Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Saturday, July 11, 2020 02:41:50 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Sino-US trade war creates big opportunity for BD

By
09th-Jun-2019       
Share
  • Twitter
  • Google+
  • Save
  • E-mail
  • Print
Comments
Share your thought
Post a comment »
Read all () »

Kazi Zahidul Hasan  :
Bangladesh's apparel export to the US market witnessed a significant rise during the first ten months of the current fiscal year (2018-19) thanks to the US-China trade war that has created an opportunity for the local exporters.
The country's garments export to the US grew by 16.43 per cent to US$5.1 billion during July-April period of the current fiscal year as compared to the corresponding period of the previous fiscal, according to an official figure.
Bangladesh is the second largest apparel exporter after China and the south Asian nation earned over US$30 billion from exports of apparel in the last fiscal (2017-18).  
"Bangladesh's apparel exports to the US market has recorded a significant growth during the said period taking the benefit of the ongoing trade war between the US and China," Faisal Samad, Senior Vice-President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), told The New Nation yesterday.
He cited that a heavy tariff on Chinese goods forced the US buyers to shift their orders from China to other low cost manufacturing countries creating a big opportunity for Bangladeshi manufacturers.
"More work orders are expected to shift from China in the days to come ultimately benefiting the Bangladeshi garments sector," said Faisal Samad.  
Replying to a question, he said that no doubt, an opportunity has been created. But, we need to do more in the areas of product diversification and value addition to have a bigger share in the US apparel market.  The US recently raised tariffs to 25 per cent from 10 per cent on US$200 billion worth of Chinese exports, including garment items, marking a sharp escalation in tension between the world's two largest economies.
Bangladesh's apparel products are subjected to pay 15 per cent average duty while entering the American market.  
"The trade war between US and China has caused a shift in global trading system creating an opportunity for some low cost Asian manufacturers like Bangladesh and Vietnam," Dr Ahsan H Mansur, Executive Director of the Policy Research Institute (PRI), told The New Nation.
He said that the latest apparel export trend indicates that Bangladesh gains from the ongoing trade war. Even before the trade war, Bangladesh's share in the US garment exports was on the rise due to competitiveness of its products.
Garments shipments make up nearly 85 per cent of Bangladesh's total export.
"Imposition of a higher tariff on Chinese exports has given an opportunity to Bangladesh to pick up its shares in the US market. Local manufacturers must diversify their products to take full advantage of the situation," noted Khondaker Golam Moazzem, a research director of the Center for Policy Dialogue (CPD).  
He believes that Bangladesh's export to the US market will increase further cashing the additional flow of work orders from the US buyers.
Bangladesh fetched $5.60 billion from exports to the US market in 2018, and apparel products alone contributed to US$5.40 billion of the total exports, according to a US official data.

Tariff
Add Rate

News Archive

Inside The New Nation

City »

RAB-10 nabbed three criminals from South Keraniganj in Dhaka district on Friday for their alleged involvement in rape.


.

Cricket »

Five-for box ticked, now time to get a hundred, says Jason Holder


Agency :West Indies captain Jason Holder said "my Test is far from over" after he rocked England with a career-best six-wicket haul on the second day of the series opener at Southampton on Thursday.Holder, the world's top-ranked all-rounder, took 6-42 as England were dismissed for 204 to surpass his previous ...

International »

Mayor of Seoul found dead


Reuters :One of South Korea's most prominent elected officials and longtime mayor of the capital, Seoul, was found dead on Friday after his daughter reported him missing amid a criminal investigation and media reports of alleged sexual harassment.Officers using drones and sniffer dogs found Mayor Park Won-soon's body at Mt ...

Entertainment »

Sanya Malhotra says about her co-star Vidya Balan


Sanya Malhotra is a phenomenal actress and has always delivered performances that will stay with us. Sanya Malhotra shares her insights on the things she learnt from her co-star Vidya Balan during the shoot of Shakuntala Devi. The actress says, “The one thing that I have learnt from her is ...

Editorial »

Woes of our job seekers trafficked to Vietnam and other countries


The stranded illegally trafficked workers recently  forcibly  entered  our embassy in Vietnam and demanded help to send them back to Bangladesh as they had no way to pay for the airfare. The embassy officials informed the foreign ministry but the foreign ministry's reply was the government had no funds for ...

Sports »

Asia Cup postponed due to coronavirus


Agency :The Asian Cricket Council (ACC) on Thursday evening confirmed what Board of Control for Cricket in India (BCCI) President Sourav Ganguly had announced on July 8, that the 2020 Asia Cup has been cancelled.The ACC said that they are working towards securing June 2021 as a suitable window for ...

Business & Economy »

Mahmudur Rahman, Senior Executive Vice President and Head of Noakhali Zone of Islami Bank Bangladesh Limited, inaugurating its sub branch as chief guest at Dudmukha Bazar in Dagonbhuiyan in Feni recently. Businesspersons, Professionals and social elites were also present in the function.


.

Entertainment »

Nandita returns with Gaan-er Oparey


Entertainment Report :Gaan-er Oparey is a regular musical show on Ekushey Television. In 2013, popular singer of present time Sanzida Mahmood Nandita performed in the programme to keep invitation from producer of the show Mohsina Rahman. During break of that programme while discussion with Nandita, Mohsina Rahman offered her to ...

International »

US to conduct military training with Cyprus, upsetting Turkey


Al Jazeera News :The United States has said it will conduct military training with the Republic of Cyprus for the first time, drawing criticism from its NATO ally, Turkey.The announcement came months after the US Congress late last year ended an arms embargo on the entire island, imposed in 1987 ...

City »

Progressive Students' Alliance forms a human chain in front of the Jatiya Press Club on Thursday in protest against destroying of furnitures and certificates of tenant students.


.

Editorial »

Hospitals like Regent are the creation of corruption level


THE Rapid Action Battalion (RAB) on Tuesday sealed off two units of Regent Hospital in the city's Uttara and Mirpur area over their alleged involvement in issuing fake Covid-19 certificates and taking money from coronavirus patients for treatment. RAB in response to huge complaints conducted the drive and found many ...

City »

Bangladesh Kindergarten Association forms a human chain in front of the Jatiya Press Club on Wednesday to realize its 10-point demands including stimulus packages for education entrepreneurs.


.

International »

Death toll in Ethiopia violence over singer's killing hits 239


Al Jazeera News :The death toll from demonstrations and ethnic violence that erupted in Ethiopia last week following the murder of a popular singer from the Oromo ethnic group has risen to 239, according to police.Pop star Haacaaluu Hundeessaa, a hero to many Oromo who saw him as the voice ...

Entertainment »

Deepika Padukone to participate in session on mental wellness


Bllywood actress Deepika Padukone will soon be opening up about the importance of mental health, and dealing with the stress, anxiety and depression during the pandemic, through a virtual session. “The COVID-19 pandemic has caused much turmoil; social isolation, uncertainty about the future and coping with academic pressures, to name ...

International »

Taliban violence threatening peace process: Ghani


AFP, Kabul :Afghan President Ashraf Ghani warned on Monday that Taliban violence is threatening the country's peace process, as he briefed the international community on Kabul's preparations for peace talks with the militant group.Afghan authorities and the Taliban are preparing to engage in negotiations aimed at ending the nearly two-decade-old ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news