Reopening of EU, US economies creates new opportunity for Bangladesh: exporters
The reopening of the economies of European countries and the USA has created a new opportunity for Bangladesh on the way of recovery from the severe fallouts of Covid 19 pandemic, apparel exporters said today.
Bangladeshi garment exporters have been receiving a lot of work orders from the international clothing retailers and brands, said Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
However, the local exporters have negotiated with the international retailers and brands for getting fair prices from the sales of garment items.
The demand for manmade fibre garment items has been increasing worldwide, so the local garment suppliers need to grab this opportunity of man made garment business worldwide, Hassan also said.
Hassan said BGMEA has been making a study on the recovery roadmap so that the local suppliers can grab the opportunity of the market.
He said the proposed Generalised System of Preferences (GSP) of the European Union (EU) will help the continuation of the duty facility to the European markets even after the graduation of the country from the Least Developed Country (LDC) to a developing one in 2026.
Hassan was speaking at a roundtable discussion on road to recovery organised by Bangladesh Apparel Youth Leaders Association (BAYLA) at the Westin Hotel in Dhaka.
Garment exporters and textile millers and young leaders in the sectors attended the programme.
Mohammad Ali Khokon, president of Bangladesh Textile Mills Association (BTMA), said the unhealthy competition among the local suppliers has been affecting the pricing of the garment items.
"We need to reduce the unhealthy price completions among us for getting better prices from the international retailers and brands," Khokon also said.
He suggested improving the capacity of Pitt for handling the over supply of work orders in the time of recovery.