15 June 2023, Mumbai

CleverTap, the all-in-one engagement platform, has fortified its compliance in the EU region through the establishment of data centers hosted on Amazon Web Services (AWS), a subsidiary of Amazon.com, Inc.

This strategic move aims to enhance the safeguarding of personal data belonging to EU residents and citizens.

Pravin Laghaate, Vice President of Europe at CleverTap, emphasized the company's dedication to safety and customer satisfaction. The local deployment of their platform within the EU will not only improve the CleverTap experience for European clients but also ensure data safety and compliance.

CleverTap is a comprehensive customer engagement platform that empowers brands to personalize and optimize consumer touchpoints. The platform, powered by TesseractDB(TM), offers audience analytics, deep segmentation, multi-channel engagement, product recommendations, and automation.

With a trusted clientele including notable brands like Electronic Arts, TED, and Tesco, CleverTap is backed by prominent investors and headquartered in Mountain View, California.

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02 June  2023, Mumbai

The Bangladesh ready-made garment industry has overcome numerous challenges and remained resilient over the years. BGMEA, with its proactive approach, has played a key role in facilitating trade and business in the country.

What all you need to know

The support from the government has been instrumental in bringing the sector to its current stage.

With a vision for 2030, the industry aims to achieve a strategic target of USD 100 billion in exports sustainably. To realize this vision, a reevaluation of business processes and a shift beyond traditional norms are essential.

BGMEA: Facilitating Trade and Business

FOC Advantage; Against this backdrop, there was a pressing need for an extended threshold for importing raw materials under a free-of-cost (FOC) basis. BGMEA presented a compelling argument to government agencies, including the NBR, advocating for this change.

As a result, the NBR issued a circular on January 4, 2023 (Circular Number: 08.01.0000.56.05.003.18/11), allowing factories to import raw materials for 6 months instead of the previous 4 months on a FOC basis.

This amendment aligns with the Import Policy for 2021-24, granting 100% export-oriented factories the opportunity to import raw materials on a FOC basis for 6 months.

Commercial Cost Reduction and Supply Chain Flexibility

Previously, the practices of the National Board of Revenue did not align with the Import Policy, causing exporters to miss out on this extended facility. Now, with the issuance of the S.R.O. by the NBR, the implementation of the Import Policy 2021-24 will proceed smoothly.

Given the heavy reliance of the ready-made garment industry on imported raw materials, this policy change will significantly increase trade capacity. Manufacturers will be able to import a greater quantity of raw materials, relieving the pressure on credit limits from banks.

This will lead to reduced commercial costs and enhanced flexibility in operations and supply chain management.

Additionally, some buyers prefer the FOC system as it allows them to procure raw materials at favorable prices from their own suppliers, which was hindered by previous policy settings.

The extended limit of import under FOC will provide manufacturers with the flexibility to import more raw materials, enabling them to pursue their desired growth trajectory.

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15 May 2023, Mumbai 

Garment Technolgy Bangladesh (GTB) 2023

Dates: June 8-10th 2023

Venue: GTB at GEC Convention Hall, GEC, More, Chittagong, Bangladesh 

Theme: A focused technology trade show for the RMG sector.

A prime marketing opportunity.

GTB - Chattogram Edition offers an exceptional marketing opportunity to showcase your products and services in the thriving hub of the country's second-largest Ready-Made Garments (RMG) production center.

With three successful editions already completed, GTB - Chattogram Edition has established itself as an ideal platform for technology and service providers to present their offerings to key decision-makers in the Chattogram market.

In recent months, the production capacity in existing factories in Chattogram has been expanding significantly. Moreover, due to its close proximity to the port, Chattogram has become the preferred location for new factories established by overseas companies.

The region is experiencing rapid growth, particularly in the Special Economic Zones created in and around Chattogram, further enhancing the marketing prospects for participants.

