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Bangladesh apparel exporters seek government support amid second COVID-19 wave

  

Bangladesh’s apparel exporters fear a fresh setback due to the second wave of the coronavirus pandemic in the western countries and sought support from the government to face the imminent shock.

Exporters said that the export-oriented readymade garment industry was on a recovery track in the last two to three months with a compromised price level but the second wave would slow the export orders as the major markets in EU — France, Germany, Spain and Italy — were going for partial lockdown to contain further outbreak of the virus.

RubanaHuq, President, BGMEA, said that due to the second wave of the pandemic in the western countries, the volume might drop as well, buyers might hold back placing new orders — meaning factories might end up with idle capacity after they had already been in a weak financial position after sustaining price hits. This might give rise to a situation which would be extremely difficult for the industry to cope with, she added.

Due to the worldwide outbreak of the pandemic, the global fashion buyers and retailers started cancelling orders since March this year. Bangladesh faced halt or order cancelation worth more than $3 billion up to May and from June buyers started reviving their cancelled orders.

Country’s apparel exports was back on the positive track with the revived orders, but the second wave will bring further shock, said Mohammad Hatem, First Vice-President, BKMEA

MdFazlulHoque, Managing Director, Plummy Fashions said the country’s readymade garment exporters were running their units on loan and the government would have to continue support to the sector realizing the global situation. According to data from the Export Promotion Bureau, Bangladesh’s apparel exports in financial year 2019-20 declined by 18.12 per cent, or $6.18 billion, to $27.95 billion from $34.13 billion in FY19 as the coronavirus pandemic hit the global business hard

 
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