Bangladesh’s garment exports jump 15.15% in July-March

[UKBengali]

The exports of readymade garments from Bangladesh increased by 15.15 percent to US$ 18.052 billion during the first three quarters of the ongoing fiscal year 2013-14, as against exports of $15.676 billion made during the corresponding period of the previous fiscal, as per the latest data released by the Export Promotion Bureau (EPB).

Segment-wise, woven apparel exports grew by 13.99 percent year-on-year to $9.221 billion during July-March 2013-14 period, whereas knitwear exports soared by 16.4 percent to $8.831 billion.

Knitwear and woven garments together accounted for 81.15 percent of total $22.242 billion exports made by the South Asian nation during the nine-month period beginning July 1, 2014.

The 15.15 percent growth in clothing exports was greater than the 12.88 percent growth registered in overall exports from Bangladesh during the period under review.

In the first half of the current financial year, Bangladesh garment exports grew at 19.95 percent year-on-year. But, the growth rate has gradually decreased since then, mainly due to the implementation of the 76.66 percent rise in minimum wage for entry-level workers in the clothing industry since December 1, 2013.

Meanwhile, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and United Nations Industrial Development Organization (UNIDO) have signed a Memorandum of Understanding (MoU) to improve competence and productivity in the readymade garment (RMG) sector of Bangladesh.

With the presence of more than 5,000 garment factories that together employ nearly 4.2 million workers, Bangladesh is currently the second-largest garment exporter in the world, next only to China.

http://www.fibre2fashion.com/news/apparel-news/newsdetails.aspx?news_id=162321

Export growth has slowed down from 20% year-on-year last year to around 10% this year. This slowdown is probably mainly related to the political instability but the 66% minimum wage hike is unlikely to have had much of an effect in my opinion.

Anyway, it is good to see the economy still growing so strongly even after the current problems and it is not unexpected that GDP will again grow around 6% a year this financial year

 

[Fahad Khan 2]

How many Pakistani companies are working in Bangladesh because one of my uncle has been send to Bangladesh has manager of Pakistani giant garment brand Gul Ahmed.....

 

[Pakistanisage]

These Pakistani businessmen are short-sighted and may end up cutting their own throats.

There is no patriotism in Pakistani business people.

 

[dawn_news]

How many Pakistani companies are working in Bangladesh because one of my uncle has been send to Bangladesh has manager of Pakistani giant garment brand Gul Ahmed.....

Pakistanis invested billions of $ in Bangladesh because of energy shortage and lullu goverment PPP. Only now some are coming back, but it will take 3 years before energy problem is fully solved at least for industries.

 

[scholseys]

These Pakistani businessmen are short-sighted and may end up cutting their own throats.

There is no patriotism in Pakistani business people.

Business and patriotism

 

[Skull and Bones]

Hasina didi is doing a fine job.

 

[Dubious]

I wouldnt be surprised UK, and even some countries here in Europe (respectable brands like Zara) has made in Bangladesh shirts and cardigans...so wouldnt be shocked if their garment exports jumps higher...

 

[Pakistanisage]

Holding their breath: Pakistani investors in Bangladesh facing uncertainty – The Express Tribune



ISLAMABAD: Billions of dollars of investment made by more than 10,000 Pakistanis in Bangladesh is facing uncertainty in the wake of tense situation there after Dhaka’s decision to hang Abdul Qader Molla and anti-Pakistan statements made by Prime Minister Hasina Wajid.
Experts monitoring the situation, however, say although the situation poses some risk of loss to the Pakistani investors, it will ultimately benefit the overall economy of Pakistan. They said the situation, if prolonged, on the one hand will discourage further Pakistani investment in Bangladesh, and on the other hand encourage Pakistani investors to come back home to cash in on the benefits to be offered by the newly acquired GSP plus status from the EU.

The ministry of commerce has not received any complaints so far about difficulties faced by Pakistani investors in Bangladesh.

The experts say the situation is not likely to continue for long. Hasina Wajid has created the situation to use it as an election card and normalcy will return after the elections are over.

Former finance minister Dr Salman Shah also agreed that the situation can have impact on the Pakistani economy but only for a brief period, as it seems to be part of the election campaign in Bangladesh.

He said her statements have created concerns among the Pakistani community there, and if the hatred spreads, Pakistani investors can come back home.

Former consultant of the Ministry of Finance, Saqib Sheerani, said the situation for Pakistanis in Bangladesh was tense but so far no Pakistanis working there have reported any incident of targeting them. “Pakistanis there are concerned, but they have not been affected yet.”

Sheerani said strikes in Bangladesh are affecting the industry’s production at an unprecedented scale. According to official statistics, Pakistanis have taken about $500 million abroad, a big chunk of which is in Bangladesh because of many concessions there.

