Bangladesh's Exports To Japan Will Exceed $1 Billion.

Bangladesh commerce minister Tofail Ahmed said that because Asian countries relaxed the rules of origin (RoO), Bangladesh's exports to Japan will soon exceed $1 billion.

Bangladesh export promotion agency data show that, thanks to the GSP, Bangladesh exports to Japan at an annual rate of 14.9%, in fiscal year 2013-2014. Exit The amount reached $862 million 80 thousand. The export earnings of garments, leather and footwear accounted for most of the total export volume.

　　 Bengal In the 2013-2014 fiscal year, the total value of garments exported to Japan for us $572 million 270 thousand increased by 19.6% over the same period last year. The relaxation of rules of origin is the main reason for the rapid growth of exports. Exports in the 2008-2009 fiscal year were only $74 million 370 thousand.

　　 Japan The government implemented the China plus one strategy in 2008 to reduce dependence on China's imports. The great increase in exports to Bangladesh in the past 5 years is also due to this strategy. The Japanese apparel market has a market value of US $35 billion, while Chinese exporters account for 80% of the market share.

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The footwear distributors and Retailers Association (FDRA) announced on Monday that it will launch a tailored customs Resource Centre for the footwear industry. The center will help shoe manufacturers and customs officers to get a better understanding of the details of the footwear industry's customs classification.

FDRA chairman Matt prest said: "with the continuous innovation of shoe industry, the classification of footwear industry is becoming more and more complex. FDRA continues to promote trade tax relief for footwear industry, but before that, FDRA will continue to focus on helping brands understand and adapt to existing regulations. He added that the resource center is of great help to the industry. Customs officers do not need to search large amounts of information to directly call the center, but also save business costs and time.

The customs resource center covers the latest classification requirements issued by the US Customs and Border Protection Bureau, the classification and codes of country footwear, the definition of key categories, labels and trademarks, as well as relevant information, including leather used for shoe repair.

An American shoe company official said, understanding the import and export declaration of footwear industry is very important for every company. Incorrect classification may make you lose millions of dollars at a time. We are very happy about the establishment of resource center. In the future, only one place can find all relevant issues concerning import and export declaration of footwear industry.