The statement said both sides “take note of recent and forthcoming commercial deals in the areas of agriculture, energy, and technology,” including “purchases of energy products, with an estimated value of $15 billion over 15 years.”

The energy commitment forms part of a broader trade package aimed at expanding market access, reducing tariffs and addressing long-standing non-tariff barriers. The agreement builds on existing cooperation, including the US–Bangladesh Trade and Investment Cooperation Forum Agreement (TICFA) signed in 2013.

Under the deal, Bangladesh agreed to provide “significant preferential market access for US industrial and agricultural goods,” covering products such as energy items, chemicals, machinery, motor vehicles and parts, medical devices, ICT equipment, soy, dairy, beef, poultry, and fruits and nuts.

In return, the United States will reduce the reciprocal tariff rate on Bangladeshi-origin goods to 19 per cent and extend zero-duty treatment to selected products. Crucially for the apparel sector, Washington committed to establishing a mechanism under which “a to-be-specified volume of apparel and textile imports from Bangladesh can enter the United States” at a zero reciprocal tariff rate, linked to Bangladesh’s imports of US-produced textile inputs such as cotton and man-made fibres.

This effectively opens the door for ready-made garments produced using US raw materials to enjoy duty-free market access to the US, potentially boosting Bangladesh’s competitiveness in its largest export destination.

Beyond tariffs, both sides agreed to tackle non-tariff barriers affecting trade and investment. The joint statement said Bangladesh would accept vehicles built to US federal motor vehicle safety and emissions standards, recognise US Food and Drug Administration certificates and prior marketing authorisations for medical devices and pharmaceuticals, and remove import restrictions or licensing requirements on US remanufactured goods.

The agreement also includes commitments by Bangladesh to permit the free transfer of data across trusted borders, support “the adoption of a permanent moratorium on customs duties on electronic transmissions at the World Trade Organization,” digitalise customs procedures, adopt good regulatory practices, and remove barriers in the insurance market.

On labour and sustainability, Bangladesh pledged to protect internationally recognised labour rights, including “adopting and implementing a prohibition on the importation of goods produced by forced or compulsory labour,” strengthening freedom of association and collective bargaining rights, and improving enforcement of labour laws. It also committed to “adopt and maintain high levels of environmental protection and effectively enforce its environmental laws.”

In addition to energy purchases, the two countries also noted other commercial deals, including aircraft procurement and about $3.5 billion worth of US agricultural products, such as wheat, soy, cotton and corn.

The United States said it would work through institutions such as the Export-Import Bank of the United States and the US International Development Finance Corporation to consider supporting investment financing in critical sectors in Bangladesh, in collaboration with US private sector partners.

Both governments said they would “promptly finalize the Agreement on Reciprocal Trade” and complete domestic formalities before it enters into force.

BBN/SSR/AD

Expressing deep concern over the disruptions to normal port activities, BGMEA Acting President Selim Rahman on Monday sent a letter to Chattogram Port Authority Chairman Rear Admiral S M Moniruzzaman, urging him to take immediate steps to ensure smooth port operations.

In the letter, he said protests by port workers and employees over the leasing of the New Mooring Container Terminal to Dubai-based company –DP World – have severely disrupted normal port activities, resulting in near paralysis of import and export operations of the RMG sector.

The BGMEA president noted that the garment sector is a time- and season-sensitive export industry, where timely import of raw materials, production and shipment within buyers’ lead time are critically important. Any failure to deliver goods on schedule could expose exporters to substantial financial losses.

He also mentioned that the ongoing blockade programme by workers and employees over the past two days, along with uncertainty over its resolution, has created deep concern among exporters and put ongoing export orders at risk.

Against the backdrop of declining global demand and rising competition, any prolonged disruption could seriously undermine buyer confidence and increase the risk of future export orders shifting to competing countries, posing a major threat to Bangladesh’s export sector, according to market operators.

BNN/SSR/AD

Such facility has been permitted for a usance period of up to 360 days, extended from 180 days earlier, valid until December 31, 2025, officials said.

Under the revised guidelines, the allowable usance period will be up to 270 days or the importer’s cash conversion cycle, whichever is earlier, according to a notification issued by the Bangladesh Bank (BB) on Monday.  

Before approving usance facilities, authorised dealer (AD) banks must ensure that the estimated cash conversion cycle reflects a realistic position, based on the customer’s historical operating performance and transaction patterns.

For back-to-back letters of credit, the usance period will be determined in line with the statutory export proceeds repatriation period.

However, the extended usance facility will not apply to imports financed under the Export Development Fund (EDF), the notification added.

