As we know US is the single largest export destination of Bangladesh RMG. But from January to November of 2014 RMG exporting to US has been declined 3.17 percent year-on-year to $4.64 billion. It’s happening after Rana plaza building collapse.
Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said, “Exports to the US started declining when retailers from North American countries took a wait-and-see approach after the Rana Plaza disaster”
“Buyers were also cautious in placing orders with the factories housed in shared buildings. This is the main reason behind the fall in exports, But, it is the current political deadlock that will harm exports the most. Everybody should come forward to resolve the problems so that exports remain unscathed “ he added.
The BGMEA president also said, “Exports declined not only to the US, but also to other destinations such as Canada and the Netherlands”
According to the US department of commerce Bangladesh was the sixth largest sourcing country (though Bangladesh's position was third even a few months ago) but now this position is in losing position. And one point is to be noted that now Cambodia, Vietnam and Indonesia are going to be major competitors of Bangladesh in the market of US.
BGMEA president said “If Bangladesh's political situation does not improve soon, even Sri Lanka and Myanmar may emerge as new competitors as the two countries are performing better after overcoming their domestic political crises,”
He strongly said that “Reaching the $50-billion export target by 2021 might not be possible if the political crisis is not resolved as soon as possible,”
Being an independent country such types of barbarism occurrence in Bangladesh is really a example of being agree to be looser. If we can not understand our need, our aim and our strength then we will be remained as independent called dependent country economically. So, political situation should come in terms of solution in the shake of billion people fortune.
Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said, “Exports to the US started declining when retailers from North American countries took a wait-and-see approach after the Rana Plaza disaster”
“Buyers were also cautious in placing orders with the factories housed in shared buildings. This is the main reason behind the fall in exports, But, it is the current political deadlock that will harm exports the most. Everybody should come forward to resolve the problems so that exports remain unscathed “ he added.
The BGMEA president also said, “Exports declined not only to the US, but also to other destinations such as Canada and the Netherlands”
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| Fig : Exporting growth percentage of RMG to US from JAN-NOV 2014 |
BGMEA president said “If Bangladesh's political situation does not improve soon, even Sri Lanka and Myanmar may emerge as new competitors as the two countries are performing better after overcoming their domestic political crises,”
He strongly said that “Reaching the $50-billion export target by 2021 might not be possible if the political crisis is not resolved as soon as possible,”
Being an independent country such types of barbarism occurrence in Bangladesh is really a example of being agree to be looser. If we can not understand our need, our aim and our strength then we will be remained as independent called dependent country economically. So, political situation should come in terms of solution in the shake of billion people fortune.
Textile Tribune
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