Another positive aspect of the low production of the industry in Bangladesh, Sheerani says, is that the demand for Pakistani products in the international market can grow. Pakistan may use this situation to increase its exports, he remarked.

Former vice-president of the Federation of Pakistan Chambers of Commerce and Industry, Suhail Altaf, said Pakistanis have invested $2 billion in Bangladesh in the textile, leather and garments sector. He said although they are facing uncertainty and have an alternative now that Pakistan has become more attractive after the GSP plus status, bringing back the investment will not be possible in a short period.

He said if the situation remained the same and there are threats to the lives and property of Pakistani investors, the investment could return.

Published in The Express Tribune, December 20th, 2013.

Business and patriotism

When I said they are cutting their own throat , this is what I was talking about.

But of Course your feeble pea brain didn't undertstand that.





News Story | Pakistani Investors Likely To Pull Out Of Bangladesh | Monitor Global Outlook





ON-THE-GROUND
"I don’t see any further investment moving from Pakistan to Bangladesh in the textile industry. Pakistani businesses will be a little concerned about how the recent developments have played out on the streets of Bangladesh." - Sakib Sherani, former adviser to Pakistan's Ministry of Finance
Full Briefing
Tensions between the nations are running high following a Pakistani resolution last week expressing concern with an execution in Bangladesh.

Tensions between Islamabad and Dhaka will arrest Pakistani investment in Bangladesh.

Last week, protesters in Dhaka demanded that all diplomatic ties with Pakistan be severed after Islamabad passed a resolution expressing concern over the hanging of Abdul Quader Mollah and the Tehrik-e-Taliban Pakistan outfit threatened to attack the Bangladesh embassy in Islamabad. Mr. Mollah was convicted of war crimes including murder and rape dating back to Bangladesh’s independence from Pakistan in 1971.

“I don’t see any further investment moving from Pakistan to Bangladesh in the textile industry. Pakistani businesses will be a little concerned about how the recent developments have played out on the streets of Bangladesh,” says Sakib Sherani, former adviser to the finance ministry in Pakistan.

In the last three to four years Pakistan’s investment outside the country has been about $500-700 million, says Mr. Sherani. Where that investment is going is not publicly available, but Bangladesh has been attractive due to its preferred status in the United States and the European Union markets, he explains.

The two countries share a nominal trade volume. In 2012-13 the total export and import between Bangladesh and Pakistan stood at $558 million, mainly based on Pakistan exports to Bangladesh, according to the Chief Controller of Imports & Exports in Bangladesh. Pakistan’s import from Bangladesh during the period was $68.7 million while exports were worth $489.6 million.

“Pakistan has just got the GSP plus [generalized system of preferences accommodating tariff waivers] status as well beginning from January. So that neutralizes the advantage to relocate in Bangladesh,” says the economic adviser based in Islamabad.

With the new status effective from Jan. 1, Pakistan’s textile sector estimates that it can generate exports of $1 billion by the end of 2014.

 

[damiendehorn]

There is still a lot of growth potential in the garment sector, China is in the process of shifting a large part of its production to other more cost effective countries and much of that is likely to go to Bangladesh. We expect at least another decade of growth in this sector.

We need to think about the next stage in our development, light industries such as white goods, consumer electronics and services such as BOP, software development etc. we are already a major player in many such areas. We just need to attract greater investment and technology from such countries as China, Korea and Japan.

 

[damiendehorn]

Ps. China exports over $160bn in garments and textiles....Bangladeshi manufacturers are already looking at enticing much of that production in the coming years.

 

[dawn_news]

There is still a lot of growth potential in the garment sector, China is in the process of shifting a large part of its production to other more cost effective countries and much of that is likely to go to Bangladesh. We expect at least another decade of growth in this sector.

We need to think about the next stage in our development, light industries such as white goods, consumer electronics and services such as BOP, software development etc. we are already a major player in many such areas. We just need to attract greater investment and technology from such countries as China, Korea and Japan.

I hope Pakistan also gets some of it

 

[damiendehorn]

Damn these traitors business wil


I hope Pakistan also gets some of it

Cambodia, Vietnam, Bangladesh, Indonesia, Myanmar, and Pakistan (to a lesser extent) are predicted to benefit the most from the shift in production. However if Pakistan can manage its water resources it is likely to play a greater role in the supply of raw and processed cotton.

 

[Saiful Islam]

How many Pakistani companies are working in Bangladesh because one of my uncle has been send to Bangladesh has manager of Pakistani giant garment brand Gul Ahmed.....

