The New Nation - Internet Edition

BKMEA eyes Japan as new export destination

BUSINESS REPORT

Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) is diversifying its focus towards new destinations, other than traditional US and EU Markets in order to increase its export share in the world market

The association is now looking towards potential markets like Russia, Australia, but aiming to increase their exports mainly to Japan.

Readymade garment (RMG) sector is one of the biggest foreign exchange earners for the country.

Sources from BKMEA said," Knitwear import in Japan is quite high. Each year this country imports near about 10 billion knitwear garment. It also has a stable economy.

Our earning from Japanese market is mere US $6 million. Now we are planning to increase our market share and make this region as one of our largest export destination.

The reason for eying this particular region, you can say is we are now planning to expand our horizons.

"Another reason can be attributed to economic instability in US and EU. However, we will continue our business in these two countries as these account 90 percent of our total exports, and other 10 percent goes to other countries."

Discussing the strategy to enter this market, the BKMEA source said, "We need to enhance our products on factory level, improve our production capacity so that we can cater to both out traditional as well as new found export destinations.

Since there is GSP in the country and consumption pattern is different, it will not be much difficult for us to capture that market."

Sonali Bank limited Staff College arranged workshop on 'Credit Risk Grading’

Sonali Bank Limited Staff College arranged a workshop on Credit Risk Grading on 24th October, Friday in the conference room of its Head Office in the capital.

The participants of the workshop are the corporate branch head of Dhaka metropolitan area.

The main objective of the workshop is to give practical knowledge to the participant about the credit risks before and after the loan being sanctioned. AHM Shahnewaz, Principal, Staff College was the main resource person while Raihana Anlsa Yusuf All DMD of the Bank Inaugurate the workshop. M. A. Baten Khan GM Incharge of the staff college was also present in the workshop.

Ericsson to manage BanglaTrac Communications switching infrastructure

Bangla Trac Communications, international gateway (IGW) operator, has selected Ericsson to manage operations of their new switching infrastructure. The agreement is the first of its kind in Bangladesh.

A sister of Bangle Trac Group, Bangla Trac Communications is a new entrant in the telecom sector of Bangladesh as a licensed IGW.

In February, the company was awarded a license for the international gateway through a competitive auction. The company aims to diversify Bangla Trac Group's business into the telecommunication sector.

According to the agreement, Ericsson will provide operational readiness and manage the day-to-day operations of the new wireline network providing gateway services for incoming and outgoing international traffic.

In an earlier agreement, Ericsson had agreed to deliver and implement a fixed-line network based on total Ericsson solution with its Telephony Softswitch, Redback SmartEdge routers and the Marconi OMS multi-service provisioning platform (MSPP).

With the help of this partnership, Bangla Trac expects to launch its international gateway services quickly.

"The combination of services and technology from Ericsson enables us to reduce costs and focus on our customers' needs by launching services faster and more efficiently," said Tarique E. Haque, CEO at Bangla Trac Communications.

Earlier this week, Ericsson announced that it is collaborating with Intel (News - Alert) to bring high speed packet access (HSPA) mobile data solutions to mobile Internet devices (MIDs). Ericsson said that it's extending its 3G mobile broadband technology from notebooks to a range of pocketable devices with various purposes.

The Ericsson HSPA data solution is targeted at Intel's Moorestown platform and is scheduled for release in the 2009/10 timeframe.

Global crisis could be boon for Bangladesh

bdnews24.com, Dhaka

A former central banker says Bangladesh could benefit in some ways if the global economic crisis does not linger beyond a year.

"It may lead to lower inflation. And because of the crisis affecting the investment climate in developed countries, laundered money may even find its way back to Bangladesh," Khondoker Ibrahim Khaled, a former Bangladesh Bank deputy governor, said Wednesday.

"If such money comes back, the authorities should consider relaxing investment rules," said Khaled, who also ran government-owned Sonali Bank as managing director.

