Bangladesh Bank recently issued a circular asking banks to introduce special loan facilities beyond the working capital loan limit to pay salaries of workers and employees for February in light of concerns in the export sector due to global and domestic economic pressures.

Due to falling exports, delayed purchase orders and liquidity crisis, production in many export-oriented units is getting affected. As a result, the ability to pay salaries and allowances to workers has reduced.

Bangladesh Bank recently issued a circular asking banks to introduce special loan facilities beyond the working capital loan limit to pay salaries of workers and employees for February in light of concerns in the export sector due to global and domestic economic pressures.
The loan amount cannot exceed the average salary and allowances component of the concerned enterprise in the last three months.

The loan amount cannot exceed the average salary and allowances component of the concerned enterprise in the last three months. The prevailing market-based interest rate will be applicable against the loan, while no additional interest, profit, fee or charge other than regular interest can be charged.

The loan must be repaid within a year with a grace period of three months, according to domestic media outlets. Industrial enterprises that export at least four-fifths of their total production will be considered export-oriented. The salary will go directly to the workers’ accounts, not through the company.

Fibre2Fashion News Desk (DS)

Reducing unnecessary complexities and doing away with selected non-tariff barriers (NTBs) could significantly boost US investment in Bangladesh and enhance the country’s appeal as a foreign investment destination, according to Commerce, Industry, and Textiles & Jute Minister Khandakar Abdul Muktadir.

Addressing these issues would also facilitate Bangladesh’s greater access to US development assistance and financing programmes, he said after meeting US Assistant Secretary of State for South and Central Asian Affairs S Paul Kapur in Dhaka.

Cutting unnecessary complexities and eliminating selected non-tariff barriers could significantly boost US investment in Bangladesh and enhance the country’s appeal as a foreign investment destination, according to Commerce, Industry, and Textiles & Jute Minister Khandakar Abdul Muktadir.
Addressing these would also facilitate greater access to US development assistance and financing programmes, he said.

The meeting focused on strengthening bilateral trade ties, expanding investment into new sectors, improving digital infrastructure and deepening overall trade and investment cooperation.

Certain procedural and policy-related bottlenecks continue to affect the investment climate, the minister observed.

Fibre2Fashion News Desk (DS)

Canada and the European Union (EU) have agreed to modernise the Comprehensive Economic and Trade Agreement (CETA) and launch negotiations on a digital trade agreement, a move aimed at strengthening economic ties and expanding cooperation in emerging sectors.

The announcement was made during a summit in Brussels, where leaders from both sides emphasised the need to deepen transatlantic trade amid global economic uncertainty and shifting geopolitical dynamics.

Canada and the EU have agreed to modernise the Comprehensive Economic and Trade Agreement (CETA) following a summit in Brussels.
It aims to reduce trade barriers, support SMEs while expanding co-operation in digital services and cross-border data flows.
Leaders including Ursula von der Leyen said it will strengthen economic resilience, diversify trade partnerships and secure supply chains.

The initiative seeks to update the 2017 free trade deal by reducing remaining non-tariff barriers, improving regulatory co-ordination and creating clearer investment dispute mechanisms, particularly to support small and medium-sized enterprises.

Canadian Prime Minister Mark Carney has set a target of doubling Canada’s non-US trade within the next decade, positioning Europe as a key partner in achieving that goal. According to Canada’s Trade Minister Maninder Sidhu, the effort aligns with the country’s broader strategy to diversify trade beyond its largest partner, the United States, which currently accounts for nearly 70 per cent of Canadian exports and leaves the country vulnerable to shifts in American trade policy.

The agreement also launches talks on a digital trade framework covering data flows, cybersecurity, artificial intelligence regulation and digital services.

Maros Sefcovic, the EU’s Commissioner for Trade and Economic Security, said the initiative reflects the growing importance of digital commerce, noting that more than 40 per cent of EU-Canada services trade is already delivered digitally.

European Commission President Ursula von der Leyen highlighted that the partnership would support sustainable development, innovation and secure supply chains, particularly in areas such as rare minerals, clean energy and advanced technologies.

The modernisation effort underscores both partners’ commitment to strengthening economic resilience, promoting sustainable trade practices and deepening cooperation in the digital era.

Fibre2Fashion News Desk (CG)