Refayet Ullah Mirdha

Buyers are already asking suppliers to execute orders as soon as possible because the time to transport goods has been extended by an additional 15 days following the outbreak of the Red Sea crisis in October.

Garment export to the United States, Bangladesh’s single largest market, is showing signs of a rebound on the back of a revival of the world’s largest economy, consumers opening up their wallets, and falling inflation.

Garment exports to the US declined 19.24% to $1.18 billion in January and February

Overall exports posted a 4.39 percent growth to $43.55 billion in the July-March period of the current financial year.

The Biden administration identified bribery, corruption, customs, anti-competitive procurement system and violation of intellectual property rights as major trade and investment barriers in Bangladesh.

Despite garment exporters transforming their factories, international buyers are not paying a premium for the products they source from the eco-friendly factories

The midday sun blazes down on SM Sourcing, the world’s highest-rated green garment factory in Gazipur’s Konabari. About 60 workers on one of the factory floors are busy making export-quality frocks as they hurriedly finish their work ahead of lunch. Despite the summer heat outside, only a few ceiling fans are switched on and the factory floor is quite cool.

Speaking about Bangladesh, the ILO said its governing body took note of the report on the progress made with the implementation of the roadmap of actions and was mindful of its 2021-26 timeline for the labour sector reform as well as of the results yet to be achieved.

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.

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.

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.

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.