Refayet Ullah Mirdha

US President-elect Donald Trump’s trade policies towards China and Mexico could ultimately benefit Bangladesh, according to local apparel exporters.

Labour union leaders yesterday suggested that the government amend the labour law, easing the condition of a 20 percent workers’ participation threshold to only 20 workers to facilitate freedom of association.

The government is trying to find jobs for 40,000 laid-off workers of Beximco Group in factories within the Bangladesh Export Processing Zone Authority (Bepza) and the Bangladesh Export Zones Authority (Beza), a senior labour ministry official said.

Elections at major trade bodies have missed the 90-day deadline as new administrators of the business organisations seek amendments to the governing rules.

In spite of turbulent times prevailing both at home and abroad, garment exports from Bangladesh grew in 2024 by 7.23 percent year-on-year to $38.48 billion, according to the Export Promotion Bureau (EPB)..This is due to an increasing demand for clothing with the fall of inflation in major

The export of home textiles is on the path to recovery after nearly one year because of the devaluation of the local currency, increased production capacity and improvement in gas supplies to some extent.

Businesses hope for the year 2025 to bring about stability as normalcy has started to be restored in businesses following turbulent times both at home and abroad.

For the local apparel industry, 2024 was a year marked by challenges, recoveries and a renewed sense of hope as the global market began to brighten -- proving once again the resilience of Bangladesh’s apparel might.

The Beximco Group has laid off nearly 40,000 workers across its 15 apparel units, citing a lack of work orders for its export-oriented garment and textile factories in Dhaka’s outskirts of Gazipur.

Business leaders, economists and professionals have emphasised that an elected government is essential for restoring confidence in the business community, stabilising law and order, and revitalising the business and investment climate.

The prices of major garment items exported to the US declined year-on-year in the January­-October period this year as American consumers are yet to recover from heightened inflationary pressures..During the 10 months, the price of men’s cotton woven trousers declined by 7.7 percent, accor

After three months of rigorous work, a white paper panel on the state of the economy revealed all the fault lines that had formed across Bangladesh during the 15 years of rule under the Awami League government, which held power from 2009 until it was ousted by a mass uprising on August 5 this year.

The government has decided either to sell the ownership of a good number of Beximco Group companies or find entrepreneurs to lease these units out.

The reform initiatives taken by the interim government should be continued as these reforms may pave the way towards a more modern, equal and inclusive Bangladesh, said a top official of the International Labour Organization (ILO).

The Trump Administration’s imposition of high tariffs on goods made in China may help to reduce the price of soybean seeds and edible oil in Bangladesh, traders and importers said..China’s retaliatory tariffs may also discourage Chinese importers from buying US goods, they added. .If

Chinese entrepreneurs are increasingly inquiring with Bangladeshi businesses over scope for factory relocations, joint ventures and fresh investments, apprehending that the new Trump administration might further hike tariffs on their exports to the US.

Following the political changeover on August 5, the country’s main export-earnings sector, the garments industry, witnessed a large-scale and drawn-out spell of labour unrest in industrial belts such as Savar, Gazipur, Ashulia, Zirabo and Zirani.

Delayed salary payment from a handful of RMG factory owners triggered the latest bout of labour unrest

Bangladesh has committed to amending its labour law by March next year to align it with international standards and meet the 18-point demand raised by workers in September this year.

A congenial business environment is yet to be restored under the interim government, said Tapan Chowdhury, managing director of Square Pharmaceuticals.