The USFIA (United States Fashion Industry Association) 2022 Fashion Industry Benchmarking Study, indicates, over 50 per cent of the US apparel executives plan to source more from Bangladesh than from Vietnam, Indonesia, China, Cambodia and other competitors in the course of next two years.
The report published by USFIA, shows a staggering 55 per cent of the US apparel executives have expressed interest to increase sourcing from Bangladesh till 2024, including 3 per cent who expected a strong increase.
The report further underlined India led countries or regions the US fashion companies planned to increase their sourcing value in the next two years, It was followed by CAFTA-DR region and Bangladesh while Mexico came in the fourth place in this regard, with Indonesia and Vietnam tied for the fifth position.
CAFTA-DR or Dominican Republic-Central America FTA is the first free trade agreement between the United States and a group of smaller developing economies, which includes Guatemala, Honduras, Nicaragua, Costa Rica, El Salvador and Dominican Republic.