BBN/SSR/AD

At a discussion in the capital on Monday, leaders from the garment, textile, and allied sectors urged urgent steps to stabilise law and order and restore buyer confidence. They stressed that sustained political stability and a predictable business environment are essential as the industry navigates mounting challenges.

The view-exchange meeting, titled “Business Crisis and Negative Trend of Exports: Way Outs,” was held at Uttara Club and chaired by former BGMEA president Kazi Moniruzzaman.

Speakers pointed to several pressing issues, including Bangladesh’s upcoming LDC graduation, proposed amendments to labour law—particularly the provision allowing trade union registration by only 20 workers—widespread factory closures, and rising unemployment.

BGMEA president Mahmud Hasan Khan said the country is not yet prepared for LDC graduation set for November next year. He stressed the need for a stable and supportive policy regime, as well as improvements in law and order, to safeguard export competitiveness.

Former BGMEA president Faruque Hassan warned that buyers are increasingly uneasy about political instability, leading many to cancel factory visits. He noted that garment exports have posted negative growth for the past three months and may continue declining. “The national election must take place on time, and buyers’ confidence must be sustained,” he said.

Echoing this concern, Bangladesh Garment Buying House Association President Mohammad Pabel said buyers no longer feel secure travelling or visiting factories, raising the risk of orders shifting to competing countries.

Shovon Islam, managing director of Sparrow Group, said buyers have expressed security concerns since November 12. The mid-November to December period is critical for finalising summer-season orders and sourcing for the next spring season.

Four of his major buyers from the US, UK, and EU have already cancelled factory visits and shifted meetings to hotels instead, he added.

Speakers called for consistent policy support, greater efficiency at Chattogram port, and reductions in increased port charges. They also recommended ensuring business representation in the upcoming national election.

Among those addressing the event were Bangladesh Textile Mills Association President Showkat Aziz Russel and Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association President Mohammad Shahriar.

BBN/SSR/AD

Following the initiative of the Japanese-Bangladeshi ethical fashion and sustainability venture, Revival Group Co. Ltd. and Revival Projects Ltd. have confirmed that they will lease and restart the Beximco Textile Division.

The draft tripartite agreement among Revival Projects Ltd., Beximco, and Janata Bank was submitted on October 8, 2025.

The three parties have already finalized the draft, and the signing will take place once Janata Bank’s board clears the agreement. The board is scheduled to approve the draft on November 18, according to a senior Beximco Group official.

“We’re planning to sign a tripartite contract next week with the Japanese company Revival and Janata Bank,” the official said.

Senior leadership teams from Revival and its US-based financing partner Ecomilli are expected to arrive in Dhaka in the third week of November to attend the signing ceremony.

Supported by Ecomilli—founded by leading Non-Resident Bangladeshi (NRB) professionals—the initiative marks one of the most significant employment restoration efforts in the country’s recent history.

In the first phase, Revival and Ecomilli will deploy US$20 million in back-to-back LC support, with plans to expand to $100 million depending on factory performance and global demand. By 2027, Revival projects annual profits of BDT 5,000 million, enabling repayment of outstanding loans and ensuring long-term financial stability for one of the country’s largest textile brands.

The reopening aims to reverse the severe fallout that followed the closure of Beximco Textile, once a national engine of growth and resilience. The shutdown, triggered by loan defaults after more than three decades of operation, displaced thousands of workers, crippled surrounding small businesses, and created deep economic uncertainty for entire communities.

Revival’s move to take over the unit under a long-term lease brings renewed hope to families who lost not only employment but also the foundation of their livelihoods.

The Japanese-Bangladeshi identity of the company will be pivotal in the turnaround, with Japanese management systems and operational discipline being introduced through experienced C-suite leaders from Japan. Additionally, a global Big Four accounting firm will be appointed to ensure transparency and world-class governance, focused on efficiency, accountability, and worker welfare.

Beyond reopening the factory, the lease agreement reflects Revival’s broader vision for Bangladesh's textile and fashion industry. The company aims to reconnect Beximco Textile with its global buyers while forging new international partnerships. Its long-term ambition is to position Bangladesh not only as a reliable manufacturing hub but also as a center for innovation and brand creation.

The company’s philosophy—‘Design locally, sell globally’—highlights its commitment to elevating Bangladeshi fashion from mass-market garments to premium, design-driven global products, proudly carrying the label ‘Made in Bangladesh.’

BBN/SSR/AD

The Bangladesh Bank (BB) on Tuesday issued a notification revising the OBU guidelines, originally released on January 30, 2025, to provide greater flexibility in extending trade finance facilities through Authorized Dealer (AD) banks.

