Monthly Archives: October 2008

Bangladesh gains $ 2.10m export order from GITEX-2008 UAE

Bangladesh gains $ 2.10m export order from GITEX-2008 UAE


A five-day long trade fair titled ” Gulf Information Technology Exhibition” (GITEX-2008) was successfully ended on October 23 in World Trade Center in Dubai, UAE.

Five IT companies took part in the fair started on October 19 under the auspices of Export Promotion Bureau. IT products like software, Hospital management System, Banking management System and other related IT solution were exhibited in the fair.

Bangladesh pavilion was inaugurated by HE Nazmul Quaunine Ambassador of the Peoples Republic of Bangladesh to the UAE. The main objective of participation in this fair was to introduce recent Bangladesh IT related products within the Middle-East and the North-African region with a view to expand our export market Approximately 1,24,312 visitors from 137 countries visited GITEX-2008.

Bangladeshi participants had a sense of business meeting and exchange views with large number of buyers, agents and visitors for developing future business relation. It is reported by the participants spot orders of an amount of US$ 2.10 million could be achieved out of our participation in the GITEX-2008.

It is expected that from the participation in the fair that Bangladesh would be able to significantly boost up her IT export market in Middle -East and African Countries.


BRRI develops three rice varieties including one hybrid

One step ahead of food security: BRRI develops three rice varieties including one hybrid

The scientists of Bangladesh Rice Research Institute (BRRI) have developed three new rice varieties, namely BRRI dhan-48, BRRI dhan49 and BRRI hybrid dhan 2.

The National Seed Board (NSB) has recently released the varieties for mass cultivation. With these three, the total number of BRRI developed high yielding modern rice varieties stand at 50.

Yield of BRRI dhan48, a transplanted Aus variety with 115 days growth duration, is 5 tons per hectare (7.47 biga).

Its milled rice is medium size and cooked rice non-stiky. It is moderately resistant against bacterial blight, says a press release.

BRRI dhan49, a transplanted Aman variety with 135 days growth duration, has the potential to yield half of a ton per hectare more than BR11 and one ton more than BRRI dhan 32. Size and taste of the variety are like that of the Nizersail.

The variety would meet the long time demand of the farmers and consumers. Intensity of pest attack in the variety is much less than that of BR11`. Stem of the variety is strong enough to keep the rice plant upright during stormy wealth. Moreover, it is 7-10 earlier than BR11.

BRRI hybrid rice scientists have developed another hybrid rice, namely BRRI hybrid dhan 2 suitable for the Boro season and the agro-climate conditions of he country.

It has 8.5 tons yield per hectare with 145 days growth duration. Its milled rice is medium slender and cooked rice is non-sticky. NSB released the variety for mass cultivation in Dhaka, Comilla, Jessore and Rajshahi.

In 2003, BRRI for the first time developed BRRI hybrid dhan 1.

Experts say, cultivation of the three varieties would contribute much to attain food security of the country.

Ericsson teams up with Buet

Ericsson teams up with Buet
Star Business Desk

LM Ericsson Bangladesh Limited (EBL) has signed an agreement with Bangladesh University of Engineering and Technology (BUET), under which it will provide telecommunication technology related training to the under graduate students of Electrical and Electronic Engineering Department of the Buet, says a press release.

Professor AMM Safiullah, vice chancellor of Buet, says, “This is a very positive step towards building telecom competence in Bangladesh. I am delighted to have this partnership of Buet with Ericsson”.

Telecommunication has become one of the basic needs of modern world and this need is ever changing. In a recent study conducted by the London Business School revealed that there is a direct impact of mobile penetration in a country’s GDP growth, the release added.

Bangladesh, Libya to sign manpower export agreement

Bangladesh, Libya to sign manpower export agreement
United News of Bangladesh . Dhaka

Bangladesh and Libya will sign a memorandum of understanding on manpower export today, the ministry of expatriates’ welfare and overseas employment announced it on Thursday.

The MoU will be signed by foreign adviser Iftekhar Ahmed Chowdhury, also in-charge of the ministry of expatriates’ welfare and overseas employment, and visiting Libyan labour minister Maa’touq Mohammed Maa’touq following discussions between the two sides at the state guest house Padma.

Iftekhar Chowdhury said, ‘This will be a significant breakthrough for our manpower export. Libya is an expanding market. Its growing cooperation with the West is opening up many opportunities for Libya.’

‘We should take advantage of this. The MoU will open a new door for all categories of workers. We have also decided to send a full-fledged ambassador to Tripoli now which will give this added impetus,’ he said.

At present, there are over 20,000 Bangladeshi workers employed in Libya.

‘The MoU will not only facilitate the dispatch of more manpower but will also protect the interest and promote the welfare of our workers, which is our current emphasis,’ Iftekhar Chowdhury concluded.

Bangladeshi garment fair in Denmark fetches spot order of $130m

Bangladeshi garment fair in Denmark fetches spot order of $130m

Dhaka, Bangladesh, Oct 29 (BSS)-The first-ever Bangladeshi garment fair in Denmark has fetched spot orders worth $ 130 million from the potential buyers of Scandinavian markets.

