Textile & Garments

Bangladesh is hopeful that it will enjoy the duty-free export benefit for a more extended period after graduating from the grouping of the least-developed countries (LDCs) as the negotiation with the World Trade Organisation is underway.

Bangladesh’s readymade garment exports to the European Union in July-August of the current financial year 2021-22 fell by 3.39 per cent to $3.4 billion from $3.51 billion in the same period of FY 2020-21 as the economy of the bloc is yet to recover from the Covid fallout.

Net export of readymade garments dropped for three consecutive quarters in the April-June period of 2021 amid slow demand for high value products during the Covid pandemic.

The prospects to resume buying cotton from Uzbekistan have improved for Bangladesh after the United States lifted the ban on sourcing the key textile raw material from the country following significant progress in ending forced labour.

The spinning industry in Bangladesh is witnessing massive investment as local entrepreneurs are either expanding their production capacities or setting up new units as the demand for garment raw materials is rising.

Garment exporters have been feeling the pinch of an unusual rise in the cost of production fuelled by hikes in yarn prices and freight charges in the wake of a recovery in export during this time of Covid-19.

A 1 per cent increase in female employment can effectively increase economic growth by 0.31 per cent, according to a study by South Asian Network on Economic Modeling (Sanem) unveiled yesterday.

Garment makers have demanded a 10 per cent incentive on the export of garment items made from non-cotton fibres to encourage investment in man-made fibre (MMF).

Local garment makers yesterday sought Spanish investment in non-cotton textile items as the demand for apparel items manufactured from man-made fibre (MMF) is on the rise.

The dispute between spinners and garment manufacturers was resolved after the two sides fixed the price of the widely consumed 30-carded yarn at a maximum of $4.20 per kilogram.