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‘Global mass vaccination may revive BD RMG exports’

Published : Thursday, 6 May, 2021 at 12:00 AM  Count : 598

Syed Nazrul Islam

Syed Nazrul Islam

Covid 19 vaccination is getting momentum across most of the world and it may improve situation giving an opportunity to major readymade garment exporting countries like Bangladesh to revive their exports, following a year of downtrend due to the pandemic fallout.
Prolonged pandemic disrupted RMG export growth and currently both quantity and prices are in falling trends at which many factory owners are facing closures due to inadequate orders and cancellations of orders from some buyers.
Syed Nazrul Islam, First Vice President, Bangladesh Garments Manufacturers and Exporters Association (BGMEA) who was elected from Chittagong said this while talking with The Daily Observer.
Since the outbreak of the pandemic last tear exporters incurred loss by 30 per cent loss due to falling prices, stock lot and deferred payments by the retailers.
However, the government's stimulus packages helped a lot to the factory owners, who could  bear the loss and pay their workers in the troubled moment.
The BGMEA leader said the whole world is now going for mass vaccination and once it is done the export of Bangladesh's RMG hopefully will get a boost again as the fear and uncertainty that is looming over for the last two years will be disappeared.
But by this time it is imperative for the government to support the country's main export earning sector with low cost financing mainly for paying workers in the next few months.
He said similar interim stimulus package also this year to protect the industry and ensure wages for the workers. This interim support should only be for the workers.
Unless low cost loans are available the sector may face severe challenges of existence he said and hopefully said within coming years July the situation would be normalized. The association leader said keeping the sector unhurt is also another challenge ahead of seeking different facilities from the export market once Bangladesh graduates to a developing country status.
He said as existing GSP will be removed, another efforts is inevitable be given of getting GSP plus in the European and other market under World Trade Organization.
For this he said collective efforts must be there among the government, policy makers and exporters.
Islam also a director of Well Dress Limited said Bangladesh exporters are smart in doing RMG business as without own cotton, machinery and few other supports Bangladesh is one of the leading RMG exporters in the world. "So I am optimistic we will overcome the pandemic caused downtrend and will be gainer in negotiation table of GSP Plus", he said.









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