Regent Airways is set to buy two aircraft for nearly $15 million in a bid to open flights by August. The upcoming carrier said it signed a letter of intent with German operator Augsburg Airways to obtain two 50-seater Dash-8-Q300 aircraft, manufactured in 1999 and 2000 respectively in Canada by Bombardier Aerospace, according to the airline. ??We are likely to begin commercial flights in the first week of August, said Mashruf Habib, managing director of Regent Airways of HG Aviation Ltd.

?The company is a concern of Chittagong-based conglomerate Habib Group that is into apparels, power, steel, paper and fertiliser. The Group records turnover worth over Tk 2,000 crore a year. Regent, which already received permission to set up infrastructure for the airline, also said it aims to induct two Boeing 757-200 aircraft on dry lease for four years. ??The aircraft will be gradually deployed to operate on Regent’s domestic and mid-haul routes,?? said Imran Asif, chief executive of Regent Airways. Regent is the fourth entrant to the aviation market. But two of them — Best Air and Aviana Airways — are now grounded, mainly because of the financial crunch. Habib said his carrier would be able to stay on in the air travel business because of its parent organisation’s. financial strength

ABOUT HABIB GROUP:

Founder : Late Habib Ullah Meah
.?
Business Sectors : ? Apparel
? Cement
? Fertilizer
? Paper
? Power
? Shares and Securities
? Ship Breaking
? Spinning
? Steels
? Textile
?
.?
Man Power : 15,000+
.?
Yearly Turnover : $305 Million (USD)
.?
Asset Value: $180 Million (USD)?
.?
Affiliates : ? ANZ properties
? Continental Insurance
? East Delta University
? International Finance Investment and Commerce Bank Limited (IFIC Bank)
? National Credit and Commerce Bank (NCC Bank)
? Southern Medical College and Hospital?

Habib Group epitomizes prospect and prosperity. HG was founded in the year 1947 as a trading company by late Habib Ullah Meah. He was the son of late Naju Meah, a prominent businessperson of undivided India. Naju Meah was the first President of Assam Bengal Chamber of Commerce. After the demise of Habib Ullah Meah in 1981, his three sons Yakub Ali, Mahabub Ali and Yasin Ali took over the HG. Over the years, the Group has invested in various business sectors of Bangladesh. Employing more than 15000 people and having investments in various businesses the HG has established itself as one of the largest and prominent business houses of Bangladesh. HG is still expanding its wings and diversifying its business interests in Bangladesh. Our commitment and financial strength has given us the reputation of being one of the finest torch bearers of the business houses of Bangladesh.

Our goal is to exceed the expectations of every client by offering outstanding product, increased flexibility, and greater value, thus optimizing system functionality and improving operation efficiency. Our employees are distinguished by their functional and technical expertise combined with their hands-on experience. In HG, at any stage, quality has never been compromised and customer satisfaction has always been our top priority.

In Short Habib Group Means:
Optimum quality, Responsibility to society, Consistency, Speed with flexibility and Competitive price.

These really are the mantras of HG and shall be pursued tirelessly.

?

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During the meeting, Zillur Rahman said the Bulgarian businessman could import world standard Bangladeshi products like readymade garments, leather and jute goods, ceramic and pharmaceuticals considering their very competitive prices.

He also said the Bulgarian entrepreneurs might come forward for individual or joint investments in the fields of RMG, textile, energy, petroleum, leather ceramic, pharmaceuticals and agro- processing in Bangladesh.

The President mentioned that Bangladesh and Bulgaria have enormous possibilities for expanding their ties in trade, commerce and cultural sectors but the volume of trade between the two countries does not reflect the true potential.

Saying that Bulgaria was one of the countries who recognized Bangladesh immediately after its independence, Zillur Rahman said Bangladeshis are grateful to Bulgaria in this regard.

Zillur Rahman also congratulated Bulgarian leadership for their efforts in ascending to the European Union as a full-fledged member sate.

The new envoy appreciated the achievement of Bangladesh for maintaining a ‘high’ 5-6% percent of GDP growth rate over the years amid ongoing global economic crisis.

He also appreciated Bangladesh for playing the leading role in raising its voice against the adverse effects of climate change worldwide.

Kostov emphasised increasing high level political, business and cultural visits between the two countries for further increasing the bilateral relations between Bangladesh and Bulgaria.

The evoy sought President’s cooperation in discharging his new responsibilities and assured the president that he would do this to his level best to bring the trade and commerce relations between the two countries to new heights.

Secretary to the President’s office M Safiul Alam, Press Secretary AKM Nesar Uddin Bhuiyan and Additional Secretary to the Foreign Affairs Ministry Mostafa Kamal were present during the meeting.

Earlier, the Ambassador was given a guard of honor by a contingent of the President’s Guard Regiment.

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Into importations of textiles that the European Anti-Fraud Office (OLAF) has recently concluded. The products, in particular jeans and t-shirts, originated in the far-east, mainly China, but were introduced into the EU with forged documents showing Bangladesh as their country of origin.

During the investigations, thousands of documents, such as certificates of origin, bills of lading, customs export documents, delivery receipts and invoices presented to customs in EU Member States and to the competent Bangladesh authorities, the Export Promotion Bureau (EPB), were found to be forged by third parties. The fraudsters aimed to evade EU import duties on textile consignments originating in the far-east, mainly in the PR of China. Forged or unduly obtained certificates of origin (Form A) falsely showing Bangladesh as the country of origin gave the importers of the textiles, in particular t-shirts and jeans, unrestricted and duty-free access to the European markets.

