HSBC Bangladesh is set to honor leading exporters for their contribution to the country’s sustainable economic growth at the sixth HSBC Export Excellence Awards in November.
Exports are a major driver of economic growth in the country, accounting for 20 percent of the gross domestic product. Bangladesh surpassed $31.2 billion in exports in the last fiscal year.
The excellence awards are given out in four categories: garments and textiles, enterprises in export processing zones, traditional and emerging sectors and small and medium enterprises.
According to The Daily Star, garment exporters with an annual export turnover of $50 million or higher are in Group A, while those below $50 million are in Group B. Companies in the export processing zones will be awarded in a separate category. Non-garment or textile companies with an annual export turnover of $5 million or more will be awarded under the traditional and emerging sectors category.
The small and medium enterprises category will award non-ready-made garment or textile companies that have an annual export turnover below $5 million.
This year, a jury will have the option to choose more than one winner from the categories to accept the Special Achievement Award, in an effort to encourage exporters.
The awards were announced at a press conference at the Sonargaon Hotel in the country’s capital, Dhaka, by the Chief Executive of HSBC Bangladesh, Francois de Maricourt, reported the Daily Star.
“We are pleased to provide a platform for Bangladeshi exporters to showcase their capabilities. Our efforts in promoting excellence in this field will continue,” Maricourt added.
The Country Head of Commercial Banking at HSBC Bangladesh, Bhuvnesh Khanna, said the excellence of entrepreneurs in Bangladesh is often best displayed by exporters.
They make Bangladesh more international, Khanna said, adding that the award ceremony is a way of recognizing contribution and showcasing their excellence.
The interested exporters must fill out a form and submit it to the Bangladesh Brand Forum by September 17. Applicants are not required to be a client of HSBC to be eligible for the awards.
Past award winners include, DBL Group, Epyllion Textiles, Pacific Jeans Group and Picard Bangladesh.
HSBC is the only international bank in Bangladesh with presence in all eight export processing zones, accelerating exports and has helped local exporters ship products to 120 countries in 2013 and 2014.
**This story first appeared on Sourcing Journal Online here.