Bangladesh will send the work plan to the United States Trade Representative (USTR) within the next week to reduce the trade gap as part of the efforts to bring down Trump’s reciprocal tariff, currently on pause until July 9.
In a first move to address the shortfall, Sylhet's Osmani International Airport is set to launch dedicated cargo operations today
The United States Trade Representative (USTR), the US government’s chief trade negotiation body, wants to see Bangladesh’s work plan on narrowing the bilateral trade gap before the Trump administration makes a call on reciprocal tariffs.
Local suppliers have secured adequate work orders from US clothing retailers and brands to stay busy until Christmas at the end of this year, although the shipments are likely to be subject to Trump’s reciprocal tariffs.
Safety standards in Bangladesh’s garment sector saw a marked improvement after the disastrous Rana Plaza collapse in 2013, but there is still a need for other sectors to improve in this regard, Labour Reform Commission chairman Syed Sultan Uddin Ahmed said in an interview yesterday.
Bangladesh's limited trade diplomacy, coupled with its slower shift towards value-added production, could allow Vietnam to surpass it in global rankings
This includes allowing more duty-free imports from the US, offering warehouse facilities for American cotton and removing various non-tariff barriers.
Trump's announcement sent businesses scrambling. Orders froze. Buyers demanded discounts. Stock markets plummeted.
In spite of turbulent times prevailing both at home and abroad, garment exports from Bangladesh grew in 2024 by 7.23 percent year-on-year to $38.48 billion, according to the Export Promotion Bureau (EPB)..This is due to an increasing demand for clothing with the fall of inflation in major
The export of home textiles is on the path to recovery after nearly one year because of the devaluation of the local currency, increased production capacity and improvement in gas supplies to some extent.
Businesses hope for the year 2025 to bring about stability as normalcy has started to be restored in businesses following turbulent times both at home and abroad.
For the local apparel industry, 2024 was a year marked by challenges, recoveries and a renewed sense of hope as the global market began to brighten -- proving once again the resilience of Bangladesh’s apparel might.
The Beximco Group has laid off nearly 40,000 workers across its 15 apparel units, citing a lack of work orders for its export-oriented garment and textile factories in Dhaka’s outskirts of Gazipur.
Business leaders, economists and professionals have emphasised that an elected government is essential for restoring confidence in the business community, stabilising law and order, and revitalising the business and investment climate.
The prices of major garment items exported to the US declined year-on-year in the January-October period this year as American consumers are yet to recover from heightened inflationary pressures..During the 10 months, the price of men’s cotton woven trousers declined by 7.7 percent, accor
After three months of rigorous work, a white paper panel on the state of the economy revealed all the fault lines that had formed across Bangladesh during the 15 years of rule under the Awami League government, which held power from 2009 until it was ousted by a mass uprising on August 5 this year.
The government has decided either to sell the ownership of a good number of Beximco Group companies or find entrepreneurs to lease these units out.
The reform initiatives taken by the interim government should be continued as these reforms may pave the way towards a more modern, equal and inclusive Bangladesh, said a top official of the International Labour Organization (ILO).
