Mercantile Bank becomes main sponsor of '5th Knit Expo,09'
Thursday, 3 September 2009
FE Report
Mercantile Bank Limited (MBL) has become the main sponsor of '5th Knit Expo,09' to be arranged by Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) in early November this year.
The announcement came Wednesday at a cheque handover ceremony at MBL Head Office in the city.
The leading private commercial bank will provide Tk 3.0 million to the BKMEA.
At the ceremony, MBL chairman Md. Abdul Jalil MP handed over the cheque to BKMEA president Fazlul Hoque.
On the occasion, Abdul Jalil MP said they hoped the country's knitwear industry would be able to attract more foreign importers through the upcoming three-day exposition.
"We hope the knitwear sector will be able to contribute to the economic development of the country by boosting up their exports income," Abdul Jalil MP said.
"The sector has the potential to spur the much-needed economic growth in the country. So we have come forward to help them grow further. This type of cooperation will continue in future," he added.
BKMEA president Fazlul Hoque thanked the MBL management for supporting the upcoming event.
He said Bangladesh is the third largest knitwear exporting nation in the world after China and Turkey and the country's knitwear makers have targeted to outnumber them and top the list.
"This type of contribution will certainly help our efforts to become the top knitwear exporting nation in the world," Fazlul Hoque said.
Mr. Hoque said the exposition would create a solid platform for the country's growing knitwear sector to present itself in the international market.
"We are working on market development. We hope the exposition will help us maintain our growth," he said.
The exposition is organised to showcase the country's quality knitwear products with a view to attracting overseas buyers, he said adding that they hoped a record number of local and foreign buyers would throng the event venue this year.
In fiscal year 2008-09, the knitwear sector fetched US$6.4 billion, a 16.21 per cent rate of growth over the pervious year's earnings of $5.5 billion. But the sector's earnings dropped 2.35 per cent short of the $6.6 billion export target.
He said that proper infrastructure should be in place to maintain the growth of the sector.
"Investors are also willing to invest here. But before everything, they want guarantee that power supply to their plants will be ensured."
The BKMEA president requested the ruling party lawmaker to convey their concern over the energy crisis particularly gas and electricity problems to the government as foreign investors want to make sure they get assurance of uninterrupted energy supply before investment.
Mercantile Bank managing director and chief executive officer Dewan Mujibur Rahman, additional managing director AKM Shahidul Huq, first vice chairman MS Ahsan, vice chairman Golam Faruq Ahmed, BKMEA first vice president Abdur Rashed and directors sheikh Monwar Hossain and Shafiquzzaman were, among others, present on the occasion.
Mercantile Bank Limited (MBL) has become the main sponsor of '5th Knit Expo,09' to be arranged by Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) in early November this year.
The announcement came Wednesday at a cheque handover ceremony at MBL Head Office in the city.
The leading private commercial bank will provide Tk 3.0 million to the BKMEA.
At the ceremony, MBL chairman Md. Abdul Jalil MP handed over the cheque to BKMEA president Fazlul Hoque.
On the occasion, Abdul Jalil MP said they hoped the country's knitwear industry would be able to attract more foreign importers through the upcoming three-day exposition.
"We hope the knitwear sector will be able to contribute to the economic development of the country by boosting up their exports income," Abdul Jalil MP said.
"The sector has the potential to spur the much-needed economic growth in the country. So we have come forward to help them grow further. This type of cooperation will continue in future," he added.
BKMEA president Fazlul Hoque thanked the MBL management for supporting the upcoming event.
He said Bangladesh is the third largest knitwear exporting nation in the world after China and Turkey and the country's knitwear makers have targeted to outnumber them and top the list.
"This type of contribution will certainly help our efforts to become the top knitwear exporting nation in the world," Fazlul Hoque said.
Mr. Hoque said the exposition would create a solid platform for the country's growing knitwear sector to present itself in the international market.
"We are working on market development. We hope the exposition will help us maintain our growth," he said.
The exposition is organised to showcase the country's quality knitwear products with a view to attracting overseas buyers, he said adding that they hoped a record number of local and foreign buyers would throng the event venue this year.
In fiscal year 2008-09, the knitwear sector fetched US$6.4 billion, a 16.21 per cent rate of growth over the pervious year's earnings of $5.5 billion. But the sector's earnings dropped 2.35 per cent short of the $6.6 billion export target.
He said that proper infrastructure should be in place to maintain the growth of the sector.
"Investors are also willing to invest here. But before everything, they want guarantee that power supply to their plants will be ensured."
The BKMEA president requested the ruling party lawmaker to convey their concern over the energy crisis particularly gas and electricity problems to the government as foreign investors want to make sure they get assurance of uninterrupted energy supply before investment.
Mercantile Bank managing director and chief executive officer Dewan Mujibur Rahman, additional managing director AKM Shahidul Huq, first vice chairman MS Ahsan, vice chairman Golam Faruq Ahmed, BKMEA first vice president Abdur Rashed and directors sheikh Monwar Hossain and Shafiquzzaman were, among others, present on the occasion.