The exhibitor product profile at GTB - Chattogram Edition includes a diverse range of offerings such as Automation Systems, Machinery & Accessories, Boilers, CAD/CAM/CIM Systems, Chemicals & Dyes, Computer Software, Creasing, Cutting & Laying Machinery, Embroidery & Quilting Machinery, and Fastening Machines.

These products cater to the evolving needs of the industry and represent cutting-edge solutions for businesses operating in the RMG sector.

By participating in GTB - Chattogram Edition, you will gain access to a targeted audience consisting of influential decision-makers actively seeking innovative products and services.

This event serves as a springboard for establishing valuable connections, generating leads, and expanding your business opportunities in the Chattogram market.

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26 May 2023, Mumbai  

Bangladesh Remains the Second Largest Apparel Import Source

Based on the Eurostat data, Bangladesh retains its position as the EU's second-largest apparel import source, accounting for 24.07% of the total import value during January-March 2023.

In terms of quantity, Bangladesh becomes the top sourcing country for the EU. In 2022, Bangladesh secured the highest position in terms of quantity. A separate email with a detailed analysis and datasheet will be sent.

Overall Decline in EU's Apparel Imports

The latest data reveals a 4.94% decline in EU apparel imports from the world during the mentioned period compared to the same period in 2022, amounting to a decline of 1.22 billion dollars.

In terms of quantity, EU's clothing import experienced a significant downturn of 12.64%, which is 136.88 million kilograms less than January-March 2022.

A decline in Import from China, Growth in Import from Bangladesh

EU's import from China, the second-largest apparel import source, declined by 17.80% in value terms during the mentioned period, while imports from Bangladesh showed a value-wise growth of 3.9%.

However, in terms of quantity, imports from Bangladesh declined by 3.67%, primarily due to inflated unit prices caused by increased raw materials, transportation, and production costs.

Positive Growth from Bangladesh, India, and Vietnam

Among the top ten apparel-sourcing countries, Bangladesh, India, and Vietnam demonstrated positive growth in EU's apparel imports. Import from Turkey, Pakistan, Sri Lanka, and Morocco, however, declined.

EU's imports from Turkey, the third-largest apparel import source, dropped significantly by 12.79%. Conversely, imports from India and Vietnam increased by 5.75% and 3.73% respectively in value terms. Volume-wise, all top countries experienced negative growth in EU's imports.

CREDITS: BGMEA Press Release.

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15 May 2023, Mumbai 

The latest export performance data and analysis for Bangladesh during the period of July to April in FY2022-23.

According to the data compiled by the Export Promotion Bureau (EPB), Bangladesh's ready-made garment (RMG) exports reached US$38.57 billion during the mentioned ten-month period, exhibiting a growth of 9.09% compared to the same period in the previous year.

The analysis of product categories reveals that knitwear exports contributed US$20.96 billion, while woven garments accounted for US$17.60 billion. Both categories showed a year-over-year (Y-o-Y) growth of 8.97% and 9.24% respectively.

Although the overall statistics for the ten-month period indicate an upward trend, a closer look at the monthly data reveals a downward trend in the recent couple of months. Specifically, during March and April 2023, our RMG exports experienced a decline of 1.04% and 15.48% respectively.

It is worth noting that this decline comes after six consecutive months of positive growth. However, it is important to mention that the growth measured in dollar values does not necessarily reflect real growth in exports.

The increased prices of raw materials, freight costs, and other production expenses have inflated the export value, making the growth in physical quantity less significant.

CREDITS: BGMEA Press Release.

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08 June  2023, Mumbai

Strong Year-Over-Year Growth; According to official statistics, Bangladesh's Ready-Made Garments (RMG) export for the period of July-May in the fiscal year 2022-23 reached an impressive US$42.63 billion, marking a 10.67% year-over-year growth from US$38.52 billion in the same period of FY 2021-22.

