MESSAGE FROM THE MANAGING DIRECTOR

Picard Bangladesh has been in operation in Bangladesh for the last eleven years and within this time period we have achieved laudable success internationally. Initially we manufactured exclusively for Picard Lederwaren Gmbh Co. & KG, but over the past few years we have started exporting to Japan, Australia and Singapore.

By being located in Bangladesh, we are able to make effective use of the preferential treatment that our country enjoys in the EU. Bangladesh being a Least Developed Country (LDC) is able to have tariff-free access to the EU market. Our country also has the same terms of trade with Canada, Japan and Australia. Therefore, internationally our country has a competitive advantage of both lower production costs and free access to markets. The Government of Bangladesh as well as the business community is lobbying to get duty free entry into the US market for limited products, with leather goods being one of the main items that would be exported duty free to USA in near future .

The cattle and goats used for making raw hide in our country have a very unique grain and texture as they are reared naturally. The sizes of these organically reared cattle are smaller than those reared through large scale commercial rearing and as a result their hides have lesser vein and growth marks. This also acts as a competitive advantage for our country as the finished leather goods produced from this distinctive superior quality raw hide has a potential for the high end fashion market.

The leather goods sector is a vibrant and growing sector in the Bangladesh economy and there are also various government regulations in place to aid the further development of this sector. We at Picard Bangladesh aim to fulfill our commitments to our customers not only by providing high quality manufactured leather products at competitive prices, but by also trying to work with every possible specification that our customers might require.

Picard Bangladesh over the years has developed a skilled work force and our organization has grown by almost 40% in 2007. We work together as a family to manufacture products that we are proud of and which are sold to international markets. Our organization has stringent requirements regarding Occupational Health and Safety Policies and we adhere strictly to minimum wage regulations and child labor policies. We believe in taking care of our artisan and there are child care facilities within our factory premises, as majority of our work force are females. We also try our best to minimally impact the environment that we are working in and our factory is located out of the main capital city which enables us to provide a better working atmosphere for our people.

For sailing up to a certain destination within stipulated time, a sailor needs efficient propulsion system and professionals, wind and current in favor of sailing direction. Picard Bangladesh has an efficient team of professionals plus modern equipments in addition to market access and competitive work force. Arriving upto the final destination on time is our day to day journey.

I would like to welcome you to take the time to look into the efforts of our organization and invite you to provide us with your comments. You can send an email to <info@picardbangladesh.com>

Sincerely,

Md. Saiful Islam, Managing Director, Picard Bangladesh Limited