Co-ordinated investigations of the EU Member States? authorities, together with OLAF and the Bangladesh Export Promotion Bureau, uncovered the scheme that was run at the expense of the EU taxpayer. Following the results of three verification missions of administrative cooperation to Bangladesh in 2007, 2008 and 2009, OLAF together with the EU Member States concerned have established a customs debt of around 50 million Euros. For this amount, recovery orders to the importers will be issued by the customs administrations in almost all EU Member States.

Investigations in several Member States and follow-up activities such as court proceedings are still ongoing.

Within the framework of these investigations, the Commission also published a notice to importers on 15 February 2008 informing the public and economic operators concerned of the serious doubts which existed in relation to importations of textiles allegedly originating in Bangladesh. By this means, OLAF and the Commission were able to raise the awareness of economic operators and to prevent further loss to the EU taxpayer.

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Textile production

Bangladesh garment manufacturers said Sunday they have targetted Japan as their next big market to offset a drop in orders from the United States and Europe caused by the global financial crisis.

?Bangladesh plans to raise the value of its textile exports to Japan to $1 billion over the next two years, a senior business leader said on Thursday.

“Now we are fully prepared to attract more and more buyers from Japan which will help to grow our market many folds day by day,” said Mohammad Fazlul Hoque, president of Bangladesh Knitwear Manufacturer and Exporter Association (BKMEA).

“A massive black cloud has gathered over our heads,” said Fazlul Hoque, president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

?”Orders in September have fallen by 10 percent, and the indications are there that the industry will experience a sharp decline like the one we experienced immediately after 9/11 in 2001,” he said.

Bangladesh exports only $50 million worth of ready-made garments to Japan which annually consumes $23 billion worth of ready-made garments, mostly importing from China, Fazlul said.

“Recently we, along with other textile entrepreneurs, visited Japan and did several interactions with most of the leading textile importers who committed to increase trade volume with us,” Fazlul told reporters.

He said that BKMEA would organize a 3-day international exhibition from Monday to present the products to the potential importers and about 150 buyers across the world will participate.

Most of the leading textile importers from Japan and also buyers from the United States, China, India, Hong Kong, South Africa, Australia, Italy, Netherlands, Russia, Belgium will participate in this showcase, he said.

“Japan is the world’s fourth largest garment importer. Yet last year we exported 6.4 million dollars’ worth of apparel there, against Japan’s total import of around 9.3 billion dollars,” he said.

“We have to enter the Japanese market at any cost to survive the coming storm. We have identified that in four out of ten top Japanese apparel items, we have huge price advantages,” he added.

The group, whose members generate nearly 55 percent of the country’s entire clothing exports, has invited ten top Japanese buyers this year to inspect Bangladeshi factories.

Readymade garments, which account for 80 percent of total exports, earned more than $11 billion in the last fiscal year.

Bangladesh has set 13 percent higher export target of $17.6 billion for the current fiscal year to end June 2010.

Bangladesh’s overall exports grew 10.3 percent to $15.56 billion in the 2008/09 fiscal year, down 4.76 percent from the previous year and the lowest growth in six years, following the global slowdown.

Earnings from knit textiles from July to June of the previous fiscal year (2008/09) rose 16.2 percent to $6.4 billion while exports of woven garments rose 14.5 percent to $5.9 billion in the same year.

The garment trade is the backbone of Bangladesh’s manufacturing industry, accounting for 80 percent of total exports and 40 percent of industrial jobs.

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The news from Reuters as follows is also a sign to support this analysis.

From Reuters:Bangladesh’s exports surged 11.86 percent to $1.378 billion year-on-year in January on the back of increased sales of clothing and other textiles, data showed on Thursday, after sales dropped 10 percent in December.

Data from the Export Promotion Bureau showed export earnings in the first seven months of the 2008/09 fiscal year rose 18.16 percent to $9.13 billion.

?

Earnings from knit textiles during the period rose 26 percent to $3.8 billion from the previous year, while exports of woven garments rose 20.6 percent to $3.39 billion.

?

Despite growth in clothes exports, foreign sales of frozen food, leather, jute goods, electronics and other items declined as a deepening global slump slashes away at demand for that items.

?

The government plans to launch a stimulus package for exporters to protect growth and jobs by this month as the financial crisis continued to deepen, said Finance Minister Abul Maal A Muhith.

?

Some analysts said Bangladesh did not face any immediate upset in its prime readymade garment exports yet because the country sells mostly basic and low-cost products.

?

Bangladesh has set a $16.3 billion export target for the year to June 2009. Exports in the previous year to June 2008 hit $14.11 billion, of which almost $10.7 billion was from garments. ($1 = 69 taka)

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BTMA,Chairman Mr MA Awal urged the goverment to take some interim steps to boost the textile sector through capacity building to compete with India and Pakistan. To make the textile sector more vibrant, the association, demanded loan facilities for the entrepreneurs, based on bank-client relationship and fixation of bank interest to a maximum of seven percent.
Riding on the resounding success of DHAKA TEXTILE & GARMENT 2009, Bangladesh Textile Mills Association (BTMA) and ES EVENT MANAGEMENT SDN BHD. announce the holding of The 7th DHAKA TEXTILE & GARMENT 2010 (DTG 2010) with the ultimate aim to offer an ideal platform to demonstrate new products and exploit business opportunities.

The event is designed to be the trendsetter for the industry player to showcase new technology, state-of-the-art equipments, materials and services, as well as an excellent avenue for international suppliers and visitors to expand business to the lucrative market and accelerate Bangladeshi technological advances that will impart effective quality, high speed and competitive cost to gain that all important edge in textile & garments industry.

Venue: Bangladesh-China Friedship Conference Center, Dhaka Date: Feb. 2- 5, 2010
Time: 12:00 – 20:00 Daily

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