Knitwear and Woven Garments Lead the Way

A breakdown by category reveals that knitwear exports amounted to US$23.27 billion, showing a 10.92% growth, while woven garments accounted for US$19.35 billion, indicating a 10.36% increase.

In May 2023 alone, the country's RMG export recorded a significant 28.33% year-over-year growth, reaching US$4.05 billion compared to US$3.15 billion in May 2022.

Impressive Growth Rates

This growth is particularly noteworthy considering the challenges faced by the industry, such as factory closures during the Eid-ul-Fitre period and reduced orders due to a slowdown in retail sales and supply chain disruptions.

Exploring Non-Traditional Markets Crucial

Amidst these hurdles, exploring non-traditional markets becomes crucial for sustained progress as economic turbulence persists in major markets.

CREDITS: BGMEA Press Release.

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19 May 2023, Mumbai  

In 2023, Bangladesh's ready-made garment (RMG) exports from January to April amounted to US$15.58 billion. The European Union (EU 27) was the largest market, accounting for US$7.70 billion, but it experienced a slight decline of 1.55% compared to the same period in 2022.

Several EU member states, including Germany, Denmark, Poland, Latvia, Lithuania, Malta, Bulgaria, and Slovenia, saw negative year-on-year growth. Notably, exports to Germany decreased by 21.08%, while exports to France and Spain increased by 9.45% and 15.45%, respectively.

During this period, exports to the United States (U.S.A.) significantly dropped by 17.86% to US$2.67 billion, and exports to Canada decreased by 0.21% to US$455.48 million. However, exports to the United Kingdom (UK) showed positive growth, reaching US$1.79 billion with a year-on-year increase of 9.56%.

On a positive note, RMG exports to non-traditional markets expanded steadily, rising by 28.95% to US$2.96 billion, representing a 19.01% share of clothing exports.

Japan emerged as the top destination with exports amounting to US$566.99 million, and exports to other non-traditional markets like Australia, India, South Korea, and Turkey also grew. However, exports to Russia, the United Arab Emirates (UAE), and Chile declined.

As Asian markets present promising opportunities, exports to emerging markets such as Japan, India, and South Korea are on the rise. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) continues its efforts to explore non-traditional markets.

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13 May 2023, Mumbai 

Event: Bangladesh Denim Expo 2023

City: Dhaka

Dates: 16th to 17th May 2023.

The management said,", The response from the previous show was event was beyond imagination, and we are expecting the momentum to continue for this show too. The two-day-long Bangladesh Denim Expo is aimed at promoting Bangladeshi denim goods".

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06 June  2023, Mumbai

Dates: 22-23-24 June 2023

Organiser:Worldex India

Venue: Halls 2 & 4, ICCB, Dhaka (Bangladesh)

Number of Exhibitors: 125+

The Cotton Textiles Export Promotion Council (TEXPROCIL) is organizing the participation of 24 member exporters.

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19 May 2023, Mumbai  

4ocean and U.S. Polo Assn. are renewing their commitment to combat the ocean plastic crisis through a global sustainability partnership.

Their shared objective is to remove 150,000 pounds of trash from the world's oceans, building on their previous success of eliminating 60,000 pounds of plastic.

The partnership, which began in 2021 and will continue until 2024, highlights U.S. Polo Assn.'s proactive stance towards sustainability and aligns with their broader initiative, USPA Life, aimed at minimizing their environmental impact.

The collaboration extends beyond direct clean-up efforts, with 4ocean's involvement as the Official Sustainability Partner at prominent events like the U.S. Open Polo Championship Final, raising awareness among millions of spectators and sports enthusiasts.

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09 May 2023, Mumbai 

Highlights:  CHINA INTERNATIONAL SEWING MACHINERY & ACCESSORIES SHOW (CISMA) 2023 is a B2B event and, is the world's largest professional sewing equipment exhibition.

Venue: Shanghai New International Expo Center

Date: 25th September 2023 to 28th September 2023

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