The five-day fair, organized by the Dhaka International Exhibition Company Limited (DIEC) in association with the Danish Chamber of Commerce, was held from October 20 to 24 at Copenhagen, Herning and Arhas of Denmark.

A total of six Bangladeshi garment manufacturers and exporters have displayed their knit, woven and sweater products, a press release said today.

Buyers from different European markets including Denmark visited the fair and placed more than expected orders.

Read the full article:

Ananda Shipyard building ships for S’porean co

Ananda Shipyard building ships for S’porean co

FE Report

The country’s pioneering shipbuilder Ananda Shipyard and Slipways Tuesday started constructing two ocean-going vessels for a Singaporean company in a further sign of emergence of Bangladesh as a new ship-making destination, an official said Tuesday.

Director of the company Rokibur Rahman said the two ships weighing 6100 dead weight tonnes and valued at US$ 23.9 million (Tk1.67 billion) will be built at Ananda’s Meghnaghat shipyard within the next two years.

“We will hand over the ships to the Singaporean buyer-Hildebrand Singapore Pvt. Ltd.-by October 2010,” he said.

Managing director of Ananda Afrooza Bari and representative of Hildebrand Saifuddin Qamar jointly keeled off the construction work of the two vessels at a simple ceremony.

Ananda signed the agreement with the Singaporean company in July last year, but needed months to complete further negotiations and formalities.

The two are among a fleet of 34 small and medium capacity ocean-going ships Ananda is ordered to build by top shipping companies from Europe, Africa and Asia. The orders are valued at around $400 million.

The company has signed ship-making deals with the Maldives and Mozambique governments and companies from Denmark, Germany and Singapore.

Ananda was first to transform itself from a maker of launches and inland cargo vessels into a successful builder of small ocean-going vessels. Last month, it exported its first ocean-going vessel to a Danish company.

Officials said another six vessels ordered by Mozambique government have already been built and will be handed over to the buyer by the first week of November.

Ananda’s success has placed Bangladesh firmly on the global shipbuilding map since early 2007, with new companies now quickly setting up shipyards and slipways to win orders from ocean-going vessel operators.

Two more companies, Western Marine and Highspeed Shipbuilding, have also wooed orders worth around $250 million from Danish, German and Dutch companies.

Half a dozen top companies have also entered the lucrative business to tap into the $200 billion worth of global small shipbuilding market.

Exporters see silver lining

Exporters see silver lining
Rejaul Karim Byron and Refayet Ullah Mirdha

Garment exporters and major buyers say the global economic crisis will not affect Bangladesh’s readymade garment sector as it exports mainly basic products.

“Buyers will flock to Bangladesh for cheaper RMG products as major competitors such as China, India and Vietnam make mainly high-end garments,” said an official of a buying house, requesting anonymity.

He said the sales of cheaper RMG products increased both in Europe and the US by 20 percent following the global financial turmoil.

Manufacturers said only 5 percent of Bangladesh’s readymade garments are high-end.

KI Hossain, a local buyer, said the global financial recession might be a boon for Bangladesh and a bane for competitors.

“The number of orders we are receiving from foreign buyers is still high as the buyers now look to cheaper RMG products,” he said.

“I don’t see any negative impact of the financial turmoil on the export of Bangladeshi readymade garments,” said a senior official of an international buying house in Dhaka.

Talking to The Daily Star, Ghulam Faruque, chairman of SQ Group, one of the largest sweater exporting groups in Bangladesh, said: “Till now, the situation is good as the flow of foreign orders has been the same. It was rather higher in some cases”

“The bad impact of the global recession may be felt in February or March if the situation in the western financial markets does not improve,” Faruque said.

KM Rezaul Hasanat, managing director of Viyellatex Group, said the buyers of high-end readymade garments of India and China would now outsource products from Bangladesh.

The orders are usually low from August to October and start peaking up from November. “So, we should not be worried about orders,” Hasanat said.

He cautioned that some ‘so-called’ buyers might want to take the opportunity of the recession.

“They may demand rebates or concession. We must handle such a situation smartly,” Hasanat said. He said he did not receive any fewer orders than before.

A recent study of the International Monetary Fund (IMF) said Bangladesh’s abundant and relatively low-cost labour made it an attractive destination for investors.

“Its success in the garment industry, which was the starting point in the industrialisation process for many of the East Asian economies, will make it attractive to investors as will its growing domestic market and good access to the huge Indian market,” said the IMF study report.

According to the study released a week ago, “Although competition is becoming more intense, Bangladesh’s strong market position does not look like diminishing in the short term.”

Bangladesh set an export target at $16.298 billion for fiscal 2008-09, with the readymade garment sector to earn the highest amount of foreign currency. Of $16.298 billion, $12.267 billion is expected to come from two main sub-sectors of RMG: knitwear and woven.