Refayet Ullah Mirdha

Local garment manufacturers are pumping money to expand their capacity to produce technical garment items such as activewear and workwear since their demand is rising in the western markets. 

Apparel exports from Bangladesh will cross $95 billion by 2030 if the country can expand its share in the global market for manmade fibre (MMF) to 12 per cent from less than 5 per cent at present, according to a recent study.

Business and industrial activities were disrupted for several hours since yesterday afternoon as the national power grid failed, plunging half of the country into darkness.

The slowdown in demand and stronger US dollar worldwide has pushed down cotton prices in the international market, raising hopes of increased work orders from global brands and retailers among local garment makers.

Bangladesh has started the groundwork to begin negotiations for signing a Comprehensive Economic Partnership Agreement (CEPA) with India, as has been agreed upon by top leaders of both countries last month. 

The number of green garment factories in Bangladesh has reached 173 as two more units received the Leadership in Energy and Environmental Design (LEED) certification from the US Green Building Council (USGBC) yesterday.

Export earnings dropped 6.25 per cent year-on-year to $3.9 billion in September, the first fall in 14 months, as the cost-of-living crisis in the western countries took its toll on Bangladesh’s main foreign currency earning sector.  

Bangladesh is poised to overtake China in garment exports to Europe, the world’s largest market, anytime in the near future for work orders shifting its way and its price competitiveness. 

Bangladesh made moderate advancements last year in efforts to eliminate the worst forms of child labour, according to a report of the US Department of Labor published on Wednesday.

The American Apparel and Footwear Association (AAFA) along with 270 other trade bodies has urged the US Congress to reinstate the Generalised System of Preferences (GSP) for the convenience of American traders.

Bangladesh-born Shwapna Bhowmick has been promoted to play the role of the head of Bangladesh and India operations of British retail giant Marks and Spencer (M&S).

Bangladesh is increasingly becoming a source not only for replica football shirts worn by fans but also kits used in practice by players of the International Federation of Association Football (FIFA) World Cup alongside European clubs. 

Businesses will not be able to use the Indian rupee for trading with India as the Bangladesh Bank has not enlisted the currency for the settlement of bills for exports and imports.

The government is going to formulate a policy on cross-border electronic transmissions in a bid to help guide the country’s thriving e-commerce industry in this regard, according to a senior official of the commerce ministry.

Sweater suppliers in Bangladesh are witnessing relatively a dull season because of a longer-than-usual dry spell in European countries and the higher cost of living fueled by the Russian-Ukraine war. 

A transit agreement between Bangladesh and Bhutan was finalised yesterday with senior officials of both countries agreeing to draft terms and conditions at a secretary level meeting in Dhaka. 

Bangladesh’s dominance in the global denim market has continued thanks to a surge in demand driven by the trade tension between the US and China. 

Three more Bangladeshi garment factories yesterday received international recognition of being green, taking the total to 171, although international clothing retailers and brands are still not paying premium prices for apparel items produced by those suppliers. 

International cotton prices have significantly fallen but brought little cheer to local spinners and garment manufacturers suffering from a drop in work orders from international retailers and brands.

Even in 1994, DBL Group, a leading garment exporter, was struggling to survive with less than 300 workers and a small factory in the capital’s Farmgate.