Bold steps needed to boost BD's garment sector. By Ibrahim Khalil Ahasan

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BGMEA had demanded massive production disruption due to recent labor unrest. Apart from this, there have been various incidents including factory closures and labor protests. And when it is known that in the first eight months of the year, the export of clothing made in the United States, along with the European Union (EU) countries, has seen a decline. And in this, the export income of various countries, including Bangladesh, China, Vietnam and India has decreased, so it appears that it is necessary to take the overall situation into consideration. It is known that in other years, the growth in ready-made clothing business has decreased in January-August this year. According to the data, the exports of China, the world's largest exporter of ready-made garments, Vietnam, which is second, and Bangladesh, which is third, have decreased. We think that it is the duty of the concerned parties of the country to take this initiative and continue efforts in implementation.

Notably, these data on the decline in exports have emerged in the January-August report of Eurostat and the US Department of Commerce's Office of Textiles and Apparel (OTEXA). According to the data, exports to the European Union (EU), the largest market for ready-made garments, fell by 3.63 percent in the eight months from January to August this year. At the same time, the US market fell by 4.04 percent. The export income of two major trade circles decreased by 223 crore 63 lakh dollars and 215 crore 48 lakh 90 thousand dollars respectively. The concerns need to be taken into account, exporters and economists consider the situation to be the effect of economic recession around the world. They say, the Russia-Ukraine war, instability in the Middle East is affecting the global economy.

It is worth noting that, in January-August, 5 thousand 932 million 14 million 70 thousand dollars worth of ready-made clothes were exported to Europe. And last year at the same time the export was 6 thousand 155 crore 77 lakh 70 thousand dollars. In January-August, China's exports decreased by 3.63 percent, Vietnam by 4.10 percent and Bangladesh by 3.53 percent. Apart from this, Turkey decreased by 7.52 percent and Cambodia decreased by 2.73 percent. On the other hand, the US, the second largest market for ready-made garments, exported $5,132,210,000 worth of ready-made garments in the first eight months of the year. During the same period in the previous year, exports were worth 5,345,700,000 dollars. In January-August, China's exports decreased by 2.70 percent, Vietnam by 1.03 percent and Bangladesh by 9.17 percent.

It needs to be mentioned that the country's stakeholders need to take this into account, as a single country, Bangladesh's exports of garments to the US market have decreased significantly. According to the data, Bangladesh is the country with the second highest export decline among the notable countries in the export of manufactured garments to the US market. In the eight months of January-August, Bangladesh exported 4.7 billion 9.8 million dollars worth of ready-made garments to that country. During the same period of the previous year, exports of ready-made garments were worth 518.51 million dollars. Notably, exporters say that the exports of ready-made garments decreased from the beginning of the year to August, but the positive trend has returned to exports from September. It is expected that when the next report comes, it will be seen that the demand for ready-made garments has increased.

All in all, we would like to say that a decline in apparel exports is naturally a cause for concern. As a result, taking into account the overall situation, the relevant people have to work on determining what to do and its proper implementation. According to the director of the Garment Manufacturers and Exporters Association (BGMEA), the economy of the United States and European Union countries was bad. Slowly the economy is turning around, now it will increase. In addition, exports have not only decreased in our country. Pointing out that the exports of almost all the countries have decreased, he expressed hope to increase the exports to these countries by increasing the capacity. It is reasonable to expect that effective initiatives to increase exports will continue taking into account the overall situation

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