Speaking at a discussion hosted by the Economic Reporters' Forum, Khaled, now chairman of the state-owned Krishi (agricultural) Bank, said the state of emergency slowed the local economy to the point that there had been no growth at all.

"Our share market is unlikely to suffer any sudden crisis. Because the volume of foreign investment is very low, and the global crisis has virtually nothing to do with such markets."

He said exports and remittance were unlikely to be affected.

"Exports will not suffer because of the crisis as garments (the type Bangladesh exports) are a product considered to be a necessity. "And 80 per cent of our (migrant) workers are based in the Middle East. The nature of their jobs will ensure they will not be affected by the economic crisis," Khaled said.

"If a few Bangladeshis lose jobs in Europe and North America and return, there won't be much impact on remittance. There may be some social impact."

But economics professor Wahiduddin Mahmud said he believed external trade could be exposed to the crisis in the longer run.

Mahmud said the local commercial banks must be careful about "risky" lending.

"Consumer credit has to be stopped through enactment of law," said Mahmud, who teaches economics at Dhaka University.

The head of the largest exporters' group came up with three proposals for Bangladesh to steer clear of the crisis path.

"Build workforce, reduce prices of oil and fix two different exchange rates for export and import," said Anwar-ul-Alam Chowdhury Pervez.

DSE CEO Professor Salehuddin Ahmed, CPD executive director Mostafizur Rahman were among those who also spoke.

DCCI's training course on 'Marketing is Everything’ ends

DCCI Director, Nessar Maksud Khan at the Certificate Awarding ceremony of five day training course on "Marketing is Everything" laid emphasis on marketing at every phase of life. He told that after WTO's emergence, we are committed by rules to produce quality products and market them at competitive prices. Under such situation qualified and trained employees are essential to run a modern business.

All officials in an enterprise perform marketing function, from meeting with the board to creating a product or service, answering the phone, sweeping the floor or touching the customer; marketing is a challenging work, he observed.

Joint Secretary (Training) Md. Jawadur Rahman Choudhury, briefed about other training activities of DCCI Business Institute including Knowledge Centre which, provides internet based training and information.

Jawadur Rahman said that OBI offers about 40 short training courses at affordable price as an extension of DCC l's services to the business community. In order to serve the community better, OBI periodically reviews and revises its training contents to meet the need of the time.

OBI as the only Authorized Examination Body of International Trade Center (ITC) Geneva has been holding International Certificates & Diploma Examination on IPSCM (International Purchasing and Supply Chain Management) in Bangladesh. Deputy Secretary (MIS) Shamsuddin Azad was also present during the program.

The course titled "Marketing is Everything" aims at familiarizing: An Introduction of Marketing, Market Mix and Environmental Factors, Understanding Consumers, Market Segmentation, Market Research and Positioning, Product Development & Pricing Strategy, Sales Management and Distribution Management.

IBBL Chairman admires Bangladeshi expatriates

A meting was held at Asteria Club of New York in USA organised by Islami Bank Bangladesh Limited. Prof. Abu Nasser Muhammad Abduz Zaher, Chairman, Board of Directors of the Bank was present in the meeting as the Chief Guest and Consul General Shamsul Haque, Bangladesh Consulator in New York was present as Special Guest. Conducted by Mahtab Uddin, Coordinator of the meeting M. Fariduddin Ahmad, Managing Director of the Bank addressed the function.

Prof. Abu Nasser Muhammad Abduz Zaher admired Bangladeshi expatriates as they send remittance to the country working in the competitive job market of USA. He pointed out that the remittance sent by the expatriates plays significant role to fortify the economy of the country. He said that Islami Bank has achieved the recognition of the mass people of Bangladesh by dint of it's standard customer service and successive growth.

He said, all the activities along with recruitment and investment of the Bank are free from nepotism and corruption. Since the inception, the Bank has been rendering complete security of deposit, investment and growth of all sorts of client irrespective of their views and religion. IBBL is committed to keep itself aloof from any temptation of profitable investment which goes against the interest of the country and national economy.

