Refayet Ullah Mirdha

However, apparel shipment to the EU rose 3.27% in Jul-Feb

Before the minimum wage was raised to Tk 12,500 in December, thousands of workers took to the streets to press home their demand for a minimum salary between Tk 23,000 and Tk 25,000.

Textile makers in Bangladesh are witnessing slow sales ahead of Eid-ul-Fitr due to factors including a drop in demand for women's salwar-kameez amidst a high living cost and a lack of interest among the affluent class to donate clothes as Zakat to avoid hassle.

Despite facing one of the highest tariff rates, Bangladesh is the third-largest apparel exporter to markets in the US because of its efforts to improve working conditions, end forced labour, stamp out counterfeits, and provide safe and high-quality products to American consumers, said the American Apparel and Footwear Association (AAFA) at a hearing recently.

Ensuring the timely payment of salaries and bonuses of the over four million garment workers is the first priority of SM Mannan (Kochi), whose panel swept elections to the executive committee of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

The United States International Trade Commission (USITC) is going to hold a hearing involving Bangladesh to see whether a recent rise in prices of garment items sourced from the country had anything to do with unhealthy competition.

Chinese textile and garment entrepreneurs are bullish about Bangladesh as the country cements its position as a top supplier of apparel items, evidenced from a healthy flow of orders from international clothing retailers and brands.

Exports crossed the $5 billion-mark for the third month in a row in February, in yet another bright spark for the economy battling a persistent strain on the dollar stockpile.

The US has once again called for upgrading labour laws in Bangladesh to global standards for deepening trade ties in President Biden’s 2024 Trade Policy Agenda.

Bangladesh will keep enjoying duty-free market access for three more years after its graduation to a developing nation in 2026 as the extension was endorsed by 166 members of the World Trade Organisation (WTO) at its Ministerial Conference that concluded in Abu Dhabi on Friday night.

Bangladesh will continue to get duty benefit for three more years after the graduation to a developing nation from the least developed country (LDC) in 2026 thanks to the decision taken at the 13th Ministerial Conference of the World Trade Organisation (WTO).

While Bangladesh’s garment sector struggles  to transition from basic products to high-end items, too many companies are going in for the same international contracts, intensifying competition among themselves.

Walk down the road in Savar, Gazipur or Narayanganj in the morning hours and you will see a long line of workers heading to work.

Exports of locally made lungis, a widely used everyday garb for southeast Asian men, have been rising rapidly because of the increasing Bangladeshi diaspora worldwide while the local market has also been on an upward curve due to Bangladesh’s growing population, industry insiders said.

Garment export from Bangladesh may witness a strong rebound from May as suppliers are receiving a lot of inquiries from international buyers as the global economy recovers from the severe fallout of the Covid-19 pandemic and the Russia-Ukraine war.

Three of Bangladesh’s major trade bodies have joined a global initiative calling on governments to collaborate in ensuring safe passage of commercial vessels over the Red Sea and deter a repeat of last December’s attacks.

Garment exports to the US, the biggest market for Bangladeshi products, declined by around 25 percent year-on-year to $7.28 billion last year for a slowdown in imports by American fashion retailers and brands due to high inflationary pressure.

Bangladesh shipped apparel goods worth $650 million to Russia in the financial year of 2020-21 and was tipped soon to be crossing the $1-billion mark in the promising market.

The highly promising home textile sector of Bangladesh is losing its lustre in the export market as the lingering gas crisis, the volatile exchange rate and the higher production cost are forcing many factories to go out of business.

Faced with a chronic gas crisis and volatile exchange rates, a number of ailing textile millers are putting their factories up for sale as they are no longer able to contend with losses stemming from dwindling production.