Readymade garment manufacturers of Bangladesh fear that the increasing cases of Covid-19 in various countries of the European Union (EU) might affect the country’s export.
Mohammad Hatem, Executive President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told the Bangladesh Post, “The readymade garment sector started recovering as soon as the restrictions were lifted for tourists in European countries. If the Covid-19 surge disrupts public life in Europe again, it will hamper our efforts to turn around the garment industry.”
The country's RMG sector is recovering from the losses incurred amid the Covid-19 pandemic. Purchase orders have increased to a large extent. Amid this recovery process, the surging cases of Covid-19 in the EU countries have become a major concern as about 60 percent of Bangladesh's total garment is exported to EU.
Faruque Hassan, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), in a recent press conference said, “Infection is on the rise in almost all EU countries, including Austria, Belgium, the Netherlands, Sweden, and France. This, of course, is a big concern for us. According to the latest data, retail sales in Europe are still 15 percent lower than the previous year of Covid-19 pandemic.”
Sweden, and France. This, of course, is a big concern for us. According to the latest data, retail sales in Europe are still 15 percent lower than the previous year of Covid-19 pandemic.”
Although coronavirus infection is on the rise in European countries, so far there has been no impact on garment exports.
However, during the first wave of Corona, orders were canceled one after another in March last year. Buyers had also reduced the price of clothing. At present that situation has improved a lot.
Last year, owners of the garment industry had adopted a strategy to retain the buyers by accepting orders at low prices. However, the price of garments has not increased in proportion to the increase in the price of raw materials.