The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has identified various factors which has or will lead in uncertainty over exports of garments from the country.
These factors include India’s already signed or proposed free trade agreements (FTA’s) with various countries or regions like the European Union and the United Kingdom.
The other factor stems from the country’s graduation from the Least Developed Country (LDC) in November 2026.
BGMEA said that some buyers have started shifting a portion of their export orders to India due to the two factors and India’s growing competitiveness.
The observations were made at an emergency board meeting of the apparel apex body headed by its President Mahmud Hasan Khan at its headquarters in Dhaka.
“The emergency board meeting was convened to identify the factors of recent continuous fall in export earnings and their way forwards,” FE reported.
Image courtesy: Freepik
