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Tuesday, 13 September 2022 05:52

Made in Bangladesh Week will showcase apparel strength

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Made in Bangladesh Week will begin on November 12, 2022.The event will showcase the strength and potential of Bangladesh’s apparel industry. The goal is to present the important and positive sides of the apparel industry on the world stage.

The apparel industry will be presented as a sustainable and innovative industry to international brands and retailers. The hope is that branding Bangladesh-made garment products will aid in recovering from the pandemic losses.

Bangladesh has been enjoying growth in garment exports since August last year. Numbers were high in July to August this year as well but purchase orders have been shrinking and for the next holiday season orders have dropped by 20 per cent to 30 percent due to rising inflation and recession in Europe and the US, Bangladesh’s main markets.

Bangladesh’s huge clothing industry is looking for new markets in countries such as Japan and South Korea. Inflation has stifled orders from its key buyers, North America and Europe.Most factories are getting orders of less than 30 per cent of their capacity for the next winter season amid record inflation rates across Europe and the US. The South Asian nation’s producers of readymade garments contribute around a fifth of its gross domestic product and more than 80 per cent of its export earnings.