HSBC honours five high-flying exporters

Global bank HSBC yesterday awarded five exporters for their outstanding contribution to Bangladesh's steadily growing economy as well as promoting the country on the international stage.

AMA Muhith, finance minister; Tofail Ahmed, commerce minister; and Natalie Blyth, HSBC's head of global trade and receivables finance, handed over the sixth HSBC Export Excellence Awards to the winners at a ceremony at Radisson Hotel in Dhaka.

DBL Group, a fast-growing apparel maker, bagged the award in the category of textile and garment companies with annual export turnover of $50 million or more.

The family-run company, set up in 1991, is one of the largest export-oriented composite knit garment and textile manufacturers in Bangladesh. Its products are exported to more than 47 countries, including Germany, Sweden, Spain, the UK, Canada, the USA, Japan, Brazil, India and China.

Its customers include retail giants H&M, Wal-Mart, Esprit, Puma, G-Star and Decathlon.

This was the fourth time that the company was awarded after it won the honour in the first edition of the awards in 2010.

Ha-Meem Denim Ltd, a one-stop solution provider for leading apparel brands around the world, became the exporter of the year in the textile and garment category for annual export turnover of less than $50 million.

With GAP, H&M, Next, Tesco, Wal-Mart, VF, American Eagle and Kohl's as some of its customers, the company is the biggest denim producer in Bangladesh.

The company is owned by Ha-Meem Group, a leading supplier of garment in the world.

Epic Garments Manufacturing Company was awarded in the category of enterprises in the export processing zones.

Established in Hong Kong in 1972, the company has been operating in Bangladesh for more than 30 years.

One of the largest non-iron and non-wash bottoms manufacturers, its customers include Nautica, Lee, Wrangler, Gap, Wal-Mart, Haggar, Dillards, Kohl's, JCPenney and Levi's.

Square Pharmaceuticals Ltd, the largest pharmaceutical company in Bangladesh, won the award in the category of exporters in traditional and emerging sectors with annual export turnover of $5 million or more.

It pioneered the export of medicines from Bangladesh in 1987 and now ships antibiotics and other pharmaceutical products to 39 countries.

TradeXcel Graphics Ltd, a graphic design company working for renowned global brands, won the HSBC award in the small and medium enterprises category. The company expanded 88 percent in the last three years.

Set up in 2006, it serves newspapers, magazines, ad agencies, printing and publishing companies around the world, with services such as clipping path, Photoshop masking, drop shadow, retouching and other image editing services.

In his speech, Muhith said the government that came to power in 2009 put emphasis on export-led growth. “It has been proved that our choice was right. We have done quite well,” he said, adding that exports rose to $34 billion last fiscal year from $14 billion in 2009.

Commerce Minister Tofail Ahmed said the business community is the engine of growth, and the government is business-friendly. He said products and markets will be diversified if the government's seventh five-year plan is implemented by 2021. “The government is providing incentives to exporters of non-traditional items.”

Addressing the award winners, Blyth said: “You are leading the businesses that make a positive contribution not only to the country's economy today, but which are helping shape its future in world trade.”

Bangladesh has the geographical advantage of being located in the world's most dynamic trading region -- between India and China.

While garment accounts for more than 80 percent of Bangladesh's exports, the future is not just in clothing for the country. There are some other sectors that are set to grow at a double digit pace from 2016-2020, she added.

HSBC's Bangladesh CEO Francois de Maricourt said the export sector has been the driving force of the economy, not just in terms of bringing in foreign currency but also in terms of promoting resilience and diversity.

A strong export sector remains a key economic driver for the country and a beacon of hope.

“At HSBC, we are pleased to play our part in recognising and encouraging excellence in this sector and linking local businesses to global opportunities,” he added.

Headquartered in London, it facilitates around 10 percent of Bangladesh's international trade.

Export has been playing a vital role in leading the economic prosperity of Bangladesh, said Mahbub-ur Rahman, deputy CEO of HSBC Bangladesh.

Exports were less than $500 million in 1973. But last fiscal year, it soared to $34 billion, he said, adding that exporters are also exploring opportunities in non-traditional markets with 10 percent of the exports going to the Asian markets.

The entrepreneurs have built a world-class supply chain and made the 'Made in Bangladesh' brand international. “Bangladeshi exporters are in the right direction,” he added.

In his reaction, Mohammed Abdul Jabbar, managing director of DBL Group, said governance and people are the key factors to the success of a business. “We have established governance in all aspects of our business. Besides, if workers are happy companies will be successful.”

AK Azad, managing director of Ha-Meem Group, said he is excited about the export prospects of denim. He added he plans to expand the business, which will create more jobs and fetch more foreign currency.

Launched in 2010, the award recognises Bangladeshi exporters who contribute to the robust flow of remittance to the economy and promoting the proud 'Made in Bangladesh' brand across the globe.

The award winners were picked by a jury board led by former Bangladesh Bank governor Mohammed Farashuddin.

The jury board included Rokia Afzal Rahman, former caretaker government adviser; Latifur Rahman, chairman of Transcom Group; Aftab Ul Islam, a former chairman of SME Foundation; and Ferhat Anwar, a professor of Institute of Business Administration. 

They looked at financial performance, business diversification, compliance, contribution to the economy and past achievements and recognition in picking this year's winners.

On the eve of the awards ceremony, jury board member Latifur Rahman termed the HSBC initiative outstanding.

In order to succeed, businesses must stick to some basic values and not cut corners, said Rahman, a winner of the Oslo Business for Peace Award.

The Daily Star, Prothom Alo and Bangladesh Brand Forum are the strategic partners of the annual event.