He urged the expatriates to contribute in the development of the country by sending their hard earned remittance. He pointed out that the mission of IBBL is honesty, reliability, growth and best service.

He said that IBBL is not a Bank of a specified person or party. The Bank is for all. People of every region of the country are requesting to open Branches of the Bank in their own localities because of it's developed customer service and successive progress. The Bank is now admitted as the Bank of all people.

Shamul Haque said in his speech as Special Guest that to face the economic crisis around the world Islamic financial system and Islamic Banking can be followed as models. He mentioned that dishonesty and disbelief are the main cause of present economic crisis. He also said that Islamic Banks of the world particularly IBBL have been able to gain the reliability of the people because they are conducted with sincerity and dedication. He requested the authority of IBBL to conduct research over the new mechanisms and fields of investment to improve the economy of the country and face the challenge of present financial.

Bangladeshi garment expo in Denmark gets huge response

Bangladeshi garment show and one-to-one business meeting in Denmark has achieved huge success, fetching volume of spot orders and future commitments from the potential buyers. The buyers have expressed their satisfaction and showed keen interest to import Bangladesh readyrnade garments in future.

The 4-day long show started on 20 October at Danish Chamber of Commerce at Copenhagen, Denmark with huge enthusiasm. The show has also been organised in two more ci1ies of Denmark at Jutland and Aarhus, the potential garment and port cities of the business hub of Europe.

Honourary Consul of Bangladesh Petter Andersen, Chief Advisor of Danish Import Promotion Program Marie Visti Hansen, Dhaka International Exhibition Company Managing Director Enayet Karim, Danish Chamber leaders and a good number of garment buyers and businessmen were present in the inaugural ceremony of the show; started at the Auditorium of Danish Chamber.

It is worth mentioning that the show and one-to-one business meeting is oranised by DIEC and Danish Chamber of Commerce.

A total of 8 Bangladeshi garment manufacturers and exporters have been participating in the show.

PRICE and World Fish Centre partner to raise shrimp farm yields

The USAID-funded PRICE project and the WorldFish Center announced an immediate initiative to raise shrimp farm yields for the benefit of the entire shrimp sector. Under a subcontract with PRICE, the WorldFish Center would implement the GHERS (Greater Harvest and Economic Returns from Shrimp) initiative with partner depot owners to provide embedded extension services to 2,000 bagda and golda farmers for the 2009-farming season.

The Bangladesh shrimp and prawn farms have historically had significantly lower yields than competitor countries due to very traditional farming methods. These very low yields have been one of the most serious sector constraints, contributing to significant under-capacity at the processing level. This in turn has also led to significant quality issues due to the fierce competition for supply at the processing level.

Working from a PRICE office in Khulna, the WorldFish Center will train extension facilitators of the partner depots to train bagda and golda farmers on modified traditional farming techniques to significantly increase pond yields. In recent USAID-funded projects, WorldFish has demonstrated that net yields and profits may increase by over 100 percent. "This PRICE initiative will definitely promote increases in production and quality by improving farming methods and farmer group cooperation", said Alan Brooks, Regional Director, WorldFish Center.

Accordingly, PRICE looks to assist up to 15,000 farmers throughout the life of the project, including linking them with progressive processors for export sales. This could result in 50 million USD in sales and 14,000 new jobs for the sector, benefiting the entire value chain. "The GHERS initiative presents an excellent opportunity for PRICE to address one of the most serious sector constraints, which is the lack of an adequate supply of raw shrimp and prawn for processing and export," said Bob Webster, PRICE Chief of Party. "PRICE and the World Fish Center look forward to working with our partner depots, farmers and processors during this entire initiative, which will complement our other efforts for the shrimp sector." PRICE (Poverty Reduction by Increasing the Competitiveness of Enterprises) is a USAID funded project whose objective is to reduce poverty by facilitating the increase of sales, jobs and investment in aquaculture, horticulture, and leather products. PRICE's activities will be driven by the demand of the market and will seek for the benefits of growth to be shared with women, young adults, SMEs and farmers as much as possible.