Under the revised provisions, OBUs can now extend trade loans not only through ADs of their own bank but also via ADs of other banks, subject to comprehensive risk assessment—including counterparty exposure and limit evaluation.

“Actually, it’s a major step toward enhanced interbank collaboration in offshore financing operations,” a BB senior official said, adding that the latest amendment significantly widens this scope. He also noted that such financing must comply with existing prudential credit norms and due diligence requirements.

Earlier, OBUs were allowed to provide trade finance to enterprises located in both specialized and non-specialized zones through their own bank’s AD branches, in the form of buyer’s credit, accepted bill financing, and similar instruments.

For enterprises in specialized zones, OBUs are now permitted to finance entities other than fully foreign-owned ones through both their own ADs and those of other banks, using admissible trade finance instruments for the permissible tenure.

Similarly, for enterprises in non-specialized zones, OBUs can extend buyer’s credit, accepted bill financing, and other permissible trade instruments through both their own and other banks’ AD branches, subject to proper risk assessment procedures.

“By allowing OBUs to collaborate with ADs across different banks, the policy aims to ensure more efficient utilization of offshore liquidity, reduce transaction bottlenecks, and foster a more competitive financial landscape,” another central banker noted.

Industry insiders welcomed the BB’s latest move, saying the expanded framework will allow local exporters and importers to access a broader range of foreign currency financing options—particularly at a time when global trade and liquidity conditions remain volatile.

BBN/SSR/AD

The Manila-based lender plans to introduce the bond within the domestic market first and, upon its success, extend the initiative to overseas investors, they explained.

ADB recently submitted its bond issuance proposal to the Economic Relations Division (ERD) under the Ministry of Finance for approval. Following this, the government sought opinions from various stakeholders on the matter.

“We’ve already sought opinions from relevant ministries and agencies in this connection,” an ERD senior official said, adding that if they find it viable for the country, only then will be approved it.

However, the proposal has been circulated among the Finance Division, Bangladesh Securities and Exchange Commission (BSEC), National Board of Revenue (NBR), Bangladesh Bank, and the Financial Institutions Division for their feedback.

ADB aims to issue taka-denominated bonds in the local market initially and, based on the outcome, scale it up domestically and internationally.

Given Bangladesh’s growing financing needs for infrastructure and expanding private sector, the initiative would help mobilize funds to support both public and private sector development, an ADB official explained.

On the other hand, another ERD official recalled that Bangladesh had earlier approved a similar initiative by the International Finance Corporation (IFC), which issued taka-denominated bonds in the London market. “That experience was not very successful, so we are being cautious this time,” he noted.

In November 2019, IFC launched its first Bangladeshi taka-denominated “Bangla Bond” worth BDT 800 million (around US$9.50 million at the time) on the London Stock Exchange. The proceeds financed the PRAN Group for business expansion and job creation.

Later, in July 2022, IFC invested up to US$50 million (around BDT 4.70 billion) in Bangladesh’s first domestic housing bond, issued by BRAC Bank, to support affordable housing for low- and middle-income groups and strengthen the local long-term bond market.

The ERD officials also said ADB’s new proposal mirrors IFC’s approach, aiming to boost local currency financing in Bangladesh and support industrial and business growth.

This initiative seeks to raise funds domestically and reduce the private sector’s reliance on traditional bank loans, they added.

BBN/SSR/AD

The figure was up from $7.85 billion recorded in the same period of the previous fiscal, according to the Export Promotion Bureau (EPB) data released on Tuesday.

In August alone, however, export receipts fell 2.93% year-on-year to $3.92 billion, down from $4.03 billion in August 2024, highlighting pressure on the sector.

The readymade garment (RMG) industry—Bangladesh’s largest export earner—brought in $3.16 billion in August, registering a 4.75% decline compared to the same month last year. Within the RMG category, knitwear exports slipped 6.34% to $1.77 billion, while woven garments dropped 2.65% to $1.39 billion.

EPB noted that while the overall growth in the July–August period reflects resilience, the August slowdown underscores challenges tied to global demand shifts and evolving market dynamics.

BBN/SSR/AD

 “Enhancing energy security and air quality are critical economic and development priorities for Bangladesh,” said Gayle Martin, World Bank Interim Country Director for Bangladesh said in a statement.

“By addressing the root causes of gas supply constraints and urban air pollution, these two projects will help Bangladesh boost economic growth, improve productivity, and create jobs.”

The Energy Sector Security Enhancement Project ($350 million) will help improve gas supply security by facilitating access to cost-effective financing for Petrobangla, the state-owned oil and gas company.

