HSBC to award top exporters | The Daily Star
12:00 AM, March 21, 2011 / LAST MODIFIED: 12:00 AM, March 21, 2011

HSBC to award top exporters


Sanjay Prakash, chief executive officer of HSBC Bangladesh, speaks at a press conference in Dhaka Sheraton Hotel yesterday where the bank announced a plan to organise HSBC Export Excellence Awards for 2010.Photo: STAR

The Hongkong and Shanghai Banking Corporation (HSBC) Bangladesh for the second consecutive year will honour five exporters for their outstanding performances in 2010.
The award, according to officials, is an initiative of the bank to recognise the ingenuity of Bangladesh exports. HSBC announced the award programme at a press conference in Sheraton Hotel yesterday.
Sanjay Prakash, chief executive officer of HSBC Bangladesh, stated that recognition of exporters play a vital role in promotion of exports and its diversification, and achieving excellence.
“The award will also help promote the right behaviour of the exporters,” said Prakash.
The five award categories are: RMG (readymade garments) and textiles exporters (Group A and Group B), EPZ enterprises, traditional and emerging sectors and SMEs.
RMG and textiles have been divided into two categories as they take up over 75 percent of the country's exports. RMG exporters whose annual export turnover is $50 million or more are in Group A and Group B covers those with less than $50 million in annual export turnover.
The non-RMG or textiles companies whose annual export turnover is $3 million or more will be awarded under the traditional and emerging sectors category.
The SME category is for the non-RMG or textiles companies whose annual export turnover is less than $3 million.
Companies in export processing zones will be awarded under the EPZ enterprises category.
Mahbub-ur-Rahman, head of commercial banking, HSBC Bangladesh, said the award is meant for exporters from emerging entrepreneurs to established names continuously striving to position the country's products in international markets.
Rahman said: “These awards are a humble way for HSBC to salute the resilience of Bangladesh's exporters. Across markets and industries, and facing all odds, our exporters have proven their mettle time and again.”
HSBC handles 8.2 percent of the country's total external trade (export-import) worth nearly $40 billion in 2010.
Deadline for submission of nomination is set on April 21.

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