Page 63 - New Cloth Market December 2022 Digital Edition

INTERNATIONAL BUSINESS PAGES

Extended Facilities for Trade Trans-
actions: To facilitate smooth transition BGMEA joinds hands witth Miss World
in the external trade activities of the Bangladesh to promote Bangladesh globally
country, the following decisions have
been implemented:
a) The usage period for industrial raw
material imports, including back-to-
back imports under supplier or
buyer credit, has been extended up
to 270 days under the Guideline for
Foreign Exchange Transactions
(GFET)-2018, Vol.-1. Later, it has
been decided to extend the usance
period to 360 days from 270 days
effective till December 31, 2022.
The extended usance period will not The Bangladesh Garment Manufacturers and Exporters Association
be applicable for imports under (BGMEA) has joined hands with Miss World Bangladesh Rafah Nanjeba
EDF loans (FE Circular No-18, Date Torsa in promoting Bangladesh in the international arena.
July 20, 2022).
Ms. Rafah will represent Bangladesh in the World Miss University beauty
(b) The Export Development Fund pageant competition.
(EDF) limit for individual BTMA and
The World Miss University is a Seoul-based beauty pageant started in 1986
BGMEA member mills have been
to celebrate and promote the United Nations’ recognition of the International
enhanced to USD 30 million from
Year of Peace. WMU selects representatives who will promote UN-affiliated
USD 25 million and the period of
events and volunteer for peace services.
EDF loan remained valid for the
respective transactions till Decem- BGMEA President Faruque Hassan made announcement at a program held
ber 31, 2022 (FE Circular No-16, at BGMEA Complex in Dhaka on November 20. Rafah Nanjeba Torsa was
Dated July 19, 2022). present on the occasion.
Conclusion BGMEA President Faruque Hassan said Bangladesh has a lot of encourag-
ing stories to tell the world.
As the present economic turbulent situ-
ation prevailed more in our major ex- “All should come forward and join hands to promote Bangladesh internation-
port destination countries, Bangladesh ally. BGMEA has been working to branding Bangladesh through its own
should set its new target destination initiatives,” he said.
towards promising Asian economies
“Since it’s a big opportunity for Nanjeba Torsa to represent Bangladesh inter-
like Japan, India, China, South Korea
nationally, BGMEA is happy to join hands with her in promoting Bangladesh
and the Middle East. At the same time,
at international platform,” he added.
Bangladesh should also put priority on
diversification of man-made fibres
(MMF) and global technical textile
markets as they fetch higher profits
than cotton-made items.
(Courtesy: Research Department, Exter-
nal Economics Wing, Bangladesh Bank

BGMEA President calls
upon Denmark Ambas-

sador to promote RMG
industry

Ambassador of Denmark to Bang-
ladesh Winnie Estrup Petersen paid a
courtesy call on BGMEA President

NCM-DECEMBER 2022
63