21 clothing companies awarded Export Trophy for FY16

A total of 21 apparel, textile and garment accessories companies were awarded the National Export Trophies for their outstanding contributions to the national export earnings in the fiscal year 2015-16. Prime Minister Sheikh Hasina on Sunday handed over the National Export Trophy-2016-17 to the winners at a function at Pan Pacific Sonargaon Hotel.

Prime Minister Sheikh Hasina urged the business community to work vigorously to explore the export and other business opportunities in the global market following country’s graduation as a developing country from LDC. She was addressing as chief guest.

“As a developing nation, we will get immense opportunities in the export market and other areas of trade and business in the global market. It will help us to get credit facilities and doing business in more easy ways. So, we must take the opportunity,” she emphasized.

Sheikh Hasina also stressed that Bangladesh will lose some facilities entitled for LDCs, but it would not be a problem for us as we have already taken necessary preparation to address the situation creating a necessary business-friendly atmosphere.

Commerce Minister Tofail Ahmed presided over the award giving ceremony, where Industry Secretary Md. Mofizul Islam and President of Federation of Bangladesh Chamber of Commerce and Industry Shafiul Islam Mohiuddin were also present.

In collaboration with Commerce Ministry, the Export Promotion Bureau (EPB) organized the program to recognize exporters’ contributions to the country’s economy through exports.

As a sector, the clothing industry has received the highest number of an award in three categories gold, silver, and bronze. Among the winners, nine companies were awarded in the gold category, while six companies received the award in silver category and six in the bronze category.

Based on the export earnings, a total of 56 enterprises of 24 sectors were given the trophy. Out of them, 25 organizations received gold, 17 organizations silver, and 14 organizations bronze trophy.

Zaber and Zubair Fabrics Limited, a concern of Noman Group, received the gold trophy for the highest export earnings in fiscal 2015-16. In the FY 2015-16, the company earned $204.82 million.

“Our government is very positive towards the development of business and providing all-out support in ensuring a business-friendly environment,” Commerce Minister Tofail Ahmed said.

In expanding the export market, the government is providing 4% cash incentives against exports to new markets. While the government has included nine new products in the cash incentives list this year, said Ahmed.

Also Read: 16 apparel companies received national export trophy for FY 2014-15

As of October, Bangladesh export earnings have seen nearly 20% growth, which will continue to grow, he added.

The trophy is a recognition to the contributions of the business community to the national export as well as economy. In future, we are hoping to widen the area, he said.