Bangladesh’s garment exports may slow down
Bangladesh Garment Manufacturing and Exporting Association (BGMEA), Knitting Manufacturing and Exporting Association (BKMEA) and Textile Industry Association (BTMA) jointly organized a seminar. Experts attending the meeting predicted that clothing exports will decline in the 2011-12 fiscal year. The main reasons include:
China, India, and Pakistan have solicited orders by reducing prices;
India enjoys zero-tariff treatment from Japan and signed a free trade agreement with the EU;
The earthquake in Japan resulted in reduced demand;
The crisis in Greece, Ireland, Spain, Portugal and other countries is deepening day by day; demand from major clothing importing countries such as Europe and the United States is declining;
The Turkish government imposes import tariffs on ready-made garments to protect its national interests;
Rising natural gas and heavy oil prices in Bangladesh are putting pressure on producers.
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