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Bangladesh garment exporters get busy

There’s good news for apparel exporters in Bangladesh. Foreign buyers are beginning to return. At one time, buyers had stopped coming to the country because of factory fires, collapsing buildings, workers' unrest over wages, and political violence.

But the government’s export-friendly initiatives are wooing back buyers and new orders are trickling in. The government’s new policies include: five per cent cash assistance in export through TT, reduction of interest rate of Export Development Fund, rescheduling of default loans without any down payment or based on the relationship between the bank and the client, and advance payment in importing industrial goods. The garment market is again showing signs of revival with workers' discontent over wages coming to an end. The EU has said it has no plans to revoke GSP facilities. However problems of gas and power supply and creaky infrastructure persist.

The Bangladesh government has also prepared a draft of rules to implement labor laws.  There is international pressure to amend laws and put them in place to improve and ensure workplace safety and labor standards. One proposal is that a garment manufacturer needs to have a hospital on the premises. The labor ministry has been requested to formulate business-friendly rules.

 
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