarter of 2016. During the October to December...

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