I don't know about Gul Ahmed but well known fashion g

Holding their breath: Pakistani investors in Bangladesh facing uncertainty – The Express Tribune



ISLAMABAD: Billions of dollars of investment made by more than 10,000 Pakistanis in Bangladesh is facing uncertainty in the wake of tense situation there after Dhaka’s decision to hang Abdul Qader Molla and anti-Pakistan statements made by Prime Minister Hasina Wajid.
Experts monitoring the situation, however, say although the situation poses some risk of loss to the Pakistani investors, it will ultimately benefit the overall economy of Pakistan. They said the situation, if prolonged, on the one hand will discourage further Pakistani investment in Bangladesh, and on the other hand encourage Pakistani investors to come back home to cash in on the benefits to be offered by the newly acquired GSP plus status from the EU.

The ministry of commerce has not received any complaints so far about difficulties faced by Pakistani investors in Bangladesh.

The experts say the situation is not likely to continue for long. Hasina Wajid has created the situation to use it as an election card and normalcy will return after the elections are over.

Former finance minister Dr Salman Shah also agreed that the situation can have impact on the Pakistani economy but only for a brief period, as it seems to be part of the election campaign in Bangladesh.

He said her statements have created concerns among the Pakistani community there, and if the hatred spreads, Pakistani investors can come back home.

Former consultant of the Ministry of Finance, Saqib Sheerani, said the situation for Pakistanis in Bangladesh was tense but so far no Pakistanis working there have reported any incident of targeting them. “Pakistanis there are concerned, but they have not been affected yet.”

Sheerani said strikes in Bangladesh are affecting the industry’s production at an unprecedented scale. According to official statistics, Pakistanis have taken about $500 million abroad, a big chunk of which is in Bangladesh because of many concessions there.

Another positive aspect of the low production of the industry in Bangladesh, Sheerani says, is that the demand for Pakistani products in the international market can grow. Pakistan may use this situation to increase its exports, he remarked.

Former vice-president of the Federation of Pakistan Chambers of Commerce and Industry, Suhail Altaf, said Pakistanis have invested $2 billion in Bangladesh in the textile, leather and garments sector. He said although they are facing uncertainty and have an alternative now that Pakistan has become more attractive after the GSP plus status, bringing back the investment will not be possible in a short period.

He said if the situation remained the same and there are threats to the lives and property of Pakistani investors, the investment could return.

Published in The Express Tribune, December 20th, 2013.





When I said they are cutting their own throat , this is what I was talking about.

But of Course your feeble pea brain didn't undertstand that.



News Story | Pakistani Investors Likely To Pull Out Of Bangladesh | Monitor Global Outlook



ON-THE-GROUND
"I don’t see any further investment moving from Pakistan to Bangladesh in the textile industry. Pakistani businesses will be a little concerned about how the recent developments have played out on the streets of Bangladesh." - Sakib Sherani, former adviser to Pakistan's Ministry of Finance
Full Briefing
Tensions between the nations are running high following a Pakistani resolution last week expressing concern with an execution in Bangladesh.

Tensions between Islamabad and Dhaka will arrest Pakistani investment in Bangladesh.

Last week, protesters in Dhaka demanded that all diplomatic ties with Pakistan be severed after Islamabad passed a resolution expressing concern over the hanging of Abdul Quader Mollah and the Tehrik-e-Taliban Pakistan outfit threatened to attack the Bangladesh embassy in Islamabad. Mr. Mollah was convicted of war crimes including murder and rape dating back to Bangladesh’s independence from Pakistan in 1971.

“I don’t see any further investment moving from Pakistan to Bangladesh in the textile industry. Pakistani businesses will be a little concerned about how the recent developments have played out on the streets of Bangladesh,” says Sakib Sherani, former adviser to the finance ministry in Pakistan.

In the last three to four years Pakistan’s investment outside the country has been about $500-700 million, says Mr. Sherani. Where that investment is going is not publicly available, but Bangladesh has been attractive due to its preferred status in the United States and the European Union markets, he explains.

The two countries share a nominal trade volume. In 2012-13 the total export and import between Bangladesh and Pakistan stood at $558 million, mainly based on Pakistan exports to Bangladesh, according to the Chief Controller of Imports & Exports in Bangladesh. Pakistan’s import from Bangladesh during the period was $68.7 million while exports were worth $489.6 million.

“Pakistan has just got the GSP plus [generalized system of preferences accommodating tariff waivers] status as well beginning from January. So that neutralizes the advantage to relocate in Bangladesh,” says the economic adviser based in Islamabad.

With the new status effective from Jan. 1, Pakistan’s textile sector estimates that it can generate exports of $1 billion by the end of 2014.

There is little to none Anti Pakistan sentiment and there's no reason for it to be revived again. Business is business. If you are dealing with some of these middle class hot shots in BD then yes they hate Pakistan to the core, and will bash the country for no reason, but that's only in the capital and an extremely small minority.

Bannijo Mela in my city holds 2-3 stalls, they are called Pakistan Pavilion, they are vendors from Karachi who sell different types of sandals, the sandals are okay lol but the vendors are nice people.