After the European Union (EU) added Vietnam to the list of non-cooperative jurisdictions for tax purposes following an Organisation for Economic Cooperation and Development (OECD) peer review on the exchange of information on tax rulings for the 2021-2023 period, Vietnam defended its tax transparency record.

Vietnamese Ministry of Foreign Affairs spokesperson Pham Thu Hang said that throughout the OECD’s peer review process, Vietnam actively incorporated feedback and recently updated many legal documents on taxation, finance and corporate governance, including the Law on Tax Administration, the Law on Enterprises, and Decree No. 168/2025/ND-CP on corporate management.

After the EU added Vietnam to the list of non-cooperative jurisdictions for tax purposes following an OECD peer review on the exchange of information on tax rulings for the 2021-2023 period, Vietnam defended its tax transparency record.
Throughout the peer review process, Vietnam incorporated feedback and has updated many legal documents on taxation, finance and corporate governance, it said.

These have helped improve the compliance with international standards for transparency and information exchange, she was cited as saying by domestic media reports.

Vietnam is now formulating and implementing a national action plan to address recommendations from the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes. It is concurrently strengthening tax cooperation with international partners, including the EU, Hang added.

Fibre2Fashion News Desk (DS)

Bangladesh Bank yesterday extended the deadline for raw jute exporters to apply for loan rescheduling to back businesses facing liquidity issues and help regularise defaulted loans.

Exporters can submit their applications until June 30, according to a circular by the Banking Regulation and Policy Department (BRPD) of the central bank. The circular is effective immediately.

Bangladesh Bank yesterday extended the deadline for raw jute exporters to apply for loan rescheduling to back businesses facing liquidity issues and help regularise defaulted loans.
Exporters can submit their applications until June 30.
The extension aims at safeguarding the interests of exporters and ensure the continued dynamism of the country’s export trade, the central bank said.

Earlier, exporters were required to apply by December 31, 2025, by making a down payment or a one-time deposit of 2 per cent of their existing loan as of December 31, 2024.

Several were unable to meet the deadline due to complications in both global and domestic export markets.

Under the revised directive, customers can apply to the concerned bank by depositing 2 per cent of their defaulted (classified) loan balance, according to domestic media reports.

The extension aims at safeguarding the interests of exporters and ensure the continued dynamism of the country’s export trade, the central bank added.

Fibre2Fashion News Desk (DS)

ICE cotton futures closed lower yesterday amid heavy rollover pressure and persistent tariff uncertainty. Broader agricultural markets also traded in the red due to tariff-related worries, which further weighed on the US cotton market.

The most actively traded May cotton contract dipped 0.49 cent to settle at 65.14 cents per pound, although it had hit its highest level since January 29 on Friday. Front-month contracts traded in the upper half of Friday’s range, retaining nearly two-thirds of the prior session’s gains despite the losses. The May 2026 contract had earlier posted strong gains of 149 points on Friday. The rest of the board ranged from 36 points lower to 2 points higher, excluding the near-month March contract. March 2026 (first notice day) settled 53 points higher at 6,356 points as deliveries began.

ICE cotton futures closed lower amid heavy rollover pressure and persistent tariff uncertainty, despite holding much of the previous session’s gains.
The May contract settled at 65.14 cents per pound, while trading volumes declined.
Broader agricultural markets weakened on US tariff concerns after US President Donald Trump raised global import tariffs to 15 per cent.

Total trading volume declined to 58,019 contracts, compared with 110,161 contracts on Friday. The average daily volume last week stood at 85,504 contracts, indicating continued active participation.

Market analysts said cotton is attempting to find a bottom amid rollover pressure and tariff uncertainty. US President Trump announced an increase in global import tariffs from 10 per cent to 15 per cent, heightening macro and trade risk sentiment.

Broader agricultural markets weakened, with soybeans under pressure as US tariff policy uncertainty hurt the export outlook. Cotton prices are near unprofitable farming levels but may still test the 63 cent per pound support level.

CFTC data for the week ended February 17 showed that speculators increased net short positions by 3,652 contracts to 75,430 contracts. ICE certified stocks remained unchanged at 119,457 bales as of February 20.

Brazil exported 218,691.66 tons of cotton in the first three weeks of February, averaging 16,822.44 tons per day, up 23 per cent year on year.

This morning (Indian Standard Time), ICE cotton for May 2026 traded at 65.78 cents per pound (up 0.64 cent), cash cotton at 63.14 cents (down 0.49 cent), the March 2026 contract at 63.56 cents (up 0.53 cent), the July 2026 contract at 67.37 cents (up 0.55 cent), the October 2026 contract at 68.39 cents (down 0.22 cent), and the December 2026 contract at 69.45 cents (up 0.41 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.

Fibre2Fashion News Desk (KUL)