The project will utilize an IDA (International Development Association) guarantee to mobilize up to $2.1 billion in private capital over seven years for new Liquefied Natural Gas (LNG) imports. The backing of an IDA guarantee will improve Petrobangla’s creditworthiness to secure LNG supplies.

Imported LNG accounts for over one-fourth of total gas consumption in Bangladesh. About 42 per cent of total gas consumption is in the power sector.

Hence, gas supply shortages disrupt electricity generation, negatively impacting the economy. This project will provide payment security and working capital solutions to facilitate LNG imports under long-term contract and thereby reduce dependency on expensive spot market gas imports.

 “The project will help Bangladesh enhance gas supply security in a cost-efficient manner, contributing to reliable and affordable electricity for industries and domestic users,” Olayinka Bisiriyu Edebiri, World Bank Senior Energy Specialist and Task Team Leader for the program, said.

 “By ensuring reliable gas supply, the project will help boost economic growth and resilience.”

The Bangladesh Clean Air Project ($290 million) will take a comprehensive approach to tackle air pollution.

In Bangladesh, air pollution caused over 159,000 premature deaths and 2.5 billion days of illness, with estimated health costs equivalent to 8.3 percent of the gross domestic product (GDP) in 2019.

Dhaka remains one of the most polluted cities in the world with annual levels of fine particulate matter (PM2.5) exceeding by 18 times the WHO Air Quality Guidelines.

The project will help focus on air quality management by strengthening Department of Environment’s air quality monitoring network with new and improved stations.

It will help operationalize the Continuous Emissions Monitoring Program for real-time monitoring of major industrial sources of air pollution.

Based on an integrated network of automated monitoring systems, the monitoring program will allow enforcement of emissions limits, and disclosure of preliminary data collected at major sources.

The project aims to improve vehicle emissions control and introduce a fleet of 400 zero-emission electric bus services by replacing aging, polluting diesel buses.

These buses will operate under a unified “single operator per franchise” model for better service quality. The project will establish depots for charging, parking, and maintaining the electric buses.

It will construct five new Vehicle Inspection Centers, upgrade two non-functioning ones, and deploy mobile Vehicle Inspection Centers and 20 mobile vehicle emissions testing units. Combined, these interventions in the transport sector are expected to reduce primary PM2.5 emissions by approximately 2,734 metric tons per year.

 “This will be the first in a new series of projects to improve the country’s air quality,” Ana Luisa Gomes Lima, World Bank Lead Environment Specialist and Task Team Leader for the project said.

“As air travels across borders, no single country can contain air pollution on its own. The project will facilitate regional dialogue and data sharing for reducing air pollution.”

The World Bank was among the first development partners to support Bangladesh following its independence. Since then, the World Bank has committed over $45 billion in grants, zero- and low-interest credits to Bangladesh. In recent years, Bangladesh has been among the largest recipients of the World Bank’s concessional financing from IDA.

BBN/SSR/AD

This financing will help address the company’s critical working capital needs, offering essential liquidity support amid limited US dollar financing availability, IFC said in a press statement on Thursday.

Bangladesh's pharmaceutical industry is rapidly growing, meeting 98 per cent of local demand and expanding its global footprint.

However, reliance on imported Active Pharmaceutical Ingredients (API) can present challenges. IFC’s investment will help Renata secure these materials, enhancing the industry’s ability to provide uninterrupted access to critical medicines.

Syed S Kaiser Kabir, CEO & Managing Director of Renata said, “In the context of USD liquidity constraints, the ongoing risk of further devaluation of BDT vs USD and the ever-increasing cost of financing in Bangladesh, the IFC commitment to Renata will bring significant stability to our supply chain and support cost-effective manufacturing.” 

The sector is a key driver of Bangladesh’s economy, with growing contributions through exports and skilled employment.

Imad N. Fakhoury, IFC Regional Director for South Asia said, "IFC’s partnership with Renata will drive crucial growth and create jobs in Bangladesh’s pharmaceutical industry. By supporting Renata's operations, we aim to help them maintain a robust supply chain and develop and register new products in international markets to ensure the availability of essential medicines. The partnership will bolster the competitiveness of Bangladesh’s pharmaceutical sector and solidify the country's standing in the international generics industry.”

IFC is committed to supporting private sector growth in Bangladesh, particularly in sectors critical to health, employment, and exports. This partnership with Renata reflects IFC’s strategic goal of driving sustainable growth and expanding Bangladesh’s impact in global markets.

BBN/SSR/AD